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Daily New Egypt
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[l] at 7/4/24 2:00am
Throughout the rich history of Egyptian cinema, male artists have consistently dominated the box office, drawing large audiences and achieving impressive revenues. However, female stars, despite their ability to generate significant income through their cinematic works, have often been overlooked. Let’s explore some iconic women who defied this trend and left their mark on Egyptian cinema.   Egyptian Cinema’s Trailblazing Female Stars Leila Mourad: Born in Cairo in 1918, Leila Mourad was a legendary singer and actress. Her debut as a singer in the cinema was in “The Victims,” six years before she began her acting career. She collaborated with director Togo Mizraahy, who helped her overcome shyness and become a great cinematic actress. Later, her marriage to actor Anwar Wagdy further boosted their popularity, making them the beloved artistic couple of their time. Hend Rostom: Often referred to as the “queen of temptation” in Arab cinema, Hend Rostom’s films in the 1960s and 1970s consistently topped the box office, reaping substantial profits. Nadia El-Gendy: Emerging as a force to be reckoned with in the 1980s, Nadia El-Gendy achieved unprecedented success at the box office. She even outperformed male stars in terms of profitability, earning her the title of the “star of the masses.” Nabila Obaid: In the same era, Nabila Obaid established herself as a box office star, engaging in intense competition with El-Gendy for the highest percentage of revenues. Yasmine Abdel Aziz: In the 1990s, Yasmine Abdel Aziz emerged as a beloved star. Her successful films, including “Dada Dodi” (2008) and “Miss Mami” (2012), often outperformed her male counterparts. Despite these remarkable achievements, recent years have seen a lack of female artists competing with male stars for box office success. Perhaps critics and cinephiles can shed light on the current box office stars of our time.   Changing Tides in Egyptian Cinema In the ever-evolving landscape of Egyptian cinema, norms have shifted. According to writer and critic Khairiya El-Bashlawi, social media has made everything more accessible, and audiences are now better informed than ever before. Success at the box office hinges on delivering compelling leading roles in films that generate substantial revenues. Gone are the days of individual stars; today, artistic works thrive on collaboration among a group of talented artists rather than relying solely on one individual. This collective spirit is evident in recent cinematic offerings like “Welad Rizk 3” and “Al Serb,” where multiple actors share the spotlight. The era of iconic stars like Adel Imam, Nour al-Sharif, and Mahmoud Abdel Aziz dominating the industry has faded. Instead, a new reality emerges—one where success is achieved through collective effort and unique storytelling.   Emerging Female Artists Shine Critics like Walid Saif recognize the emergence of a group of young female artists who play significant roles. Salma Abu Deif, Asmaa Galal, Mayan El-Sayed, and Mirna Gamil each possess the ability to take on leading roles and achieve individual success. Their performances resonate with a young audience that admires their talent. Encouraging these young talents to take on independent artistic projects is crucial. They must carefully select roles, undergo thorough training, and utilize their abilities to the fullest. Injecting new artistic energy into the scene will enrich the cinematic landscape, attract audiences, and contribute to industry growth. The Decline of Box Office Stars Samir El-Gamal, a writer and screenwriter, asserts that the era of female box-office stars waned when Nadia El-Gendy and Nabila Obaid stepped back from leading roles in the 80s and early 90s. Unfortunately, recent years confirm that the concept of a box-office star is no longer relevant. Female artists are now easily accessible through platforms like advertisements and social media, diminishing the audience’s desire to see them on the big screen. Additionally, lacklustre scripts and the absence of standout stars contribute to the decline. Audiences now prioritize compelling narratives over celebrity names, as exemplified by the success of the film “Al-Harifa,” which grossed over EGP 75m in a year, driven by a fresh group of talented individuals.

[Category: Cinema, Culture, female, Female Box Office, stars]

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[l] at 7/3/24 2:45pm
Mahmoud Esmat has assumed his new role as Egypts Minister of Electricity and Renewable Energy, succeeding Mohamed Shaker in Prime Minister Mostafa Madboulys government. Esmat has outlined his commitment to improving the quality of electricity services and addressing power outages, aligning with President Abdel Fattah Al-Sisis directives to enhance the electrical supply and services provided to citizens. Esmat emphasized the strategic importance of the electricity sector, highlighting that a reliable electricity supply is crucial for national security and essential for the countrys economic and social development. Esmats extensive background in electrical engineering and his leadership roles in various sectors bolster his new position. Born in Cairo Governorate, Esmat holds a Bachelor’s degree in Electrical Engineering from Cairo University and a PhD in Electrical Power Engineering from Dalhousie University in Canada. His career began in academia as a faculty member at Cairo University’s Faculty of Engineering, followed by engineering positions at the Suez Canal Authority and the Shipbuilding Company in Ismailia and Port Said. His leadership experience includes serving as Chairperson of the Cairo Airport Company from 2013 to 2014 and Chairman of the Holding Company for Airports and Air Navigation from 2014 to 2016. Since 2016, he has been the Chairman of the Cairo Glass Manufacturing Company. Esmat has also been serving as the Minister of Public Enterprise Sector since August 2022.    

