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See - Sada Elbalad
an hour ago
- Business
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Egypt Secures Strategic Membership at ARSO
Taarek Refaat In a notable diplomatic achievement, Egypt has been elected to both the Board of Directors and the Standards Management Committee (SMC) of the African Organisation for Standardisation (ARSO), reinforcing its position as a regional leader in quality infrastructure and industrial development. Represented by the Egyptian Organization for Standardization and Quality (EOSQ), the country secured the prestigious seats during ARSO's 31st General Assembly, held this week with participation from 34 African nations — the largest attendance in the organization's history. The elections were fiercely contested, with only 12 countries earning seats on the Board and six selected for the influential Standards Management Committee. Egypt now joins an elite group of nations, including Burkina Faso, Cameroon, Rwanda, Uganda, and Zimbabwe, in shaping the continent's standardization roadmap through the SMC. Meanwhile, the Board of Directors now includes Egypt, Kenya, Morocco, Nigeria, Ethiopia, Tanzania, Zambia, and others. "This victory reflects the deep trust our African partners place in Egyptian expertise and our long-standing commitment to advancing quality systems across the continent," said Eng. Khaled Sofy, Head of EOSQ, following the announcement. Sofy credited the achievement to strategic national support, particularly from Vice Prime Minister for Industrial Development and Minister of Industry and Transport, Gen. Kamel El-Wazir, noting that 'Egypt's voice in regional and international quality platforms continues to grow stronger thanks to sustained government backing.' The General Assembly also saw several key milestones: The election of Botsile Kebapetse as ARSO's new President for the 2025–2028 term, succeeding Prof. Alex Dodoo. The admission of The Gambia as ARSO's 44th member state, signaling growing continental cohesion around unified quality standards. Egypt's new roles in ARSO are expected to enhance its influence on policy-making related to industrial standardization and technical regulations. Officials say this will play a pivotal role in accelerating intra-African trade, reducing technical barriers, and supporting the goals of Agenda 2063 — the African Union's blueprint for inclusive and sustainable development. 'Being at the heart of ARSO's leadership allows us not just to contribute but to help steer regional industrial policy in line with global standards,' Sofy emphasized. The outcome cements Egypt's reputation as a powerhouse in the standardization space, with broader implications for trade facilitation, product safety, and cross-border industrial cooperation across Africa. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
an hour ago
- Sport
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Asal & Gohar Reach Final PSA World Tour Tournament Final in Toronto
Rana Atef Egyptian squash stars Mostafa Asal and Nouran Gohar have advanced to the final of the prestigious PSA World Tour Final, currently taking place in Toronto, Canada. In the men's semi-final, Asal delivered an impressive performance to defeat fellow Egyptian Karim Abdel Gawad 2–0. Regarding the women's competitions, world No. 2 Nouran Gohar overcame Japan's Satomi Watanabe. Gohar claimed a 2–1 victory, securing her place in the final. The tournament also witnessed the withdrawal of three Egyptian players. Tarek Momen exited the competition following his retirement announcement, while Nour El Sherbini and Amina Orfi were both forced to withdraw due to injury. read more Japan Stun Spain 2-1 to Qualify for World Cup Last 16 World Cup 2022: Get to Know Confirmed Line-ups of Japan and Spain Group E Decider Saudi Arabia Bid Farewell to World Cup after 2-1 Loss to Mexico Tunisia Achieve Historic Win over France but Fail to Qualify Tunisia to Clash against France in World Cup Sports Get to Know Squad of Group D Teams in World Cup Sports Al Ahly Gift EGP 70,000 to Players After Claiming Egyptian Super Cup Title Sports Bencharki Hits First 2 Goals with Al Jazira Since Leaving Zamalek Sports Arsenal Possible Line-up for Nottingham Forest News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
2 hours ago
- Business
- See - Sada Elbalad
Afreximbank's Assets Surge to $43.5 Billion
Taarek Refaat As his transformative tenure comes to a close, Professor Benedict Oramah, President of the African Export-Import Bank (Afreximbank), announced a monumental rise in the institution's assets, revenues, and impact over the past decade, as he officially steps down during the opening session of the Bank's 32nd Annual Meetings hosted in Nigeria. Speaking before stakeholders and dignitaries, Oramah revealed that Afreximbank's total assets and guarantees soared from $5 billion in 2015 to $43.5 billion in April 2025—a more than eightfold increase. Over the same period, total revenues jumped from $408 million to $3.24 billion, while net income surged by 700%, reaching $1 billion in 2024. Oramah, who has helmed the bank since 2015, reflected on a decade marked by crises and resilience. 'We were tested by shocks—from commodity price crashes and a global pandemic to geopolitical upheaval—but with strong shareholder support, we delivered," he said. Though stepping down, Oramah set an ambitious tone for Afreximbank's next chapter, forecasting that the bank's total assets and guarantees could exceed $250 billion within the next ten years. 