Explore Business Standard
Israeli Prime Minister Benjamin Netanyahu said on Wednesday that he has approved a USD35 billion natural gas export deal to Egypt, the biggest gas deal in Israeli history. The agreement could also help repair relations between the two countries strained during the two-year war in the Gaza Strip. The gas will be delivered to Egypt over the next 15 years by US energy giant Chevron, a key owner of the gas field off Israel's coast in the Mediterranean Sea. Half of the proceeds are expected to go to Israel's state coffers. In a recorded video statement, Netanyahu said the deal "greatly strengthens Israel's position as a regional energy power, and it contributes to stability in our region. Egypt, which borders both Israel and Gaza, has served as a key mediator between Israel and the Palestinian militant Hamas group leading up to the US-brokered ceasefire that was agreed on in October. Cairo has also has been a vocal critic of Israel's offensive, which has killed tens of thousands of ...
External Affairs Minister S Jaishankar on Saturday (local time) held a series of meetings with his counterparts from Egypt and Europe on the sidelines of the Sir Bani Yas Forum in the UAE.Sharing details in a post on X, Jaishankar said he was pleased to meet Egypt's Foreign Minister Dr Badr Abdelatty at the forum."Nice to catch up with FM Dr Badr Abdelatty of Egypt at Sir Bani Yas Forum," he said.In a separate post, the EAM said he also met with several European leaders during the event, including Deputy Prime Ministers and Foreign Ministers from Luxembourg and Poland, as well as the Foreign Minister of Latvia."Great to be with European colleagues DPM & FM Xavier Bettel of Luxembourg, DPM & FM Radoslaw Sikorski of Poland and FM Baiba Braze of Latvia," Jaishankar said.Earlier, Jaishankar met with UK Deputy PM and Foreign Secretary David Lammy on the sidelines of the forum.He announced his interaction with Lammy in a post on X, stating, "Good to see UK DPM David Lammy on the
President Donald Trump arrived in Egypt on Monday for a global summit on Gaza's future as he tries to advance peace in the Middle East after visiting Israel to celebrate a US-brokered ceasefire with Hamas. The whirlwind trip, which included a speech at the Knesset in Jerusalem earlier in the day, comes at a fragile moment of hope for ending two years of war between Israel and Hamas. More than two dozen countries are expected to be represented at the summit, which Trump is hosting along with Egyptian President Abdel-Fattah el-Sissi. Israeli Prime Minister Benjamin Netanyahu was invited but declined, with his office saying it was too close to a Jewish holiday. Despite unanswered questions about next steps in Gaza, which has been devastated during the conflict, Trump is determined to seize an opportunity to chase an elusive regional harmony. You've won, he told Israeli lawmakers at the Knesset, which welcomed him as a hero. Now it is time to translate these victories against terrorist
President Donald Trump set off for Israel and Egypt on Sunday to celebrate the US-brokered ceasefire and hostage deal between Israel and Hamas and urge Middle East allies to seize the opportunity to build a durable peace in the volatile region. It's a fragile moment with Israel and Hamas only in the early stages of implementing the first phase of the Trump agreement, designed to bring a permanent end to the war sparked by the October 7, 2023, attack on Israel by Hamas-led militants. Trump thinks there is a narrow window to reshape the Mideast and reset long-fraught relations between Israel and its Arab neighbours. It is a moment, the Republican president says, that has been helped along by his administration's support of Israel's decimation of Iranian proxies, including Hamas in Gaza and Hezbollah in Lebanon. Very excited about this moment in time, Trump told reporters before Air Force One took off. He said many people in both Israel and Arab countries were cheering the agreement,
Israeli and Hamas officials launched indirect talks Monday at an Egyptian resort on a US-drafted peace plan to end the ruinous war in Gaza on the eve of its second anniversary. Many uncertainties remain about the plan presented by US President Donald Trump last week, including the disarmament of the militant group a key Israeli demand and the future governance of Gaza. Trump has indicated an agreement on Gaza could pave the way for a Middle East peace process that could reshape the region. Despite Trump ordering Israel to stop the bombing, Israel continued to pound Gaza with airstrikes, killing at least 19 people in the last 24 hours, the territory's Health Ministry said. An Egyptian official said talks began at the Red Sea resort of Sharm el-Sheikh Monday afternoon. The official spoke on condition of anonymity because he was not authorised to speak publicly about the talks. The Israelis are led by top negotiator Ron Dermer, while Khalil al-Hayyah leads the Hamas delegation. Ha
