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☆ Cairo is bursting at the seams, so Egypt is building a new $58 billion capital 30 miles away. Take a look.
▼ + stars: | 2024-05-04 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

The city, which already holds Africa's tallest building, is expected to cost $58 billion to build. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementLike Indonesia, Egypt is building a new capital — although in this case, it's responding to the challenge of overcrowding. The existing capital, Cairo, is home to about 22 million people, making it one of the world's most densely populated metropolitan areas. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, New, Business Locations: Cairo, Indonesia, Egypt

☆ She's worked for Nike, the NBA — and Maya Angelou. Meet abstract artist Ya La'ford
▼ + stars: | 2024-05-03 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +5 min

Artist Ya La'ford in front of one of her artworks. Ya La'fordAbstract artist Ya La'ford is in demand. Her commissions — including sculpture, installations and gallery exhibitions — mean she is fully booked for the next four years. "American Roots" (2021), an installation at The John and Mable Ringling Museum of Art in Sarasota, Florida, by Ya La'ford. The work was defaced in 2012 and restored in 2014, and Ya La'ford said it is one of her favorite artworks.

Persons: Ya, Ya La'ford, La'ford, She's, Janet Jackson, John, Maya Angelou, Maya, Melinda Gates, Mark Rothko's, London's, Rob Stothard Organizations: Nike, McLaren Racing, Orlando Magic, CNBC, NFL, Ringling Museum of Art, Fine Arts, Art Institute of Boston, University of Florida's Levin College of Law, Orlando Museum of Art . Orlando Museum of Art, U.S, Tampa Museum of Fine Arts, Asia, London's Tate, Getty Locations: St . Petersburg , Florida, Sarasota , Florida, Houston, China, Palenque , Colombia, St . Petersburg, Ogden , Utah, Jacksonville , Florida, Bronx , New York

☆ Watch CNBC's full interview with Egypt's foreign minister on the war in Gaza
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Egypt's foreign minister on the war in GazaEgypt's foreign minister, Sameh Shoukry, speaks to CNBC's Dan Murphy at the World Economic Forum in Riyadh about cease-fire talks between Israel and Hamas and Egypt’s humanitarian aid efforts.

Persons: Sameh Shoukry, CNBC's Dan Murphy Organizations: Economic Locations: Gaza, Riyadh, Israel

☆ Only the U.S. has the ability to break the cycle of violence in Gaza, Egyptian foreign minister says
▼ + stars: | 2024-04-29 | by ( Emma Graham | ) www.cnbc.com time to read: +1 min

Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza. Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has the overall ability to influence conditions, and to motivate all sides concerned to find the point of convergence, and to be able to break the cycle of violence." His words echoed other Arab leaders at the WEF meeting who believe that ending the war in Gaza falls on the United States. Shoukry pushed Washington to "leverage their ability to provide incentives, but also to indicate consequences for the lack of achievement or the lack of progress in the cessation of hostilities." Hamas is reportedly reviewing Israel's latest Gaza cease-fire proposal and a delegation from the group is scheduled to visit Cairo on Monday for talks, according to a Hamas official who spoke to Reuters.

Persons: Sameh Shoukry, CNBC's Dan Murphy, Shoukry Organizations: Egypt's, Reuters Locations: Israel, Gaza, Riyadh, Saudi Arabia, United States, Washington, Cairo

☆ War in Gaza has immediate implications on Suez Canal, Egyptian minister says
▼ + stars: | 2024-04-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWar in Gaza has immediate implications on Suez Canal, Egyptian minister saysRania Al Mashat, Egypt's minister for international cooperation, discusses the Egyptian economy as the Israel-Hamas war continues and amid the Houthi attacks in the Red Sea.

Persons: Rania Al Mashat Locations: Gaza, Suez, Israel, Red

☆ Egyptian diplomat discusses Gaza war, Israel-Iran war
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpansion of Israel-Iran conflict would be 'dangerous for all of us': Egypt ambassador to SingaporeAhmed Mostafa Abdelaal Mohamed, Egypt's ambassador to Singapore, discusses what the Israel-Iran conflict means for Egypt and the region's stability.

