~egyptian-streets | Bookmarks (427)

Palestinian human rights activist Issa Amro, co-founder and former coordinator of the grassroots organization Youth Against Settlements (YAS), received the Right Livelihood Award – often referred to as the Alternative Nobel Prize – for his commitment to nonviolent resistance against Israel’s illegal occupation in the West Bank, the jury announced on Thursday, October 3. In a statement from the jury, he was chosen for...

A joint Egyptian-German archaeological mission from Sohag and Berlin Universities has unearthed the burial chamber dating back up to 4,000 years. The burial chamber belonged to Edi, the daughter of Jifai-Hapi, a prominent governor of Assiut in Upper Egypt during the reign of King Senusret I of the 12th Dynasty (1991–1778 BC). The discovery was made while the mission was conducting excavation work on...

Egypt’s real gross domestic product (GDP) grew by 2.4 percent from July 2023 to March 2024, a slowdown compared to the 4.1 percent growth during the same period last year, according to a report by the Central Bank of Egypt (CBE) released on Wednesday. The slow down is attributed to ongoing global economic pressures, including geopolitical tensions, high inflation, and elevated interest rates. The...

The Egyptian government has launched a joint programme in partnership with the United Nations (UN) and the European Union (EU) under the framework of the Joint UN-Egypt Platform for Migrants and Refugees, according to a statement released by Egypt’s Ministry of Foreign Affairs on Tuesday. This programme, supported by a EUR 12.2 million (EGP 652.5 million) grant from the EU, will be implemented by...

In a significant move to enhance housing accessibility, the New Urban Communities Authority has opened bidding for approximately 1,645 residential units.  Ranging from 50 to 161 square meters, these units are now available for interested buyers, according to Sherif El Sherbini, Egypt’s Minister of Housing, Utilities, and Urban Communities. There are flexible payment options for immediate reservations across eight new cities. The bidding period...

In a significant development for the MENA podcast market, UAE-based distribution platform Podeo has raised USD 5.4 million (EGP 174 million) in a Series A funding round led by Oraseya Capital, with contributions from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital. The new funding will help Podeo expand its reach into emerging markets, including Latin America, Eastern Europe, and...

Israel’s Foreign Minister, Israel Katz, announced on Wednesday that United Nations Secretary-General António Guterres has been declared persona non grata ( an unacceptable person) and banned from entering the country, accusing him of bias against Israel. The decision came amid rising tensions between Israel and the UN, with Katz stating that Guterres has failed to unequivocally condemn the recent attacks against Israel by Iran...

Palm Hills, one of Egypt’s leading real estate developers, has announced the launch of “The Village” at Badya, which is set to become Egypt’s first-ever ‘college town’. Located in West Cairo within Badya, one of Egypt’s first smart and sustainable cities, The Village is set to appeal to residents through a unique lifestyle offering and investors looking for properties with the potential for high-yield...

Iran’s Islamic Revolutionary Guard Corps (IRGC) confirmed on Tuesday that it has launched “dozens” of missiles towards Israel. Israel confirmed the attack, stating that approximately 10 million civilians were seeking shelter. Reports indicate up to 100 missiles may have been launched by Iran, targeting various cities and towns of Israel. Iranian state television broadcast a statement from the IRGC, confirming the missile strike was...

The International Monetary Fund (IMF) will conduct its fourth review of Egypt’s economic reform program next month, a government official told Asharq Business. Completing this review would unlock a USD 1.3 billion (EGP 62.7 billion) tranche for Egypt — the fourth and largest disbursement under the current loan agreement. In July, the IMF approved the release of the third tranche to Egypt, also valued...

Over one million people in Lebanon have been displaced due to the ongoing and devastating Israeli airstrikes, according to a statement from the United Nations. Families, health workers, the elderly, and children alike are struggling to find safe and secure shelter. According to the UN refugee agency, UNHCR, approximately 100,000 displaced individuals have fled to neighboring Syria. UN High Commissioner for Refugees, Filippo Grandi,...

During times of crisis, gold emerged as a safe haven for both individuals and investors seeking financial stability.  In 2023, Egyptians set a record by purchasing 57 tons of gold, reflecting a 10.7 percent rise over the previous year, as financially capable Egyptians have started purchasing gold jewelry from local jewelers or investing in gold-backed certificates offered by investment funds. After the Financial Regulatory...

