Egyptian President Abdel Fattah al-Sisi visited Ireland to discuss the ongoing crisis in Gaza and strengthen bilateral ties with the country.  

A six-story residential building in central Cairo collapsed, resulting in the deaths of eight people and injuries to three others.

Egyptian President Abdel Fattah al-Sisi, during his historic visit to Norway, discussed Gaza conflict resolution, bilateral cooperation, and green energy initiatives with Norwegian leaders.

The first shipment of Egypt’s delayed 430,000-ton Russian wheat purchase has begun loading, marking a significant step in securing the country’s wheat supply.

Egypt and Denmark signed a strategic partnership declaration, focusing on regional stability and mutual cooperation in political, economic, and cultural matters during President al-Sisi’s visit to Copenhagen.

Egypt is set to privatize up to four military-owned companies as part of its broader economic reform plan.

On Monday, Egypt hosted an international conference in Cairo to garner humanitarian support for Gaza, which has been devastated by over a year of conflict between Hamas and Israel. The event was attended by numerous senior regional and Western officials, as well as UN Deputy Secretary-General Amina J. Mohammed and other top UN representatives, according to Egypt’s Foreign Ministry. The conference was convened amid a rapidly worsening humanitarian crisis in Gaza, particularly in the northern regions, which have been nearly cut off from the rest of the Strip for almost two months. Discussions at the conference focused on the political, security, and humanitarian challenges in Gaza, with a particular emphasis on supporting the operations of UNRWA, the UN agency responsible for Palestinian refugees. On Sunday, UNRWA announced it would suspend aid deliveries through the Kerem Shalom crossing, Gaza’s main cargo entry point, due to the threat of armed groups looting aid convoys. The agency cited the breakdown of law and order in Gaza, which it attributed to Israel’s policies. This move by UNRWA could exacerbate Gaza’s already dire humanitarian situation, as a second cold and rainy winter approaches. Hundreds of thousands of Palestinians remain in overcrowded and unsanitary tent camps, heavily dependent on international aid. Experts have warned of the potential for famine in Gaza’s northern regions, which have been almost entirely isolated by Israeli forces since early October. In response, Israel’s military body responsible for coordinating humanitarian aid to Gaza stated on X (formerly Twitter) that it would continue to work with the international community to increase aid deliveries through Kerem Shalom and other crossings. It also claimed that in November, UNRWA coordinated less than 10% of the aid that entered Gaza.

Central bank data reveals a $1.12 billion decline in Egypt’s net foreign assets in October, ending the month at $9.21 billion compared to $10.33 billion in September.

Hamas representatives are traveling to Cairo for talks on a potential ceasefire and prisoner exchange in Gaza.

A tourist boat capsized in the Red Sea, leaving 17 people missing and 28 rescued.

IMF Highlights Progress in Egypt’s Reforms, Assesses Global Economic Challenges The International Monetary Fund (IMF) reiterated its support for Egypt’s reform program, noting significant progress despite ongoing economic difficulties exacerbated by regional tensions. Speaking in Washington, D.C. on Thursday, IMF Communications Director Julie Kozack praised Egypt’s commitment to key reforms designed to ensure macroeconomic stability. The IMF recently completed a mission to Egypt, making headway in discussions for the fourth review of the country’s 46-month loan program, which was approved in 2022 and expanded to $8 billion earlier this year. The program aims to address Egypt’s severe economic challenges, including high inflation and foreign currency shortages. Completing the review could unlock an additional $1.2 billion in financing for the country. Limited Economic Impact of Spain’s Floods The IMF also addressed the economic effects of the recent devastating floods in Spain, offering condolences to those impacted. While the floods caused significant damage in some areas, Kozack noted that the broader economic impact has been limited. Key infrastructure sectors such as transport and industry saw only minor disruptions. A more detailed assessment will be provided in the IMF’s World Economic Outlook update in January. Argentina’s Stabilization Efforts Show Progress The IMF also pointed to signs of economic stabilization in Argentina, following a challenging year of contraction. As the country works on restructuring its $44 billion loan with the IMF, Kozack reported progress in Argentina’s stabilization program, including reduced inflation, fiscal surpluses, stronger reserve coverage, and early signs of recovery in economic activity and real wages. The IMF pledged continued support to help Argentina maintain these gains and address remaining challenges. These updates underscore the IMF’s ongoing efforts to assist member countries in tackling complex economic issues and implementing reforms necessary for long-term stability.

The mother of a jailed British-Egyptian activist, Alaa Abdel Fattah, is on a hunger strike to pressure the UK government to secure his release from an Egyptian prison.
 

Egypt is negotiating long-term LNG deals with foreign companies to reduce reliance on the volatile spot market and address declining domestic gas production.

