Al Tor Port receives 1st oil rig for maintenance operations

Head of the Suez Canal Economic Zone Walid Gamaleddin said on Sunday that a special plan has been laid out to re-operate Al Tor Port through an agreement with a company working in the oil exploration domain in the Gulf of Suez.

In statements, Gamaleddin said the port received recently rig Sozer for the first time as part of a plan to receive several drilling rigs with the aim of developing Egyptian ports and making use of their geographic location.

He also said the use of new rigs would increase the efficiency of ports and promote their competitiveness with world ports in offering maintenance services for ships.

Source: State Information Service Egypt

IMF expects Egypt’s economy to grow by 4% in FY 2022/2023

The International Monetary Fund expected Egypt’s economy will grow by 4% in the 2022/2023 current fiscal year (FY), 5.3% in the fiscal year 2023/2024 and 5.7% in the fiscal year 2024/2025.

In a statement released on Tuesday 10/1/2023, the IMF anticipated Egypt’s budget revenues to hit EGP 1.6 trillion in the fiscal year 2022/2023, EGP 1.9 trillion in the fiscal year 2023/2024 and EGP 2.2 trillion in the fiscal year 2024/2025.

The IMF stated the loan agreement reached with Egypt aims to stimulate economic growth led by the private sector, stabilize the foreign exchange market and maintain price stability to absorb external shocks.

In December 2022, Egypt has reached a 46-month staff-level agreement with the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) to receive a loan worth about $ 3 billion.

The IMF projected the annual core inflation rate to decrease by 7% by the fiscal year 2024/2025 and the State budget will achieve 2.1% surplus of GDP.

Source: State Information Service Egypt

CBE governor participates in Jeddah meetings of Board of Governors of Arab Central Banks

Governor of the Central Bank of Egypt (CBE) Hassan Abdallah on Sunday 18/9/2022 took part in meetings of the 46th ordinary session of the Board of Governors of Arab Central Banks and Monetary Institutions, hosted by Saudi Arabia’s Jeddah, the CBE said in a statement.

The meetings mulled global inflation and its repercussions on monetary policies in the Arab world, risks of climate change for the financial sector and banking services sector, challenges with shifting toward green finance, and the requirements and challenges of rebuilding capital and liquidity margins in the banking sector after lifting support packages.

The governors were informed about work of the council’s committees and teams, reviewed the 2022 financial stability reports in Arab countries, and a briefing on the 2022 unified Arab speech to be delivered at the annual meetings of the IMF and World Bank Group in October, which reflects the views of Arab states on current economic developments.

Source: State Information Service Egypt

Abdel Ati, European lawmakers discuss bilateral cooperation

Egyptian Ambassador in Belgium Badr Abdel Ati had talks with a number of European Parliament members on means of promoting bilateral cooperation in various domains.

 

The meeting came on the fringe of the ambassador’s participation in the general session of the European Parliament which convened in its HQ in France, the Egyptian Foreign Ministry said on Thursday on its official Facebook page.

 

The ambassador reviewed the positive developments in Egypt at the political, economic, development and social levels.

 

He referred to key measures taken to enhance human rights, topped by the national strategy for human rights and the comprehensive political national dialogue.

 

He noted that the Presidential Pardon Committee was activated, adding that these human rights measures adopted by Egypt were appreciated by the European lawmakers.

 

He also highlighted the mega national projects which are being implemented in Egypt at the economic and social levels, referring to the establishment of 14 smart and green cities, including the New Administrative Capital.

 

The two sides underlined the importance of enhancing EU-Egyptian cooperation in the energy domain as Egypt seeks to become a regional energy hub.

 

The talks also tackled the repercussions of the Ukrainian crisis on food security in Egypt and the region as well as the support offered by Europe in this respect.

 

The Egyptian ambassador also posted the European lawmakers on the ongoing preparations for the United Nations Climate Change Conference (COP27) that will be held in Egypt in November.

 

The talks also tackled a host of regional issues on the conditions in the Middle East and Africa, the pivotal role played by Egypt in realizing stability and reaching political solutions to regional crises.

