OPEN//President Sisi approves deal on preparing roadmap for reducing methane emissions in Egypt
A 959,006-dollar grant will be provided under the agreement between the Egyptian General Petroleum Corporation and the US Trade and Development Agency (USTDA).
The Egyptian House of representatives approved the draft decree on April 15, 2025.
The decree was published in the official gazette out Saturday. (MENA)
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Egypt Independent
an hour ago
- Egypt Independent
Egypt's partnership with BRICS boosts the value of local currency: Expert
The BRICS 2025 Summit kicked off on Sunday, July 6, in Rio de Janeiro, Brazil. Leaders and heads of emerging economic powers are participating to discuss prospects for international cooperation and formulate a vision that reflects the aspirations of a multipolar world. Twenty countries have joined this year's BRICS Summit, including permanent members and partners within the group. The summit is scheduled to last two days, featuring a packed program including plenary sessions and bilateral and multilateral meetings. Discussions during the BRICS 2025 Summit will focus on strengthening South-South cooperation, amid ongoing efforts to consolidate BRICS' position on the international stage. Key topics include global economic governance, innovation and technology, sustainable development, climate change, and international peace and security issues, alongside specialized official sessions. This seventeenth edition of the BRICS Summit is being held under special circumstances – the group faces a host of challenges, both internally and externally, testing its ability to achieve its ambitions. Member states are seeking to expand cooperation in key areas such as health, technology, and the environment. This summit is gaining increasing importance as countries of the Global South seek to reshape the existing global order and reduce their reliance on traditional Western economic and political systems. It also pushes for enhanced trade using local currencies and expanded economic partnerships among member states, as part of a strategic drive toward building a multi-polar world order. Brazil assumed the presidency of the group in early January, for the fourth time in its history. Economic gains Economic expert Samir Raouf, said that the 17th BRICS Summit offers Egypt significant economic gains by enhancing trade and investment through increased trade volume with BRICS countries. He explained that trade volume between Egypt and BRICS countries has already increased by 19.5 percent in 2024 – reaching US$50.8 billion – with the opening of new markets for Egyptian products in these countries, especially after the increase in the number of members including from China, Russia, and India. Raouf added that increased cooperation with strong economies within the group has led to an influx of additional foreign investment into the Egyptian market, alongside opening up new areas of cooperation in the technology, innovation, industrial development, energy, and food agriculture sectors. This coincides with the possibility of implementing trade exchange systems in local currencies, which will help alleviate pressure on the dollar, reduce dependence on it, and gradually support the Egyptian pound. The economic expert explained that Egypt is now able to benefit greatly from the collective efforts of the BRICS countries to establish an alternative global financial system based on non-dollar payment systems and multiple economic instruments. In the future, this could lead to an improvement in the value of the local currency and increase Egypt's flexibility in making economic decisions outside the pressures of the traditional financial system. Regarding financing development projects, Raouf explained that Egypt's membership in the BRICS New Development Bank provides it with concessional financing for infrastructure and sustainable development projects, particularly regarding transportation, energy, water, digital infrastructure, and social development. As for tourism, the expert pointed out that the current stable situation in Egypt and the approaching opening of the Grand Egyptian Museum provide it with ample opportunities to promote tourism within the BRICS countries and increase the flow of tourist delegations from these countries. Raouf concluded his remarks stating that Egypt's participation in the 17th BRICS Summit also brings significant strategic and geopolitical gains, as it strengthens its regional and international role as an active player in international forums, contributes to building a more balanced and just global economic system, and provides it with political and marketing support internationally on several issues. Edited translation from Al-Masry Al-Youm
Al-Ahram Weekly
2 hours ago
- Al-Ahram Weekly
Trump hosts Netanyahu, hopes for Gaza deal 'this week' - War on Gaza
Israeli Prime Minister Benjamin Netanyahu will meet Monday US President Donald Trump, who expressed hope for a "deal this week" between Israel and Hamas that sees captives released from the Gaza Strip. Indirect negotiations between Israel and Hamas began on Sunday evening in Doha, aiming to broker a ceasefire and reach an agreement on the release of captives in exchange for Palestinian prisoners. Trump said Sunday there was a "good chance" of reaching an agreement. "We've gotten a lot of the hostages out, but pertaining to the remaining hostages, quite a few of them will be coming out," he told journalists. Netanyahu, speaking before boarding his flight to Washington on Sunday, said his meeting with Trump could "definitely help advance this" deal. The US president is pushing for a truce in the Gaza Strip, plunged into a humanitarian crisis after nearly two years of war. Netanyahu said he dispatched the team to Doha with "clear instructions" to reach an agreement "under the conditions that we have agreed to." He previously said Hamas's response to a draft US-backed ceasefire proposal, conveyed through Qatari and Egyptian mediators, contained "unacceptable" demands. 