This Week in Egypt: Week 21-2023 ( May 22-28)

Top Headlines

  • Egyptian parliament approves a new package of tax and fee hikes amid criticism
  • Qatar says investments in Egypt are coming, but no more deposits.
  • Egypt’s mounting debt raises doubts amid stalled reforms and inflows
  • Egypt and Iran to exchange ambassadors this year in landmark move towards normalising ties
  • Egypt urges Ethiopia to stop misleading ‘colonial agreements’ claims to dodge GERD obligations
  • A ship that had been stuck in Egypt’s Suez Canal has been re-floated
  • Egypt unearths mummification workshops, tombs in ancient burial ground
  • Another lawsuit filed against Netflix’s controversial ‘Queen Cleopatra’

Main Headlines

Monday

Tuesday

Wednesday

Thursday

Friday

  • Egypt’s wrestling federation is under investigation following young wrestler’s escape to France
  • United Kingdom announces first water infrastructure resilience projects in Egypt and Senegal

Saturday

Sunday

  • Egyptian parliament approves a new package of tax and fee hikes amid criticism
  • Gold price in Egypt stabilized on Sunday after nearly two weeks of fluctuations, while the Egyptian Exchange kept its positive performance
  • Egypt unveils VAT exemption on some imported pharmaceutical materials
  • Another lawsuit is filed against Netflix’s controversial ‘Queen Cleopatra’

Reports

  • Debate In Egypt regarding possible rapprochement with Iran. B. Chernitsky, Memri
  • Egypt’s mounting debt raises doubts amid stalled reforms and inflows. Marc Español
  • Egypt and Syria are coordinating’: IDF estimates on eve of Yom Kippur War declassified. Emanual Fabian
  • French Open 2023: Egypt’s Mayar Sherif on tennis ‘obsession’.  BBC Sports

Read

From Twitter

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This Week in Egypt: Week 20-2023 ( May 15-21)

Top Headlines

  • Egypt refutes diplomatic breakthrough with Iran
  • Egypt’s Sisi attend Arab League summit; meet with Assad
  • 22 new decisions to boost investment in Egypt
  • Greek firms announce deal for developing renewable energy projects in Egypt
  • Fitch downgrades 4 Egyptian banks to B, with negative outlook
  • Egypt’s pound has rallied 12% on the local black market as demand for US dollars diminished

Podcast

Main Headlines

Monday

  • Egypt refutes diplomatic breakthrough with Iran, stresses unchanged position

Tuesday

  • Egypt sends two military planes carrying medical aid to Sudan
  • Egypt’s chief of staff discusses boosting cooperation with his Indian counterpart

Wednesday

 Thursday

Friday

Saturday

Sunday

  • The foreign ministers of Israel, the United States, Morocco, Egypt, Bahrain and the United Arab Emirates are set to meet at the end of June in Morocco for the second summit of the Negev Forum
  • Egyptian journalist rebukes union for retaining boycott of Israel

Reports

  • Egypt’s exchange rate uncertainty is stifling business, say entrepreneurs. Heba Saleh 
  • Explainer: 22 new decisions to boost investment in Egypt. Zeinab El-Gundy

Read

From Twitter

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This week in Egypt: Week 19-2023 ( May 8-14)

Top Headlines

  • Israel and Palestinian Islamic Jihad agree Gaza truce mediated by Egypt 
  • After Saudi Détente, Iran is looking towards mending fences with Egypt
  • Egypt’s inflation eases for the first time since June 2022
  • Egypt’s external debt increases $7.9billion to record $162.9 billion in December 2022
  • Egypt sells $121.6 million stake in state-controlled Telecom Egypt
  • Netflix’s Black Cleopatra prompts Egyptian broadcaster to make its own series

Main Headlines

Monday

Tuesday

  • Egypt has revived plans to sell an additional 10% stake in state-run Telecom Egypt through a share sale this month 

Wednesday

Thursday

Friday

Saturday

  • Israel and Palestinian Islamic Jihad agree Gaza truce mediated by Egypt
  • Israel, US, UN thank Egypt for role in mediating ceasefire with Islamic Jihad in Gaza

Sunday

Reports

Read

From Twitter

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Podcast: A discussion with ex-Egyptian MP Mohamed Fouad on Egypt’s economic crisis

Egypt faces a deepening economic crisis. For the average the problem is rising inflation, for foreign observers, the problem is the army outsized rule in economy. Dr Mohamed Fouad, a previous MP in the Egyptian parliament and business management consultant, sees the main problem now is diagnosis of the main reason behind current crisis, is balance of payment deficit. He also highlighted how selling state-owned assets us a slow process and won’t attract fair valuation from buyers. We also discussed the impact of 2 prices of US dollar ( formal and informal), what are the solutions, including the pro & cons of the SuezCanal’s Future Cash Securitization.