 

The talks focused on the developments in Libya, Syria and the Palestinian cause as well as the conditions in the Horn of Africa.

 

The talks also reviewed Egypt’s successful efforts in combating terrorism and illegal immigration.

 

 

 

Source: State Information Service Egypt

Ministry of Education to receive applications for teacher recruitment contest

Minister of Education and Technical Education Tarek Shawki announced that the ministry will start receiving applications for a teacher recruitment contest from July 2 until July 24.

Shawki made the announcement during a press conference held Sunday by the ministry at the Central Agency for Organization and Administration’s (CAOA) Leaders Preparation Center (LPC), in the presence CAOA chief Saleh EL Sheikh.

He noted the ministry seeks to recruit 30,000 assistant teachers, including 15,187 in preschool stages, adding that applications will be submitted via the government web portal, which will serve as a link between the CAOA and applicants to inform them about the contest phases.

Speaking about application requirements, Shawki said candidates must be Egyptians and of good conduct. They should not have been convicted of any felony or any crime involving dishonor unless he/she was exonerated.

He should not have been discharged from military service by a final disciplinary decision unless it has been issued within at least four years on the application date.

Applicants should not exceed 35 years old on the application date, should hold a relevant educational degrees or diplomas, and should pass all necessary training and tests, including medical check-ups and drug abuse testing, the minister pointed out.

 

 

 

Source: State Information Service Egypt

ICT sector has great, diversified opportunities in Egypt: minister

Minister of Communications and Information Technology Amr Talaat said the information communication technology (ICT) sector has great and diversified investment opportunities in Egypt in light of the State’s keenness to achieve its digital transformation strategy in all sectors.

Talaat made the remarks during his meeting with Latvian Foreign Minister Edgars Rinkevics, who is currently on an official visit to Egypt on top of an official trade delegation bringing together major companies in the Baltic nation.

The two sides discussed mechanisms for consolidating bilateral cooperation and exploring investment opportunities in the ICT sector.

The meeting was attended by Latvian Ambassador in Cairo Ilmars Breidaks, in addition to a group of officials from the Egyptian Ministry of Communications and Information Technology.

Talaat expressed aspiration to bolster Egypt’s relations with Latvia as well as to foster bilateral cooperation in various fields of communications and information technology, especially that Latvia is Egypt’s largest trading partner among Baltic nations.

The Egyptian minister praised the progress made by Latvia in the ICT field in recent years.

Meanwhile, the Latvian ambassador affirmed his country’s interest in strengthening bilateral cooperation with Egypt, especially in light of the interest shown by a number of Latvian companies to explore aspects of joint cooperation with Cairo.

He also voiced aspiration to promote Egypt-Latvia cooperation in the field of communications and information technology.

 

Source: State Information Service Egypt

Stone blocks dating back to King Khufu era discovered in Temple of Sun

The joint Egyptian-German expedition at Matariya discovered on Monday stone blocks made of granite dating back to the age of King Khufu in the Temple of the Sun.

As well, archaeologists have uncovered foundations of the temple courtyard dating back to the modern state era and a number of statues and altars.

The archaeological mission was conducting excavation works in the western part of the open museum at the Obelisk of King Senusret I in Matariya, a Cairo neighborhood.

Secretary General of the Supreme Council of Antiquities Dr Moustafa Waziri asserted the importance of this discovery, given the fact that it is the first time ever to discover artifacts at King Khufu era in Ain Sham district.

The discovered stones may be part of an unidentified building or may be moved from the Giza Plateau to be used as building materials in 19th and 20th dynasties of Egypt, added Waziri.

 

Source: State Information Service Egypt

Application for eighth stage of Bait el Waten start

Plots of land in a number of new cities will be available in the new stage as part of State efforts to provide housing units for Egyptians working abroad.

 

The project is carried out in coordination with the Communications Ministry and the Central Bank of Egypt.

 

The project is part of a national program launched by the New Urban Communities Authority.

 

 

 

Source: State Information Service Egypt