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Egypt projects 4% growth in 2025 amid strong economic reforms

Egypt projects 4% growth in 2025 amid strong economic reforms
Session titled “The Regional Economic Outlook of 2025,” (AN photos)
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Updated 13 February 2025

Egypt projects 4% growth in 2025 amid strong economic reforms

Egypt projects 4% growth in 2025 amid strong economic reforms
  • Results of fiscal discipline, says economy minister Rania Al-Mashat
  • Increased capital inflows, foreign direct investment being recorded

DUBAI: Egypt is likely to record 4 percent growth at the end of 2025, the nation’s Planning and Economic Development Minister Rania Al-Mashat said at the World Governments Summit on Wednesday.

In a session titled “The Regional Economic Outlook of 2025,” Al-Mashat, presented an optimistic view of Egypt’s trajectory amid global challenges.

Panelists during the session addressed disruptions Egypt has faced, notably the 70 percent decline in Suez Canal revenues.

In addition, they highlighted geopolitical tensions stemming from President Donald Trump’s recent threats to displace Palestinians to Egypt and Jordan.

Despite these challenges, Al-Mashat emphasized Egypt’s resilience and strategic economic measures.

“At the outset, macroeconomic stability is a necessary condition for growth and private sector engagement,” she said.

She detailed Egypt’s home-grown program with the International Monetary Fund since March 2024, focusing on fiscal consolidation, reducing domestic debt, stringent public investment discipline, and tighter monetary policy to control inflation.

These measures have restored macroeconomic stability, leading to increased capital inflows and foreign direct investment.

Al-Mashat reported 3.2 percent growth in the first quarter of the 2024/2025 fiscal year, with notable performance in the manufacturing sector, signifying stronger integration with global value chains.

However, she stressed that macroeconomic stability alone was insufficient without structural reforms aimed at increasing competitiveness, private sector involvement, and promoting the green transition.

Egypt has attracted nearly $4 billion in renewable energy investments over the past year, positioning itself as a regional energy hub.

“Agility and resilience are key,” she noted, projecting a 4 percent growth rate by year-end, despite global headwinds such as inflationary pressures and monetary policy shifts.

Al-Mashat concluded by emphasizing Egypt’s proactive stance in financing for development, including domestic resource mobilization, debt swaps, and concessional finance for the green transition, all vital for Egypt’s economic future.


Qatar meets ICC head as it mulls legal action against Israel

Updated 5 sec ago

Qatar meets ICC head as it mulls legal action against Israel

Qatar meets ICC head as it mulls legal action against Israel
DOHA: Qatar has met with the president of the International Criminal Court as it seeks legal action against Israel over its unprecedented strike on its territory last week, an official said on Thursday.
The emirate’s chief negotiator, Mohammed Al-Khulaifi, met in The Hague on Wednesday with the president of the ICC, Judge Tomoko Akane, as it pursues “every available legal and diplomatic avenue to ensure accountability for those responsible for Israel’s attack on Qatar,” the Qatari official told AFP.
Last week’s deadly Israeli strike targeted Qatar-based leaders of Palestinian militant group Hamas and sent shock waves through the Gulf states that have long depended on the United States for their security.
Hamas has said top officials of its political bureau, hosted in Qatar with US blessing since 2012, survived the strike but it said five members were killed, along with an officer of Qatar’s internal security force.
Speaking on condition of anonymity because of the sensitivity of the discussions, the official called Israel’s attack “unlawful,” adding it “constitutes grave violations of international humanitarian law.”
Qatar, as an observer state at the ICC, cannot itself refer cases to the court.
But after emergency talks in Doha, the Arab and Islamic blocs called on their members Monday to take “all possible legal and effective measures to prevent Israel from continuing its actions.”
In a post on X after his meeting with the ICC chief, Khulaifi said his visit had been “part of the work of the team tasked with exploring legal avenues to respond to the illegal Israeli armed attack against the State of Qatar.”
Last year, the ICC launched a prosecution of Israeli Prime Minister Benjamin Netanyahu for war crimes and crimes against humanity during Israel’s war in Gaza, including by intentionally targeting civilians and using starvation as a method of war.
The ICC also sought the arrest of Israel’s former defense minister Yoav Gallant and Hamas commander Mohammed Deif, who has since been confirmed killed by Israel.
The Gaza war was triggered by Hamas’s October 2023 attack, which resulted in the deaths of 1,219 people, most of them civilians, according to an AFP tally of Israeli official figures.
Israel’s retaliatory campaign has killed at least 65,141 people, also mostly civilians, according to figures from the territory’s health ministry that the United Nations considers reliable.