'Important mission' Two Palestinian sources close to the discussions told AFP the proposal included a 60-day truce, during which Hamas would release 10 living captives and several bodies in exchange for Palestinians detained by Israel. However, they said, the group was also demanding certain conditions for Israel's withdrawal, guarantees against a resumption of fighting during negotiations, and the return of the UN-led aid distribution system. Netanyahu has an "important mission" in Washington, "advancing a deal to bring all our hostages home," said Israeli President Isaac Herzog after meeting him Sunday. Trump is not scheduled to meet the Israeli premier until 6:30 pm (2230 GMT) Monday, the White House said, without the usual presence of journalists. Of the 251 captives, 49 are still being held in Gaza, including 27 the Israeli military says are dead. Since the war started on October 2023, mediators have brokered two temporary halts in the fighting. They have seen captives freed in exchange for some of the thousands of Palestinian prisoners in Israeli custody. Recent efforts to broker a new truce have repeatedly failed, with the primary point of contention being Israel's rejection of Hamas's demand for a lasting ceasefire. 'Enough blood' In Gaza, the territory's civil defense agency reported 26 people killed by Israeli forces on Sunday, 10 of them in a strike in Gaza City's Sheikh Radwan neighborhood. "We are losing young people, families and children every day, and this must stop now," Sheikh Radwan resident Osama al-Hanawi told AFP. "Enough blood has been shed." The war has created dire humanitarian conditions for the more than two million people in the Gaza Strip. A US- and Israel-backed group, the Gaza Humanitarian Foundation (GHF), took the lead in food distribution in the territory in late May, when Israel partially lifted a more than two-month blockade on aid deliveries. But its operations have had a chaotic rollout, with repeated reports of aid seekers killed near its facilities while awaiting rations. UN agencies and major aid groups have refused to cooperate with the GHF over concerns it was designed to cater to Israeli military objectives. The UN human rights office said last week that more than 500 people have been killed waiting to access food from GHF distribution points. The Gaza health ministry on Sunday placed that toll even higher, at 751 killed. Israel's war has killed at least 57,418 people in Gaza, mostly women and children. Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
11 hours ago
- See - Sada Elbalad
Egypt's PM Urges BRICS Nations to Focus on Common Interests, Collective Action to Address Challenges
Taarek Refaat In a key speech delivered on the sidelines of the 17th BRICS Summit, Egyptian Prime Minister Mostafa Madbouly emphasized the need for stronger international cooperation to confront pressing global challenges. Speaking on behalf of President Abdel Fattah El-Sisi, Madbouly participated in the 'Peace, Security, and Global Governance Reform' session, underlining the importance of multilateralism, sustainable development, and peacebuilding. The working luncheon, hosted by Brazilian President Luiz Inácio Lula da Silva, served as a platform for discussing vital issues surrounding global security, peace, and governance reform. Prime Minister Madbouly began by thanking President da Silva for the opportunity to engage in these critical conversations, particularly in light of the increasingly complex geopolitical climate. Addressing Crisis and Multilateralism Madbouly outlined the intertwining crises facing the world today, with a particular focus on the humanitarian situation in Gaza, which has been exacerbated by ongoing Israeli military actions. He also highlighted the broader impact of these hostilities, which have extended to neighboring regions, including Lebanon, Syria, and Iran. He underscored that these developments reinforce the urgency of strengthening multilateral cooperation, supporting international law, and reinforcing the role of the United Nations in promoting peace and security. 'The catastrophic humanitarian situation we witness today, especially in Gaza, is a stark reminder of why multilateralism and respect for international law are more crucial than ever,' said Madbouly. 'It is our collective responsibility to ensure that the principles enshrined in the UN Charter guide the future of global governance.' Egypt's Role in Promoting Regional Peace The Prime Minister also took the opportunity to emphasize Egypt's longstanding commitment to regional and global peace efforts. He highlighted Egypt's strategic role in conflict prevention, peacebuilding, and post-conflict reconstruction across Africa and the Middle East. In particular, he pointed to Egypt's leadership in addressing regional challenges through diplomatic mediation and capacity building. 'Since 2019, President El-Sisi has served as the African Union Champion for Post-Conflict Reconstruction and Development. This reflects Egypt's deep engagement in promoting peace and stability on the African continent,' Madbouly remarked. 'We have developed extensive experience in mediation, dialogue, and reconciliation processes.' Madbouly also referenced the Cairo International Center for Conflict Resolution, Peacekeeping, and Peacebuilding, which has been instrumental in resolving violent conflicts since its founding in 1994. The center's work focuses on mediation, negotiation, and supporting national reconciliation efforts, alongside enhancing local communities' capacity to address emerging security threats. In addition to Egypt's role in regional peacekeeping, Madbouly highlighted the importance of sustainable development as a cornerstone for conflict prevention. 'We must address the root causes of conflict, particularly poverty, and ensure that sustainable development is a key focus,' he stated. He also outlined Egypt's launch of the Aswan Forum for Peace and Sustainable Development in 2019, which provides an important platform for discussing the interconnectedness between peace and development. The forum encourages African-led solutions to peace and security challenges, with the next session scheduled for October 2025 in Aswan. In his concluding remarks, Prime Minister Madbouly emphasized the importance of collaboration between BRICS nations and beyond, urging that 'we must strengthen our cooperation, focus on common interests, and work together to overcome the current challenges and fulfill the aspirations of our peoples.' With global instability on the rise and the urgency for peace-building ever more apparent, Madbouly's call for multilateralism and collective action serves as a reminder of the ongoing efforts of Egypt to shape a more peaceful and sustainable global order. 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