[Category: Business, electricity, Mahmoud Esmat]

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[l] at 7/3/24 2:43pm
Rania Al-Mashat has been a part of Egypts government since 2018. She previously served as the Minister of International Cooperation in December 2019 and was the first female Minister of Tourism (January 2018 December 2019). On Wednesday, she was appointed as the Minister of Planning and International Cooperation. With over 20 years of international experience, Al-Mashat has expertise in central banking, financial systems, monetary policy frameworks, international cooperation policies, sustainable development, and climate finance. Notably, she played a key role in modernizing the Central Bank of Egypts (CBE) monetary policy strategy during her tenure as Sub-Governor for Monetary Policy (August 2005 June 2016). This included adopting an inflation-targeting regime, a crucial aspect of the banking sector reform program launched in 2004. Additionally, Al-Mashat worked at the International Monetary Fund (IMF) in Washington, D.C., serving as Advisor to the Chief Economist (August 2016 January 2018) and as a Senior Economist (2001-2005). Her board affiliations include positions at the Egyptian Stock Exchange, the Egyptian General Authority for Free Zones and Investment, the Arab International Bank, and the Arab Investment Bank. Al-Mashat holds a PhD and MA in Economics from the University of Maryland, College Park, USA, with a focus on macroeconomics, international economics, and monetary policy. She also earned her BA in Economics from the American University in Cairo (AUC).  

[Category: Business, Rania Al-Mashat]

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[l] at 7/3/24 2:38pm
Sherif Magdy El-Sherbiny, a leader within the New Urban Communities Authority, which is affiliated with the Ministry of Housing, Utilities, and Urban Communities, has extensive experience spanning 20 years. He has a Bachelor’s degree in Civil Engineering in 2004. From 5 February 2005 to 28 November 2007, he worked at the Badr City Authority in the Utilities Department, overseeing water, sewage, irrigation networks, and the execution of stations, lift stations, treatment plants, and transmission lines. Between 28 November 2007 and 14 March 2012, he served as Head of the Design and Survey Studies Department at the Badr City Authority, contributing to the design of various residential and service projects and reviewing utility and infrastructure initiatives. From 14 March 2012 to 10 November 2014, he supervised roads and main axes at the Roads and Utilities Department. His career continued to evolve: on 28 September 2018, he became an assistant to the Head of the Badr City Authority. On 17 September 2017, he served as Deputy Head of the New Cairo City Authority. Subsequently, on 23 February 2019, he was appointed Head of the Shorouk City Development Authority. Finally, on 1 March 2021, he assumed the role of Head of the 6th of October City Authority. Notably, Sherif El-Sherbiny held the position of Head of the New Administrative Capital Authority from 2 March 2021 until 2 July 2024.

[Category: Business, Sherif El-Sherbiny, urban development]

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[l] at 7/3/24 2:35pm
Kamel Abdel Hady Al-Wazir Al-Basyouny, who was the Minister of Transport in the previous government, was appointed on Wednesday as Minister of Industry and Transport and Deputy Prime Minister for Industrial Affairs. Al-Wazor graduated from the Military Technical College – Class 17 on July 1, 1980, with a specialization in construction. He has a Master of Military Science from the Command and Staff College, a fellowship from the Higher War College, and completed the senior leadership course at Nasser Military Academy. His notable experiences include overseeing the New Suez Canal excavation project in 2015, the side canal excavation for East Port Said Port, and supervising the national road project and the Galala Plateau project in Ain Sokhna. Al-Wazor previously served as chief of staff of the Armed Forces Engineering Authority (2014–2015) and currently holds the position of Chairperson of the Engineering Authority of the Armed Forces since December 2015. He was appointed as Minister of Transport in March 2019, and promoted to the rank of Lieutenant General.  

