Top Headlines

• Egypt’s central bank raises interest rates by 100 basis points
• Egypt’s government debt-to-GDP ratio is expected to reach 97 percent at the end of June 2023
• Net foreign assets held by Egypt’s commercial banks head deeper into negative territory
• Egyptian peacekeeping troops leave Mali as part of UN withdrawal
• Egypt is 14th most populous country worldwide
• Egypt and Greece reaffirm consistency of positions in the Eastern Mediterranean region
• UAE President meets Egypt’s Sisi in New Alamein city 
• Türkiye and Egypt seek to boost trade ties

Main Headlines

Monday

• At least four killed in clash in Egypt’s Sinai , security sources say
• Egypt’s government debt-to-GDP ratio is expected to reach 97 percent at the end of June 2023
• President Sisi and President Abbas discuss the outcomes of the unity meeting of the Palestinian factions, which was hosted in Egypt on Sunday
• Abu Dhabi Islamic Bank Egypt names Minister Al-Mashat as board member
• Egypt 14th most populous country worldwide: Health minister

Tuesday

• Net foreign assets held by Egypt’s commercial banks head deeper into negative territory
• Egypt is reckoning with sporadic power cuts in the midst of a sweltering summer
• Egyptian expats to soon invest in high-return national projects through new company:

Wednesday

• Shoukry and Blinken discuss Sudan, Libya and Palestine in a telephone call
• Egyptian peacekeeping troops leave Mali as part of UN withdrawal
• Power cuts in Egypt will no longer be scheduled between 12 am -12 pm

Plus * Unverified report*: State security director in Egypt’s restive Arish reportedly were taken hostage by gunmen amid media blackout: Security source

Thursday

• Egypt’s central bank raises interest rates by 100 basis points
• Egypt’s Al-Sisi and Greece’s Mitsotakis hold talks in New Alamein
• Egypt and Greece reaffirm consistency of positions in the Eastern Mediterranean region
• Egypt’s Commercial International Bank (CIB) launched a one-year USD-denominated certificate of deposits (CDs) with a monthly yield of 6 percent

Friday

• Egypt’s dollar bonds rally the most in emerging markets after the nation resumed its rate hikes
• Turkish Vestel, Zorlu to establish home appliances factory in Egypt with $70 million initial investment

Saturday

• UAE President meets El Sisi in Egypt; bilateral ties discussed
• Social media abuzz over UAE president’s casual visit to Alamein
• Türkiye, Egypt seek to boost trade ties
• Huge blaze at Egypt’s endowments ministry Cairo HQ under control, no casualties reported
• Direct Cairo-Delhi flight launched after PM Modi’s Egypt visit
• 1 dead as tugboat sinks in Suez Canal after colliding with tanker
• Egypt’s National Dialogue to submit three proposed electoral systems to President El-Sisi

Sunday

• Work still underway to lift sunken tugboat in Suez Canal
• Egyptian stock market ends in green Sunday; gold inched higher
• Egypt extends deadline for gold mining exploration bid in Eastern Desert until November
• No casualties in fire at endowments ministry, all records safe: Spokesperson
• Israeli model publicly kicked out of hotel in Egypt

Read

• See the heartbreaking destruction of Cairo’s iconic gardens. Yasmine El-Rashidi
• Mubarak for president of Egypt? Nostalgia may be on the upcoming Egyptian presidential ballot. Shahira Amin 

Reports

• Turkey and Egypt seek to boost mutual trade by 50% in 5 years. Ezgi Akin
• New Alamein: A real-estate game changer. Safeya Mounir

From Twitter