Persons: Singapore Ahmed Mostafa Abdelaal Mohamed Locations: Israel, Iran, Egypt, Singapore

☆ The beautiful African paradise islands that most tourists don’t know about
▼ + stars: | 2024-04-10 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

CNN —A couple of African paradise islands have been on the radar of avid world travelers for some time. Shellfish Bay on the island’s windward side shelters one of East Africa’s most spectacular beaches, a crescent of white sand framed by 100-meter dunes. Bazaruto Island Resort, the island’s top digs, can arrange scuba diving and snorkeling, sailing on traditional dhow boats, guided 4x4 wildlife safaris, sandboarding on the dunes and other outdoor activities. Lamu’s best beaches are on the island’s windward side, around a 30–40-minute walk via Shela village. — and an ancient stone nilometer for measuring the river’s water level — reflect the island’s importance during pharaonic times.

Persons: São Filipe, Denis, Ponta, Ariadne Van Zandbergen, Dar es Organizations: CNN, Ethiopian Airways, oneworld, Getty, UNESCO, Heritage, Cabo Verde Airlines, Overseas, Paris Orly, Animalia Museum, Egypt, Vogue, Reserve, Dar es Salam Locations: Mauritius, Seychelles, Canary, Africa, Madagascar, Addis Ababa, Bazaruto, Mozambique, East, sandboarding, Johannesburg, Vilanculos, Lamu, Kenya, Manda, Malindi, Nairobi, JamboJet, Fogo, Cape Verde, Cabo Verde, West Africa, Pico, Verde’s, Praia, Overseas Territory, Réunion, French Caribbean, L’Hermitage, Saint, Paris, Antananarivo, Elephantine, Egypt, Aswan, Bissagos, Guinea, Bissau, Bubaque, Pemba, Tanzania, Zanzibar, Tanga, Dar, FlightLink

☆ Truce Talks Between Israel and Hamas to Resume Sunday in Cairo, Egyptian Television Station Says
▼ + stars: | 2024-03-30 | by ( March | At P.M. | ) www.usnews.com time to read: +3 min

A Hamas official however told Reuters the group would wait to hear from Cairo mediators on the outcome of their talks with Israel first. Hamas has sought to parlay any deal into an end to the fighting and withdrawal of Israeli forces. Israel has ruled this out, saying it would eventually resume efforts to dismantle the governance and military capabilities of Hamas. The Israeli military said forces operating in Al Shifa killed three armed Hamas commanders inside two buildings of the medical facility. Hamas and medical staffers deny any armed presence inside medical facilities, accusing Israel of killing and arresting civilians.

Persons: Nidal, Al, Israel, Jihad, Al Shifa, Enas Alashray, Ahmed Tolba, Dan Williams, Leslie Adler, Giles Elgood Organizations: Al Qahera News, Reuters, Israel, Hamas, Forces, AK, Islamic Locations: Enas, CAIRO, Israel, Cairo, Gaza, Qatar, Egypt, Palestinian, Gaza City, Al

☆ UN Chief to Visit Gaza Border in New Plea for Truce
▼ + stars: | 2024-03-22 | by ( March | At P.M. | ) www.usnews.com time to read: +3 min

CAIRO (Reuters) - United Nations Secretary-General Antonio Guterres will visit Egypt's border with Gaza on Saturday to renew pleas for a ceasefire that could bring relief to a territory devastated by more than five months of war between Israel and Hamas. His trip comes as Israel threatens to launch a major military operation in the southern Gaza city of Rafah, just over the border from Egypt, despite international appeals against such an attack. He is expected to visit a hospital in Al Arish and meet U.N. humanitarian workers in Rafah. More than 32,000 people have been killed by Israel's military campaign in Gaza, many of them women and children, according to local health authorities. Guterres, who made one previous trip to Egypt's border with Gaza shortly after the war broke out, is visiting Egypt and Jordan as part of an annual "solidarity trip" to Muslim countries during Ramadan.

