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☆ Eni, Chevron announce new gas discovery in Egyptian East Med field
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 15 (Reuters) - Italian energy group Eni (ENI.MI) and U.S. energy major Chevron (CVX.N) said on Sunday they had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. km Nargis Offshore Area concession operated by Chevron (CVX.N), which holds a 45% interest in it. Eni also holds a 45% stake, while Egypt's Tharwa Petroleum Company SAE holds a 10% interest. State-controlled Eni is looking for new gas sources as it aims to completely replace gas imports from Russia by 2025 following the fallout from Russia's invasion of Ukraine. The new discovery is located in the Nargis-1 exploration well and "can be developed leveraging the proximity to Eni's existing facilities", the group said in a statement.

☆ Eni announces new gas discovery offshore Egypt
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: 1 min

MILAN, Jan 15 (Reuters) - Italian energy group Eni (ENI.MI) said on Sunday it had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. State-controlled Eni is looking for new gas sources as it aims to completely replace gas imports from Russia by 2025 following the fallout from Russia's invasion of Ukraine. The new discovery is located in the Nargis-1 exploration well and "can be developed leveraging the proximity to Eni's existing facilities", the group said in a statement. km Nargis Offshore Area concession operated by Chevron (CVX.N), with a 45% interest in it. Eni also holds a 45% stake, while Tharwa Petroleum Company SAE holds a 10% interest.

☆ Egypt's currency weakens to 26.49 to the dollar
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] Coins of a one Egyptian pound are seen at the Mint Museum, in Cairo, Egypt January 25, 2021. REUTERS/Amr Abdallah Dalsh/File PhotoCAIRO, Jan 4 (Reuters) - The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct. 27, according Refinitiv Data. Currency flexibility has been a key demand by the International Monetary Fund, which approved a 46-month, $3 billion financial rescue package in October. read moreThe currency has weakened from 19.7 to the dollar in March. Black market currency dealers continued to buy dollars for 29 pounds each on the black market on Wednesday, even after the devaluation.

☆ Final farewell: From Sidney Poitier to Pope Emeritus Benedict a look back at the influential figures who died in 2022
▼ + stars: | 2023-01-01 | by ( Associated Press | ) www.nbcnews.com time to read: +55 min

Other world leaders who died in 2022 include former Soviet leader Mikhail Gorbachev, who died in August. The final days of 2022 saw the loss of some exceptionally notable figures, including Pope Emeritus Benedict XVI. Here is a roll call of some influential figures who died in 2022 (cause of death cited for younger people, if available):___JANUARY___Dan Reeves, 77. A Cuban-born artist whose radiant color palette and geometric paintings were overlooked for decades before the art world took notice. A prolific character actor best known for playing villains and tough guys in “The Manchurian Candidate,” “Ocean’s Eleven” and other films.

☆ Did we get Egyptian mummification totally wrong? It might have nothing to do with preserving the body after death, experts say.
▼ + stars: | 2022-12-30 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Egyptians may not have used mummification to preserve the body at all, some scientists say. Their aim may have been to turn royal remains into godly statues — preservation was a perk, they say. Instead, the experts say, Egyptians intended to turn their pharaohs into statues, works of art with religious significance. The approach is explored in the upcoming "Golden Mummies of Egypt" exhibition, which opens at the Manchester Museum in February. Manchester Museum/ Julia ThorneStatues were seen by ancient Egyptians as godly.

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

☆ Most Gulf markets retreat on Fed rate woes, oil price slump
▼ + stars: | 2022-12-11 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +3 min

Dec 11 (Reuters) - Most major Gulf equities eased on Sunday on falling oil prices amid supply woes and uncertainty over a price cap on Russian oil, while the Egypt index fell on price corrections. "Also oil prices could witness further downtrend this week as recession fears may fuel demand concerns, with European price cap on Russian oil remaining a source of uncertainty," added Mourad. Saudi Arabia's benchmark index (.TASI) fell 1.1%, with oil behemoth and index heavyweight Saudi Aramco (2222.SE) sliding 1.8% and Luxury real estate developer Retal Urban Development Company (4322.SE) losing 0.7%. However, Saudi National Bank (1180.SE) and ACWA Power (2082.SE) jumped 2% and 4.4% respectively. (IQCD.QA)Outside the Gulf, Egypt's blue-chip index (.EGX30) also eased 1.7%, ending eight straight days of gains.

