Egypt Financial News

Pakistan has made a formal request to IMF for seeking the next bailout package in the range of USD 6 to USD 8 billion with the possibility of augmentation through climate financing, a media report said on Saturday. Cash-strapped Pakistan also requested to dispatch the International Monetary Fund (IMF) review mission next month to firm up details of the next bailout package for three years under the Extended Fund Facility (EFF). However, the exact size and timeframe of the new package will only be determined after evolving consensus on the major contours of the next programme in May 2024, Geo News reported from Washington.

NEW DELHI : New Delhi: The union government is planning to set up dedicated labs for testing high-grade cotton in Maharashtra, Tamil Nadu, Haryana, Punjab, Gujarat and Karnataka as part of a push to establish the Indian Kasturi cotton as a global brand, two persons aware of the matter said. The labs would be set up in convergence with the Bureau of Indian Standards' (BIS) testing facilities, ensuring alignment with national quality standards.

global maritime industry is set for tougher and more challenging times after Iran ramped up West Asia tensions by launching an unprecedented drone and missile attack on Israel, causing supply chain disruption and increasing the probability of choking shipping routes, experts here have said. Iran's attack on Israel marks a distinct escalation in hostilities by bringing the two nations into direct conflict. Iran and its proxies launched 330 missiles and drones on Israel late on Saturday night in retaliation to an alleged attack by Israel on a diplomatic mission of the Islamic Republic in Damascus on April 1 in which several people, including two top commanders, were killed. There is a concern about the probability of a Persian Gulf shutdown, though many maintain hope of defusing fierce tension in the region, a delegate at the opening of Singapore Maritime Week on Monday, told PTI.

Day trading guide for stock market today: Amid the Iran-Israel war and FII's selling, the Indian stock market witnessed sharp selling on Friday last week. The Nifty 50 index corrected 234 points and ended at the 22,519 level, the BSE Sensex nosedived 793 points and closed at the 74,244 mark, and the Bank Nifty index shed 422 points and finished at the 8,564 level.

NEW DELHI, MUMBAI : The ongoing conflict between Iran and Israel could disrupt the aviation and shipping industries, sparking concerns over air travel safety and maritime security worldwide, besides a potential rise in airfares, increased war-risk premium for vessels operating in the area, as well as risks to agriculture trade. Following Iran's recent attack on Israel with drones and missiles, several countries in the region, including Iran, Jordan, Iraq, Lebanon, and Israel, temporarily closed their airspaces on 12 April as a precautionary measure, before reopening on 14 April, albeit with restrictions.

Israel through Saturday night into Sunday. Emirates Airlines cancelled some of its fights, while Etihad Airways cancelled services to Tel Aviv and Amman on Sunday.

Seriously concerned at escalation of hostilities between Israel and Iran: MEA US President Joe Biden promised "ironclad" support for Israel after holding an urgent meeting with top security officials. "I just met with my national security team for an update on Iran's attacks against Israel.

Live: Eid-al-Fitr 2024 moon sighting Highlights: India to celebrate Eid on April 11 except THESE places Whereas Kerala, Ladakh, and Jammu & Kashmir, witnessed the crescent on April 9, due to this these states celebrated Eid on April 10 together with the Muslims in Saudi Arabia, UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Turkey, Iran, USA, United Kingdom and other countries in the Middle East and West. Also Read | Eid-al-Fitr 2024: Wish your friends and family 'Eid Mubarak' with these quotes, WhatsApp messages Banks closed for 14 days across states; check the state-wise list of bank holidays in April.

Biden said Prime Minister Benjamin Netanyahu's Gaza policy was a «mistake» and urged Israel to call for a ceasefire, in an interview aired Tuesday. Biden's comments were some of his strongest criticism yet of Netanyahu amid growing tensions over the civilian death toll from Israel's war on Hamas and dire conditions inside Gaza.

