Uzbek Gov't Delegation Tours Agricultural Projects, Research Centers in Egypt
Taarek Refaat
An Uzbek government delegation headed by the Director of the Cabinet Secretariat for Investment, Export, Trade, Agriculture and Water Resources visited several agricultural projects and research centers during a four-day visit to Egypt.
The Uzbek delegation began its field trip with a visit to the Agricultural Research Center, where they were briefed on the center's research activities and its efforts to achieve food security and improve crop productivity. They also visited the Excellence and Innovation Exhibition.
The Uzbek delegation also visited the Desert Research Center, where they learned about the center's efforts to address the challenges of desertification and climate change.
The Uzbek group expressed their great admiration for Egypt's experience in establishing integrated agricultural communities aimed at achieving social stability and sustainable development, commending the role of the Desert Research Center in providing pioneering models and practical solutions to environmental and agricultural challenges in desert regions.
They also inspected the "Future of Egypt" sustainable agriculture project, the first project aimed at achieving self-sufficiency and exporting surpluses. The targeted area for reclamation is 1.5 million feddans, out of the total area of the New Delta project, which amounts to 2.2 million feddans.
They affirmed Uzbekistan's keenness to exchange successful experiences with Egypt in land reclamation, natural resource management, and modern agriculture, especially in light of the environmental and climate challenges facing both countries.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Arts & Culture
Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
News
Flights suspended at Port Sudan Airport after Drone Attacks
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Economic Factors Weigh on Global Gold Prices as Markets Await Fed Policy Shift
Waleed Farouk Gold prices in Egypt saw a slight increase on Saturday, coinciding with the weekly closure of global markets, following a notable decline of 1.8% in the international ounce price by the end of trading on Friday. This came despite renewed tensions and intensified military confrontations in the Middle East. Locally, gold prices rose by EGP 15 compared to Friday's closing, with 21-karat gold reaching EGP 4800 per gram. Meanwhile, the global ounce price fell by $61 over the week to settle at $3369. The 24-karat gold recorded EGP 5489 per gram, 18-karat stood at EGP 4114, The gold pound (8 grams of 21K) was priced at EGP 38400. This marks the first weekly decline in gold prices in nearly three weeks. Interestingly, the metal failed to capitalize on the geopolitical escalation in the region, instead recording a noticeable drop in international markets. Several economic and investment-related factors have curbed gold's upward momentum, limiting the impact of political events. Chief among these are the strong U.S. dollar and weak demand from China, both at the level of the central bank and retail consumers. According to official data, the People's Bank of China purchased only 1.9 metric tons of gold in May 2025, compared to 2.3 tons in both March and April, and a peak of 10 tons in December 2024. Although gold still constitutes approximately 7% of China's official reserves, this ratio has not seen significant growth—raising questions about Beijing's future monetary stance toward the yellow metal. Gold also faced selling pressure in Asian markets, particularly in India, where investors engaged in profit-taking after a rapid price rally. This increased supply and contributed to price declines. Despite a moderate slowdown in U.S. inflation indicators, the Federal Reserve has remained committed to keeping interest rates unchanged. This policy stance enhances the appeal of fixed-income instruments like bonds, while diminishing gold's allure—since gold offers no yield and becomes more attractive only when interest rates are low. In a surprising shift, Federal Reserve Governor Christopher Waller stated that a rate cut could begin as early as the July 2025 meeting, if the current moderate trajectory of economic data continues. Waller, known for his traditionally hawkish views, appeared more flexible this time, acknowledging room for interest rate cuts, while maintaining readiness to reverse course if economic shocks occur. This nuanced tone signals a possible pivot in Fed policy. He also downplayed the inflationary impact of tariffs, noting that a proposed 10% tariff on all imports would not have a significant effect on overall prices—reducing the likelihood that such tariffs will be used to justify further monetary tightening. If realized, a U.S. rate cut may