Another official decision that imposes a minimum wage to be paid to workers in the private sector has been issued by the government. In January 2024, the National Wages Council (NWC) issued a decision requiring private sector businesses—regardless of their ability or profitability—to raise the minimum monthly wage from EGP3,000 to EGP3,500, and accordingly amend all other wages paid by the institution. On 8 April 2024, NWC issued decision no. 27 for year 2024 signed by Hala Elsaid, Minister of Planning and Economic Development, and head of NWC, raising the minimum monthly wage in the private s ..read more

In the wake of the stabbing of Bishop Mar Mari Emmanuel, former member of the Ancient Assyrian Church of the East and current leader of the Sydney-area Christ the Good Shepherd Church, on the evening of 15 April 2024, the Coptic Orthodox Diocese of Sydney issued a media release statement expressing its deep sadness and its condemnation of the attack. Coptic Church statement The statement, dated 16 April 2024, read: “The Coptic Orthodox Diocese of Sydney, led by His Holiness Pope Tawadros Il and His Grace Bishop Daniel, expresses deep sadness over the recent incident involving Bishop Mar Mari E ..read more

Coptic Mass was celebrated for the first time in Belgrade, Serbia, last week. Anba Giovanni, Coptic Orthodox Bishop of Central Europe, presided over the Mass which was hosted by the Serbian Orthodox Patriarchate. Attending the Coptic Mass in Belgrade was Patriarch Porfirije, Patriarch of the Serbian Orthodox Church, also scores of Coptic Egyptians living in Serbia. During his tour of the region, Anba Giovanni visited Slovakia where he celebrated Mass and ordained deacons. Watani International 15 April 2024 ..read more

Thirteen Egyptian universities have been listed in the 20th edition of the QS World University Rankings 2024. The universities are Cairo University, the American University in Cairo, Alexandria University, Ain Shams University, Mansoura University, Al-Azhar University, Assiut University, Helwan University, the Arab Academy for Sciences, the German University in Cairo, Zaqaziq University, Tanta University and Suez Canal University. Cairo University was listed among leading universities is six areas: Archaeology, Dentistry, Development Studies, Hospitality Management, Linguistics and Statistics ..read more

Once President Sisi was sworn in on 2 April 2024, commencing his third presidential term that runs till 2030, many have voiced their aspirations for the President to tackle various issues on the political, economic and social fronts. Among the most significant, if not the most significant, has been the issue of improving the quality of life of Egyptians, which naturally involves weathering inflation and price fluctuations. Self-evidently, the President has to focus on national security and foreign policy issues, given the delicate balances they hold. Another issue which is in no way less impor ..read more

A contract was signed on 7 April between the General Authority for the Suez Canal Economic Zone (SCZone) and the Turkish “Eroğlu DNM”, for the establishment of a factory to produce denim jeans in Qantara West Industrial Zone.   The contract was signed at SCZone headquarters in Egypt’s New Administrative Capital some 40km northeast Cairo, by Chairman of SCZone Waleid Gamal Eldien; and Nurten Eroğlu, head of the Eroğlu Holding Group. A number of senior SCZone officials and Eroglu Group representatives attended. The USD40 million project sits on an area of some 62,000 sq.m. It provides ..read more

The General Authority of the Suez Canal Zone (SCZONE) has signed a contract with the Chinese Ministry of Commerce, to establish a vocational training centre, as announced in a SCZONE press release statement. The centre will stand over 40,000 sq.m, and its construction cost which is expected to stand at 128 million Chinese yuan (approximately USD18 million) will be covered by the Chinese government as a grant to Egypt under the cooperation agreement between the two countries. Once the designs and construction drawings are settled, SCZONE statement said, construction should start. The contract ..read more

A framework agreement was signed on 27 March between the General Authority for the Suez Canal Economic Zone (SCZone) and Saint-Gobain Egypt. According to the agreement, a glass factory will be built in the SCZone industrial zone in Ain Sokhna. Prime Minister Mostafa Madbouly and Walid Gamal El Dein, Chairman of the General Authority of the Suez Canal Economic Zone attended the signing ceremony. The agreement was signed by Mohamed Abdel-Gawad, Vice President of the General Authority of the Suez Canal Economic Zone; and Ahmed Wafik, CEO of Saint-Gobain Egypt. The foundation stone of the new fac ..read more

The Suez Canal Economic Zone (SCZONE) announced on 3 April that it has been recognised by the Global Alliance of Special Economic Zones (GASEZ) as a Sustainable Development Goals (SDG) Model Zone Partner. SCZONE is among the 50 top partners out of 7000 economic zones that GASEZ represents. The selection was made according to the guidelines set during the World Investment Forum of the United Nations Trade Conference UNCTAD in October 2023 in the UAE, and the second GASEZ Annual Conference held in November 2023 in Barcelona. The top 50 partners were selected according to a number of criteria inc ..read more

In support of empowering women to expand their businesses, the Central Bank of Egypt’s (CBE) FinTech Egypt has launched its initiative “Women for Women in FinTech”. The six-month initiative aims to support women entrepreneurs by providing innovative FinTech solutions that could help expand their businesses. The initiative was launched in March 2024, and runs for six months. It provides intensive training sessions and workshops in various fields, highlighting the significance of FinTech, and guiding entrepreneurs in adopt ing innovative solutions in their businesses. “Women for Women in FinTech ..read more