Gaza hit by telecoms blackout as Israeli tanks advance

Gaza hit by telecoms blackout as Israeli tanks advance
Updated 28 min 57 sec ago

Gaza hit by telecoms blackout as Israeli tanks advance

Gaza hit by telecoms blackout as Israeli tanks advance
  • The Palestinian Telecommunications Company said in a statement that its services had been cut off “due to the ongoing aggression and the targeting of the main network routes”
  • Hundreds of thousands of Palestinians have fled Gaza City since Israel announced on August 10 it intended to take control, but a greater number are staying put, either in battered homes among the ruins or in makeshift tent encampments

CAIRO: Israeli tanks were seen in two Gaza City areas that are gateways to the city center, residents said on Thursday, while Internet and phone lines were cut off across the Gaza Strip, a sign that ground operations were likely to escalate imminently. Israeli forces control Gaza City’s eastern suburbs and in recent days have been pounding the Sheikh Radwan and Tel Al-Hawa areas, from where they would be positioned to advance on central and western areas where most of the population is sheltering.
“The disconnection of Internet and phone services is a bad omen. It has always been a bad signal something very brutal is going to happen,” said Ismail, who only gave one name. He was using an e-SIM to connect his phone, a dangerous method as it requires seeking higher ground to receive a signal.
“The situation around me is very desperate. People in tents and in houses are very worried for their lives. Many can’t afford to leave, but many do not want to,” he said, speaking from a coastal area in the west of the city.

MAIN NETWORK ROUTES TARGETED, TELECOMS COMPANY SAYS
At least 14 Palestinians were killed by Israeli strikes or gunfire across the Gaza Strip on Thursday, including nine in Gaza City, local health authorities said.
The Palestinian Telecommunications Company said in a statement that its services had been cut off “due to the ongoing aggression and the targeting of the main network routes.”
In its latest statement to media, the Israeli military said troops were expanding their operations in Gaza City, dismantling what it called “terror infrastructure” and “eliminating terrorists.” The statement did not mention the telecoms blackout or give any details of tank movements.
It also said the military was continuing to operate in Khan Younis and Rafah in the south.
Hundreds of thousands of Palestinians have fled Gaza City since Israel announced on August 10 it intended to take control, but a greater number are staying put, either in battered homes among the ruins or in makeshift tent encampments.
The military has been dropping leaflets urging residents to flee toward a designated “humanitarian zone” in the south of the territory, but conditions there are dire, with insufficient food, medicine and space and inadequate shelter. Israel says it wants to smash the Palestinian militant group Hamas in its strongholds and free the last hostages still being held in Gaza, but its latest major offensive after two years of devastating war has drawn international condemnation.

TANKS SEEN IN TWO STRATEGICALLY LOCATED NEIGHBOURHOODS In Sheikh Radwan, which is north of the city center and has come under heavy bombardment in recent days, residents said they had seen tanks in the heart of their neighborhood.
They also said Israeli forces had detonated four driverless vehicles full of explosives and the blasts had destroyed many houses.
Similar explosions had rocked Tel Al-Hawa, which is located southeast of the city center, and residents there also reported seeing tanks in the streets. Israel announced on Tuesday it was launching the main phase of its ground assault, but the bombardment of several Gaza City areas had begun in previous days.
Israel said on Wednesday it was opening an additional route out of the city for 48 hours, urging civilians to move south.
Data from international aid agencies indicates that over 55,000 people fled northern Gaza between Sunday and Wednesday, but over half a million have not left, according to both Israeli and Hamas estimates.

PALESTINIAN DEATH TOLL PASSES 65,000, HEALTH AUTHORITY SAYS
The total Palestinian death toll from the two-year war between Israel and Hamas surpassed 65,000 on Wednesday, according to the Gaza health authorities. Palestinian officials and rescue workers say the true figure is likely higher as many remains are trapped under the rubble of destroyed buildings.
The war was triggered by the Hamas-led attacks on southern Israel on October 7, 2023, in which about 1,200 people were killed and 251 taken hostage, according to Israeli tallies.
Much of Gaza City was laid waste early in the war, but around 1 million Palestinians had returned there to homes among the ruins due to the awful conditions in displacement areas.


