Moody’s cuts Egypt rating to B3, changes outlook to stable
Ratings agency Moody’s lowered Egypt’s sovereign rating by one notch to B3 from B2 on Tuesday, citing the country’s reduced external buffers and shock absorption capacity.
The ...
Ancient Egypt’s mummification ingredients came from far-flung locales
The ancient Egyptians employed a host of exotic ingredients – some apparently imported from as far away as Southeast Asia – to mummify their dead, as revealed by a new analysis of ...
Egypt’s net foreign assets climb by $2 billion in December
Egypt’s net foreign assets (NFAs) improved by 47.28 billion Egyptian pounds in December, marking a second month of increases after it allowed its currency to depreciate sharply in October, central ...
Dollars flow into Egypt currency market after depreciation
Hundreds of millions of dollars have flowed through Egypt’s interbank market since the central bank allowed the Egyptian pound to depreciate by 13 per cent to a historic low, bankers ...
Egypt’s December inflation accelerates to annual 21.3 per cent
Egyptian annual urban consumer inflation in December rose to 21.3 per cent from 18.7 per cent in November, exceeding analyst expectations, data from the statistics agency CAPMAS showed on Tuesday.
The inflation ...
Gunmen kill two Egyptian police east of Cairo
Two gunmen on motorbikes opened fire on an Egyptian security checkpoint on Friday, killing two policemen and a citizen in a city east of Cairo, according to sources from the ...
Libyan GNU govt refuses Egypt’s move on maritime borders’ demarcation
Libya’s Government of National Unity (GNU) refused an Egyptian presidency decree unilaterally demarcating Egypt’s western maritime borders, the Libyan foreign ministry said in a statement on its Facebook ...
Thriving Egypt-Cyprus relations a factor of stability in the East Med
By Dr Andrestinos Papadopoulos
That Cyprus-Egypt relations are presently at their highest level is an evaluation that represents an undisputable reality.
We should go back to ancient times to trace ...
Erdogan says Turkish, Egyptian ministers to meet in process of building ties
Turkish President Tayyip Erdogan said in comments broadcast that a process of building relations with Egypt will start with ministers of the two countries meeting and that the talks would ...
Busking Brit crosses Iraq on his way to COP27 without flying
With a violin on his back and maps in his bag, Dan Hodd left Spain a month ago and was cycling through busy Baghdad as he heads to the COP27 ...
UK’s King Charles, stepping back from campaigning, will not go to Egypt climate summit
Britain’s King Charles will not attend a world leaders’ climate change summit in Egypt next month, a royal source said on Sunday, as the new monarch steps back from ...
Honda Motor, LG Energy to build $4.4 bln US EV battery plant
Japan’s Honda Motor Co (7267.T) will build a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd (373220.KS), ...
National Guard completes joint exercise in Egypt
The National Guard on Friday completed an international joint exercise ‘Tams-Heracles’ in Egypt, it said.
In addition to the host country and Cyprus, the United Arab Emirates, Saudi Arabia and ...
Cyprus expresses ‘deep sorrow’ for loss of life in Egyptian fire
Cyprus expressed “deep sorrow” for the loss of life from the devastating fire in the Coptic church in Giza earlier in the day and sent its condolences Egypt.
A post ...
Egypt to ration electricity to boost gas exports
Egypt’s cabinet has approved a plan to ration electricity to save natural gas that it will instead divert to the export market to generate foreign currency, it said on ...
IMF says Egypt needs progress on fiscal and structural reform
The International Monetary Fund said on Tuesday that Egypt needed to make “decisive progress” on fiscal and structural reform as Cairo seeks a new round of support from the fund.
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High-level talks with Egypt could take place, Erdogan says
Turkish President Tayyip Erdogan said on Monday there is no reason for high-level talks with Ankara’s estranged rival Egypt not to take place, as its efforts to mend ties ...
Lavrov offers reassurance over Russian grain supplies in Cairo visit
Russia’s Foreign Minister Sergei Lavrov offered reassurances over Russian grain supplies to Egypt during a visit to Cairo on Sunday, amid uncertainty over a deal to resume Ukrainian exports ...
IMF says it held productive talks on new programme for Egypt
The International Monetary Fund (IMF) said on Friday it had held productive discussions during a staff visit to Egypt on economic policies and reforms to be supported by an extended ...
Egypt can no longer depend on hot money for budget: finance minister
Egypt’s finance minister said on Monday the government could no longer depend on foreign purchases of treasuries to finance its budget, but must work to boost foreign direct investment (...
Egypt’s strategic wheat reserves sufficient for 5.7 months, minister says
Egypt has strategic reserves of wheat sufficient for 5.7 months, Supply Minister Aly Moselhy said in a news conference on Sunday, adding that the country has procured 3.9 million tonnes of wheat ...
Egypt-Greece-Cyprus defence ministers review sovereignty concerns, regional security cooperation
Concerns over possible unilateral actions violating the sovereignty, sovereign rights and territorial integrity of any country in the wider East Mediterranean region were top of the agenda for the the ...
Kasoulides meets Egyptian counterpart in Cairo
Bilateral relations, trilateral cooperation with Greece, challenges in the Eastern Mediterranean, the war in Ukraine and the Cyprus problem were among the issues discussed between the Cypriot Minister of Foreign ...
Egypt’s street trees fall foul of urban development drive
By Menna A. Farouk
In Cairo’s busy streets, towering palms, purple-blossomed jacarandas and mature sycamore trees provide precious respite from the midday sun and a glimpse of green in ...