Persons: Antonio Guterres, Guterres, Jordan, Aidan Lewis, Edwina Gibbs Organizations: United Nations, Hamas, Palestinian Locations: CAIRO, Egypt's, Gaza, Israel, Rafah, Egypt, Arish, Sinai, Al Arish, United States, Cairo, Sudan, Darfur

☆ EU to Bolster Egypt Ties With Billions in Funding
▼ + stars: | 2024-03-16 | by ( March | At P.M. | ) www.usnews.com time to read: +4 min

The agreement is designed to enhance cooperation in areas including renewable energy, trade, and security while delivering grants, loans and other funding over the next three years to support Egypt's faltering economy. War in Israel and Gaza View All 222 ImagesInflation has been running close to record highs and many Egyptians say they struggle to get by. Of that, funding from the European Union is expected to total $5-6 billion, Finance Minister Mohamed Maait told Asharq Business. Egyptian officials say Egypt deserves recognition for hosting an estimated nine million foreign residents and largely shutting off irregular migration from its north coast since 2016. CROSSINGS VIA LIBYABut there has been a surge in Egyptians trying to cross to Europe via Libya, and the European Union is already providing funding aimed at reducing those flows.

Persons: Ursula von der, Mohamed Maait, Abdel Fattah al, Egypt's, Patrick Werr, Philip Blenkinsop, Renee Maltezou, Aidan Lewis, Nick Zieminski Organizations: IMF, Diplomats, Cypriot, European, Asharq Business, Rights Watch Locations: CAIRO, Egypt, Cairo, Israel, Gaza, Sudan, Qatar, United States, European Union, LIBYA, Europe, Libya, Crete, Gavdos, Bangladesh, Pakistan, Tunisia, Mauritania, U.S

☆ Turkey's Erdogan Calls for Pressure on Israel to Allow More Aid Into Gaza
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkish President Tayyip Erdogan on Tuesday called for increased international pressure on Israel to ensure more humanitarian aid is allowed into Gaza, and said Ankara will increase its support during the Muslim holy month of Ramadan. "We all know very well that as long as attacks on Gaza and the siege continues, the amount of aid is not enough. Of course, pressure needs to be put on Israel for this," he added, referring to Egypt's border crossing with Gaza. Last week, Turkey's Kizilay (Red Crescent) sent its biggest aid shipment yet to Gaza, dispatching a ship carrying some 3,000 tons of food, medicine and equipment. Netanyahu said on Tuesday that Israel would press forward with its military campaign into Rafah in the southern Gaza Strip.

Persons: Tayyip Erdogan, Israel, Erdogan, Benjamin Netanyahu, Turkey's Kizilay, Netanyahu, Susan Fenton Organizations: Israel Locations: ANKARA, Israel, Gaza, Ankara, Ramadan, Turkey, Egypt, Western, Rafah

☆ Egypt hikes interest rates by 600 basis points, pound crumbles to record low
▼ + stars: | 2024-03-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Egypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The Egyptian pound was trading at roughly 50 to the dollar following the announcement, from 30.85 previously, according to LSEG data. The country's key interest rate now stands at 27.25%, the central bank said Wednesday. Egypt, the Arab world's most populous country at roughly 110 million people, is facing a protracted shortage of foreign currency. "In preparation for the successful implementation of these measures, sufficient funding has been secured to avail foreign exchange liquidity."

Persons: James Swanston, Egypt's Organizations: International Monetary Fund, Economics, United, IMF, Monetary, Government, P Global Market Intelligence Locations: Egypt, East, Africa, London, United Arab Emirates, Cairo

☆ Fraudster who peddled fake pre-IPO Airbnb stock falsely claimed to represent Egypt's Mansour family
▼ + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

The family office is not named in the complaint, but details from court filings and online records match those of Man Capital, the family office of the Mansour family. Man Capital was started in 2010 by billionaire Mohamed Mansour, one of three brothers behind Egypt's second largest company, and his son, Loutfy Mansour. Rafiq had no connection to Man Capital or parent company Mansour Group. A spokesman for Man Capital declined to comment to CNBC, as did the Manhattan U.S. Attorney's Office, which is prosecuting Rafiq. In the summer of that year, Rafiq allegedly created created fake domain names and email addresses masquerading as a senior executive at the family office.

Persons: Shamoon Rafiq, Mansour, Mohamed Mansour, Loutfy Mansour, Rafiq Organizations: Nasdaq, Man, Man Capital, Group, General Motors, Caterpillar, CNBC, Manhattan U.S, Attorney's Locations: New York, Manhattan, U.S, Singapore

☆ Egypt Says Displacement Is Unacceptable, but Will Deal With Civilians Humanely
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

CAIRO (Reuters) - Egypt's foreign minister said on Saturday that while his country would deal with civilians humanely, the displacement of Palestinians remained unacceptable. Reuters reported on Friday that Egypt was preparing an area at the Gaza border which could accommodate Palestinians in case an Israeli military offensive into Rafah prompts an exodus across the frontier. War in Israel and Gaza View All 209 ImagesEgypt has repeatedly denied making such preparations. The area being established includes parking areas for trucks, warehouses, administrative offices, and accommodation for drivers, the governor said. Egypt has repeatedly raised the alarm over the possibility that Israel's devastating Gaza offensive could displace Palestinians into Sinai - something Cairo says would be completely unacceptable- echoing warnings from Arab states such as Jordan.