Egyptian Foreign Minister Badr Abdelatty held talks in Cairo on Thursday with UN envoy for Sudan Ramtane Lamamra to discuss cease-fire efforts in the war-torn country. Discussions between the two sides dwelt on the Sudanese crisis and ways to solve the conflict there, the Egyptian Foreign Ministry said in a statement. “Egypt is keen on preserving Sudan’s interests and maintaining its territorial integrity,” Abdelatty said. He said Cairo is engaged in regional and international efforts “to reach a cease-fire and settlement in Sudan to end the suffering of the Sudanese people,” according to the statement. The top diplomat voiced concern over the deteriorating humanitarian conditions in Sudan, reiterating Egypt’s commitment to “safeguarding Sudan’s interests, sovereignty and territorial integrity.” At least 12,260 people have been killed and more than 33,000 injured in the conflict that started in April 2023, according to UN figures. The UN has repeatedly warned that Sudan is facing the world’s worst displacement crisis, as the war shows no signs of ending and the threat of famine looms.

Egypt’s trade relations with Turkey are “very robust and balanced,” reflecting a healthy economic partnership between the two countries, according to Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib. Egypt and Turkey “have highly diversified exports, which strengthen their trade relationship,” Khatib said in an interview with Anadolu. “Turkey is the first export destination to Egypt globally and Egypt is one of Turkey ’s most significant trade partners in Africa, while Türkiye is the top export destination for Egyptian goods,” he added. Khatib landed in Turkey on Monday to attend the opening session of the 40th Ministerial Conference for Trade Ministers of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (OIC). His talks in Turkey aimed at exploring ways to enhance trade and investment relations between Ankara and Cairo. According to the minister, the bilateral trade volume reached $6.9 billion in 2023, with Egypt’s exports at $3.6 billion and imports from Turkey totaling $3.3 billion. By the year-end, he said, the trade volume could reach $8 billion. In September, Egyptian President Abdel Fattah al-Sisi paid a landmark visit to Ankara following a visit by Turkish President Recep Tayyip Erdogan to Cairo in February. During the visit, the two leaders signed 17 new agreements to enhance bilateral cooperation, especially in the fields of trade and investment. They also signed a mutual declaration for the first meeting of the High-level Strategic Cooperation Council between the two countries. Khatib called the mutual declaration a “turning point towards building a new chapter for cooperation between Egypt and Turkey , and exploring new paths for cooperation based on mutual benefits and solidarity.” – New industrial parks Khatib said both Cairo and Ankara agreed to develop two new industrial parks in Egypt. “The first project, located in the New Administrative Capital, will span 2.1 million square meters and is expected to cost $120 million. The second project is located in New October City and will be over 2.6 million square meters,” he added. The minister said that both Egypt and Turkey aim to increase their trade volume to $15 billion within a few years “through improving the infrastructure and business environment for joint venture projects and investments, eliminating any obstacles of trade exchange and investments.” “I am fully convinced and optimistic that the outcomes of this strategic partnership will be witnessed very soon,” the minister said. “The figures for trade volume investment flow and projects are very satisfying and reflect momentum in the mutual relations.” – Key sectors for growth Khatib said both Egypt and Turkey have “very good potential” for growth in the fields of chemicals, petrochemicals, textiles, apparel, automotive, furniture, building materials, pharmaceuticals and medical supplies. “There is significant potential for growth in bilateral trade between Egypt and Türkiye, given their strong industrial and agricultural capabilities,” he added. The minister said trade in services, including telecommunications, tourism and construction, also has “promising” opportunities. “Additionally, expanding the Free Trade Agreement (FTA) to include a wider range of agricultural goods would significantly enhance trade opportunities,” Khatib said. “Turkey is currently Egypt’s largest importer, and increasing access to the Turkish market for Egyptian agricultural products could further improve competitiveness internationally,” he added. “In return, Egypt would benefit from Turkish agricultural products that help meet local demand and stabilize prices.” – Regional challenges On obstacles to advancing trade and investment relations, Khatib pointed to regional instability and disrupted supply chains as significant hurdles. “The ongoing conflicts, instability, and disrupted supply chains in the region pose risks to the global economy, including both our countries,” he noted. Regional tension has escalated due to Israel’s ongoing war on the Gaza Strip, which has killed over 43,400 people, mostly women and children, since last year. The conflict has spread to Lebanon with Israel launching massive airstrikes on the country, killing more than 3,000 people since last year amid cross-border warfare with the Hezbollah group. The conflict has also involved Yemen’s Houthi group, which began to attack commercial ships in the Red Sea in a show of solidarity with Gaza. “Despite these challenges, Egypt has successfully positioned itself as a leading destination for foreign direct investment (FDI),” Khatib said. “In 2023, Egypt was recognized as the top investment destination in Africa for the second consecutive year, capturing 18.6% of Africa’s total FDI, amounting to $52.6 billion. Globally, Egypt ranked 32nd in FDI attraction, with net FDI flows reaching $46.1 billion in 2023/2024.” – Turkish investment in Egypt Khatib said Turkish investments in Egypt reached $3 billion, primarily in the manufacturing and services sectors, employing over 50,000 Egyptians in the textile sector alone. “The Turkish investments in Egypt are growing fast,” he said. “With the increase of Turkish investments in Egypt, which contributed significantly to the Egyptian exports globally, and at the same time, most of the Turkish investors in Egypt import different products from Turkey (raw materials – intermediate commodities). This is reflecting the concept of integration and the mutual benefits.” To support Turkish investors, the Egyptian minister said a specialized unit within the General Authority for Investment and Free Zones (GAFI), Egypt’s government investment arm, will be established, aimed at “providing personalized assistance and resolving any challenges they may encounter.” – Joint ventures in Africa Khatib said there is “wide room for cooperation” between Egypt and Turkey in Africa. “The potential for trade and investment opportunities is huge, especially after the African Continental Free Trade Area (AfCFTA) entered into force and fully implemented,” he said. “Egypt could be an industrial and logistical hub for Turkish products and commodities to access African markets. Construction companies could find a base ground to work together in Africa,” the minister added.

