First Independent Mena Newspaper
A deadly incident occurred in Egypt’s Red Sea on Thursday March 27 when a tourist submarine sank during a trip to the resort city of Hurghada. The submarine, named Sinbad, was carrying 45 foreign tourists, including Russians, Indians, Norwegians, and Swedish, as well as five Egyptian crew members. Six Russian nationals tragically lost their lives […]
The Egyptian and Palestinian Prime ministers stressed the importance of maintaining a ceasefire in Gaza to enable early recovery and reconstruction efforts. During a meeting in Cairo on Sunday March 23, Egyptian Prime Minister Mostafa Madbouly reaffirmed his country’s unwavering support for the Palestinian people and their right to remain on their land throughout the […]
Egyptian President Abdel-Fattah El-Sisi disclosed that the country is losing approximately $800 million per month in revenue from the Suez Canal due to the ongoing regional tensions. He made this announcement during the annual Iftar banquet hosted by the Armed Forces. El-Sisi reflected on the challenges faced by Egypt over the past 15 years, highlighting […]
Egypt’s Ministry of Higher Education and Scientific Research is advancing its “Alliance and Development” initiative as part of the National Policy for Sustainable Innovation, which was launched in February 2025. This initiative aims to enhance the country’s scientific research capabilities, accelerate technological innovation, and strengthen the connection between academia and industry to create globally competitive […]
Emirates NBD, the largest bank in Dubai by assets, has commenced due diligence on a potential acquisition of a stake in Banque du Caire, Egypt’s sixth-largest commercial bank. This acquisition is part of Egypt’s ongoing efforts to privatize state-owned businesses as the country seeks to raise up to $2.5 billion in its 2024-2025 fiscal year. […]
The International Monetary Fund (IMF) Executive Board completed its fourth review of Egypt’s economic reform program under the Extended Fund Facility (EFF) arrangement, granting the country immediate access to approximately $1.2 billion. The approval, announced on Tuesday March 11, marks a significant step in Egypt’s ongoing efforts to stabilize and reform its economy with the […]
Egypt’s tax revenues surged by 38 percent in the first half of the 2024/2025 fiscal year, according to Finance Minister Ahmed Kouchouk. During a panel organized by the Egyptian Association for Direct Investment and Venture Capital, Kouchouk attributed this growth to the Government’s ongoing efforts to broaden the tax base and strengthen cooperation with taxpayers. […]
Egypt is set to establish a new trade entity aimed at strengthening exports across Arab markets, as part of a broader strategy to drive economic growth. The Arab Alliance for Industrial Investment, comprising 41 private Egyptian companies, is expected to be fully operational by next week, according to a report by Ashraq Business released on […]
Amnesty International has called on Egyptian authorities to halt reprisals against prisoners at 10th of Ramadan Prison who have been protesting against their arbitrary detention through a hunger strike. The detainees began their strike in early January 2025, demanding the release of those held in pretrial detention for over six months, the right to outdoor […]
Morocco and Egypt are reviewing their free trade deals after Egyptian authorities-imposed restrictions on Morocco’s car exports. The news was confirmed by spokesman for the government Mustapha Baitas who said relations between the two countries were excellent but their trade agreement was being reviewed by trade officials. News outlets from the two countries mentioned that […]