Persons: Sameh Shoukry, Shoukry, Jordan, Jon Irish, Sarah El Safty, Angus MacSwan Organizations: Munich Security Conference, Reuters Locations: CAIRO, Egypt, Gaza, Rafah, Israel, North Sinai, Sinai, Cairo

☆ Egypt is building a mysterious 16-foot-high wall near the border with Gaza and it won't say why
▼ + stars: | 2024-02-16 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

Egypt has begun construction of a wall near its border with Gaza, according to reports. This comes amid increased border security in anticipation of Israeli attacks. AdvertisementEgypt is building a wall near Gaza's border, but the government has refused to say what it will be used for, CNN and The New York Times reported. Egyptian security officials told CNN on Friday that the country's border security has increased as a precaution ahead of an expected Israeli attack in Rafah, where around 1.4 million Palestinians are seeking shelter. AdvertisementAn unnamed contractor and engineer who said they were working on the construction told The Times that the Egyptian army had ordered it.

Persons: — Organizations: Service, CNN, The New York Times, Maxar Technologies, Construction, The Times, Times, Sinai Foundation, Human Rights, Reuters, Egypt's, Information Service Locations: Egypt, Gaza, Gaza's, Rafah

☆ Egypt setting up area at Gaza border which could be used to shelter Palestinians, Reuters reports
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +4 min

Israel has said its army is drawing up a plan to evacuate civilians from Rafah to other parts of the Gaza Strip. Israel has said it will mount an offensive to take out Hamas's "last bastion" in Rafah, where well over 1 million Palestinians have sought sanctuary from its devastating Gaza offensive. Three security sources said Egypt had begun preparing a desert area with some basic facilities which could be used to shelter Palestinians, emphasizing this was a contingency step. The United States has repeatedly said it would oppose any displacement of Palestinians out of Gaza. A U.S. State Department spokesperson said: "The president has been clear that we do not support the forced displacement of Palestinians from Gaza.

Persons: Khan, Israel, Martin Griffiths, Joe Biden, Benjamin Netanyahu Organizations: Palestinian Hamas, United, Egypt's, Service, Sinai Foundation, Human Rights, Reuters, Israeli, U.S . State Department Locations: Khan Yunis, Rafah, Gaza, Egypt, Israel, Palestinian, United States, Sinai, Cairo, Jordan, U.S, The U.S

☆ Egypt Denies Allegations of Participating in Any Process Involving Displacement of Gazans Into Sinai
▼ + stars: | 2024-02-16 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

CAIRO (Reuters) -Egypt categorically denied allegations of participating in any process involving the displacement of Palestinians in the Gaza Strip into the Sinai Peninsula, the country's State Information Service (SIS) said on Friday. He said such scenario would entail "a definite liquidation of the Palestinian cause and a direct threat to Egyptian sovereignty and national security." Describing any sort of displacement as a "crime advocated by some Israeli parties", Rashwan said Egypt will take all necessary measures to stop it. Earlier this week, Egypt hosted talks involving the U.S., Israel and Qatar on a possible Gaza truce. An Egyptian source said the country was optimistic that talks to clinch a ceasefire can avoid the prospect of displacement.

Persons: Rahswan, Rashwan, Ahmed Tolba, Adam Makary, Hatem Maher, Jonathan Oatis Organizations: Information Service, Reuters, Wall Street, SIS, Sinai Foundation, Human Rights, U.S Locations: CAIRO, Egypt, Gaza, country's, Rafah, Israel, Qatar

☆ Egypt Setting up Area at Gaza Border Which Could Be Used to Shelter Palestinians-Sources
▼ + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

One of the sources said Egypt was optimistic talks to clinch a ceasefire can avoid any such scenario, but is establishing the area at the border as a temporary and precautionary measure. War in Israel and Gaza View All 209 ImagesThree security sources said Egypt had begun preparing a desert area with some basic facilities which could be used to shelter Palestinians, emphasising this was a contingency step. Israel has said its army is drawing up a plan to evacuate civilians from Rafah to other parts of the Gaza Strip. A U.S. State Department spokesperson said: "The president has been clear that we do not support the forced displacement of Palestinians from Gaza. The Gaza war has piled pressure on relations between Egypt and Israel, which signed a peace deal in 1979.

