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via dailyegyptian10/28/2020

COVID-19 Update: Jackson County reports four new cases - Daily Egyptian

Jackson County Health Department reported four new cases of COVID-19 on Tuesday. The cases included one individual in their teens and three individuals in their 50s. As of Tuesday there have been a total of 1,557 cases of COVID-19 in Jackson County and 26 related deaths. Advertisement $(document).ready(function() { img = $(\'#ad-p3 img\'); if(!img.length) {...

via menafn10/27/2020

Egypt- Sustainable Development Ambassadors initiative to raise youth awareness on SDGs: El-Said - MENAFN.COM

Egypt's Minister of Planning and Economic Development Hala El-Said said that the country's development experience over the last six years has gotten through many political, economic and social changes and challenges.

There have also been growing regional challenges, against which Egypt has set a serious plan to overcome them and achieve comprehensive

via menafn10/27/2020

Egypt's car market once again threatened by second COVID-19 wave - MENAFN.COM

The novel coronavirus (COVID-19) pandemic has already caused great damage to most economic activities and sectors worldwide, with one of the worst hit being the auto sector.

There has been a significant decline in vehicle sales in 2020, as countries absorbed the shock of the coronavirus and made the move to coexist with the virus. Europe is also curr

via menafn10/26/2020

Egypt- Equity financing best option for fintech firms to fund expansion - MENAFN.COM

The scarcity of investments and the economic slowdown caused by the novel coronavirus (COVID-19) pandemic has reduced the options available to financial technology (fintech) companies in terms of funding their expansions. This has, in turn, prompted them to resort to equity financing during the coming period.

Equity financing helps companies raise mo

via menafn10/25/2020

Egypt- Voting goes 'smoothly' on second day of parliamentary elections - MENAFN.COM

Egyptians resumed voting, on Sunday, on the second and last day in the first phase of House of Representatives elections. Polling stations opened their doors at 9:00 for voters to cast their ballots.

According to the National Elections Authority (NEA), the voting process proceeded smoothly on Sunday at the 10,240 sub-committees, adding that no report

via egyptindependent10/25/2020

The Latest: New US virus cases top 83700 for 2nd day in row - Egypt Independent

BALTIMORE — A day after the U.S. set a daily record for new confirmed coronavirus infections, it came very close to doing it again. Data published by Johns Hopkins University shows that 83,718 new cases in the U.S. were reported Saturday, nearly matching the 83,757 infections reported Friday. Before that, the most cases reported in … Continued

via finance.yahoo10/25/2020

Egypt Debt Attracts More Foreigners as Holdings Double Since May - Yahoo Finance

(Bloomberg) -- Foreign investors are returning in force to Egypt’s local debt after the coronavirus sparked a selloff, more than doubling their holdings in five months.Encouraged by Egypt’s recent financing agreements with the International Monetary Fund and others, foreigners increased investments in Treasury bills and bonds to $21.1 billion in mid-October from $10.4 billion in May, according to Mohamed Hegazy, head of the Finance Ministry’s debt management unit.While still below the $27.8 billion held in February, it’s a welcome supply of fresh funding for the North African country. Two of its main sources of foreign currency -- tourism and Suez Canal receipts -- have taken blows from the pandemic.And although Egypt saw its biggest-ever capital outflows between March and May as part of a selloff that hit emerging markets across the globe, the reversal is being fueled by the world’s best carry-trade returns after Argentina.“We saw a huge foreign appetite in local bonds starting from late August despite the global uncertainty,” Hegazy said in an interview.When foreign investors withdrew earlier in 2020, they “experienced a quick and easy exit, unlike in some other markets,” which “enhanced their confidence in our economy,” the official said.Read more: Set Back by Virus, Egypt Revives Debt Plans as Foreigners ReturnStable outlooks from the three main credit-rating companies after the pandemic hit as well as recent Eurobond and green bond issuances are feeding the foreign appetite, according to Hegazy. Foreigners now account for 9.4% of total local-debt holdings, up from 5.2% at the end of June.A shift into longer-maturity debt is also helping one of the Middle East’s most indebted countries ease its borrowing costs. Net issuances of bonds rather than shorter-term bills accounted for 71% of Egypt’s total net local issuances by the end of September, compared with 20% three months earlier.Reflecting that, average maturities of Egypt debt were 3.2 years at the end of June, up from 1.3 years in the same period of 2013, according to Hegazy.“Foreign appetite in local bonds has recently helped the country reverse what was an inverted yield curve in the last two years,” he said.The shift could give a boost to Egypt’s initiative to have its bonds listed in a JPMorgan Chase & Co.’s emerging-market indexes that are a benchmark for investors. Combined with a drive to make the country’s debt Euroclearable, that could spur further interest.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

via menafn10/27/2020

Egypt successfully handles COVID-19 repercussions thanks to economic reforms: Maait - MENAFN.COM

Egypt would have been unable to handle the novel coronavirus (COVID-19) pandemic, had it not implemented its recent comprehensive economic reform programme, according to Minister of Finance Mohamed Maait.

