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Egypt’s current account deficit narrows amid surge in remittances, tourism revenue

Egypt’s current account deficit narrowed significantly to $13.2 billion during the first nine months of the 2024/2025 fiscal year, down from $17.1 billion a year earlier, the Central Bank of Egypt announced on Tuesday, July 22. This improvement was driven primarily by an 86.6% surge in remittances from Egyptians abroad, reaching $26.4 billion, and a […]

Ismail Serageldin, an enlightened scholar brought to court

Ismail Serageldin, the director of the Bibliotheca Alexandrina, is being sued for squandering public funds after library staff accused him of abuse of power claiming he unfairly appointed advisors and gave them huge salaries. He was also accused of embezzling donations destined to the library and illegally transferring them to a bank account controlled by […]

King Mohammed VI hails Morocco-Iraq strong ties of brotherhood and cooperation

King Mohammed VI has hailed the strong ties of brotherhood and cooperation existing between Morocco and Iraq and renewed his determination to continue working together with the Iraqi President Abdel Latif Jamal Rachid to enshrine these ties in favor of the two brotherly peoples. This came in a message of congratulation the Monarch addressed to […]