Page 8 - Egypt

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

India's renewed relations with Egypt: A perspective of 2 developing nations

The visit of Egypt's President Abdel Fattah El-Sisi to India as a guest of honour in India's Republic Day celebrations came at a crucial time for the two developing nations decades long partnership

Egyptian President Abdel Fattah El-Sisi witnesses Republic Day parade

Egyptian President Abdel Fattah El-Sisi on Thursday joined a select group of world leaders to have graced India's Republic Day celebrations. Sisi, as the chief guest at the Republic Day celebrations, watched the colourful parade at the majestic Kartavya Path along with President Droupadi Murmu, Prime Minister Narendra Modi and a host of other leaders. It was the first time that an Egyptian president is the chief guest at the Republic Day celebrations. Sisi held wide-ranging talks with Modi on Wednesday, a day after he arrived here on a three-day visit. Every year, India invites world leaders to attend its Republic Day celebrations. There was no Republic Day Chief guest in 2021 and 2022 in view of the COVID-19 pandemic. In 2020, then Brazilian President Jair Bolsonaro was the chief guest at the Republic Day celebrations. In 2019, South African President Cyril Ramaphosa was the chief guest at the Republic Day parade, while in 2018, leaders of all 10 ASEAN countries attended the ..

Modi hold talks with Egyptian Prez Sisi, focuses to improve bilateral ties

Prime Minister Narendra Modi on Wednesday held wide-ranging talks with Egyptian President Abdel Fattah El-Sisi, focusing on ways to enhance bilateral ties in a range of areas, including agriculture, digital domain, culture and trade. The 68-year-old influential Arab leader, who arrived here on Tuesday on a three-day visit, is the chief guest at the Republic Day celebrations. "Deepening our bond with Egypt -- the natural bridge that connects Asia with Africa. PM @narendramodi and President @AlsisiOfficial hold talks adding momentum to the multifaceted India-Egypt relations marked by civilisational, cultural & economic linkages and deep-rooted P2P ties," External Affairs Ministry spokesperson Arindam Bagchi tweeted. The Egyptian president visited India in October 2015 to participate in the third India-Africa Forum Summit. This was followed by his state visit in September 2016. This is the first time that the Egyptian president has been invited as the chief guest to India's Republic .

Egyptian President Abdel Fattah al-Sisi heads to India amid investment push

Egypt is trying to drum up foreign investment as it tries to manage a dollar shortage that has led to a sharp depreciation of the Egyptian pound

India eyes economic, military ties with Egypt during El-Sisi's visit

The Egypt President being chief guest at the Republic Day parade portends a beneficial partnership

India, Egypt carry maiden joint exercise among special forces in Rajasthan

The first-ever joint exercise between the special forces of the Indian Army and the Egyptian Army named "Exercise Cyclone-I" is underway in Rajasthan, according to an official statement. The exercise, which began on January 14, is aimed at bolstering defence cooperation between the two nations and focus on sharing professional skills and interoperability of the special forces in desert terrain while undertaking counter-terrorism, reconnaissance, raids and other special operations, the statement added. This is the first exercise of its kind bringing the special forces of both the nations on a common platform. "The 14-day exercise which is being carried out in the deserts of Rajasthan engages both the contingents to advance special forces skills such as sniping, combat free fall, reconnaissance, surveillance and target designation, sharing of information on weapons, equipment, innovations, tactics, techniques and procedures," the release said. The participants would also undertake jo

Egyptian Prez, 180-member military contingent to be part of Republic Day

Abdel Fattah El-Sisi is scheduled to arrive in New Delhi on January 24 and will be greeted by Minister of State for External Affairs Rajkumar Ranjan Singh

Joint exercise between special forces of India, Egypt underway in Rajasthan

The first-ever joint exercise between the special forces of the Indian Army and the Egyptian Army named "Exercise Cyclone-I" is underway in Rajasthan, according to an official statement. The exercise which began on January 14 is aimed at bolstering defence cooperation between the two nations and focus on sharing professional skills and interoperability of the special forces in desert terrain while undertaking counter-terrorism, reconnaissance, raids and other special operations, the statement added. This is the first exercise of its kind bringing the special forces of both the nations on a common platform. "The 14-day exercise which is being carried out in the deserts of Rajasthan engages both the contingents to advance special forces skills such as sniping, combat free fall, reconnaissance, surveillance and target designation, sharing of information on weapons, equipment, innovations, tactics, techniques and procedures," the release said. The participants would also undertake join

WEF 2023: ReNew Power explores green hydro project in India, Egypt

The firm, which now generates nearly 1.8% of India's total electricity annually, has a total capacity of 13 Gigawatts (GW) of wind and solar, including projects in the works

India, Egypt to hold first-ever exercises with special forces: Ambassador

Talking about the bilateral trade target, Ambassador said that the $12 billion doesn't represent the potential of both of the countries