DIRS.INFO The most relevant business & tech news

☆ With Government Relocated, Egypt Set to Unveil Overhaul of Downtown Cairo
▼ + stars: | 2024-01-24 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The area, modelled on Paris in the 1860s, is filled with elegant but crumbling buildings constructed over the subsequent seven decades. The Sovereign Fund has already taken control of three prime properties in central Cairo, and received ownership of 11 former ministry buildings in a decree published this week in the official gazette. "Some of the buildings are already evacuated, but there is a mobilisation plan for relocating into concentrated locations for whoever is staying and not moving to the new capital," Soliman said. Work on the ground would begin "probably within the first half of this year," Soliman said. It would include a three-star Moxy hotel by Marriott, the first in Egypt, Soliman said.

Persons: Patrick Werr CAIRO, Ayman Soliman, Soliman, We're, Patrick Werr, Aidan Lewis, Alex Richardson Organizations: Sovereign Fund, Misr Insurance, Reuters, European Bank for Reconstruction, National Democratic Party, NDP, Marriott Locations: Paris, Cairo, Egypt

☆ In a Cairo hospital: Guilt, pain and a desperate wait
▼ + stars: | 2023-11-20 | by ( Eleni Giokos | ) edition.cnn.com time to read: +8 min

Today Wadea’s 9-year-old son, Abdelrahman, shares a hospital room at Nasser Medical Institute with his 14-year-old sister. Injured children board an ambulance to be transferred from Al-Aqsa Hospital to Egypt for medical treatment through Rafah on November 17, 2023. On Monday, 28 babies arrived in Egypt from Gaza at the Rafah crossing, according to an Egyptian government official. One baby was discharged in Gaza and went home with his parents to their temporary shelter, while two others stayed in the ICU unit of the Emirati hospital in Rafah, Gaza. Conditions in Gaza have grown desperate as fuel supplies dwindle, forcing the closure of 26 of the enclave’s 35 hospitals.

Persons: Rami Mahmoud, Elham Maged, Mahmoud, Cairo's, Cairo’s, “, ‘, ” Elham, ”, ’, Adel Hana, God, Rami, Elham, Muhammed Wadea, CNN Muhammed Wadea, Khan Younis, Abdelrahman, Wadea, Riham, Dr, Khaled Abdel Ghaffar, Mustafa Hassona, CNN's Eleni Giokos, CNN Ghaffar Organizations: CNN, Cairo's Nasser Medical Institute, Cairo’s Nasser Medical Institute, Nasser Medical Institute, Aqsa, Getty, United Nations Locations: Gaza City, Egypt, Gaza, Salah, Israel, Khan, Rafah, Qatar, United States, Al, Anadolu, Gazan

How the $13 trillion economy's slowdown will affect other emerging markets is still an unanswered question for investors. "Lower for longer Chinese growth is shaping a new regime of investments," Amundi's head of emerging markets Yerlan Syzdykov told Reuters. The World Bank trimmed its 2024 China growth forecast to 4.4% from 4.8%. 6/DEVELOPING REFORMThe World Bank, IMF and other multilateral development banks are under pressure to boost lending to poorer countries to fund development and tackle climate change. China and other large emerging economies have long demanded a greater say in the global financial architecture, which is still dominated by parameters set out by the 1944 Bretton Woods meeting, where the IMF and World Bank were established.

Persons: Abdelhak, Joseph Cuthbertson, Syzdykov, Anna Gelpern, Gregory Smith, Smith, Mehmet Simsek, Tayyip Erdogan, Erdogan, drubbing, Timothy Ash, Jorgelina, Rosario, Rachel Savage, Marc Jones, Karin Strohecker, Christina Fincher Organizations: International Monetary Fund, World Bank, Palais des, REUTERS, Federal Reserve, International Monetary, PineBridge Investments, Reuters, Bank, Ukraine, U.S, Kyiv, Paris Club, IMF, American, London, G Investments, JPMorgan, Egypt IMF, Fitch, Reuters Graphics Reuters, Finance, BlueBay Asset Management, Thomson Locations: Palais, Palais des Congres, Marrakech, Morocco, Argentina, Pakistan, Kenya, Egypt, CHINA, China, UKRAINE, Ukraine, Zambia, Sri Lanka, Ghana, Georgetown, Nigeria, TURKEY, Ankara, New York, Washington, London, Woods

☆ Egypt inaugurates newly restored Ottoman mosque at Cairo citadel
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

[1/8] Members of media record inside the restored Sariyat al-Gabal Mosque, also known as the Mosque of Suleyman Pasha al-Khadim, the first Ottoman mosque built inside the Salah al-Din Citadel in old Cairo, Egypt, September 16, 2023. REUTERS/Amr Abdallah Dalsh Acquire Licensing RightsCAIRO, Sept 17 (Reuters) - Egypt has inaugurated a newly restored Ottoman mosque, built by the 16th century governor Suleyman Pasha al-Khadim, that lies within the citadel that has dominated Cairo's skyline for centuries. The mosque, with 22 green-tiled domes and minbar (prayer niche) inlaid with renowned Iznik tiles, is Cairo's earliest Ottoman mosque, built in 1528 A.D., eleven years after the Ottoman army under Sultan Selim conquered Egypt from the Mamluk empire. The mosque, known as the Suleyman Pasha al-Khadim mosque and also the Sariya mosque, is inside Cairo's citadel. The citadel was built by the Muslim general Salah al-Din after he conquered Cairo from the Fatimids.