[Category: Business, Kamel Al Wazir]

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[l] at 7/3/24 2:31pm
Karim Badawi has been appointed as the Minister of Petroleum and Mineral Resources, succeeding Tarek El Molla, as part of the new cabinet reshuffle. Before his appointment, Badawi served as the Regional President for Schlumberger in Egypt and the Eastern Mediterranean. In this role, he led numerous initiatives that strengthened collaboration between Schlumberger and the Egyptian Ministry of Petroleum. His work focused on developing and modernizing the Egyptian petroleum sector, with the goal of transforming Egypt into a regional energy hub. Badawi, an experienced petroleum engineer, began his professional journey at Schlumberger. He gradually advanced through various positions until he became the General Manager for Schlumberger Egypt and the Eastern Mediterranean. His strategic leadership and forward-looking vision have been instrumental in adopting the latest technologies and enhancing local capabilities within the petroleum sector. Badawis career started as a field engineer from 1996 to 2000. He then served as a field service manager based in Aberdeen, Scotland, from 2001 to 2002. Subsequently, he held roles as the companys training center manager (2002–2003), global training development manager, and recruitment manager (2003–2006). He also served as the wireline operations manager in East Africa and the Eastern Mediterranean (2006–2008) and as the operations and business systems support manager (2008–2010). Badawi also served as the IT manager for Schlumberger Russia from 2010 to 2011, followed by the role of IT manager for Russia and Central Asia, and Vice President of Shared Services for Russia and Central Asia. He then became Vice President of Testing Services for Russia and Central Asia, General Manager for Egypt and the Eastern Mediterranean, and Digital Performance Manager for the corporation. His most recent role before becoming minister was Regional President for Schlumberger in Egypt and the Eastern Mediterranean.

[Category: Business, Karim Badawi, mineral resources, Minister of Petroleum]

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[l] at 7/3/24 2:29pm
Lieutenant General Abdel Megeed Sakr, who was promoted from Major General of Staff on Wednesday, has been sworn in as the new Minister of Defence and Military Production. He succeeds Lieutenant General Mohamed Zaki. Born in 1962, Sakr holds a bachelor’s degree in military sciences from the Military College, a fellowship from the National Defense College, and a master’s degree in military sciences from the Military Academy for Postgraduate and Strategic Studies. Throughout his service in the Armed Forces, Sakr has held various positions in different departments and bodies, including the administration of the Republican Guard. He also served as the head of the Military Police Department and was appointed Governor of Suez in 2018. Sakr has been honored with several orders and medals, including the Military Duty Medal (first class) and the Long Service and Good Example Medal.

[Category: Egypt, Politics, Abdel Megeed Sakr, Abdel Meguid Saqr, military]

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[l] at 7/3/24 2:22pm
Badr Abdelatty was sworn in as Egypts new Minister of Foreign Affairs before Egyptian President Abdel Fattah Al-Sisi during the recent cabinet reshuffle. He succeeds Sameh Shoukry in this important role. Abdelattys professional journey began in 1987 when he worked as a researcher at the Al-Ahram Center for Political and Strategic Studies until 1989. Since then, he has embarked on a distinguished diplomatic career. His previous roles include serving as Egypts Ambassador to the Kingdom of Belgium, the Duchy of Luxembourg, and the European Union until July 2024. He also held the position of Egypts Permanent Representative to NATO during the same period. Prior to these appointments, Abdelatty served as Egypts Ambassador to Germany from 2015 to 2019. In addition, he has held various key positions, including Deputy Assistant Secretary of State, Official Spokesperson for the Ministry, and Director of the Public Diplomacy Department between 2013 and 2015. Throughout his career, Abdelatty has contributed significantly to Egypts diplomatic efforts, representing the country in various international contexts, including in America, Japan, and Israel.

[Category: Egypt, Politics, Badr Abdelatty, Minister of Foreign Affairs]

