Ahmed Hassan

Egypt extends EGP 50bn hotel financing initiative by six months to boost tourism capacity

The Egyptian Cabinet has approved a six-month extension of the EGP 50 billion hotel financing initiative to expand the country's hotel capacity. Ministers of Finance and Tourism announced the decision, effective from October 20, 2025. The move responds to requests from investors seeking to complete ongoing and planned tourism projects.

Egypt's foreign minister reaffirms support for UN efforts in Middle East

Egypt's Minister of Foreign Affairs, Emigration, and Egyptian Expatriates Badr Abdelatty reaffirmed Egypt's commitment to supporting the United Nations' efforts to promote sustainable development in the Middle East amid ongoing political, economic, and social challenges. The remarks came during his meeting with UN Assistant Secretary-General Abdallah Al Dardari to discuss expanding cooperation and preparations for an upcoming international conference on early recovery and reconstruction in Gaza, hosted by Egypt in November.

Egypt and Netherlands renew water MoU for coastal protection

Egypt’s Water Resources and Irrigation Minister Hani Sweilam met with Dutch Ambassador to Cairo Peter Mollema to strengthen bilateral ties in water management. The two sides renewed their Memorandum of Understanding for the Egypt-Netherlands High-Level Water Committee, focusing on water resource management and coastal protection. Preparations are underway for a new feasibility study on environmentally friendly beach nourishment techniques to safeguard Egypt’s Mediterranean coastline.

Israeli sources: Remains returned by Hamas not those of missing hostages

28 октября 2025 Ahmed Hassan

Israeli sources say the remains handed over by Hamas to Israel on Monday night do not belong to any of the missing deceased hostages. Forensic examination confirmed they are not among the 13 unaccounted-for hostages in Gaza. Prime Minister Benjamin Netanyahu is set to discuss Israel's potential response.

Finance ministry introduces new VAT facilitations to support taxpayers

29 октября 2025 Ahmed Hassan

Minister of Finance Ahmed Kouchouk has issued two ministerial decrees introducing new facilitations for Value Added Tax (VAT) taxpayers, aiming to strengthen trust and partnership between the government and the business community. The first decree amends executive regulations of the VAT Law, while the second establishes a new accounting framework for contracting and construction agreements. These changes seek to simplify tax procedures and foster a transparent business environment.

Egypt brokers African consensus on AfCFTA rules of origin after four years

Egypt, as Chair of the AfCFTA Ministerial Council of Trade Ministers, has secured consensus among member states on rules of origin for the textile, apparel, and automotive sectors. The breakthrough, achieved through a transitional implementation mechanism, follows more than four years of negotiations. It was announced after a Cairo meeting in September and an October virtual session.

Cbe governor attends future leaders graduation at ebi

Hassan Abdalla, governor of the Central Bank of Egypt and chairperson of the Egyptian Banking Institute, attended the graduation ceremony for four new cohorts of the Future Leaders programme at the EBI. The event included deputy governors and board members, marking the graduation of 93 young banking professionals. Abdalla expressed pride in the programme, launched three decades ago to nurture sector talent.

Al-Ahram Chemicals invests $10m in Sokhna formaldehyde derivatives complex

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone, witnessed the signing of a contract between Al-Ahram Chemicals and Resins and the Main Development Company to build an industrial complex for formaldehyde and derivatives in Sokhna Industrial Zone. The $10m investment is expected to create 150 direct jobs. Commercial operations are set to start in early 2027.

Egypt assumes INTOSAI presidency as INCOSAI 25 starts in Sharm El-Sheikh

29 октября 2025 Ahmed Hassan

Egypt, represented by the Accountability State Authority (ASA), has officially taken over the presidency of the International Organization of Supreme Audit Institutions (INTOSAI) for a three-year term. The handover ceremony occurred during the opening of the 25th International Congress of Supreme Audit Institutions (INCOSAI 25) in Sharm El-Sheikh under the patronage of President Abdel Fattah Al-Sisi. The event was attended by Prime Minister Mostafa Madbouly, several ministers, and senior officials.