🇪🇬EgyptNorth Africa
Egypt to list 10 state-owned petroleum companies on stock exchange, Prime Minister Madbouly announces
via Egypt Today2 min read
Prime Minister Mostafa Madbouly has directed officials to finalize a timeline for the temporary listing of 10 government-owned petroleum companies on the Egyptian Exchange. This initiative, reviewed during a meeting chaired by Madbouly, aims to enhance company performance, boost competitiveness, and attract further investment. Petroleum Minister Karim Badawi stated that the listing plan seeks to modernize management, convert operational gains into liquidity for expansion, and attract foreign investors by selecting companies with strong financial standing. Listing these companies will provide access to diverse financing sources, including individuals, financial institutions, and investment funds. Badawi also noted that daily trading activity offers a transparent performance indicator, supporting future mergers, acquisitions, and operational efficiency. The move is expected to attract institutional investment, improve Egypt's balance of payments, enhance governance and disclosure, and offer alternative financing channels, thereby increasing confidence in the capital market. Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State Ownership Unit, emphasized that a primary goal is to strengthen the governance of state-owned enterprises. He confirmed that petroleum sector companies will first be temporarily listed before undergoing a fair valuation process, adding that six companies have already been temporarily listed to positive reception from economic and investmen
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This summary was AI-generated from a story originally published by Egypt Today.
Egypt's Ministry of Health announced on Friday that there are no confirmed hantavirus cases in the country, emphasizing continuous epidemiological surveillance in coordination with national and international authorities. The ministry stated that Egypt's health situation remains "stable and fully safe." This statement follows a World Health Organization WHO report of two laboratory-confirmed and five suspected hantavirus cases, including three deaths, on the Dutch-flagged MV Hondiu cruise ship, which had sailed from Argentina and Cape Verde. Hantavirus infection, primarily transmitted through contact with infected rodent excretions, is rare but can be severe and fatal. While human-to-human transmission is limited, it has been observed with the Andes virus. Hantavirus pulmonary syndrome HPS has a mortality rate of up to 38% among patients with respiratory symptoms. The Egyptian ministry is monitoring media reports but reassures citizens that the "current situation does not warrant concern." Egypt's epidemiological surveillance system operates efficiently at all entry points, and the ministry is coordinating with WHO and other international bodies to ensure a rapid response to any developments, prioritizing public health with transparency and professionalism.
BreakingUS President Donald Trump announced a three-day ceasefire between Russia and Ukraine, scheduled from May 9 to May 11, which will also include a significant prisoner exchange. The agreement, revealed by Trump on his Truth Social platform, entails a "suspension of all kinetic activity" and the exchange of 1,000 prisoners from each side. President Trump stated he personally requested the ceasefire and expressed gratitude to Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy for their agreement. He hopes this marks "the beginning of the end of a very long, deadly, and hard fought war," adding that ongoing talks are bringing them closer to resolving what he described as the largest conflict since World War II.
Must ReadFrench Foreign Minister Jean-Noël Barrot welcomed the upcoming opening of L’Université Senghor in Borg El Arab, Alexandria, stating it reflects the partnership between Egypt and France. His remarks were made during a phone call with Egypt's Foreign Minister Badr Abdelatty. French President Emmanuel Macron is expected to visit Egypt on Saturday to inaugurate the university’s new campus. L’Université Senghor is a French-language international university focused on African development. Established in 1990 and named after former Senegalese President Léopold Sédar Senghor, it provides postgraduate master’s programs in environment, administration, culture, and health. The university was previously located in central Alexandria’s Mansheya district before its permanent move to Borg El Arab.
Must ReadEgypt has condemned the recent Iranian attacks on the United Arab Emirates, stating that these actions violate UAE sovereignty and international law. In a statement, the Egyptian Ministry of Foreign Affairs highlighted that the repeated Iranian assaults pose a direct threat to regional security and stability. The UAE Ministry of Defense reported intercepting two ballistic missiles and three drones from Iran, which resulted in three moderate injuries. Since February 28, Iran has launched numerous drone and missile attacks against several Arab nations hosting US military bases, leading to hundreds of casualties. Despite a ceasefire with the US in early April, Iran has continued these attacks on the UAE. The Emirati Ministry of Defense has intercepted a total of 551 ballistic missiles, 29 cruise missiles, and 2,263 drones since the conflict began, with these attacks causing three deaths and 230 injuries among Emirati citizens and expatriates. Egypt emphasized that these assaults undermine efforts to de-escalate tensions and establish stability in the region, reaffirming its solidarity with the UAE and support for its security measures.