Day: February 20, 2023

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Dollar prices stable at start of Monday’s transactions in Egypt’s major banks

The dollar exchange rate was stable at the start of Monday’s transactions at Egypt’s major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.42 for buying and EGP 30.52 for selling.

At the Commercial International Bank (CIB), the dollar exchange rate recorded EGP 30.52 for buying and 30.62 for selling.

According to the Central Bank of Egypt (CBE), the average dollar rate at the Egyptian market registered EGP 30.50 for buying and EGP 30.60 for selling.

The euro price registered EGP 32.47 for buying and EGP 32.63 for selling at Banque Misr and the NBE.

The euro price at the CIB amounted to EGP 32.57 for buying and EGP 32.75 for selling.

According to the CBE, the average euro rate at the Egyptian market registered EGP 32.62 for buying and EGP 32.73 for selling.

The pound sterling at the NBE and Banque Misr registered EGP 36.54 for buying and EGP 36.77 for selling.

At the CIB, the pound sterling exchange rate amounted to EGP 36.66 for buying and EGP 36.89 for selling.

According to the CBE, the average pound sterling rate at the Egyptian market registered EGP 36.71 for buying and EGP 36.84 for selling.

The Saudi riyal price stood at EGP 8.09 for buying and EGP 8.14 for selling at the NBE.

Source: State Information Service Egypt

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Petroleum ministry continues strategy to create attractive atmosphere for foreign investments

Minister of Petroleum and Mineral Resources Tarek el Mulla asserted that his ministry continues with its strategy to create an attractive atmosphere for foreign investments in the different petroleum activities.

The petroleum sector still has several investment opportunities in the activities of research, discovery, refining and petrochemicals in addition to projects of digital transformation and reducing emissions.

This came in statements on Monday during Mulla’s meeting with Irish Ambassador to Egypt Nuala O’Brien to discuss means to boost cooperation between Egypt and Ireland in the fields of petroleum, gas and renewable energy in addition to means of attracting the investments of Irish companies to Egypt

Meanwhile, O’Brien lauded the success of the Egypt Petroleum Show (EGYPS) 2023, adding that her country is looking forward to boosting cooperation in Egypt in the field of natural gas, energy transformation and reducing carbon emissions.

Source: State Information Service Egypt

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Education min.: Technical education engine for economic progress in Egypt

Education Minister Reda Hegazi said that the technical education is the locomotive of economic progress in Egypt, stressing that what is being accomplished today is a change in the mental stereotype of technical education among students and parents.

This came during the minister’s participation in activities of the second International Conference on Education and Technology (EDUTEC 2023).

The conference falls within the framework of cooperation between the Education Ministry and international parties backing technical education, a top of which the German Agency for International Cooperation (GIZ), the US Agency for International Development (USAID), the KfW Development Bank, the European Union (EU) and the support unit at the Italian embassy in Cairo.

He underlined the political leadership’s keenness on developing technical education since 2014, a matter that resulted in an unprecedented momentum in this domain.

He cited the new strategy and plan for developing the technical education, which has been applied by the Education Ministry since 2018, with the aim of encouraging and developing the technical education, along with paying attention to its quality as per international standards.

The conference acts as a major forum for the presentation of innovative ideas, approaches, developments, and research projects in the areas of education. It also aims to provide a platform for exchanging ideas in the new emerging trends that needs more focus and exposure and will attempt to publish proposals that strengthen our goals.

Source: State Information Service Egypt

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Health Ministry took preemptive measures to detect any Marburg virus case

Health Ministry Spokesman Hossam Abdel Ghaffar said on Sunday that the ministry had taken a number of preemptive measures at all air, sea and land ports to detect any Marburg virus case especially among passengers coming from Equatorial Guinea.

In statements to ON TV satellite channel, he added that the virus spreads among humans through human-to-human transmission and not through air.

He noted that the virus has the capacity to cause outbreaks with high fatality rates but not widely-spread like Covid-19.

Marburg virus is a hemorrhagic fever virus that is considered to be extremely dangerous. The World Health Organization (WHO) rates it as a Risk Group 4 Pathogen.

The virus can be transmitted by exposure to one species of fruit bats or it can be transmitted between people via body fluids through unprotected sex and broken skin. The disease can cause haemorrhage, fever, and other symptoms similar to Ebola, which belongs to the same family of viruses.

Source: State Information Service Egypt

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Military production minister says keen on sharing advanced tech

Military Production Minister Mohamed Salaheddin Moustafa has said that his Ministry is keen on sharing its advanced technology with its affiliated firms.

Moustafa was speaking during his participation in the International Defense Exhibition (IDEX 2023), which kicked off in Abu Dhabi, the UAE, earlier in Monday.

IDEX is a biennial arms and defense technology sales exhibition in the Middle East and it takes place in Abu Dhabi.

It continues to benefit an increasing number of international decision-makers from within the defense industry, governments, armed forces and military personnel.

This year’s exhibition is set to wrap up work on February 24.

Source: State Information Service Egypt

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PM follows up implementation of urban development projects

Prime Minister Mostafa Madbouli asserted the keenness of the government to remove all challenges hampering the implementation of urban development projects which aim at improving people’s living conditions and creating more investment opportunities to increase employment rates and serve the ultimate and overarching goals of development.

This came during Madbouli’s meeting on Monday with Chairman of the Board of Directors of the Urban Development Fund Khaled Seddik to follow up the implementation of a number of urban development projects in the governorates.

Seddik reviewed the progress of work in the project of renovating the district of “Fustat Parks” in Old Cairo.

Madbouli asserted the importance of intensifying work to finish the renovations as soon as possible, saying that he periodically follows up the implementation of the project which aims at creating the largest green breathing space in Cairo by establishing gardens on an area of about 500 acres.

Source: State Information Service Egypt

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PM follows up on measures to establish free zone to store wheat

The establishment of a logistics free zone to store wheat will represent a great added value, affirmed Prime Minister Mostafa Madbouli.

The premier further referred to the possibility of benefiting from such area through setting up stores and warehouses for different oils.

The premier’s remarks came as he presided over a meeting on Monday to follow up on the necessary measures to establish a logistics free zone to store wheat and oils.

The meeting was held in the presence of Supply and Internal Trade Minister Ali el Moselhi and Chairman of the General Authority of Suez Canal Economic Zone (SCZONE) Walid Gamal el Din.

During the meeting, Madbouli referred to the directives issued by President Abdel Fattah El Sisi in which he emphasized the importance of establishing a logistics free zone to store wheat either in the SCZONE or elsewhere.

Given its strategic location, the SCZONE represents a perfect opportunity for several countries to benefit from its potential and capabilities in storing wheat and other grains and transferring them into a number of international markets, the premier cited President Sisi as saying.

Source: State Information Service Egypt

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FM receives phone call from his Venezuelan counterpart

Foreign Minister Sameh Shoukry received a phone call on Monday from his Venezuelan counterpart Yvan Gil, said Spokesman for the Foreign Ministry Ahmed Abu Zeid.

At the beginning of the phone call, Shoukry congratulated his Venezuelan counterpart on assuming his new post, the spokesman said.

The two ministers discussed a number of files between the two countries, expressing their aspiration to push forward cooperation in various domains, he added.

They also discussed the existing cooperation between the two countries in international gatherings and organizations, as well as means of enhancing mutual support on issues of shared concern, the spokesman said.

The two ministers agreed on continuing coordination and consultations at the level of senior officials during the coming stage, he concluded.

Source: State Information Service Egypt