The global labour market is in the midst of a gradual but significant transformation. Driven by a dramatic collapse in birth rates, impeded globalization, changes in the capital intensity of growth, a preference shift towards fewer work hours, initial use cases of artificial intelligence (AI) and societal angst over immigration, labour market dislocations have already begun and are only about to go further out-of-whack with time. The manifestations and initial responses are different, country by country, but the meta phenomenon is a major upheaval in labour markets that will necessitate responses.

Gaza, as Israel pulled all of its ground troops out of southern Gaza. Israel's army cited “tactical reasons", for their sudden withdrawal. The move, however, has raised questions about the future direction of the war.

Market regulator Securities Exchange Board of India (SEBI) is considering some major changes in the private placement memorandum of alternative investment funds. To facilitate the ease of doing business, Sebi has proposed that the PPM of the AIF can be directly submitted to the market regulator rather than processing it through a merchant banker. Prime Minister Narendra Modi launched a scathing attack on Congress chief Mallikarjun Kharge over his comment on Article 370.

₹40,000 crore in annual defence exports by 2026, he said. “We cannot get qualified for more naval defence exports until we get more contracts from the Indian government that can act as a reference for us to export," he said. Similarly, the company’s facilities for making 100 units of 52-calibre self-propelled gun systems has been under-utilised after executing the order it received in 2018, Naik said.

US on high alert as Iran-Israel shadow war spurs chance of wider Middle east row The bloodiest-ever Gaza war began on October 7 with an unprecedented attack by Hamas militants resulting in the death of 1,170 Israelis. Thereafter, Israel relentlessly bombarded Gaza by air, land, and sea, killing at least 33,137 people, mostly women and children so far. Israel says that around 250 of its citizens and foreigners were taken hostage by militants on October 7.

Finland says it will extend the closure of its border crossing points with Russia beyond the current April 14 deadline “until further notice” due to a high risk of organized migration orchestrated by Moscow

survey of around 19,000 respondents conducted in 19 countries shows that 80 per cent support cutting plastic production to save biodiversity and the climate. Around 80 per cent of the participants are concerned about the impact of plastic on the health of loved ones, according to the survey conducted by the independent environmental network Greenpeace International in January and February. The survey collected responses from 19,088 participants from the UK, the UAE, Canada, India, Brazil, Egypt, Germany, Mexico, South Africa, Philippines, Indonesia, Japan, Thailand, South Korea, China, Malaysia, Austria, Norway and the US. The survey shows strong support for cutting the production of plastic, with more than eight in 10 people (82 per cent), and for protecting biodiversity and the climate by reducing plastic production (80 per cent).

Bitcoin is becoming a valuable tool to escape high inflation in countries with less stable currencies, according to Ark Invest CEO Cathie Wood.

book from Egypt that was written at the dawn of Christianity and is considered one of the oldest books in existence will go up for auction in June in London. The Crosby-Schoyen Codex — written in Coptic on papyrus around 250-350 AD, and produced in one of the first Christian monasteries — has an estimated sale value of $2.6 million to $3.8 million, according to Christie's. «It's right at that period, that transitional period, when papyrus scroll starts turning into codex form,» said Eugenio Donadoni, Christie's Senior Specialist, Medieval and Renaissance Manuscripts. «So, books as we know them today. And what we have in this book is the earliest known texts of two books of the Bible.»

biblical docuseries 'Testament: The Story of Moses' has soared to No. 2 on the Netflix Global Top 10 chart. The three-part miniseries was released on March 27, 2024, and it got 13.5 million views in its first five days on Netflix. It was also praised for its artistic approach and treatment of biblical stories and its elements.

PTI. Though the minister said that it was 'inevitable', he called for heightened efforts to achieve the goal. Jaishankar pointed out that the international momentum is now favouring India's bid for a permanent seat. Addressing intellectuals in Rajkot, the external affairs minister said India needs diligent work to secure the coveted position in the world peace body.

At the time Egypt’s pyramids were being constructed, one of the cradles of global civilization emerged the Indus Valley around the borders of Pakistan and India. Its grid-planned cities produced sewerage networks, delicate artworks and an undeciphered writing system. Then, a 900-year drought [is thought to have] emptied its urban areas and sent its population back to a simpler, poorer village life on the plains of the River Ganga.