open the door for renewed investment flows into Egypt, contingent on relative currency stability and a decline in Egypt's sovereign credit default swap (CDS) rates. Waller's remarks represent the first serious signal toward the end of the current tightening cycle, though any rate reduction remains highly dependent on future economic data. Looking ahead, markets await a raft of key U.S. economic indicators, including: S&P Global flash PMI on Monday, U.S. consumer confidence report and Fed Chair Jerome Powell's testimony before the House Financial Services Committee on Tuesday, New home sales data and Powell's testimony before the Senate Banking Committee on Wednesday, Weekly jobless claims, durable goods orders, final Q1 GDP, and pending home sales on Thursday, Core PCE inflation data on Friday. These figures are likely to shape both Fed policy and investor sentiment in the coming weeks. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Silver Continues Its Rise Locally and Globally… 800 Silver Reaches EGP 51.25
Waleed Farouk Silver prices recorded a notable increase in local markets during Saturday's trading, boosted by global gains in the white metal, which hit its weekly peak at $36.78 per ounce, according to Safe Haven Hub. Locally, 800 silver climbed to EGP 51.25 per gram, while 999 silver reached EGP 64, and 925 silver stood at EGP 59.25 per gram. Meanwhile, the silver pound (925) was priced at EGP 474. Despite escalating geopolitical tensions in the Middle East, silver closed the week with a slight decline to $35.93 per ounce, as some investors took profits after a strong rally that pushed prices above the $36 mark. Globally, around 80% of silver demand comes from key industrial sectors such as solar energy, automotive, and electronics. With sustained strong demand, and despite potential cooling due to higher prices, silver maintained its upward momentum. Over the past month, silver has gained nearly 9%, or about $3, while the past three months saw a 13.56% increase, equivalent to $4.30. Since the beginning of 2025, silver prices have jumped by approximately 25%. On a longer-term basis, silver has more than doubled in value—by 102%—since January 2020, when it traded at $17.92 per ounce. Its historical peak was $48 in 2011, while the lowest level recorded since 1990 was $3.55 in 1991. In another development, Citi Bank analysts maintained their bullish outlook on silver, projecting the price could reach $40 within the next 6 to 12 months, and potentially $46 by Q3 2025, supported by tight supply and sustained industrial demand. At the same time, gold prices stood at $3,369 per ounce, placing the gold-to-silver ratio at 93.79:1—meaning one ounce of gold is currently equivalent to roughly 94 ounces of silver. This historically high ratio suggests that silver may still be undervalued relative to gold, which could support further upside. Despite ongoing speculation about U.S. monetary policy, silver continues to benefit from an environment of economic uncertainty and regional geopolitical tensions. As a result, investors remain cautiously optimistic, carefully weighing geopolitical catalysts against monetary pressures in global markets. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
See - Sada Elbalad
3 hours ago
- See - Sada Elbalad
Egypt Allocates EGP 7.3B for 180 Projects in Damietta
H-Tayea Minister of Planning Rania Al-Mashat announced that Damietta governorate will receive EGP 7.3 billion in public investments for 180 development projects under Egypt's 2024/2025 national plan, excluding projects under the 'Haya Karima' rural development initiative. The announcement came during the launch of the 'Citizen Investment Plan' report for Damietta, which outlines project allocations across sectors and reflects the government's commitment to local development and transparency. The report also covers Egypt's broader development strategy and performance indicators at the governorate level. Al-Mashat said 28 villages in Damietta are included in the first phase of 'Haya Karima,' benefiting 243,000 residents. The plan allocates EGP 3.1 billion to the transport sector, followed by EGP 828.6 million for housing, EGP 674.5 million for local development, EGP 535 million for healthcare, and EGP 431 million for pre-university education. Other sectors will receive EGP 1.66 billion. Projects include infrastructure work at Damietta Port, upgrades to sewage and water systems in Damietta New City, and the expansion of local health and education services. Health investments include building Faraskour Central Hospital, expanding Damietta Oncology Hospital, and developing the Damietta Cardiac Hospital. The education sector will see the construction and renovation of 414 classrooms. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