Iran and the International Atomic Energy Agency signed an agreement Tuesday in Cairo to pave the way for resuming cooperation, including on ways of relaunching inspections of Iran's nuclear facilities. The announcement followed a meeting among Egyptian Foreign Minister Badr Abdelatty, his Iranian counterpart Abbas Araghchi and International Atomic Energy Agency Director General Rafael Grossi. No further details were provided about the agreement, but Grossi said at a joint news conference after the signing that it was technical in nature and highlighted the indispensable inspection work that needs to resume in Iran under the treaty of non-proliferation of nuclear weapons. It's a step in the right direction," Grossi said. The Egyptian foreign ministry, meanwhile, said the agreement followed intensive diplomatic efforts by that county. And Egyptian President Abdel-Fattah el-Sissi noted Tuesday that the IAEA plays a major role in supporting nuclear non-proliferation provisions, while
An oil-drilling ship capsized in the Gulf of Suez, killing at least four crewmen and leaving four others missing, authorities said Wednesday. The drilling ship overturned Tuesday evening off the city of Ras Ghareb, on the African side of the Gulf of Suez, the Red Sea's northwestern arm and a crucial shipping route, the Petroleum Ministry said in a statement. There were 30 workers on board when the drilling ship capsized, said Amr Hanafy, governor of the Red Sea province. Rescue teams recovered four bodies and rescued two 22 others who were taken to hospitals, he said. He said ships from the Egyptian navy joined the search-and-rescue efforts which were still ongoing overnight for four missing crewmen. It wasn't immediately clear what caused the drilling ship to capsize and authorities say investigations were ongoing. Local media reported it was being tugged for excavations in another area when it overturned. The capsizing happened in an area called Gabel el-Zeit, a prominent Egypt
Egyptian foreign Minister Badr Abdelatty's two-day visit to India beginning Monday has been called off in view of the escalating tension in the Middle-East following the US's bombing of three major nuclear sites in Iran. Badr was scheduled to hold wide-ranging talks with External Affairs Minister S Jaishankar and Commerce Minister Piyush Goyal on Monday. The visit of the foreign minister of Egypt has been postponed, said an official.
Egypt blocked activists planning to take part in a march to Gaza, halting their attempt to reach the border and challenge Israel's blockade on humanitarian aid to the Palestinian territory before it could begin. Egyptian authorities and activists both said Thursday that people planning to march across the Sinai Peninsula were deported. To draw attention to the humanitarian crisis afflicting people in Gaza, marchers have for months planned to trek about 50 km from the city of Arish to Egypt's border with the enclave on Sunday to create international moral and media pressure to open the crossing at Rafah and lift a blockade that has prevented aid from entering. Saif Abu Keshek, one of the activists organising the march, said that about 200 activists mostly Algerians and Moroccans were detained or deported. But those arriving to the Cairo International Airport on Thursday afternoon were allowed into Egypt, the Spain-based activist added. Organisers have not received approval from ..
Israeli strikes across the Gaza Strip killed more than 65 Palestinians over the past day, including women and children, the Gaza Health Ministry said on Monday. In less than a week of air and ground operations since Israel broke the ceasefire with Hamas, its forces have killed hundreds of people in Gaza -- sending the death toll from 17 months of war soaring above 50,000. Meanwhile, officials said Egypt has introduced a new proposal to try and get the ceasefire back on track. Hamas would release five living hostages, including an American-Israeli, in return for Israel allowing humanitarian aid into Gaza and a weekslong pause in the fighting, an Egyptian official said. Israel would also release hundreds of Palestinian prisoners. A Hamas official said the group had responded positively to the proposal, without elaborating. Both officials spoke on condition of anonymity because they were not authorized to brief media on the closed-door talks. Meanwhile, Israel has said it fired on a
Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib, on Wednesday said his country is keen to join the India-Middle East-Europe Economic Corridor (IMEE Corridor), positioning the country as a vital link in this ambitious trade network. El-Khatib highlighted Egypt's trade infrastructure and strategic location as compelling reasons for its inclusion. Trade corridors are always welcomed, and we feel our location is unique, El-Khatib said, explicitly signalling Egypt's interest in the IMEE Corridor. We told our Indian friends yesterday: you need to look at this. Our infrastructure is already in place, connected to major ports like Alexandria, and it's ready, the Egyptian minister told PTI Videos. Unveiled on September 9, 2023, during the G20 Summit in New Delhi, the corridor was formalized through a Memorandum of Understanding (MoU) signed by India, the United States, the United Arab Emirates (UAE), Saudi Arabia, France, Germany, Italy, and the European Union (EU). The