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[l] at 7/3/24 2:03pm
Egypts Minister of Health, Khaled Abdel Ghaffar, was sworn in before Egyptian President Abdel Fattah Al-Sisi as the Minister of Health in the new cabinet reshuffle.   Abdel Ghaffar previously served as the Minister of Higher Education and Scientific Research. Following nearly 10 months as the acting minister, he succeeded Hala Zayed to become the Minister of Health and Population.   Before his ministerial roles, Abdel Ghaffar held several academic positions at Ain Shams University. He headed the Department of Oral Medicine, Periodontics, Diagnostics, and Radiology at the Faculty of Dentistry. Additionally, he served as the Dean of the Faculty of Dentistry and Vice President of Ain Shams University for Graduate Studies and Research.   Abdel Ghaffars international experience includes being a visiting professor at the College of Dentistry, University of Georgia (US), and the College of Dentistry, University of Texas, Houston (US). He also contributed to dental education and research as Secretary of the Dental Sector Committee at the Supreme Council of Universities and as a member of the Permanent Committee for Promotions at the same council.   His achievements include winning first place for the best research during the International Foundation for Dental Research (IADR) conference. He received the State Incentive Award in Medical Sciences and was recognized for distinguished research at Ain Shams University.   Abdel Ghaffar has authored 20 research papers in international journals and co-authored approximately 50 research papers in the field of dentistry and oral medicine specialization.

[Category: Egypt, Politics, health minister, Khaled Abdel Ghaffar]

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[l] at 7/3/24 1:55pm
The Engineering Export Council of Egypt has launched a trade mission to Morocco, involving 20 companies from the sector. This initiative, in collaboration with the Trade Reform and Development Project in Egypt (TRADE), is funded by the United States Agency for International Development (USAID) and the Egyptian Commercial Service (ECS). The mission’s opening was attended by Yasser Othman, the Egyptian ambassador to Morocco; Hassani Berkani, the president of the Chamber of Commerce and Industry in Morocco, and Suleiman Khalil, the Head of the ECS in Morocco. May Helmy, the Executive Director of the Engineering Export Council, stated that the council aims to contribute to the state’s strategy for boosting commodity exports and achieving advanced targets. The goal is for Egyptian exports to reach $145bn by 2030 as part of the export development strategy. Helmy emphasized that the engineering sector is highly promising for exports, significantly increasing the added value in local manufacturing and enjoying an excellent reputation in global markets. The Engineering Export Council aims for at least 10% growth in exports to Arab markets during 2024. This objective relies on the capabilities of Egyptian engineering industries and a vision based on participation in international exhibitions, trade missions, and external trade weeks. The Moroccan market is a key target for the council in 2024. Focusing on North African markets, the council aims to maintain the export boom achieved since the beginning of the year, with unprecedented levels of $1.6bn in the first four months. Helmy highlighted that the council supports Egyptian companies entering the Moroccan market by facilitating participation in exhibitions and trade missions. They assist companies with the necessary documentation, export support, and addressing market challenges by providing essential data about target markets in collaboration with ECS.    

[Category: Business, Morocco]

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[l] at 7/3/24 1:19pm
The Ministry of Health in the Gaza Strip has reported that the Israeli occupation forces committed three massacres in the past 24 hours, resulting in 28 deaths and 125 wounded individuals who were taken to hospitals. The total number of victims of Israeli aggression has now reached 37,953 deaths and 87,266 injured since 7 October.   In response to the Israeli attacks, the Al-Qassam Brigades—the military wing of the Islamic Resistance Movement (Hamas)—announced that its fighters targeted the headquarters of the occupation forces penetrating operations in the Al-Shuja’iya neighborhood, east of Gaza City. The attack, carried out with appropriate weapons, resulted in casualties among the sites members.   On Wednesday, Al-Qassam reported that its fighters observed helicopters landing to evacuate the dead and wounded. Additionally, the Al-Qassam Brigades fired two Al-Yassin 105 shells at two Merkava tanks in the western camp of the Tal Al-Sultan neighborhood, west of Rafah.   The Al-Quds Brigades, the military wing of the Islamic Jihad Movement, confirmed that its fighters destroyed an Israeli Merkava tank using a piercing device near the Rafah Municipal Stadium in the center of Rafah.   Spokesperson Abu Hamza of the Al-Quds Brigades stated: Several enemy prisoners attempted suicide due to extreme frustration caused by their governments neglect of their plight. Our treatment of these prisoners differs, as we have deprived them of some privileges they previously enjoyed before the heinous crime in Al-Nuseirat.   Abu Hamza emphasized: Our decision to treat enemy prisoners similarly to our own incarcerated individuals will continue as long as the unjust measures by the terrorist government persist against our people and our prisoners.