Egypt plans to offer peninsula-based Berenice as one of five key coastal concessions by the Red Sea in its ongoing strategy to draw in potential investors, Senior Assistant to the Housing Minister, Abdel Khalek Ibrahim, told Asharq Business on 29 September. Known for its pristine beaches, vibrant coral reefs, and rich historical sites, the Red Sea region is already a hotspot for tourism, making...

Israel carried out an on-ground invasion of Lebanon on the morning of 1 October, the Israeli Defense Forces (IDF) confirmed in a media statement. Israel’s invasion signals a full-scale regional escalation — an action several neighbouring countries, including Egypt, have warned of several times in the past months. The escalation also comes nearly a year after Israel’s first military offensive in Gaza following the...

Beltone Holding, one of the fastest-growing financial institutions in the region, has announced that its subsidiary, Beltone Venture Capital (BVC), has completed its first international investment. BVC has made a strategic investment in VelyVelo, a French e-bike rental company known for its innovative approach to e-bike fleet management. The investment aims to support VelyVelo’s expansion into the Middle East and North Africa (MENA) region,...

Egypt’s Prime Minister Mostafa Madbouly announced on Monday that next Sunday 6 October 2024 will be a paid public holiday for the public and private sectors in commemoration of the anniversary of the 6th of October War. The holiday applies to ministries, governmental bodies, public facilities, municipalities, public enterprises, and companies in the public business sector. The private sector, schools, and universities will also...

Kraft Heinz Egypt celebrated the inauguration of its newly expanded production facility in 6th of October City on Saturday, following a two-year project with a total investment of EGP 2 billion (USD 50 million). The expansion includes seven new production lines, a sewage treatment unit, and an upgraded administrative building, significantly boosting the factory’s output and reinforcing Egypt’s role as a key hub for...

Egyptian President Abdel Fattah Al-Sisi announced on Sunday that revenue from the Suez Canal has decreased by 50-60 percent this year, equating to a loss of USD 6 billion (EGP 289.85 billion) The decline, he stated, is due to escalating geopolitical tensions in the region. Speaking during the graduation ceremony for new police cadets at the Police Academy in New Cairo, Al-Sisi addressed the...

The World Food Programme (WFP) in Egypt is partnering with El Gouna Film Festival (GFF) and Zest Company, a Cairo-based media company that crafts entertaining cooking content and tells stories of Middle Eastern cuisine, to launch “3eish,” a competition highlighting food security aimed at filmmakers across Egypt and the Arab World.  This initiative invites creatives to submit short film concepts that highlight the critical...

Lebanon’s caretaker Prime Minister Najib Mikati warned that the country could witness an unprecedented displacement crisis, with “up to one million people potentially forced to flee their homes” amid ongoing Israeli strikes. Following an emergency cabinet meeting in Beirut, Mikati emphasized that Lebanon’s only option is to pursue “diplomatic efforts to halt the aggression.” He warned that the displacement, particularly from southern Lebanon and...

In his address to the General Assembly’s seventy-ninth session on Saturday, September 28, Egypt’s Foreign Affairs Minister Badr Ahmed Mohamed Abdelatty expressed support for an expanded Security Council that includes additional permanent seats for African and Arab nations. Abdelatty emphasized that it’s time to “ring the alarm bells,” as the international system is revealing its structural flaws characterized by inequality, particularly amidst ongoing issues...

As Egypt and the United Kingdom (UK) forge ahead with their economic partnership, the UK stands among the largest investors in Egypt, with USD 48 billion (EGP 2.3 trillion) directed across a range of sectors, including oil and gas, telecommunications, pharmaceuticals, and consumer goods, according to the Minister of Finance, Ahmed Kouchouk. Egypt is open to expanding cooperation with international partners to foster economic...

Released on September 26, 2024, the highly anticipated second season of Finding Ola has already taken the Middle East and North Africa region by storm, quickly becoming the top-watched show on Netflix across several countries in the region. Directed by Hadi El Bagoury and with Hend Sabry and Amin El Masri as Executive Producers, the six-episode second season brings fans deeper into Ola Abdel...

Israel said in a statement on Saturday morning that it had killed Hezbollah leader Hassan Nasrallah in a strike on Beirut. In a statement posted on X (formerly Twitter), the Israeli Defense Forces (IDF) said that “Hassan Nasrallah will no longer be able to terrorize the world”. Hezbollah has not yet confirmed nor denied the IDF’s statement. Nasrallah, 64, has led the Shia Islamist...