Egypt seeks further support from the IMF to address economic challenges and accelerate its green transition, with a focus on sustainable development and climate resilience.

Rival Palestinian groups Hamas and Fatah met in Cairo to discuss forming a joint committee to manage Gaza following Israel’s ongoing offensive.

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Egypt’s net foreign assets fell by $3.53 billion in August, reaching $9.72 billion, following a peak in May, as the country engages in renewed talks with the IMF for financial support.

Egyptian President al-Sisi and CIA Director Burns discussed mediation efforts for a Gaza cease-fire and urgent humanitarian aid entry, with ongoing negotiations facing challenges.

The two countries are recognizing the potential for mutual benefit and are working together to attract more visitors.

Egypt’s Foreign Minister Badr Abdelatty stated on Saturday that without a ceasefire in Gaza, there “will be no peace or security” in the region. During a news conference with Ukrainian Foreign Minister Andrii Sybiha, Abdelatty condemned Israel’s actions, emphasizing that “in the twenty-first century, we cannot accept a policy of starving over 2.2 million Palestinians in the Gaza Strip.” Sybiha criticized Russia’s invasion of Ukraine, linking it to various global crises. “This war in Ukraine is not just about Ukraine; it’s about restoring a world order based on international law,” he said. He also announced that Ukraine is planning another Global Peace Summit, inviting Russian representatives to participate. Israel’s Netanyahu rejects Egyptian cease-fire initiative in Gaza  Israeli Prime Minister Benjamin Netanyahu rejected an initiative proposed by Egypt on Sunday for a short-term cease-fire with Hamas in the Gaza Strip. Egyptian President Abdel Fattah al-Sisi announced the proposal, according to Israeli media. “We proposed a cease-fire in the Gaza Strip for two days to exchange four (Israeli) hostages for some (Palestinian) prisoners, and then negotiations would take place over 10 days to turn the cease-fire into a permanent truce,” al-Sisi said during a joint press conference with Algerian President Abdelmadjid Tebboune in the capital Cairo. Despite the support of most Israeli ministers for the Egyptian proposal, Tel Aviv decided to reject the deal due to opposition from Netanyahu, who emphasized that “negotiations will take place only under fire,” according to Israel’s Channel 12. The channel confirmed that Israel’s security establishment also supported the proposal. Israel estimates that around 101 of its citizens are still being held captive by the Palestinian group Hamas in Gaza amid concerns that some of them may have already been killed in indiscriminate Israeli airstrikes across the densely populated area. Efforts led by the US, Egypt and Qatar to secure a cease-fire and facilitate a prisoner swap between Israel and Hamas have so far stalled, with Netanyahu refusing to consider ending the conflict. The Israeli army has continued a devastating offensive on the Gaza Strip since a cross-border incursion by Hamas last October, despite a UN Security Council resolution demanding an immediate cease-fire. Nearly 43,000 people have since been killed, mostly women and children, and over 100,000 others injured, according to local health authorities. The Israeli onslaught has displaced almost the entire population of the territory amid an ongoing blockade that has led to severe shortages of food, clean water and medicine. Israel also faces a genocide case at the International Court of Justice for its actions in Gaza.

Egypt proposes a two-day Gaza cease-fire to exchange hostages for prisoners, aiming to establish a lasting truce.

Egypt and the US discussed the urgent need for a cease-fire and humanitarian aid in Gaza and Lebanon, calling for an end to Israeli escalations.