Author: Grace Johnson

The renewed Egypt China currency swap agreement between Egypt and China highlights a growing shift in global trade finance, as countries look for alternatives to traditional dollar-based settlements while strengthening bilateral economic ties. The agreement, recently extended for another three years, increases its value from 18 billion yuan to 30 billion yuan, equivalent to roughly $4.4 billion. The arrangement between the Central Bank of Egypt and the People’s Bank of China allows both sides to access each other’s currencies under a pre-agreed framework to support trade and investment flows. The swap mechanism is not a loan or grant but a…

Egypt defender Hossam Abdelmaguid says he is ready to turn his childhood dream into reality as he prepares to represent his country at the FIFA World Cup. The Zamalek player described his journey from domestic league success to the global stage as a moment he once only imagined. Abdelmaguid, who recently lifted the Egyptian league title with Zamalek, is now focused on helping Egypt make an impact at the World Cup under coach Hossam Hassan. He said playing in the tournament was something he dreamed about since childhood, inspired by conversations with his older brother. He recalled telling his brother…

A new round of Gaza ceasefire talks Egypt is set to begin after a senior Hamas delegation arrived in Cairo for discussions with Egyptian mediators on advancing the next stage of the Gaza ceasefire agreement. The talks are expected to focus on implementing remaining steps from the first phase and preparing for a second phase of the deal. The Hamas delegation arrived in the Egyptian capital on Friday evening. According to a statement from the group, the team is led by Khalil al-Hayya, who heads Hamas’ negotiating team in Gaza. The delegation is scheduled to begin formal discussions on Saturday,…

Egyptian archaeologists have uncovered a rare and significant collection of funerary artefacts at the ancient Heliopolis necropolis in Cairo, shedding new light on burial traditions in one of the most important religious centres of the ancient world. The discovery was announced by the Ministry of Tourism and Antiquities following excavations carried out by an Egyptian archaeological mission at the Panhesy cemetery site in Ain Shams, which forms part of the broader ancient city of Heliopolis. Officials described the find as a near-complete funerary assemblage, including burial goods, ritual objects, and items believed to include gold jewellery. Experts say it is…

Egypt and a Chinese industrial group are advancing plans for a major new textile development project worth up to $2 billion, aiming to build what officials describe as a carbon-neutral industrial city focused on textiles and related manufacturing. The proposal was discussed during a high-level meeting in Egypt between government representatives and executives from Cloud Chain, a Chinese company leading the project. The delegation included Cloud Chain chief executive Huang Wei and chief financial officer Xian Chun, along with senior officials responsible for marketing and external relations. The project has been presented as the “Middle East and North Africa’s first…

Dutch technology company Strohm has secured a new offshore contract that marks its first entry into the Egyptian energy market, strengthening its position in subsea flowline solutions for deepwater gas developments. The agreement is linked to the West Delta Deep Marine (WDDM) concession, one of Egypt’s key offshore gas production areas located in the north-western Nile Delta. The project is operated by Burullus Gas Company, a joint venture involving international energy partners, including Shell. Shell’s joint venture Shell is involved in the wider development of the offshore concession, which includes multiple gas fields situated around 90 kilometres off the Egyptian…

Egypt is seeing a major step in home internet services as a new fiber system launches. The new service brings faster and more stable broadband to homes. It aims to improve coverage in every room and support modern digital life. Experts say fiber networks are replacing older copper systems in many countries. This shift improves speed and reduces outages. The service is launched by Telecom Egypt with technology support from Huawei. It introduces Fiber-to-the-Room technology. This system sends fiber signals directly into each room. It reduces weak signals and slow zones inside homes. Officials say the goal is to solve…

Bulgarians living in Egypt and Sudan gathered in Cairo to celebrate May 24, a national day dedicated to Saints Cyril and Methodius, as well as Bulgarian education, culture, and Slavic literature. The event brought together families, students, and members of the Bulgarian community in a cultural program highlighting national heritage. The celebration was held in Cairo and featured performances by students from the Bulgarian Sunday School. The school marked the occasion with poetry recitations and musical performances, including the traditional hymn “Varvi, Narode Vazrodeni,” which is widely associated with Bulgarian cultural identity. Deyan Katrachev spoke during the event and highlighted…

EU Egypt migration funding deal is under pressure as Cairo says support is not enough. Egypt is asking the European Union for more money to manage refugees and migrants. The issue is growing as Sudan war increases arrivals. The talks are part of a wider political and economic partnership between both sides. The debate is now central to migration policy in the Mediterranean region. It also reflects wider EU concerns over migration routes from North Africa. The European Union sees Egypt as a key partner to stop irregular migration across the Mediterranean. Egypt says it hosts millions of people. These…

Egypt has announced its preliminary squad for the upcoming World Cup, with a surprise decision to leave out Nantes striker Mostafa Mohamed while including teenage Barcelona youth player Hamza Abdelkarim. The squad selection has sparked discussion among fans and analysts, as coach Hossam Hassan prepares to finalize the final 26-man team ahead of the tournament in North America. Mostafa Mohamed’s omission stands out as one of the biggest talking points. The forward has struggled for consistency this season, scoring only four goals in 24 appearances for FC Nantes as the club suffered relegation from Ligue 1. In contrast, 17-year-old Hamza…