Enjoy listening

 

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This Week in Egypt: Week 18-2023 (My 1-7)

Top Headlines

  • Fitch downgrades Egypt to ‘B’ as economy reels
  • S&P revises outlook for three Egyptian banks from stable to negative
  • UAE’s Aldar Properties to hold off further Egypt investments for now
  • Egypt launches first round of national dialogue
  • Arab foreign ministers meeting in Cairo have agreed to readmit Syria to the Arab League  

Main Headlines

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

From Twitter

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This Week in Egypt: Week 17-2023 ( 24-30 April)

Top Headlines

  • Egyptian embassy staff member was killed in Khartoum, Egypt relocates its diplomatic mission 
  • Thousands of Sudanese families cross into Egypt to flee fighting
  • Egypt struggles to lure Gulf buyers in state asset sell-off
  • Fitch Solutions raises its forecast for Egypt’s inflation by 6.4% in 2023; ; Egyptian economy will see growing 4% this fiscal year as currency weakens, according to Reuters poll
  • Egyptian PM: Egypt is fully able to meet its international debt obligations
  • Yacht carrying Russians, Egyptians goes missing off Yemen coast 

Main Headlines

Monday

Tuesday

  • Egypt braces for refugee influx as fighting worsens Sudan’s humanitarian crisis
  • Egypt increases evacuation efforts from Sudan
  • Egyptian bonds slumped after S&P  took a far more downbeat view of the nation’s finances than IMF
  • Yacht carrying Russians, Egyptians goes missing off Yemen coast
  • Air Cairo launches weekly flights between Sharm El-Sheikh, Saudi Arabia and UAE

Wednesday

Thursday

  • Thousands of Sudanese families cross into Egypt to flee fighting
  • Egypt’s economy predicted to grow 4% this fiscal year as currency weakens according to Reuters poll

Friday

  • Egypt struggles to lure Gulf buyers in state asset sell-off
  • Egypt’s trade exchange with African countries records $2.117bn in 1Q 2023
  • Egypt calls Netflix show with black Cleopatra a ‘blatant historical fallacy’
  • Daylight Saving Time returns to Egypt on Friday 28 April

Saturday

Sunday

Reports

  • Egypt’s debt markets are on edge like never before, increasingly consumed by the threat of it missing a payment on its bonds within a year. Netty Idayu Ismail
  • Fear and exhaustion: A family’s flight from Sudan to Egypt. Mai Shams El-Din
  • On a bus to Egypt with Mario the pug. Fernando Duarte 
  • Egypt charges tourist ships in dollars as greenback crisis spirals.Amr Emam
  • Buddha statue found in Egypt points to ancient India links. AFP

Read

  • How the Sudan crisis complicates the Egypt-Ethiopia dispute over the GERD dam. Jonathan Gornall

From Twitter

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This Week in Egypt: Week 16-2023 ( April 17-23)

Top Headlines

  • Three flights of Egyptian troops have returned home from Sudan 
  • Staff member at Egyptian embassy in Khartoum sustained injury after gunshot
  • Over 400 Egyptian civilians evacuated from Sudan
  • Egypt’s Sisi affirms non-interference in Sudan crisis, urges negotiations
  • UAE-mediation efforts lead to release of Egyptian soldiers held in Sudan
  • Greece deploys special forces, aircraft in Egypt for Sudan rescue
  • Egypt reverses plan to give rockets to Russia, leaked documents suggest
  • S&P Global Ratings lowered its outlook on Egypt to negative from stable 

Main Headlines

Monday

Tuesday

  • Egypt reverses plan to give rockets to Russia, leaked documents suggest
  • Chevron seeks drilling ship to expand East Med gas search
  • Egyptian lawyer sues Netflix over depiction of Cleopatra

Wednesday

Thursday

  • Three flights of Egyptian troops have returned home from Sudan
  • Sisi and Bin Zayed discuss calming situation in Sudan
  • UAE- mediation efforts lead to release of Egyptian soldiers held in Sudan
  • Egyptian FM reiterates need to consolidate ceasefire in Sudan amid ongoing conflict

Friday

Saturday

Sunday

Reports

Read

From Twitter

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This Week in Egypt: Week 15-2023 ( April 11-16)