☆ Archaeologists have discovered full-color portraits of Egyptian mummies in ancient Philadelphia
▼ + stars: | 2022-12-10 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

Archaeologists have uncovered the first full-color portraits of mummies in over a century. Researchers found the two full portraits of Egyptian mummies and fragments of others at the Gerza excavation site in Fayoum, Egypt, making these artworks the first of their kind to be discovered in over 115 years. English archaeologist Flinders Petrie was the last to find similar artwork when he discovered 146 mummy portraits at a Roman cemetery in 1911, Artnet News reports. The collection of paintings, known as the Fayoum portraits, portrays some of the wealthiest people that existed in these ancient communities. A statement from the Egyptian government explains that pharaoh Ptolemy II Philadelphus (309–246 B.C.)

Leaders of Arab League states spanning the Gulf, Levant and Africa began arriving in Riyadh on Thursday when Xi received a lavish reception by Prince Mohammed and signed a China-Saudi partnership pact with King Salman, demonstrating deepening ties. Oil giant Saudi Arabia is a top supplier to China and the joint statement reaffirmed the importance of global market stability and energy collaboration, while striving to boost non-oil trade and enhance cooperation in peaceful nuclear power. Xi invited King Salman to visit China, Saudi state television reported. Diplomats said the Chinese delegation would sign agreements and memoranda of understanding with several states in addition to Saudi Arabia, which inked an MOU with Huawei on cloud computing and building high-tech complexes in Saudi cities. The Chinese tech giant has participated in building 5G networks in most Gulf states despite U.S. concerns over a possible security risk in using its technology.

☆ Ancient Egyptian mummies were found with gold tongues meant to help them talk with the god of the underworld
▼ + stars: | 2022-12-08 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +2 min

Ancient Egyptian mummies were discovered buried with gold tongues in their mouths. Some of the mummies were also originally coated with gold flakes. It is the latest in a series of mummies found with gold tongues in the mouth. Last year, archaeologists reported finding mummies with gold tongues twice, once in El Bahnasa, about 136 miles south of Cairo, and once in Alexandria. Gold flakes were also found on the bones of some of the remains, per the Facebook post, suggesting their bodies were sprinkled with gold.

☆ Fiance of U.S. citizen detained in UAE fears he will be extradited to Egypt
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Dec 4 (Reuters) - An Egyptian-American national detained while visiting the United Arab Emirates fears he will be extradited to Egypt for criticising authorities there ahead of the country hosting the COP27 climate conference last month, his fiance said on Sunday. The UAE, a close ally of Egypt, arrested Sherif Osman, who resides in the United States, on Nov. 6 at the request of an Arab League entity responsible for coordinating law enforcement and security matters, a UAE official confirmed to Reuters on Thursday. The United States was aware of Osman's arrest in Dubai, a U.S. State Department spokesperson said on Thursday, and was "watching his case closely and providing appropriate consular support". Osman's fiance said she had travelled to the UAE with him to meet his sister, who lives in Dubai, and his mother who had planned to visit from Egypt. The UAE official had said the UAE "strictly adheres to all internationally accepted standards" in detention cases including regular consular access and legal council.

☆ Egypt to build 21 desalination plants in phase 1 of scheme - sovereign fund
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Dec 1 (Reuters) - The first phase of Egypt's plan to develop large-scale water desalination will cover 21 plants with a capacity of 3.3 million cubic metres daily at a cost of $3 billion, the CEO of the country's sovereign fund said on Thursday. Egypt, which recently hosted the COP 27 U.N. climate talks and is trying to boost investment in renewables, aims to start production on its green hydrogen projects in 2025-2026, Soliman told the Reuters NEXT conference. Reporting by Aidan Lewis; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ American Arrested in Dubai at Risk of Deportation to Egypt
▼ + stars: | 2022-11-30 | by ( Stephen Kalin | Chao Deng | ) www.wsj.com time to read: 1 min

DUBAI—An American citizen arrested recently on a visit to the United Arab Emirates faces possible extradition to his native Egypt after criticizing Egyptian President Abdel Fattah Al Sisi and calling on Egyptians to protest in videos he made while living in the U.S.Sherif Osman, 46, an Egyptian-American dual national, was one of a handful of Egyptians abroad urging people to organize demonstrations during a United Nations climate summit in November held in the Egyptian beach city of Sharm El Sheikh and attended by world leaders including President Biden.

