Egypt Financial News

Egypt's local currency is sliding against the U.S. dollar after recent increases in fuel prices and subway fares

Hamas's political leader in an attack blamed on Israel has prompted fears of a wider regional conflict and sidelined talks aimed at ending the nearly 10-month war in Gaza. Since Hamas's deadly October 7 attack on Israel sparked devastating retaliation in Gaza, Qatar has acted as an important interlocutor with the Palestinian militant group. The movement's slain political chief Ismail Haniyeh was based in the Gulf emirate.

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West Bank killed nine Palestinian militants on Saturday, Israel's army said, as violence flared again in the Israeli-occupied territory with tensions high over the war in Gaza and a potential regional escalation. Cease-fire discussions on Gaza continued, with an Israel delegation led by the Mossad chief briefly visiting Cairo, an Egyptian official said. The U.S. has urged Israel to seize the chance for a cease-fire after the shock killing of Hamas' political leader in Iran, which Tehran blames on Israel. That killing and Israel's assassination of a Hezbollah commander in Lebanon have the region holding its breath for retaliation against Israel on either front, or both, after Iran and its proxies vowed to act. Hamas said its command had begun discussions on choosing a new leader.

ancient Egyptian woman have preserved what may have been her final expression before death: an anguished shriek.The mummy, known as the “Screaming Woman,” has been the subject of intense curiosity since it was first discovered in 1935. Her mouth hangs wide open with her mostly-intact top teeth bared, as if she were howling in pain.

Israel on October 7th, that “terrorism pays". Ireland, Norway and Spain are joining the majority of countries: almost three-quarters of members of the UN recognise Palestine. What exactly does that mean—and who are the holdouts? There are no binding rules about when one country should recognise another, but international law provides some guidelines.

crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. Brent crude futures for September rose 46 cents to $81.47 a barrel by 0020 GMT. U.S. West Texas Intermediate crude for September increased 42 cents to $77.38 per barrel.

«It was largely the 125cc segment that has maintained and despite that the company has reported that kind of growth in overall motorcycle sales,» says Abhishek Gaoshinde, Sharekhan By BNP Paribas. Help us with your first cut on the earnings of Bajaj Auto. How do you see the numbers versus your estimates as well as what was the standout point for you in the earnings and the press release? Abhishek Gaoshinde: Broadly what we can see that the numbers were in line with the estimate given that kind of a volume growth and the product mix that the company has reported.

Hamas has given initial approval for a US-backed proposal for a phased cease-fire deal in Gaza, dropping a key demand that Israel gives an up-front commitment for a complete end to the war, a Hamas and an Egyptian official said Saturday. The apparent compromise by the militant group — which controlled Gaza before triggering the war with an October 7 attack on Israel — could help deliver the first pause in fighting since last November and set the stage for further talks on ending a devastating nine-month war. But all sides cautioned that a deal is still not guaranteed. The two officials, who spoke on conditions of anonymity to discuss the ongoing negotiations, said Washington's phased deal will first include a «full and complete» six-week cease-fire that would see the release of a number of hostages, including women, the elderly and the wounded, in exchange for the release of hundreds of Palestinian prisoners.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

COP, the annual climate catharsis festival. This year's group event is set to happen at Baku's Olympic Stadium in oil-and-gas-rich Azerbaijan from November 11 to 22. Olympic Stadium… hang on, did the ex-Soviet Union state ever...? No, the country has never hosted the 'pics.

joint exercise between the Air Forces of the two nations being held from June 21-26. India's Ambassador to Egypt, Ajit Gupte, visited Berighat Air Base to interact with the Indian Air Force (IAF) contingent. In a post on X, Indian Embassy in Egypt stated, "India-Egypt defence cooperation continue to strengthen, with 4th joint exercises b/w IAF and EAF being held in Egypt from 21 to 26 June 2024. Amb @AjitVGupte visited Berighat Air Base to interact with IAF contingent. C 17, IL-78 and Rafales are participating in HOPEX with EAF."

While he survived the gruelling annual rites that unfolded in extreme heat again this year, he has not seen his wife since Sunday and fears she is among the more than 1,000 reported fatalities — the majority unregistered Egyptians like himself.

Hajj this year owing to the extreme heat conditions, the Ministry of External Affairs (MEA) said on Friday. «A large number of pilgrims visit Hajj every year. This year, 175,000 Indian pilgrims have visited Hajj so far. We have 98 Indian pilgrims who have died this year,» said MEA Spokesperson Randhir Jaiswal in a weekly briefing. In Mecca, temperatures hit 51.8 degrees Celsius (125 Fahrenheit), on Monday.

Ahmadi Governorate in the Gulf Kingdom, a media report said on Wednesday. The massive fire which occurred at a six-storey building in the city of Mangaf on July 12 was caused by an electrical short circuit in the guard's room on the ground floor. The building was home to 196 migrant workers, mostly Indians. «The Public Prosecution has ordered the detention of a Kuwaiti national, three Indian nationals, and four Egyptian nationals for two weeks in connection with the Al-Mangaf building fire case,» English language daily Arab Times reported without identifying their names.

UN on Sunday welcomed an Israeli decision to «pause» fighting around a south Gaza route daily for aid deliveries, but urged more «concrete measures» to unblock the humanitarian response. Israel's military announced Sunday a «local, tactical pause of military activity» during daylight hours in an area of Rafah to facilitate the delivery of humanitarian assistance in the war-torn Palestinian territory.

Eid-ul-Adha, a significant Islamic festival, is observed on the tenth day of Dhu-al-Hijjah, the last month of the Islamic lunar calendar. This festival, also known as the Feast of Sacrifice, is celebrated the day after the annual Hajj pilgrimage concludes. It commemorates Prophet Ibrahim's willingness to sacrifice his son, Ismail, as an act of obedience to Allah. At the moment of sacrifice, Allah replaced Ismail with a ram, symbolizing divine intervention and reward for unwavering faith.

fire incident in Kuwait on June 12, were held at their respective hometowns in Kerala on Saturday where hundreds came to bid adieu. The bodies of 23 Keralites who lost their lives in the fire that happened in one of the residential accommodations of a company at Mangaf in Kuwait, were brought to the state on Friday in a special flight from the Gulf nation. The funerals of 12 Keralites were held on Friday itself, while four of them were held today. The funerals of Lucas and Sajan George from Kollam, Aneesh Kumar from Kannur and Akash S Nair from Pathanamthitta were held today.

Israel called Hamas' response to the latest peace proposal for the Gaza Strip «negative.» Hamas insisted it was dealing with it «positively.» U.S. Secretary of State Antony Blinken, speaking in Qatar, said Hamas had demanded changes, some of which were «workable» and some not. A Hamas official told an Arabic television channel that the group had not raised any new ideas, and that Blinken saw things through an Israeli lens and «speaks Hebrew.» The Biden administration has pledged to keep working with Qatari and Egyptian mediators to bridge the gaps. But after days of intensive diplomacy in the region, a monthslong effort to end the war in Gaza seems as stuck as ever, as each side clings stubbornly to maximalist demands unacceptable to the other.

Hamas proposed «numerous changes» in its response to a ceasefire proposal to end the Gaza war including some unworkable changes, U.S. Secretary of State Antony Blinken said on Wednesday, but he insisted Washington and mediators will press ahead to bridge gaps between the Palestinian militant group and Israel.