[Category: Politics, Region, Gaza]

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[l] at 7/3/24 1:18pm
Egypts new cabinet, led by incumbent Prime Minister Mostafa Madbouly, was sworn in before President Abdel Fattah Al-Sisi on Wednesday at the Al-Ittihadiya Palace in Cairo. The reshuffled government, comprised of 30 ministers, reflects a focus on addressing economic challenges. Several ministries have been merged or replaced, particularly within the economic sphere. President Al-Sisi previously emphasized job creation and mitigating the impact of rising prices as key priorities for the new cabinet. In a pivotal meeting following the swearing-in of Egypts new government, President Al-Sisi outlined a clear vision for the nations future, emphasizing comprehensive development, economic revitalization, and unwavering commitment to national security. Al-Sisi extended his heartfelt congratulations to Madbouly, and his cabinet, expressing his utmost confidence in their ability to steer the country towards a brighter future. He also extended his sincere appreciation to the outgoing government and governors for their dedicated service and contributions to Egypts progress. At the heart of President Al-Sisis directives lay a strong emphasis on holistic government reform. He underscored the need to revamp policies and enhance performance to align with the evolving aspirations and challenges of the nation. Capitalizing on past experiences, he stressed the importance of institutionalizing sound governance practices and fostering seamless collaboration among ministries and state agencies. President Al-Sisi placed particular emphasis on economic revitalization, highlighting the need to prioritize citizen well-being and achieve a tangible leap in essential services, particularly in healthcare and education. He reiterated the strategic significance of building and nurturing a robust Egyptian industrial sector, urging the government to attract and encourage domestic and foreign investments while empowering the private sector. These measures, he affirmed, would pave the way for a comprehensive economic and financial turnaround, fulfilling the aspirations of the Egyptian people for sustainable development and progress. Recognizing the dynamic regional and international landscape, President Al-Sisi underscored the paramount importance of safeguarding Egypts national security. He instructed the government to maintain and strengthen security measures, build state capacities across all sectors, and preserve the hard-won gains in counterterrorism efforts. Additionally, he stressed the need to continue fostering a culture of citizenship, tolerance, and non-discrimination among all Egyptians. In response, Prime Minister Madbouly and the assembled dignitaries expressed their deep gratitude for the opportunity to serve their nation during this critical juncture. They pledged their unwavering commitment to work tirelessly, with selflessness and dedication, to achieve the Presidents directives and secure the best interests of Egypt and its citizens. Cabinet formation: Mostafa Madbouly: Prime Minister. Deputy Prime Ministers and Ministers: Khaled Abdel Ghaffar: Deputy Prime Minister for Human Development and Minister of Health and Population. Kamel Al-Wazir: Deputy Prime Minister for Industrial Development and Minister of Industry and Transport. Abdel Megeed Sakr: Minister of Defence and Military Production. Rania Al-Mashat: Minister of Planning, Economic Development, and International Cooperation. Mahmoud Tawfik: Minister of Interior. Yasmine Fouad: Minister of Environment. Amr Talaat: Minister of Communications and Information Technology. Ashraf Sobhiy Minister of Youth and Sports. Ayman Ashour: Minister of Higher Education and Scientific Research. Mohamed Salah: Minister of State for Military Production. Hani Sewilam: Minister of Water Resources and Irrigation Mahmoud Esmat: Minister of Electricity and Renewable Energy. Manal Awad: Minister of Local Development. Ahmed Kouchouk: Minister of Finance. Sherif Fathy: Minister of Tourism and Antiquities. Maya Morsy: Minister of Social Solidarity. Sherif Farouk: Minister of Supply and Internal Trade. Badr Abdel Aty: Minister of Foreign Affairs and Migration. Adnan Fangary: Minister of Justice. Mahmoud Fawzi: Minister of Parliamentary, Legal Affairs, and Political Communication. Usama El-Azhary: Minister of Awqaf. Sameh Zaki: Minister of Civil Aviation. Sherif Sherbini: Minister of Housing, Utilities, and Urban Communities. Alaa Farouk: Minister of Agriculture and Land Reclamation. Mohamed Shimi: Minister of Public Business Sector. Hassan El-Khatib: Minister of Investment and Foreign Trade. Mohamed Gaber: Minister of Labour. Ahmed Hanno: Minister of Culture. Mohamed Abdel Latif: Minister of Education and Technical Education. Karim Badawi: Minister of Petroleum and Mineral Resources. Also on Wednesday Al-Sisi presided over the swearing-in ceremony of Egypts new governors and their deputies. The newly appointed governors represent a diverse range of backgrounds and experiences and are expected to bring fresh perspectives and leadership to their respective provinces. The governors are Mohamed El Zamlout, Governor of Wadi El Gedid; Ahmed El Ansary, Governor of Fayoum; Khaled Shoaib, Governor of Matrouh; Amr Hanfy, Governor of the Red Sea; Ibrahim Shahawy, Governor of Menoufia; Mohamed Ghanem, Governor of Beni Suef; Ahmed Khaled Saeed, Governor of Alexandria; Khaled Megawer Governor of North Sinai; Ibrahim Khalil, Governor of Cairo; Ashraf El Gendy, Governor of Gharbia; Tarek Abdel Moghni, Governor of Dakahlia; Abdel Fattah Sarag, Governor of Sohag; Abdel Moteleb Omara, Governor of Luxor; Hesham Sherif, Governor of Asyut; Akram Galal, Governor of Ismailia, and Alaa Ibrahim, Governor of Kafr El-Sheikh. They also included Khaled Bakry, Governor of South Sinai; Ismail Kamal, Governor of Aswan; Hazem El-Ashmouni, Governor of Sharqia; Khaled Abdel Aal, Governor of Qena; Moheb Habashi, Governor of Port Said; Tarek El-Shazly, Governor of Suez; Adel El-Naggar, Governor of Giza; Emad Kedwani, Governor of Minya; Ayman Attia, Governor of Qalyubia; Ayman Rashad, Governor of Damietta, and Jacqueline Azer, Governor of Beheira.  

