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馃嚜馃嚞Egypt Today路10 hours ago
Egyptian banks increase healthcare contributions to over 50% of CSR spending
The Central Bank of Egypt has urged banks to enhance their support for national healthcare initiatives, aligning with the country's Sustainable Development Strategy 2030. In the first quarter of 2026, healthcare received over 50% of Egyptian banks' corporate social responsibility spending, an increase from 42% in 2025. Bank-funded projects include collaborations with the Ministry of Health and Population, upgrades to university hospitals, and the establishment of specialized medical facilities for various conditions like heart disease, cancer, Alzheimer's, and severe burns. Supported initiatives include the presidential program "Our Diabetes Heroes" for children with Type 1 diabetes, providing glucose monitoring devices to low-income families. Banks are funding the first phase of this program until the end of 2026, with a second phase planned to expand device provision. The banking sector also backs a presidential program to reduce critical surgery waiting lists, focusing on procedures such as heart surgery, joint replacements, and corneal transplants. An agreement between the Central Bank and the Medical Emergency Fund will extend this program's reach over three years from 2026. Further support has been directed towards intensive care units in public hospitals, equipping Al-Mabra Hospital, and developing the Fayoum Oncology Centre. University medical facilities, including the National Cancer Institute at Cairo University and Ain Shams University Medical City, have also recei
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馃嚜馃嚞Egypt Today路10 hours ago
North Safa field enters second development phase with $170 million investment
The Gulf of Suez Petroleum Company GUPCO has initiated the second development phase of the North Safa field in the Gulf of Suez. This phase is backed by investments from UAE-based Dragon Oil and the Egyptian General Petroleum Corporation. The field currently produces approximately 15,000 barrels of oil per day from five wells. GUPCO plans to add another well soon, projected to boost production by about 2,500 barrels per day. The total investment for both development phases of the North Safa field is around $170 million, aligning with Egypt's goal to increase domestic crude oil production. This second phase also involved establishing a permanent electricity connection between the field and the Ramadan-6 complex via a 10-kilometer subsea cable, linking the field's facilities to the national power grid. This new connection is expected to reduce operating costs by approximately $3,700 per day and eliminate diesel use, contributing to lower costs, improved environmental performance, and increased returns on petroleum-sector investments.
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Must Read馃嚜馃嚞Egypt Today路13 hours ago
Egypt urges renewed focus on Palestinian cause in talks with EU on regional developments
Foreign Minister Badr Abdelatty called for renewed international focus on the Palestinian cause during discussions with European Commissioner for the Mediterranean Dubravka 艩uica. Abdelatty emphasized the importance of redirecting international efforts to fully implement the first phase of the US president's peace plan and advance to the second phase. The minister also briefed the European official on Egypt's positions regarding developments in Lebanon, Libya, and Sudan, reaffirming Cairo's commitment to resolving regional conflicts. Consultations covered the latest developments in the US-Iran negotiating track, with Abdelatty outlining Egypt's assessment of the regional situation and its efforts to resolve conflicts. He stressed building on the momentum from the US-Iran memorandum of understanding to reinforce de-escalation, strengthen regional security, and safeguard freedom of navigation. Abdelatty welcomed progress in Egypt-EU ties, highlighting the momentum from last year's Egypt-EU Summit and the 11th EU-Egypt Association Council meeting. He stressed strengthening economic, trade, and investment cooperation, describing it as a cornerstone of the strategic partnership, and appreciated the EU's support for Egypt's economic reform and financial stability, as well as cooperation in education, scientific research, and skills development. Abdelatty called for deeper cooperation on migration and mobility through a long-term strategic approach and welcomed the launch of the Pac