Economy

$69 Billion in Debt’s Grip: Africa Returns to the IMF’s Embrace as a Last Resort

  Sahar Ragab Amid mounting debt burdens exceeding $650 billion and a scarcity of low-cost financing alternatives, African nations are increasingly turning back to the International Monetary Fund (IMF) as a primary lifeline. Since the onset of the COVID-19 pandemic in 2020, the Washington-based lender has disbursed nearly $69 billion …

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A New Chapter in Strategic Partnership: Zhang Tao Highlights Momentum in Chinese-Egyptian Relations

By Wagdy Abdel Aziz In concluding his speech at a seminar held in Cairo, Zhang Tao, Chargé d’Affaires of the Chinese Embassy in Egypt, underscored the unprecedented momentum in Chinese-Egyptian relations, emphasizing that they are at their “zenith” thanks to the strategic guidance of Presidents Xi Jinping and Abdel Fattah …

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Tianjin Summit: China Calls for Global Governance Reform and Peace Promotion in Zhang Tao’s Speech

By: Wagdy Abdelaziz In a seminar held in Cairo this morning, Zhang Tao, Chargé d’Affaires of the Chinese Embassy in Egypt, delivered a comprehensive speech, dedicating its second part to the Shanghai Cooperation Organization (SCO) Summit held in Tianjin in 2025, describing it as “the largest and most fruitful” in …

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Turkish stores continue to expand in the Egyptian market

Wagdy Abdelaziz Colin’s, a rapidly growing retail chain in Egypt, opened its 16th store at Cairo Festival City Mall. Turkish Ambassador to Cairo Salih Mutlu Şen confirmed that Turkish retail chains are rapidly expanding and growing in Egypt. The well-known Colin’s chain, which manufactures in Turkey and Egypt, opened its …

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World food prices increase in April, UN’s FAO says

May 2 (Reuters) – Global food commodity prices increased in April, driven by higher cereal, meat and dairy product prices that outweighed falls in sugar and vegetable oils, the United Nations’ Food and Agriculture Organization said on Friday. The FAO Food Price Index, opens new tab, which tracks monthly changes in …

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Moroccans Protest Ship Suspected of Carrying Us Fighter Jet Parts to Israel

More than 1,000 people protested Sunday in the Moroccan port city of Tangier against the planned docking of a Danish vessel said to be carrying fighter jet parts to Israel. The French CGT union claims no such weapons have been found. Dockworkers and organisations supporting Palestinians in Gaza said in …

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 Turkish investments in Africa stand currently at US$10 billion

Wagdy Abdelaziz Prof. Dr. Ömer Bolat, Minister of Trade, Republic of Türkiye, has stressed that his country attaches great importance to strengthening international trade partnerships in light of the current global economic challenges. He pointed out that Turkiye seeks to establish new frameworks of cooperation based on transparency and reducing …

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Egypt’s Gateway Open to Turkish Investors

Wagdy Abdelaziz Asian Ambassadors’ Group hold a meeting  at the Turkish Ambassador’s   residence, with the participation of Egyptian Finance Minister Ahmed kouhk. Ambassadors from 15 Asian countries attended the meeting, with Finance Minister Ahmed Koujk serving as the guest of honor and keynote speaker. Finance Minister Ahmed Koujk noted the …

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10.3 Million tons of food wasted in South Africa as chefs push for sustainability

Muhamad Yehia.. Cairo Here at FYN attention to detail is everything, not just the food on the plate, but every aspect of the business. The restaurant in Cape Town’s city centre is the first on the African continent to be given the Sustainable Restaurant Association’s highest accolade – 3 stars …

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China’s Xi urges cooperation with EU as trade war escalates

Muhamad Yehia.. Cairo Chinese President Xi Jinping on Friday called for stronger cooperation between his country and the European Union to resist ”bullying”. Xi was meeting Spanish Prime Minister Pedro Sanchez who is visiting Beijing. His remarks come as a trade war with Washington escalates, with president Donald Trump authorizing …

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