[Category: Egypt, Politics, Al-sisi, cabinet]

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[l] at 7/3/24 1:09pm
Mohamed Ibrahim Ahmed El-Shimy has been appointed as the Minister of Public Enterprises Sector, succeeding Mahmoud Esmat, who will now serve as the Minister of Electricity and Renewable Energy. El-Shimy brings extensive experience in company management, both within and outside the petroleum sector. He successfully led Petrojet, a major company in the petroleum industry, achieving significant milestones. His successful career continued as he headed San Misr, another notable petroleum company. Beyond the petroleum sector, El-Shimy served as Chairperson of the Egyptian Company for Metro Management and Operation, and as CEO and Managing Director of Concord Engineering and Contracting since October 15, 2021. In the petroleum sector, El-Shimy held several prominent positions, including Chairman of the Boards of major companies such as Petrojet, San Misr, and Ganope (Ganoub El-Wadi Holding Petroleum Company). He also served as Undersecretary of the Ministry of Petroleum for Projects. El-Shimys vast experience in managing large enterprises across various sectors equips him with the skills needed to effectively lead the Ministry of Public Enterprises Sector.

[Category: Egypt, Politics, Mohamed El-Shimy, public enterprises]

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[l] at 7/3/24 12:22pm
Mohamed Gaber was sworn in Wednesday, as Labour Minister before President Abdel Fattah Al-Sisi, in the government of Prime Minister Mostafa Madbouly. Gaber has held numerous positions related to labour and workers issues at the local, Arab, and international levels. These include serving as President of the General Petroleum Syndicate, the General Union of Egyptian Workers Trade Unions, the Central Union of the International Confederation of Arab Trade Unions, and Vice President of the World Federation of Trade Unions. He has also headed the Egyptian Workers delegation in many Arab and international forums, especially the Arab and International Labor Conferences. Gaber was born on June 30, 1966. He holds a Bachelors degree in Commerce. He was appointed to the Petroleum Company in 1991 and rose through the administrative ranks to become General Manager of Administrative Affairs at the company. Gaber also rose through the ranks of labour union positions, serving as a member of the union committee at Hope Petroleum Company in 1994, and was appointed Youth Secretary of the committee, then Secretary General of the union committee, until he became President of the committee. He also rose through the ranks of union positions in the General Union of Petroleum Workers, being elected Secretary General of the General Union of Petroleum Workers in 2013 for a term of 4 years, then elected President of the General Union of Petroleum Workers in the 2018-2022 union session, and President of the General Union by acclamation in the current 2022/2026 union elections. He has also held the position of President of the General Union of Egyptian Workers Trade Unions since 2022.  