Persons: Jordan, Martin Griffiths, Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Avi Dichter, Dichter, Al Mawasi, General Ahmed Aboul Gheit, Sameh Shoukry, Tom Perry, Edmund Blair, Neil Fullick Organizations: Reuters, United, Egypt's, Service, Sinai Foundation, Human Rights, Israeli, U.S . State Department, ABC News, Israel's Army, Arab League Locations: Egypt, Gaza, Rafah, Cairo, Sinai, United States, Israel, ISRAEL, U.S, The U.S, Jordan

☆ Brazil's Lula Slams Israel on Gaza War, Says UN Failed
▼ + stars: | 2024-02-15 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

CAIRO (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Thursday that the United Nations has failed to resolve international conflicts and harshly criticized Israeli actions in Gaza. Lula said there would not be peace without the establishment of a Palestinian state and called for an immediate ceasefire to allow humanitarian aid into Gaza. War in Israel and Gaza View All 209 Images"The killing must be stopped," he said. Lula said the permanent Security Council should be expanded and its veto powers abolished. Brazil has supported South Africa's case brought before the International Court of Justice against the Israeli military campaign in Gaza, he added.

Persons: Luiz Inacio Lula da Silva, Abdel Fattah al, Lula, Sisi, who's, Israel, Lisandra Paraguassu, Peter Frontini, Anthony Boadle, Andrew Cawthorne, Nick Macfie Organizations: United Nations, Arab League, . Security, Security, International Court of Justice Locations: CAIRO, Gaza, Brazil, Palestinian, Israel, Palestine

☆ Inconclusive Gaza Truce Talks Dent Hopes of Palestinians in Rafah
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +6 min

By Nidal al-MughrabiCAIRO (Reuters) - Palestinians jammed into their last refuge in Gaza voiced growing fear on Wednesday that Israel will soon launch a planned assault on the southern city of Rafah after truce talks in Cairo ended inconclusively. Said Jaber, a Gaza businessman who is sheltering in Rafah with his family, told Reuters via a chat app. We've had enough of this war, and we will need decades to rebuild Gaza and regain our lives. Rafah residents said on Tuesday that dozens of displaced people had begun to leave Rafah after Israeli shelling and air strikes in recent days. At least 28,576 Palestinians have been killed and 68,291 injured in Israeli strikes on Gaza since Oct.7, the health ministry in Gaza said on Wednesday.

Persons: Nidal, Israel, Said Jaber, We've, Annalena Baerbock, Benjamin Netanyahu, Khan Younis, Nasser, Dr Haitham Ahmed, William Burns, Nidal al, Dan Williams, Emily Rose, Timothy Heritage, Ros Russell Organizations: Reuters, Israeli, Nasser Hospital Locations: CAIRO, Gaza, Rafah, Cairo, inconclusively, United States, Israel, Egypt, Qatar, hideouts, Berlin, Rafa, Hamas, Khan, Jeruslame

☆ Turkey's Erdogan on First Egypt Visit in Decade With Gaza in Focus
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

CAIRO/ANKARA (Reuters) -Turkish President Tayyip Erdogan made his first visit to Egypt since 2012 on Wednesday to meet President Abdel Fattah al-Sisi, taking a big step toward rebuilding ties between the regional powers. Erdogan has said discussions would focus on Israel's Gaza offensive. The visit caps diplomatic efforts in recent years to thaw the nations' frosty relations. They mutually appointed ambassadors last year, and this month Turkey said it would provide Egypt with armed drones. (Reporting by Nayera Abdallah and Tala Ramadan in Dubai, Ece Toksabay in Ankara, Writing by Jonathan Spicer; Editing by Andrew Heavens)Photos You Should See View All 22 Images