Top Headlines

  • Egypt Armed Forces urges safeguarding of safety of Egyptian troops in joint training in Sudan
  • Sudan’s RSF says it’s ready to cooperate over Egyptian troops in Sudan 
  • Egypt and South Sudan offer to mediate between Sudanese sides
  • Egypt’s Sisi calls on Sudanese sides to prioritise dialogue and uphold the interests of the people 
  • Egypt accuses Ethiopia of buying time, evading legal responsibility to continue unilateral GERD filling
  • Egypt denies report it planned to produce 40,000 rockets for Russia, 
  • UAE president met by Egypt’s Sisi in Cairo
  • Egyptian FM visited Greece and Turkey 

Main Headlines

Monday

Tuesday

Wednesday

Thursday

  • Egyptian FM visited Ankara to discuss restoration of diplomatic relations between Egypt and Turkey
  • Turkish FM: Türkiye, Egypt to cooperate for Libya’s stability
  • Egypt accuses Ethiopia of buying time, evading legal responsibility to continue unilateral GERD filling

Friday

  • IMF says yet to agree date with Egypt for programme review
  • IMF Chief says Egypt may need to slowdown projects to avoid macroeconomic instability
  • Growing alarm in the market that Egypt could soon cave in to pressure with one of its steepest currency depreciations yet has sent investors seeking cover
  • Egyptian FM Shoukry to attend GCC-Jordan-Iraq-Egypt FMs consultative meeting in Saudi Arabia
  • Egypt calls on Turkey to withdraw troops from Syria

Saturday

Sunday

  • Egypt and South Sudan offer to mediate between Sudanese sides
  • Arab League holds emergency meeting in Cairo over situation in Sudan
  • EU is keen to coordinate with Egypt to end ongoing armed conflict in Sudan: Borrell to Egyptian FM Shoukry
  • Coptic Orthodox Church Pope Tawadros II leads Orthodox Easter mass

Reports/ Read

  • As Ramadan draws to a close, soaring food prices pose a far greater problem for Egypt than allegations of a rocket deal with Russia. Bobby Ghosh
  • One thirst for power in Sudan, as two armed factions maneuver.  Alberto M. Fernandez 
  • Sudan crisis: : Can Middle East powers broker a ceasefire? Seith J. Frantzman

From Twitter 

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This Week in Egypt: Week 14- 2023 ( April 3-9)

Top Headlines

  • Egyptian stock market extended losses, and non-oil activity shrinks as inflation soars
  • Egyptian pound is among the worst performing currencies in 2023
  • Egypt’s dollar crunch leads to shortage of medical supplies
  • Egypt, Sudan hold joint military drills as Nile dispute with Ethiopia drags on
  • Egypt nominates former tourism, antiquities minister Khaled El-Enany as UNESCO director-general

Main Headlines

Monday

  • Egypt’s pound is among the worst performing currencies in 2023

Tuesday

Wednesday

Thursday

Friday

Saturday

  • VAR returns to Egyptian league after sudden absence VAR returns
  • Egypt and EU express concern over escalation of violence in Palestinian territories and Israel
  • Experts reveal digital image of what an Egyptian man looked like almost 35,000 years ago

Sunday

Reports

  • Saudi Arabia, and Gulf countries want better returns for bailing out Egypt. Summer Said and Chao Deng
  • Saudi continues regional reshuffle in hosting Egypt’s Sisi, opening to Assad. Beatrice Farahat
  • Egypt’s rate hike viewed with scepticism as inflation persists as inflation persists. Amr Emam
  • Egypt, Sudan hold joint military drills as Nile dispute with Ethiopia drags on. Beatrice Farhat

From Twitter

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This Week in Egypt: Week 13-2023 ( March 27- April 2)

Top Headlines

  • Egypt’s Sisi heads to Saudi Arabia amid financial pressure, regional realignment
  • Egypt raises interest rates again as inflation continues to creep up
  • Egypt and Syria commit to closer ties as foreign minister visits Cairo
  • Biden to nominate career diplomat as envoy to Egypt
  • Egypt joins BRICS’ New Development Bank
  • Egypt eases tourist visa requirements for China, Iran, India, Turkey, Morocco, Algeria and Israel

Syrian foreign minister visits Cairo

Main Headlines

Monday

  • Egypt eases tourist visa requirements for China, Iran, India, Turkey, Morocco, Algeria and Israel

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

  • Egypt’s Sisi heads to Saudi Arabia amid financial pressure, regional realignment
  • Iraqi parliament speaker in Cairo for talks with Egypt’s FM
  • The fight against terrorism in Sinai on par with the October War victory: Egypt’s Sisi
  • Egypt’s Sisi: Carrying weapons in Sinai or elsewhere in Egypt will not be repeated

Reports/Read

From Twitter

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