'Today, Afreximbank is not just a bank—it is a continental shield in times of crisis and a catalyst for Africa's transformation,' he stated. Afreximbank's track record under Oramah's leadership has been marked by bold and responsive financial interventions across the continent and beyond. Between 2020 and May 2025, the bank invested $120 billion across Africa and the Caribbean, addressing urgent development and recovery needs. Over the past decade, it deployed a total of $155 billion in trade finance and economic support, solidifying its role as a financial backbone for African economies. During the 2015–2016 commodity price shock, Afreximbank disbursed $10 billion to support countries such as Nigeria, Egypt, and Ghana in meeting their trade-related debt obligations and stabilizing their foreign exchange markets. Amid the COVID-19 pandemic, the bank allocated $8 billion in assistance—including $2 billion specifically for the procurement of 400 million doses of Johnson & Johnson vaccines. In response to the geopolitical and economic disruptions caused by the Russia–Ukraine conflict, Afreximbank disbursed $50 billion between 2022 and 2023, further reinforcing its role as a crisis-response institution for the continent. Innovation in Payments and Trade Finance Since the launch of Afreximbank's proprietary "AfPAY" cross-border payment system in 2020, the bank has facilitated $68 billion in commercial payments across 61 African and Caribbean nations. Additionally, it supported $33 billion in trade finance through letters of credit and confirmation services in over 30 countries. These financial instruments have helped reduce Africa's dependency on foreign currency and streamlined intra-African trade in line with the African Continental Free Trade Area (AfCFTA) agenda. Shareholder equity has grown dramatically—from $1 billion in 2015 to $7.5 billion in 2025, while liquidity expanded tenfold from $450 million to $4.5 billion over the same period. As Professor Oramah exits his post, he leaves behind not just a stronger institution, but a symbol of African financial sovereignty and resilience. "It has been the honor of a lifetime to lead Afreximbank during these defining years," he said, thanking Nigeria for hosting what would be his final address to shareholders as president. His legacy, by all metrics, is one of exponential growth, bold leadership, and deep commitment to Africa's future. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
3 hours ago
- Sport
- See - Sada Elbalad
Get to Know 2025 FIFA Club World Cup R16 Fixtures & Dates
Rana Atef The knockout stage of the 2025 FIFA Club World Cup kicks off with the Round of 16 from Saturday, June 28 to Tuesday, July 1, 2025. Sixteen teams who advanced from the group stage now face win-or-go-home scenarios across iconic U.S. stadiums. Here's a look at the full fixture list in Cairo local time. Here is a list of the games: Saturday, June 28, 2025 Palmeiras vs. Botafogo (7:00 PM Cairo Time) Lincoln Financial Field, Philadelphia Benfica vs. Chelsea (11 PM Cairo Time) Bank of America Stadium, Charlotte Sunday, June 29, 2025 Paris Saint‑Germain vs. Inter Miami (7:00 PM Cairo Time) Mercedes‑Benz Stadium, Atlanta Flamengo vs. Bayern Munich (11 PM Cairo Time) Hard Rock Stadium, Miami Gardens Monday, June 30, 2025 Inter Milan vs. Fluminense (7:00 PM Cairo Time) Bank of America Stadium, Charlotte Manchester City vs. Al‑Hilal (4:00 AM Cairo Time - Tuesday) Camping World Stadium, Orlando Tuesday, July 1, 2025 Real Madrid vs. Juventus (10:00 PM Cairo Time) Hard Rock Stadium, Miami Gardens Borussia Dortmund vs. Monterrey (4:00 AM Cairo Time - Wednesday) Mercedes‑Benz Stadium, Atlanta read more Japan Stun Spain 2-1 to Qualify for World Cup Last 16 World Cup 2022: Get to Know Confirmed Line-ups of Japan and Spain Group E Decider Saudi Arabia Bid Farewell to World Cup after 2-1 Loss to Mexico Tunisia Achieve Historic Win over France but Fail to Qualify Tunisia to Clash against France in World Cup Sports Get to Know Squad of Group D Teams in World Cup Sports Al Ahly Gift EGP 70,000 to Players After Claiming Egyptian Super Cup Title Sports Bencharki Hits First 2 Goals with Al Jazira Since Leaving Zamalek Sports Arsenal Possible Line-up for Nottingham Forest News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
4 hours ago
- Entertainment
- See - Sada Elbalad
Turkey's Amb. to Cairo Meets Rixos Turkish Employees in Egypt's North Coast
Rana Atef On Friday, the Turkish Ambassador to Cairo Salih Mutlu Şen held a meeting with Turkish citizens employed by the Rixos Hotel Group along Egypt's North Coast. The gathering, which took place in the city of El Alamein, provided a platform for the Ambassador to engage with the Turkish expatriate community working in the hospitality sector. During the meeting, Ambassador Şen shared a heartfelt photo with the group of citizens, showing the strong bond between the embassy and the Turkish workers in Egypt. The image captured the positive spirit of the group and reflected the goodwill fostered between both countries. He posted on X, "Each citizen, a master in their field, expressed satisfaction with living in Alameyn while earning a living for their families far from their homeland." In addition, he revealed that he will meet them again in Cairo or Alexandria during the summer holidays. read more 15 Ludicrous Cosplay Costumes That Will Blow You Away Watch... Dorra's natural beauty will blow your mind in latest photo session Exercising For As Little As 150 Minutes A Week Will Make You Happier، Study Claims ARIES: Your Horoscope for April 7 FDA Now Considers Vaping A Rising Epidemic In High School Lifestyle How to make Dried salted fish (feseekh) -By Chef El-Sherbini Lifestyle Batarekh Dip & Sardine Dip Lifestyle Best of Easter cookie and cakes Lifestyle ARIES friendship News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