Persons: Suleyman Pasha, Salah, Amr Abdallah Dalsh, Sultan Selim, Sayed Sariya, Mostafa Waziri, Salah al, Din, Ahmed Fahmy, Amr Abdallah, Patrick Werr, Jane Merriman Organizations: REUTERS, Rights, Supreme, of Antiquities, Crusaders, Thomson Locations: Gabal, Ottoman, Din, Cairo, Egypt, Rights CAIRO, Cairo's, Jerusalem

☆ Cairo: The capital of capitals evolving in the shadow of ancient mysteries
▼ + stars: | 2023-09-13 | by ( Richard Quest | Joe Minihane | ) edition.cnn.com time to read: +9 min

CNN —There are cities, there are capitals and then there is Cairo. Chaotic, enchanting and magnificent, the Egyptian capital is awe inspiring and home to a raw energy that’s all its own. A world-class museumThe Grand Egyptian Museum has been decades in the making. Fadel Dawod/Getty ImagesAway from the bustle of central Cairo is something equally, quintessentially Egyptian. Close to Aswan, around 140 miles south of Luxor, lies Philae, an ancient temple with an equally amazing modern history.

Persons: Khan el, Sui Xiankai, Karim El Hayawan, “, ”, El Hayawan, ” El, –, Fadel Dawod, Tayeb Abbas, King Ramses II, Abbas, you’ve, Luke Mackenzie, Tutankhamun, Dr, Betsy Hiel, she’s, Egypt’s, Hiel, Aznar, iStock, “ Philae, Monica Hanna, Hanna, Peter Adams, Isis, Philae Organizations: CNN, Getty, Egyptian, GEM, Kings, UNESCO Locations: Cairo, Xinhua, Luxor, Giza, Salvador, Aswan, Philae, Egypt

Kenyan shipments of tea - its major export - have fallen by a fifth over the last year, according to the local regulator. The spike in global interest rates has already tipped Sri Lanka and Ghana into defaulting. Reuters GraphicsBLACK MARKETAlthough the dollar's share as a global reserve currency has dropped to 59% from 70% over a decade, it continues to dominate global trade. Nigeria has long had a web of multiple exchange rates which it is now trying to untangle, having also devalued its naira currency again last week. A plunge of around 70% in Bolivia's reserves has spawned queues at banks and currency exchange shops as some merchants stopped accepting local currency.

Persons: Wilson Muthaura, KTDA, Charlie Robertson, Muthaura, David Willacy, Ojo, Chaucer, Ronal, Luiz Inacio Lula da Silva, Kristalina Georgieva, William Ruto, Duncan Miriri, Marc Jones, Macdonald Dzirutwe, Monica Machicao, Mayela Armas, David Sherwood, Catherine Evans Organizations: Bank, FIM Partners, Reuters Graphics, Workers, REUTERS, La Paz, West, Reuters, JPMorgan, Monetary Fund, IMF, Fund, Thomson Locations: NAIROBI, LONDON, Pakistan, COVID, Russia, Ukraine, London, Islamabad, Egypt, Sri Lanka, Ghana, Tunisia, teetering, Nigeria, Kenya, StoneX, Nigeria's, Lagos, British, Cuba, Venezuela, Githunguri, Kiambu County, United States, Lebanon, Turkey, Ethiopia, China, India, Johannesburg, Saudi Arabia, Africa, Argentina, Nairobi, La Paz, Caracas, Havana

☆ Bulldozers tear into Cairo's historic Islamic cemeteries
▼ + stars: | 2023-06-19 | by ( Hatem Maher | ) www.reuters.com time to read: +3 min

[1/5] A view shows the City of the Dead, where tombs and historic cemeteries have been demolished due to a new construction project underway on the Salah Salem road, in the capital city of Cairo, Egypt, June 13, 2023. Known as the City of the Dead, the cemeteries along the eastern edge of Historic Cairo have been a resting place for Egypt's deceased since the arrival of Islam in the seventh century A.D. Some tomb owners who want to transfer the bodies of their family members say they are given little time beforehand. But only 102 sites among more than 2.5 million tombs in the area have received this designation, conservationists say. "I imagine that in five years' time, we won't find anything except maybe 20% of the current City of the Dead," Lafi said.

