Regional Crisis
In the latest Central Crisis Management Committee meeting amid the ongoing US-Israeli-Iranian military crisis, Egypt has lifted the 11 p.m. mandatory closing time for shops, commercial centers, and restaurants, while launching a solar energy incentive program for homes and factories. This follows March's austerity measures and wage hikes. Cabinet spokesman Mohamed El-Homosany confirmed the approvals.
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The Federation of Egyptian Chambers of Commerce held an emergency meeting of its High Committee for Crisis Operations to assess potential economic repercussions from escalating geopolitical tensions tied to the US-Iran military confrontation. According to Ahmed El Wakil, the federation's president, the gathering included leading economic experts and business representatives. The committee determined no hasty measures are required, highlighting the Egyptian economy's resilience.