Gulf states hold urgent defense meeting in Doha

Gulf states hold urgent defense meeting in Doha
Updated 13 min 11 sec ago

Gulf states hold urgent defense meeting in Doha

Gulf states hold urgent defense meeting in Doha

DUBAI: The Gulf States Joint Defense Council convened an urgent meeting in Doha on Thursday to address regional security concerns.

According to Al Arabiya TV, discussions focused on the recent Israeli attack on Doha.

Details of the meeting’s outcomes have not yet been released.

The meeting comes after the Supreme Military Committee of the Gulf Cooperation Council (GCC) met on Wednesday, to discuss security threats and challenges facing GCC states. 

The meeting focused on measures to strengthen joint defenses and boost the Gulf’s deterrence capabilities.

The session was attended by Major General Issa bin Rashid Al Mohannadi, Assistant Secretary-General for Military Affairs, and Major General Abdulaziz bin Ahmed Al Balawi, Commander of the Unified Military Command.


Palestinian foreign ministry: Israel treating Gaza as ‘real estate’ reflects plans of genocide

Palestinian foreign ministry: Israel treating Gaza as ‘real estate’ reflects plans of genocide
Updated 18 September 2025

Palestinian foreign ministry: Israel treating Gaza as ‘real estate’ reflects plans of genocide

Palestinian foreign ministry: Israel treating Gaza as ‘real estate’ reflects plans of genocide
  • Palestine, Jordan also condemn Fiji’s decision to open an embassy in Jerusalem
  • Call move a violation of international law and a blow to the two-state solution

DUBAI: The Palestinian Foreign Ministry on Thursday accused Israel of pursuing policies aimed at genocide and displacement in Gaza, and condemned as inflammatory the comments of an Israeli minister who said the devastation in Gaza could be turned into a lucrative real estate project.
Israel’s finance minister Bezalel Smotrich described the Gaza Strip as “a real estate bonanza” and said a plan outlining its division had been shared with the United States, Israeli media reported on Wednesday.
US President Donald Trump once floated the idea of turning Gaza into a “Riviera of the Middle East.”
The ministry, in a statement, said that such rhetoric amounted to “official admissions” of Israeli intentions to destroy Gaza and displace its population, warning that the situation represented a deliberate escalation of crimes against Palestinians. 
It reaffirmed that Gaza is “an inseparable part of the land of the State of Palestine under international law,” and urged swift international intervention to stop Israeli actions and protect civilians.
The ministry also criticized Fiji’s decision to open an embassy in Jerusalem, calling it “an aggression against the Palestinian people and their legitimate rights.” It said the move violated international law and undermined prospects for peace.
Jordan’s Ministry of Foreign Affairs also issued a similar condemnation, describing Fiji’s decision as “a blatant violation of international law and UN resolutions” and “a direct threat” to a two-state solution. 
Ministry spokesperson Sufian Qudah stressed that any attempts to alter Jerusalem’s legal or political status are “null and void.”
Jordan reaffirmed its position that the only path to lasting peace and stability in the region lies in the establishment of an independent Palestinian state along the June 4, 1967, borders with East Jerusalem as its capital.


Jordan crown prince warns US over Israeli unilateral actions

Jordan crown prince warns US over Israeli unilateral actions
Updated 18 September 2025

Jordan crown prince warns US over Israeli unilateral actions

Jordan crown prince warns US over Israeli unilateral actions
  • The crown prince warned Israeli unilateral actions risk undermining peace and fueling extremism
  • He urged an end to the humanitarian crisis in Gaza and de-escalation in the West Bank

DUBAI: Jordan’s Crown Prince Hussein bin Abdullah II warned on Wednesday of the dangers posed by unilateral measures taken by the Israeli government, saying they undermine prospects for peace in the region and fuel extremist rhetoric.
In meetings with members of the US Congress, the Crown Prince emphasized the urgent need to end the humanitarian crisis in Gaza and to de-escalate tensions in the West Bank to restore regional stability.
During talks with Senate Foreign Relations Committee Chairman James Risch and committee member Senator Jeanne Shaheen, he highlighted the importance of supporting stability, sovereignty and territorial integrity in Syria and Lebanon. 
In a separate meeting with Senator Chris Van Hollen, a member of the Senate Appropriations and Foreign Relations Committees, the Crown Prince highlighted Jordan’s commitment to modernization at home and to restore regional calm.
He reaffirmed Jordan’s determination to continue providing support to the Palestinian people to help alleviate the unprecedented humanitarian crisis in Gaza.