US President Trump extends Iran ceasefire, Strait of Hormuz blockade to continue
via Egypt Today1 min read
US President Donald Trump announced on Tuesday an extension of the ceasefire with Iran, following a formal request from Pakistani Army Chief Field Marshal Asim Munir and Prime Minister Shehbaz Sharif. Pakistani leaders asked for a suspension of US military action against Iran to allow Iranian leadership and representatives time to present a unified proposal. President Trump stated that the blockade of the Strait of Hormuz will remain in effect, with US forces continuing on high alert. On Monday, Iranian Foreign Ministry spokesman Esmail Baghaei said that while Tehran submitted a 10-point proposal to Pakistan, there are indications the United States lacks seriousness for diplomacy. Baghaei attributed instability in the Strait of Hormuz to American and Israeli aggression, stating the strait was secure before recent attacks. He called on the international community to hold the US and Israel accountable for endangering maritime security. Baghaei emphasized Iran's readiness to respond forcefully to further aggression and confirmed no plans for a second round of negotiations with the United States, describing American proposals as "unserious" and demands as "unrealistic," accusing Washington of violating ceasefire terms.
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Finnish President Alexander Stubb attended the Egyptian-Finnish Business Forum in Cairo, where he highlighted Egypt's importance as a partner for Finland. The forum, held at the General Authority for Investment and Free Zones GAFI, was also attended by Egyptian Prime Minister Mostafa Madbouly and other officials. President Stubb noted the current global turbulence, underscoring the need for stronger international ties. He praised Egypt's role in regional stability and its achievements in infrastructure development and reducing traffic congestion since his 2009 visit. Stubb also recognized Egypt's youthful population as a strength and its strategic geographical location. Both nations agreed to enhance cooperation in education, leveraging Finland's expertise in communications and modern technology, and to bolster collaboration in the health and telecommunications sectors, aiming to increase bilateral trade.
Must ReadThe Council of the League of Arab States adopted Resolution No. 9245 during an extraordinary ministerial-level meeting held via videoconference on Tuesday, April 21, 2026. The resolution strongly condemned recent Iranian attacks using ballistic missiles and drones, calling them a flagrant violation of Arab states' sovereignty and a clear breach of international law and the UN Charter. The Council affirmed full solidarity with affected countries, including the UAE, Saudi Arabia, Bahrain, Jordan, and Iraq, stating that an attack on one Arab state is an attack on all. The resolution called on Iran to comply with UN Security Council resolutions, particularly Resolution 2817, and to cease actions threatening regional peace. It also affirmed Iran's responsibility for damages and losses, emphasizing the need for reparations under international law, and highlighted the targeting of civilian facilities and vital infrastructure as serious violations of international humanitarian law.
The Egyptian Exchange EGX concluded Tuesday's trading session with an increase, as its total market capitalization grew by approximately LE 25 billion, reaching LE 3.577 trillion. This positive movement was primarily fueled by buying activity from institutions. The total trading value for the day amounted to about LE 275.2 billion, which included transactions for bonds, treasury bills, and ownership transfers, with equity trading specifically accounting for LE 10.5 billion. The market's upward trend was supported by net purchases from Egyptian and foreign institutions and investment funds. Conversely, Arab institutions and retail investors, along with Egyptian and Arab individuals, showed a tendency towards selling. Individually, the EGX30 index saw a rise of 0.32 percent, closing at 51,977.34 points. The EGX70 index increased by 1.02 percent to 13,639.8 points, and the broader EGX100 index advanced by 1.05 percent, finishing at 19,058.47 points.
Egypt is preparing to implement its participatory budgeting model across all governorates, following successful pilot programs in Beni Suef, Fayoum, and Alexandria. Finance Minister Ahmed Kouchouk stated that this initiative aims to present state budget execution from the perspective of service beneficiaries, emphasizing that the national budget focuses on services and development programs that directly impact citizens. He added that citizen involvement improves spending efficiency, defines local priorities in health, education, and economic empowerment, and enhances transparency and public awareness of fiscal policy. Minister of Planning and Economic Development Ahmed Rostom described this as a step towards modernizing public finance management and performance-based budgeting, enabling citizens to identify development gaps and propose solutions. Officials noted that youth contributions in Beni Suef have already led to practical interventions in health, education, social protection, and local development. UNICEF representative Natalie Meyer highlighted that collaboration between institutions and communities can lead to more effective public spending, underscoring the importance of investing in children for Egypt's future. The government plans to expand the model to additional governorates in the next phase.