First Independent Mena Newspaper
Brokering a ceasefire in Gaza and Lebanon was high on the agenda of a Group of Seven (G7) foreign ministers’ meeting in the Italian city of Fiuggi on Monday (25 November). Signs emerged of progress on a cease-fire between Israel and Hezbollah as foreign ministers from the world’s leading industrialized nations met in Italy, with […]
Egyptian authorities announced on Monday, November 25, that 28 individuals were rescued after a tourist boat capsized off the Red Sea coast, with search efforts underway to locate 17 others still missing. The vessel, identified as Sea Story, was carrying 31 tourists from various countries and 14 crew members when it sent out distress signals, […]
Egypt’s Arab African International Bank (AAIB) issued Africa’s largest private green bond worth $500 million to fund its sustainable development operations. Three renowned development financial institutions: the IFC, the EBRD, and British International Investment (BII) teamed up in this issuance, subscribing to the entire bond. The bond is also reflective of a strong commitment to […]
Egyptian MP Essam Diab has urged Prime Minister Mostafa Madbouly and Communications Minister Amr Talaat to ban TikTok, accusing the platform of undermining societal and family values. Diab described in a Facebook statement, the app as a source of “debauchery and obscenity” threatening Egyptian identity and ethics. Diab, who submitted a formal briefing request, argued […]
Egypt’s annual core inflation rate stood at 24.4% in October 2024, showing a slight decrease from 25% in September 2024, according to data released by the Central Bank of Egypt (CBE). This figure, which excludes volatile items like food and energy, indicates a modest easing of inflationary pressures. The monthly core Consumer Price Index (CPI) […]
Africa’s digital transformation is well underway, with mobile internet emerging as a significant catalyst for economic growth. A report by ‘The Economist Intelligence Unit’ estimates that expanded mobile internet use could contribute as much as $795 billion to the continent’s GDP. This opportunity aligns with the growing role of digital technology in Africa’s economic and […]
The ongoing Gaza conflict has severely affected Egypt’s economy, leading to a sharp 70 percent drop in Suez Canal revenues Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said. In an interview with Youm7, Georgieva acknowledged Egypt’s commitment to advancing crucial economic reforms despite the challenges posed by regional instability. Georgieva announced plans […]
The World Bank has revised Tunisia’s 2024 economic growth forecast downward to 1.2%, compared to the 2.4% projected in April 2024. In its October 16, 2024 report, “Growth in the Middle East and North Africa,” the Bank expects Tunisia’s growth to stabilize at 2.2% in 2025. The report cites weak growth across the MENA region, […]
Egypt has officially launched a Fund dedicated to investment in the Nile Basin, aimed at fostering development through collaboration with neighboring countries. This initiative was announced on October 14. The fund is designed to facilitate investment in development and infrastructure projects across the Nile Basin nations, adhering to strict economic standards to enhance project success […]
Somalia said it welcomes an Egyptian offer to deploy troops once the mandate of an African Union peace keeping mission expires in December. The decision is seen from Ethiopia as a hostile move, amid tension between Cairo and Addis Ababa over the Ethiopian renaissance dam. Somalian officials issued a statement following a summit in the […]