"The Egyptian pound will likely remain under pressure until more U.S. dollar inflows from GCC (Gulf nations) and committed foreign direct investment materialises," said Carla Slim at Standard Chartered Bank. Last month's IMF deal has provided some respite. ,"Egypt has got a high debt load and arguably it is more vulnerable even than Pakistan in terms of debt payments as a share of revenues," said Renaissance Capital's chief economist Charlie Robertson. "But the difference is, it has been proactive and been quick to go to the IMF," Robertson added, noting Egypt also has strong support from rich Gulf countries. Egypt's IMF negotiations dragged on for seven months and drove its second big devaluation of the year.

☆ Ivanka Trump posts vacation photos from Egypt after skipping Trump's 2024 launch and saying she's done with politics
▼ + stars: | 2022-11-22 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Ivanka Trump, Jared Kushner, and their three children went on vacation in Egypt, photos show. Trump's eldest daughter posted Instagram photos of the family riding camels and touring pyramids. Their vacation comes less than a week after she said she will not be joining Trump's 2024 campaign. A post shared by Ivanka Trump (@ivankatrump)The trip underscored the divide within the Trump family prompted by the new campaign. In a statement posted last week, Ivanka said that she loves her father "very much," but was done with politics.

☆ After rocky buildup, football ready to grab World Cup spotlight
▼ + stars: | 2022-11-20 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

As host of the Middle East's first World Cup the Emir Sheikh Tamim bin Hamad al-Thani is expected to welcome a star-studded guest list of celebrities and political leaders including Saudi Arabia's crown prince and the presidents of Egypt and Algeria. The controversy that has long surrounded the decision to award the tiny Gulf state the World Cup has built to a crescendo ahead of the tournament, with unrelenting scrutiny of its treatment of migrant workers and the LGBT+ community. "We are ready," Hakeem Ahmad told Reuters as he entered the stadium with his wife and two children. "Whatever happens on the pitch, the world should look kindly on us today. "We hope that after today people will see Qatar in a different light, for who we really are.

☆ Biden at 80: A ‘respecter of fate’ considers a second White House bid
▼ + stars: | 2022-11-20 | by ( ) www.cnbc.com time to read: +14 min

US President Joe Biden disembarks from Air Force One upon his arrival at the airport of Egypt's Red Sea resort city of Sharm El-Sheikh, to attend the COP27 climate conference, on November 11, 2022. It's soon time for Joe Biden, 80 on Sunday, to decide whether he has one more mountain to climb — the one to a second term as president. Getty: President Joe Biden gives remarks on student debt relief at Delaware State University on October 21, 2022 in Dover, Delaware. "While President Biden may chronologically be 80 years old, biologically he probably isn't," he said. U.S. President Joe Biden smiles during a rally with Democratic nominee for Maryland Governor Wes Moore, U.S.

Rising salinity in the Delta has multiple causes, experts and farmers say, including overextraction of groundwater and excessive use of fertilizers and pesticides. "With time, with the sea level higher, that line of salinity will go down into the Delta. EVAPORATIONSea water intrusion and salinity also threaten the Mekong Delta in Vietnam and the Ganges-Brahmaputra Delta in Bangladesh. "You have to do much better job in a place like the Nile Delta because the water just evaporates quickly," she said. Rice cultivation helps wash the soil, but the government has imposed restrictions on the crop in parts of the Delta to conserve scarce water.

☆ Take a look inside the United Nations climate summit in Egypt: luxury resorts, world leaders, bad food, and long lines
▼ + stars: | 2022-11-17 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +2 min

There are some 35,000 people attending the United Nations COP27 climate summit in Egypt. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Long stretches of highway separate the luxury coastal resorts, with their green grass and water fountains, from the dusty desert and many half-constructed buildings. Small protests are allowed inside, where UN rules apply, but outside and across the rest of Egypt, political dissent is effectively banned. Take a glimpse inside before the summit comes to a close on Friday.