The minister's remarks came during his participation in two video conference meetings, one with representatives of the International Monetary Fund'

via menafn10/27/2020

Egypt- COVID-19 taught MENA region importance of economic, structural transformation's social pillar: IMF - MENAFN.COM

The novel coronavirus (COVID-19) crisis has taught the Middle East and North Africa (MENA) region that any economic framework and structural transformation has to have an important social pillar, according to Jihad Azour, Director of the Middle East and Central Asia Department (MCD) at the International Monetary Fund (IMF).

This has to take into acco

via menafn10/26/2020

COVID-19 healthcare response to remain Egypt's priority for 18-24 months: Official - MENAFN.COM

Egypt's healthcare response to the novel coronavirus (COVID-19) will remain a priority for at least further 18-24 months, according to Mohamed Awad Tag El-Din, Presidential Adviser for Health and Prevention Affairs.

This comes as countries expand their testing and treatment capacities to find better methods of combating any further spread of the viru

via egyptindependent10/26/2020

Democrats ask Pence to skip Barrett vote over COVID-19 risk - Egypt Independent

WASHINGTON (AP) — A deeply torn Senate is set to confirm Amy Coney Barrett to the Supreme Court, but Democratic leaders are asking Vice President Mike Pence to stay away from presiding over Monday’s session due to potential health risks after his aides tested positive for COVID-19.

via menafn10/25/2020

Egypt's Health Minister, Italy's PM discuss cooperation over COVID-19 fight - MENAFN.COM

Egypt's Minister of Health Hala Zayed has expressed keenness for continued cooperation with Italy in various fields, particularly regarding the fight against the novel coronavirus (COVID-19) pandemic.

Zayed's remarks came during her meeting, on Sunday, with Italy's Prime Minister Giuseppe Conte and Minister of Foreign Affairs Luigi Di Maio, as part o

via arabnews10/25/2020

At least 14 civilians killed by booby traps in Egypt's Sinai - Arab News

EL-ARISH: More than a dozen civilians, including women and children, were killed in Egypt’s restive northern Sinai Peninsula over the past two weeks from explosive devices laid down in their homes by militants, security and medical officials said Sunday. Daesh militants in July attacked several villages in the town of Bir Al-Abd, forcing people to flee their homes. The

via egyptindependent10/25/2020

Surging coronavirus colors White House race in closing days - Egypt Independent

WAUKESHA, Wis. (AP) — President Donald Trump assured supporters packed shoulder to shoulder at weekend rallies that “we’re rounding the turn” on the coronavirus and mocked challenger Joe Biden for raising alarms about the pandemic, despite surging cases around the country and more positive infections at the White House. Trump’s remarks came Saturday, hours before … Continued

via guardian.ng10/27/2020

Coronavirus – Egypt: “Our Story; Youth, Migration and Covid-19” Campaign - Guardian

IOM Egypt is launching its campaign “Our Story; Youth, Migration and Covid-19) online. COVID-19 pandemic has resulted in severe economic and social impacts around the world. Migrant youths are amongst the vulnerable groups affected by the disruption caused by the pandemic. Under these circumstances, it is important that youths, including migrant youths, are heard alongside […]

via egyptindependent10/27/2020

Coronavirus deaths are rising again in the US, as feared - Egypt Independent

BOISE, Idaho (AP) — Deaths per day from the coronavirus in the US are on the rise again, just as health experts had feared, and cases are climbing in practically every state, despite assurances from President Donald Trump over the weekend that “we’re rounding the turn, we’re doing great.”

via menafn10/26/2020

Egypt- Global tourism may take 4 years to return to 2019 levels: McKinsey & Company - MENAFN.COM

Global tourism's recovery may take until as late as 2024 to return to its 2019 levels, according to the latest report by management consulting firm, McKinsey  & Company.

The report said that global tourism has been one of the most affected sectors during the novel coronavirus (COVID-19) crisis.

McKinsey  & Company's tourism recovery model f

via egyptindependent10/26/2020

Fear and anxiety spike in virus hot spots across US - Egypt Independent

Preslie Paur breaks down in tears when she thinks of her state’s refusal to mandate face masks. The South Salt Lake City, Utah, woman can’t work at her special education job due to an autoimmune disease. Her husband, also a special ed teacher, recently quit because his school district would not allow him to work … Continued

via arabnews10/25/2020

Road accident deaths fall by 44% in Egypt - Arab News

CAIRO: Egyptian Minister of Planning and Economic Development Hala El-Said said that the state’s increased spending on roads and bridges since 2018 has contributed to a 44 percent decrease in the number of deaths due to road accidents in 2020. El-Said said that Egypt had been able to achieve a great leap in the field of infrastructure, especially in transport sector services.

via egyptindependent10/25/2020

Virus is pummeling Europe's eateries — and winter is coming - Egypt Independent

HEIKRUIS, Belgium (AP) — As the Friday night dinner service began earlier this month at the De Viering restaurant outside Brussels, it seemed the owners’ decision to move the operation into the spacious village church to comply with coronavirus rules was paying off. The reservation book was full and the kitchen was bustling. And then … Continued