Page 7 - Egypt

PM Modi's first state visit to Egypt to boost bilateral ties: Indian envoy

India's multi-faceted relations with Egypt, which was elevated to a Strategic Partnership' this year, will receive further impetus with the first state visit of Prime Minister Narendra Modi to this key Middle East nation, India's ambassador here has said. Prime Minister Modi will be arriving here Saturday evening at the invitation of President Abdel Fattah El-Sisi. It will be the first bilateral visit by an Indian prime minister since 1997. "We are very much looking forward to the visit of Prime Minister Modi to Cairo from 24th to 25th of June. The visit is a very historic occasion because the last bilateral visit by an Indian Prime Minister was as far back as 1997," Ajit Gupte, India's Ambassador to Egypt, to PTI in an interview. Modi will hold talks with El-Sisi on Sunday to discuss ways to give further impetus to the strategic partnership between the two major nations. "I am excited to pay a state visit to a close and friendly country for the first time," Modi said in his depart

Prime Minister Modi leaves for Egypt after concluding US state visit

Prime Minister Narendra Modi on Saturday left for Egypt after concluding his US State Visit during which he held talks with President Joe Biden and addressed the Joint Session of Congress. This is the prime minister's first visit to Egypt. The two-day State Visit to Egypt at the invitation of President Abdel Fattah El-Sisi is also the first bilateral visit by an Indian prime minister since 1997. Modi was in the US at the invitation of President Biden and First Lady Jill Biden. His visit to the US started in New York, where he led a historic event at the UN Headquarters to commemorate the 9th International Day of Yoga on June 21. Later, in Washington DC, he was given a red-carpet welcome at the White House by President Biden. The two leaders held a historic summit on Thursday, followed by Modi's address to Congress and a State Dinner hosted at the White House by the Bidens in his honour. The visit was marked by several major deals to boost cooperation in key areas such as defence

PM Modi to pay tribute to World War I's Indian soldiers during Egypt visit

Prime Minister Narendra Modi during his first visit to Egypt beginning on Saturday will pay tribute to the brave Indian soldiers who fought and lost their lives in Egypt and Palestine during World War I. Modi's two-day state visit to Egypt at the invitation of President Abdel Fattah El-Sisi is the first bilateral visit by an Indian prime minister since 1997. He will visit the Heliopolis Commonwealth War Grave Cemetery here, a solemn site that serves as a memorial to nearly 4,000 soldiers from the Indian Army who served and perished in Egypt and Palestine during World War I. "We are informed that the Prime Minister will soon come to visit the cemetery. Egyptians are generous people and will welcome him," Marwan, a local resident, said. "The Commonwealth Cemetery is known to be for the soldiers who fought here during the World War. We always welcome visitors and tourists here and in Egypt in general, especially the Indian Prime Minister. We are honoured to have him visit us anywhere

Egypt to offer exclusive industrial cluster to India in Suez Canal EZ

The chairman of the SCZONE said the SCEZ is a strategic location for India to reach out to markets in Europe, Africa, and the Middle East

Together we stand stronger: PM Modi as he leaves for US on 1st state visit

PM Modi will commence his visit in New York, where he will celebrate the International Day of Yoga on June 21 at the headquarters of the United Nations

Modi to lead Yoga day celebrations at UN, address US Congress next week

After finishing state visit to the US, Modi will be in Egypt for two days

PM Modi to visit US, Egypt from June 20 to 25 in separate state visits: MEA

Prime Minister Narendra Modi will undertake separate state visits to the United States and Egypt from June 20 to 25, the Ministry of External Affairs (MEA) announced on Friday. Modi's visit to the US will commence in New York, where he will lead the celebrations of the International Day of Yoga at the headquarters of the United Nations on June 21. In December 2014, the UN General Assembly had adopted a resolution proclaiming June 21 as the International Day of Yoga. "The prime minister will thereafter travel to Washington D.C., where he will receive a ceremonial welcome at the White House on June 22, and meet President Biden to continue their high-level dialogue. President Biden and First Lady Dr. Jill Biden will host a State dinner in honour of the prime minister the same evening," the MEA said in a statement. It said Prime Minister Modi will address a joint sitting of the US Congress on June 22 at the invitation of Congressional leaders, including Speaker of the House of ...

Egyptian supply minister says no credit line has been opened with India

Egyptian Supply Minister Ali Moselhy said on Monday that no credit line had been opened with India but discussions were ongoing regarding payments for imports using currencies other than the dollar

India providing credit line to help economy: Egyptian supply minister

The Middle East's most populous nation is racing to turn around an economy that was heavily exposed to the shock waves of Russia's invasion of Ukraine

Suez Canal economic zone rakes in $2.5 bn foreign investment in 11 months

The General Authority of the Suez Canal Economic Zone (SCZone) in Egypt said it has attracted $2.5 billion of foreign investment from July 2022 to May 2023

Egypt's Suez Canal resumes traffic after stranded oil tanker freed

An oil tanker that broke down in Egypt's Suez Canal has been towed away, Chairman of the Suez Canal Authority (SCA) Osama Rabie said