[Category: Business, Labour Minister, Mohamed Gaber]

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[l] at 7/3/24 12:19pm
Alaa Farouk has taken on the role of Minister of Agriculture, succeeding El-Sayed El-Kosayer. Prior to this appointment, Farouk served as the Chairperson of the Agricultural Bank of Egypt (ABE) since February 2020. His contributions were pivotal in advancing government-led agricultural initiatives and achieving significant progress in rural areas across the country. Farouk holds a Bachelors degree in Business and Commerce from Ain Shams University. With over 30 years of robust banking experience, he transformed the Agricultural Bank from a specialized institution into a comprehensive, full-service bank catering to all sectors. His efforts not only established the bank as a cornerstone of financial inclusion in Egypt but also facilitated substantial growth in the agricultural sector. During Farouks tenure, the Agricultural Bank of Egypt witnessed notable improvements in performance metrics, fulfilling its mandate to support the agricultural sector and promote sustainable rural development. Before joining ABE, Farouk had an extensive career at the National Bank of Egypt. He began in 2008 as the Regional Manager for Alexandria and later held various positions in Cairo, including Deputy Head of Branches, Head of Products and Retail Banking, and ultimately, Chief Executive Officer for Banking and Branches. Additionally, Farouk worked with several private banks, including Barclays Bank, one of the largest foreign banks operating in Egypt until its exit from the market in 2016.

[Category: Business, Alaa Farouk, Minister of Agriculture]

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[l] at 7/3/24 12:15pm
Sherif Mohamed Farouk has been sworn in as the Minister of Supply, succeeding Ali Moselhi. Prior to this appointment, Farouk held the position of Chairperson at Egypt Post starting from 21 July 2020, after serving as the acting chairperson for nearly two months. With an impressive banking career spanning 30 years, Farouk has specialized in restructuring banks and financial institutions. His expertise includes developing operations, training managers and specialists, overseeing personal banking services, private banking, branch network management, credit risk management, payment card industry, corporate loans, and business development. From March 2017, Farouk served as the Senior Vice Chairperson, CEO, and Managing Director of Nasser Social Bank, where he successfully led transformation and restructuring efforts. He also worked at the Egyptian Gulf Bank in Cairo from 2006 to 2017, the National Development Bank (currently Abu Dhabi Islamic Bank Egypt) from May 2004 to 2007, and the Egyptian American Bank (currently Crédit Agricole Egypt) from September 1989 to May 2002. Farouk holds a Bachelors degree in Commerce with a specialization in Accounting from Ain Shams University (obtained in 1987). Additionally, he earned a Masters degree in Business Administration with a specialization in Banking from the Arab Academy for Banking and Financial Sciences in 2009, and a PhD in Business Administration from Ain Shams University.

[Category: Business, Banking, Sherif Farouk]

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[l] at 7/3/24 10:07am
Maya Morsy, Egypts new Minister of Social Solidarity, took the constitutional oath before President Abdel Fattah Al-Sisi on Wednesday at the headquarters of the Egyptian Presidency. Morsy brings extensive experience to her new role. She has served as President of the National Council for Women since February 1, 2016. Prior to this, she headed the Regional Team for Womens Empowerment Programs and Policies at the United Nations Development Programmes (UNDP) Regional Center for Arab States from 2013 to 2016. From 2010 to 2013, Morsy was the Head of the United Nations Womens Office in Egypt. Between 1999 and 2010, she acted as the National Coordinator for projects with the United Nations Development Fund for Women, liaising with the Arab League. Morsy began her career in international organisations, including USAID and the UNDP. She is recognised as a politician specialising in public policy and a staunch advocate for womens and human rights.  

[Category: Business, Maya Morsy, Minister of Social Solidarity]

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[l] at 7/3/24 10:01am
Mohamed Abdel Latif was sworn in as Egypts Minister of Education and Technical Education on Wednesday, taking the oath before President Abdel Fattah Al-Sisi. He joins the cabinet led by Prime Minister Mostafa Madbouly, which has recently undergone several ministerial changes.   Abdel Latif brings a wealth of academic and professional experience to his new role. He holds a PhD from Cardiff City University in the United States and earned a Masters degree in Education Development from Lawrence University in the United States in 2012.   Throughout his career, Abdel Latif has held various significant positions in the education sector. He served as a board member of Future International, a company involved in the education industry, and was the executive director of the Nermeen Ismail Schools Group.   Furthermore, he was the managing director of AdvancED Education, a company specialising in the accreditation of American school certificates.   Abdel Latif is known for his numerous achievements in student activities and his efforts to adapt American diploma curricula to better suit Egyptian culture.