Persons: Tayyip Erdogan, Abdel Fattah al, Erdogan, Egypt's, Sisi, Mohamed Mursi, Nayera Abdallah, Tala, Jonathan Spicer, Andrew Heavens Organizations: Muslim, Ece Toksabay Locations: CAIRO, ANKARA, Egypt, Turkey, Israel, Gaza, Ankara, Cairo, Dubai

☆ Biden says 'my memory is fine,' disputes special counsel's report in national address
▼ + stars: | 2024-02-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

"My memory has not gotten worse," Biden told reporters in a nationally televised address at the White House hours after Hur released his report. But moments later, Biden referred to Egypt's president as the "president of Mexico." "How in the hell dare he raise that," Biden said of Hur. The main legal takeaway from Hur's report was the special counsel's decision not to criminally charge Biden despite what Hur said was the president's willful retention of classified documents and disclosure of of some classified material to the ghostwriter of his 2017 memoir. Biden said, "I've seen the headlines since the report was released about my willful retention of documents.

Persons: Joe Biden, Robert Hur, Biden, Hur, Beau Biden, Beau, I've Organizations: Department of Justice, White Locations: Mexico

☆ The US risks joining a long list of powers that tried and failed to stop the Houthis
▼ + stars: | 2024-02-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But while the US enjoys overwhelming military superiority over the Houthis, defeating this tribal movement would be a nightmare. Case in point: Egypt tried to suppress the Houthis in the 1960s. Today's Houthis are attacking ships in the Red Sea – and hurling ballistic missiles at Israel – ostensibly in response to Israel's military operations in Gaza. Indeed the rebellion eased Israel's lightning victory in the 1967 Six-Day War, a fact that the Houthis have chosen not to publicize.

Persons: —, Gamal Abdel Nasser, Jesse Ferris, Nasser's Gamble, Nasser, quagmire, Islam –, Yemen —, Ferris, Mohammed Hamoud, Israel –, Israel, Lawrence Organizations: Service, Business, Broadway, Israel Democracy Institute, Palestine, US, Royalists, British, Yemeni Locations: Yemen, Egypt, Vietnam, British, Zaidi, Islam, Arab, Soviet, Russia, America, Afghanistan, Gaza, Saudi, Britain, Israel, Iran

☆ Egypt Receives Hamas Response to Gaza Truce Proposal, Working to Reach Final Formula
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

CAIRO (Reuters) - Egyptian officials said on Tuesday they have received Hamas' response to a framework ceasefire agreement for the Gaza Strip, a statement from Egypt's State Information Service said. "We will discuss all the details of the proposed framework with the concerned parties to reach an agreement on the final formula as soon as possible," Diaa Rashwan, head of the State Information Service, was quoted as saying. Egyptian security sources told Reuters on Tuesday that Hamas' response showed flexibility, asking for a specific timeline for the ceasefire to end after the Muslim Eid al-Fitr holiday in early April. "Egypt will continue to exert its utmost efforts in order to reach a ceasefire agreement in the war-ravaged Gaza Strip soon," Rashwan said. War in Israel and Gaza View All 194 Images(Reporting by Ahmed Mohamed Hassan, Nafisa ElTahir; Writing by Adam Makary; Editing by Chris Reese and Cynthia Osterman)

Persons: Rashwan, Ahmed Mohamed Hassan, Nafisa, Adam Makary, Chris Reese, Cynthia Osterman Organizations: Service, State Information Service, Reuters Locations: CAIRO, Gaza, Egypt, Israel

☆ Red Sea tensions risk significantly higher inflation, OECD warns
▼ + stars: | 2024-02-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

watch nowElevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday. The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38 member countries by nearly 5 percentage points if they persist. That could add 0.4 percentage points to overall price rises after a year, the OECD said in its latest economic outlook. Clare Lombardelli, chief economist at the OECD, told CNBC on Monday that a sustained increase in inflation as a result of the latest crisis is a risk, but not the group's base case. "It's something we're watching closely ... we have seen an increase in shipping prices, if that were to continue for for an extended period, then that would feed through into consumer price inflation.

Persons: Ahmed Gomaa, Clare Lombardelli, Lombardelli, Tiemen Meester, it's, Meester Organizations: Organisation for Economic Co, Development, OECD, Xinhua News Agency, Getty, CNBC Locations: Paris, Suez, Europe, Asia, Iran, Yemen, United States, Ismailia Province, Egypt, Good, Africa, Dubai

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