Industrialist Yash Birla gets Bombay HC nod to travel to UK, Egypt

The Bombay High Court has permitted industrialist Yashovardhan Birla, who is facing several cases of fraud and money laundering, to travel to the United Kingdom and Egypt till July 1, noting that he was not a flight risk or likely to abscond. A vacation bench of Justices Abhay Ahuja and Milind Sathaye on May 26 suspended the Look Out Circular (LOC) issued against Birla till July 1 and directed the immigration authorities to permit him to pass through immigration and board his flight. The court, while granting Birla permission to travel only to Egypt and UK, noted that he has travelled and returned to India on many occasions and has complied with all the conditions imposed on him. The applicant (Birla) has abided by the terms and conditions imposed on him during earlier travels abroad and has his family in India, the court said. Prima facie, therefore, at this stage, it does not appear to us that the applicant (Birla) is a flight risk or likely to abscond or not present himself befo

Egyptian parliament introduces tax, fee hikes to boost govt revenues

The Egyptian Parliament has approved new tax and fee hikes on a number of imported goods and entertainment activities to boost government revenues amid strained public finance.

Ship briefly runs aground in Egypt's vital Suez Canal, refloated later

The Xin Hai Tong 23 ran aground at the southern mouth of the Suez Canal, tracking data showed

Govt clears MoU signing between competition regulators of India, Egypt

The Union Cabinet on Wednesday approved signing of a pact between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA). The Memorandum of Understanding (MoU) between the two regulators is aimed at promoting and strengthening of co-operation in competition law and policy through exchange of information, sharing of best practices as well as through various capacity building initiatives, an official release said. According to the release, the MoU also aims to develop and strengthen linkages between CCI and ECA as well as learn and emulate from each other's experiences in the enforcement of competition law. Ultimately, the resultant outcomes will benefit consumers at large and promote equity and inclusiveness, it added.

Israeli-Palestinian fighting continues, despite Egyptian cease-fire

Palestinian militants fired hundreds of rockets from the Gaza Strip into Israel on Wednesday, while Israel pressed ahead with a series of airstrikes that have killed 21 Palestinians, including three senior militants and at least 10 civilians. As the fighting continued, a state-run Egyptian TV station announced that Egypt had brokered a cease-fire. But shortly after the announcement, more rockets were fired toward Israel, including a new salvo at the seaside metropolis of Tel Aviv, while Israel struck more targets in Gaza. The continued fighting raised questions about if or when a truce would take effect. In a prime-time TV address, Israeli Prime Minister Benjamin Netanyahu claimed that Israel had dealt a harsh blow to the militants. But he cautioned: "This round is not over. We say to the terrorists and those who send them. We see you everywhere. You can't hide, and we choose the place and time to strike you, he said, adding that Israel would also decide when calm is ...

More than 10K people enter Egypt in 5 days as violence in Sudan continues

Deadly clashes broke out between the Sudanese Army and paramilitary Rapid Support Forces on April 15 in the capital city of Khartoum and other Sudanese regions. More than 400 people have been killed

Egypt's Central Bank raises interest rates to curb surging inflation

Egypt's Central Bank said it raised interest rates on Thursday as the embattled Middle Eastern country continues to battle surging inflation and a depreciating currency. In an online statement, the bank's monetary policy committee said the most basic lending rate, the overnight deposit rate, has increased from 16.25% to 18.25%. The hike aims to ease spiraling inflation, with the annual figure reaching 32.9% in February, up from 26.5% in January. Nearly a third of Egyptians live in poverty, according to official figures, and are struggling to keep up with rising prices, which have soared since Russia invaded Ukraine last year. The prices of basic items such as grains, meat, poultry, fish and fruit, have risen drastically over recent months. Since the outbreak of the war in Europe, the Egyptian pound has lost more than 50% of its value against the dollar. The currency slide accelerated after Egypt first announced it had reached a $3 billion bailout agreement with the International .

United Nations says Syria agrees to open 2 new crossings for quake aid

Syria's president has agreed to open two new crossing points from Turkey to the country's rebel-held northwest to deliver desperately needed aid and equipment for millions of earthquake victims, the United Nations announced Monday. UN Secretary-General Antonio Guterres welcomed the decision by Syrian leader Bashar Assad to open crossing points at Bab Al-Salam and Al Rae for an initial period of three months. Currently, the UN has only been allowed to deliver aid to the northwest Idlib area through a single crossing at Bab Al-Hawa. Guterres said in a statement the toll from the quake continues to mount, delivering food, health, nutrition, protection, shelter, winter supplies and other life-saving supplies to all the millions of people affected is of the utmost urgency. Opening these crossing points along with facilitating humanitarian access, accelerating visa approvals and easing travel between hubs will allow more aid to go in, faster, the UN chief said. The announcement follow

Egypt may allocate land to Indian industries in Suez Canal Economic Zone

Egyptian side considers the possibility of allocating a special area of land for Indian industries in the Suez Canal Economic Zone, the Indian side can arrange for the master plan, says the statement