Persons: Salah, Hadeer Mahmoud, Sisi, Egypt's, Hisham Kassem, Abdel Fattah al, Ahmed Urabi, Hossam Abdel Azeem, Amr ibn, Moaaz, Lafi, Patrick Werr, Aidan Lewis, Emma Rumney Organizations: REUTERS, UNESCO, Thomson Locations: Salah Salem, Cairo, Egypt, CAIRO, Historic Cairo, el

Islamic Jihad also confirmed the agreement. Israel launched the latest round of airstrikes in the early hours of Tuesday, announcing that it was targeting Islamic Jihad commanders who had planned attacks in Israel. During the five days of the campaign, Israel killed six senior Islamic Jihad commanders and destroyed a number of military installations. At least 10 civilians, including women and children, were also killed in Gaza during the fighting, and two people - an Israeli woman and a Palestinian labourer - were killed by Palestinian rocket fire in Israel. Islamic Jihad spurns coexistence with Israel and preaches its destruction.

☆ Analysis: North Africa backslides toward swirling debt troubles
▼ + stars: | 2023-05-11 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Making debt payments could become almost impossible. EGYPTEgypt's finances also look stretched despite it securing a $3 billion IMF rescue plan in December. The rating agency, which downgraded Egypt's credit rating again on Friday, highlights that only default-stricken Sri Lanka would need to pay more. "It would not be immaterial if it were to default" Ross said about the impact on global money managers. "These very wealthy Gulf countries have generally enhanced financial stability in the region," via their support he added.

☆ IMF says yet to agree date with Egypt for programme review
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

Disbursements under the 46-month programme are subject to eight reviews, the first of which was dated March 15, 2023, in an IMF staff report published in December. "Egypt really needs to show some meaningful measures to rebuild confidence and show that the process has started," said Monica Malik of ADCB. "It's better to start the review once there is tangible signs of process with reforms, including on a flexible currency." In its December accord with the IMF, Egypt also promised to sell state assets worth billions of dollars over the next four years. "Egypt has done important reforms over the last few years, and the fund has been very supportive..," Azouri said.

☆ In Egypt's 'Garbage City', a charity teaches children to recycle
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

Now 34, she runs a charity that encourages children in the area to make creative and positive use of their environment by exploring the space and recycling. [1/3] Teresa Saeed, 34, founder of charity "Mesaha" known as "Space" in Arabic, works with children to collect materials from rubbish to recycle in Cairo's Zabaleen known as "Garbage City", in Manshiyat Nasser, Cairo, Egypt March 17, 2023. REUTERS/Hana Habib 1 2 3Saeed's charity Mesaha, the Arabic word for space, runs weekly recycling activities for 150-200 children aged 6-15. "These activities help children connect with their environment and think outside the box," Saeed said. "I dream that those children will grow to be leaders of change in their future professions or wherever they go" she said.

☆ Egypt unveils renovations of venerable Tahrir Square Museum
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Egyptian Minister of Tourism and Antiquities Ahmed Issa talks to the media at the Egyptian Museum during a news conference by Egypt's ministry of tourism and antiquities that unveiled a renovated wing at the museum, in Cairo, Egypt February 20, 2023. REUTERS/Amr Abdallah DalshCAIRO, Feb 21 (Reuters) - Egypt has inaugurated the first phase of renovations on the venerable Egyptian Museum in central Cairo, giving the collection a facelift after many of its objects were relocated to other museums around the country. Egypt hopes to grow its tourism industry by 25% to 30% a year, Tourism Minister Ahmed Issa said at the inauguration ceremony on Monday. The renovation, financed by the European Union and assisted by five major European museums including the Louvre and British Museum, was designed to modernise the presentation of the objects. "The Egyptian Museum continues to develop itself, allowing it to compete with the other major modern museums," Issa said.

☆ The most dangerous cruise routes, ports, and destinations are in parts of the world where conditions are unpredictable — and help is nowhere nearby, travel analysts say
▼ + stars: | 2023-02-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

But some cruise destinations and routes are prone to dangerous conditions and risky activity. These are some of the most dangerous cruise locations around the world. AntarcticaThe world's southernmost continent is among the most beautiful — and dangerous — cruise destinations, according to Chiron and Klein. Cruise passengers during a lifeboat drill in the Northwest Passage near Nunavut, Canada. National Park Service via APCruise lines avoid dangerous portsWhile rough seas and high winds can make ocean travel dangerous, uncertainties on land pose their own risks for visitors.

"George Santos' campaign last year was a campaign of deceit, lies and fabrication," Nassau County Republican Party Chairman Joseph Cairo said at a news conference. "He deceived the voters of the 3rd Congressional District, he deceived members of the Nassau County Republican committee, elected officials, his colleagues, candidates, his opponents and even some of the media," Cairo said. Nassau County Republican Party chairman Joseph Cairo and members of the Nassau County Republican Committee hold a news conference regarding the future of U.S. Representative George Santos (R-NY) at Nassau County Republican Committee in Westbury, New York, U.S. January 11, 2023. "He's a national joke, he's an international joke, but this joke's got to go," said Town of Hempstead Supervisor Don Clavin. As a member of Congress, Santos represents parts of Queens and Nassau County, a region of Long Island in New York.

Search resuls for: "Cairo's"

14 mentions found