[Category: Egypt, Politics, Minister of Education, Mohamed Abdel Latif]

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[l] at 7/3/24 9:59am
Eagles Developments has launched its inaugural project in Sheikh Zayed City, investing EGP 2bn. The project, named VIA, covers a 16,000 sqm area. Raafat Fangary, Chairperson of Eagles Developments, emphasized that this project marks the beginning of the company’s expansion plan across the republic. With a diverse real estate portfolio exceeding EGP 5bn, Eagles Developments is actively exploring investment opportunities in the real estate market. The project will unfold in two phases. The first phase, spanning 8,000 sqm, involves EGP 1bn in investments and includes 100 residential units (occupying 22% of the total area). Construction is set to be completed by December 2027. Sheikh Zayed City was strategically chosen due to high demand and client interest. Eagles Developments asserted its commitment to selecting prime locations for its projects, ensuring optimal investment for clients. Additionally, the company is exploring opportunities in the New Administrative Capital and the North Coast. Eagles Developments has engaged DSC, the project’s consultant, to execute VIA according to the latest designs, incorporating comprehensive services.

[Category: Business, Eagles Developments]

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[l] at 7/3/24 9:56am
In a significant step toward promoting women’s financial inclusion and economic empowerment, Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), signed the “Women Entrepreneurs Finance Initiative (We-Fi)” code launched by the European Bank for Reconstruction and Development (EBRD) on 2 July 2024. This initiative aims to enhance access to finance for women-led micro, small, and medium enterprises (MSMEs) while providing essential technical support. The signing ceremony took place in the presence of Jürgen Rigterink, First Vice President of the EBRD, Matteo Patrone, EBRD’s Vice President for Banking, and senior management officials from the CBE. Hassan Abdalla commended the launch of We-Fi in Egypt, emphasizing its alignment with the state’s vision for women’s financial inclusion. The CBE’s ongoing efforts have led to significant progress, with the number of financially included women in Egypt reaching 20.3 million—a remarkable growth rate of 244% from 2016 to 2023. Jürgen Rigterink praised the CBE’s leadership in promoting financial inclusion, particularly in providing finance to women-led micro, small, and medium enterprises. The We-Fi initiative, implemented under the CBE’s guidance, aims to bridge the financing gap between genders in Egypt. He said: “The Central Bank of Egypt has led the promotion of financial inclusion, especially concerning availing finance to micro, small, and medium enterprises led by women, with EBRD’s commitment to supporting the CBE in this endeavour, through implementing the We-Fi initiative under CBE’s leadership as a multilateral platform to bridge the financing gap between genders in Egypt.” The We-Fi initiative will not only allocate funding but also provide technical support to strengthen capacities within the Egyptian banking sector, financial service providers, and relevant entities. By developing appropriate financial and non-financial products and services, it aims to achieve gender equality and reduce financing gaps for women entrepreneurs. Notably, We-Fi is a global partnership involving 14 governments, 8 multilateral development banks (MDBs), and other public and private sector stakeholders, hosted by the World Bank Group. The EBRD launched this initiative in three Arab countries: Egypt, Morocco, and Jordan.

[Category: Business, CBE]

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[l] at 7/3/24 8:56am
Ahmed Kouchouk has been sworn in as the Minister of Finance in the new cabinet led by Prime Minister Mostafa Madbouly, succeeding Mohamed Maait. Prior to this appointment, Kouchouk held the position of Deputy Minister of Finance for Fiscal Policies. Kouchouks educational background includes a Bachelors degree in Economics with honors from the American University in Cairo (1998). He also earned a Master’s degree from the John F. Kennedy School of Government at Harvard University (2010) and another Master’s degree in Economic Sciences from the University of Yorkshire (2002). His professional experience spans various roles: From June 2013 to the present, Kouchouk served as an Economic Expert at the World Bank in Cairo. Between May 2011 and 2013, he worked as Deputy Assistant Minister of Finance for the Deauville Partnership, a G8 initiative established in France to assist Arab countries. From September 2010 to May 2013, he directed the Macroeconomic Policy Unit at the Ministry of Finance. Earlier, from August 2010 to February 2011, he was Deputy Chairperson of the International Monetary and Financial Committee of the International Monetary Fund. Between 2004 and 2008, Kouchouk held the position of Executive Director of the Macroeconomic Policy Unit at the Ministry of Finance. He also worked as an Economic Advisor to the unit from 2004 to 2007. In 2007-2008, Kouchouk served as an Assistant Lecturer at the American University in Cairo. His earlier roles include working as an Economist at the Ministry of Economy and Trade (2002-2004) and as an Economic Researcher at the Ministry of Economy (1999-2001). In 2015, Kouchouk was elected to lead the Technical Support Department at the World Banks Cairo office, where he managed a team of economists and researchers within the Macroeconomic Policy Unit at the Ministry of Finance. Kouchouk has conducted numerous studies in microeconomics and growth diagnostics.

[Category: Egypt, Ahmed Kouchouk]

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