☆ 'Profoundly disturbing': The PR firm for the COP27 climate summit has a long history with Big Oil
▼ + stars: | 2022-11-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

"Hill and Knowlton is the main lobbying communications firm for the oil industry," said Duncan Meisel, campaign director at Clean Creatives, a U.S.-based group working to disentangle the PR industry from the fossil fuel sector. "Any PR firm that is actively supporting to promote [a] narrative of continued fossil fuel expansion under any circumstances is a problem," Muffett told CNBC via telephone. watch nowIt comes at a time of growing momentum for calls to end fossil fuel production worldwide. U.N. Secretary-General Antonio Guterres recently called out what he described as the "massive public relations machine raking in billions to shield the fossil fuel industry from scrutiny." "Fossil fuel interests need to spend less time averting a PR disaster — and more time averting a planetary one."

☆ Egyptian-British hunger striker's family say they received 'proof of life' letter
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

CAIRO, Nov 14 (Reuters) - The sister of Egyptian-British activist Alaa Abd el-Fattah said on Monday the family had received a letter from prison that served as "proof of life" from the hunger striker. Since then his family and his lawyer had made repeated trips to the prison where he is detained northwest of Cairo, but had received no news on his condition. Since he obtained British citizenship in December, British officials have sought unsuccessfully to secure consular access to Abd el-Fattah. Abd el-Fattah's lawyer Khaled Ali said he was at the prison along with his mother Laila Soueif, and was waiting for prison authorities to allow him to visit. Egypt's public prosecutor said on Thursday Abd el-Fattah was in good health, after the family said they were informed that medical intervention had been carried out to maintain his health.

☆ Germany warns its delegation of Egyptian spies at COP27
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +3 min

Comments last week by German Chancellor Olaf Scholz about Egypt's human rights record provoked the threat of surveillance, that person said. Two other officials in Germany confirmed the existence of the warning, though they declined to elaborate on its specific wording. Three German attendees at COP27, from non-governmental organizations and industry, said they had received verbal warnings from other attendees and delegations of possible surveillance. "To this end, we are in continuous exchange with the Egyptian side," the official said, speaking on condition of anonymity. "A decision needs to be taken, a release has to be made possible, so that it doesn't come to it that the hunger striker dies," Scholz told reporters.

☆ Sister of jailed hunger striker says she has appealed to Egyptian president
▼ + stars: | 2022-11-12 | by ( ) www.nbcnews.com time to read: +2 min

A sister of jailed hunger striker Alaa Abd el-Fattah said she has appealed directly to Egypt’s president for an amnesty for her brother, whose protest has overshadowed a global climate summit in Egypt this week. Mona Seif resubmitted a request for clemency which she first made in June, along with a personal plea to Egypt’s President Abdel Fattah al-Sisi, she said in a post on social media late on Friday. Sisi met U.S. President Joe Biden at the COP27 climate summit in the Red Sea resort of Sharm el-Sheikh on Friday. Sisi said he told Biden that Egypt has launched a national strategy for human rights and a national dialogue. Abd el-Fattah, a prominent blogger and activist who has been in detention for much of the last decade, has been on hunger strike since April 2.

☆ U.S. doing all it can for release of hunger striker in Egypt, security adviser says
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +3 min

SHARM EL-SHEIKH, Egypt, Nov 12 (Reuters) - The United States is doing "everything it can" to secure the release of Egytian-British activist Alaa Abd el-Fattah from jail in Egypt and President Joe Biden raised the case with his Egyptian counterpart, the U.S. national security adviser said on Saturday. "We are doing everything we can to secure his release, as well as the release of a number of other political prisoners," Sullivan told reporters on Air Force One after leaving Egypt. Sisi said he told Biden that Egypt has launched a national strategy for human rights and a national dialogue. Rights groups say tens of thousands of people have been arrested since then including Islamists, leftists and liberals. Reporting by Dominic Evans and Nandita Bose; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

☆ Sister of jailed hunger striker says she has appealed to Egypt president
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +2 min

SHARM EL-SHEIKH, Egypt, Nov 12 (Reuters) - A sister of jailed hunger striker Alaa Abd el-Fattah said she has appealed directly to Egypt's president for an amnesty for her brother, whose protest has overshadowed a global climate summit in Egypt this week. Sisi met U.S. President Joe Biden at the COP27 climate summit in the Red Sea resort of Sharm el-Sheikh on Friday. Without naming Abd el-Fattah, the White House said Biden raised human rights during their talks. Sisi said he told Biden that Egypt has launched a national strategy for human rights and a national dialogue. Abd el-Fattah, a prominent blogger and activist who has been in detention for much of the last decade, has been on hunger strike since April 2.

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