Egypt’s gold prices jump nearly 5% in single week on global rally, FX volatility
Gold prices in Egypt posted a sharp increase over the past week, supported by rising global prices and continued fluctuations in the exchange rate of the U.S. dollar against the Egyptian pound. The price of 21-karat gold, the most actively
Trump proposes $1.5trn military budget for 2027 with massive agency cuts
US President Donald Trump’s administration on Friday proposed a $1.5trn military budget for the 2027 fiscal year, a 44% increase over 2026 levels, alongside sweeping cuts to government agencies and a drive to eliminate “woke” policies. The budget proposal serves
Iran’s Revolutionary Guard imposes yuan-based tolls for Strait of Hormuz transit: Bloomberg
Iran’s Revolutionary Guard (IRGC) has begun imposing a formal toll system on vessels transiting the Strait of Hormuz, charging fees in Chinese yuan and requiring ships to fly the flags of “friendly” nations to avoid attack, Bloomberg reported, citing shipping
Iran rehabilitates missile sites within hours of strikes, US intelligence says
US intelligence reports indicate that Iran is rehabilitating missile bunkers and silos within hours of being targeted by American and Israeli strikes, according to the New York Times, casting doubt on military assessments regarding the destruction of Tehran’s missile capabilities.
Western airlines seize market share as Iran war disrupts Middle East aviation hubs
Western airlines are redeploying aircraft to Asia and North America to capture market share from Middle Eastern competitors as the war in Iran disrupts regional flight paths and grounds regional fleets. While the loss of capacity at Middle Eastern hubs
Japan, France agree to coordinate on reopening Strait of Hormuz as Trump says US will have ‘no role’
Japan and France agreed on Wednesday to coordinate closely on efforts to end the war in Iran and reopen the Strait of Hormuz to oil and gas tankers, as US President Donald Trump said Washington would play no role in
Russia says it has full control of Ukraine’s Luhansk region
The Russian Defence Ministry said on Wednesday its forces have seized full control of the Luhansk region in eastern Ukraine, as Kyiv continues a campaign of drone strikes against Russian energy infrastructure. Russia has long held more than 99% of
Egypt appoints Ambassador Alaa Youssef as head of State Information Service, reconstitutes board
Egyptian President Abdel Fattah al-Sisi has issued a decree reconstituting the board of directors of the State Information Service (SIS), appointing Ambassador Alaa Youssef as the body’s new chairperson, according to the official document released on Thursday. Decree No. 161
Al-Sisi underscores commitment to economic reforms, market stability
Egyptian President Abdel Fattah Al-Sisi affirmed on Wednesday that the government will press ahead with fiscal reforms aimed at safeguarding economic stability and accelerating private sector growth, amid the continued impact of regional conflict on markets and global supply chains.
Trump says Iran war could end within weeks as regional escalation intensifies
U.S. President Donald Trump said the United States could bring the war with Iran to an end within two to three weeks, in remarks that underscored ongoing uncertainty in Washington over how the conflict, now in its fifth week, might