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Daily News Egypt
11 hours ago
- Politics
- Daily News Egypt
Egypt launches initiative to renovate 80,000 homes in rural villages
Egypt has launched a corporate social responsibility initiative to renovate and upgrade 80,661 homes for vulnerable families in villages targeted by the first phase of the presidential 'Decent Life' initiative. The 'Decent Housing for a Decent Life' programme was launched at an event attended by senior officials, including Deputy Prime Minister Khaled Abdel Ghaffar. The initiative aims to unite the efforts of the government, private sector companies, banks, and civil society organisations to improve housing conditions in 1,477 villages across 20 governorates. The project will be implemented in collaboration with the Misr El Kheir Foundation, the Orman Association, and the Hayah Karima Foundation. Manal Awad, the minister of local development, said the government seeks to build a broad partnership to finance the project. 'The government is seeking to build a broad partnership with banks and companies within the framework of their social responsibilities, and with civil society organisations, to upgrade and develop the homes of 80,661 families,' she said. The initiative has already raised EGP 377m in donations from the government, civil society, and the private sector, announced Maya Morsy, the minister of social solidarity, during a fundraising drive at the launch event. Awad described the parent 'Decent Life' initiative, launched by President Abdel Fattah al-Sisi in 2019, as 'an unprecedented qualitative shift in the history of the Egyptian countryside.' She stated that the first phase of the 'Decent Life' initiative is 90% complete, with 27,334 projects implemented at a cost of EGP 360 billion, serving 18 million citizens. The projects include developing infrastructure such as water, sanitation, electricity, and roads, as well as improving social services like schools and hospitals. The new 'Decent Housing' initiative aims to ensure that families in dilapidated homes can fully benefit from the state's large-scale infrastructure investments. A detailed survey was conducted by the ministries of local development and social solidarity, in partnership with the civil society organisations, to identify the families in need. A steering committee chaired by Mohamed Farid Hegazy, a presidential advisor for the 'Decent Life' initiative, will oversee the programme's implementation. Awad outlined a framework for governance and quality assurance, which includes a joint financial account for the three implementing foundations, oversight from the Ministry of Social Solidarity, and quality control checks by engineering committees. This will ensure transparency and efficiency in the use of funds. The minister detailed a clear division of roles: The private sector and banks: Provide funding through their corporate social responsibility budgets. Provide funding through their corporate social responsibility budgets. Civil society organisations: Design and execute the renovation, rehabilitation, and furnishing of homes, using local contractors and labour to create jobs. Design and execute the renovation, rehabilitation, and furnishing of homes, using local contractors and labour to create jobs. Government ministries and governorates:Facilitate permits, licenses, and utility connections to streamline the process for the implementing organisations.
Shafaq News
10-06-2025
- Business
- Shafaq News
Syria's Labor Ministry: Committed to stabilizing the job market
Shafaq News/ Syria's Ministry of Labor and Social Affairs reaffirmed on Tuesday its commitment to supporting Syrian workers both at home and abroad, with a focus on achieving balance in the country's labor market. Speaking to Shafaq News Agency, Khalil Awad, Director of Labor Regulation at the Ministry, stated that efforts are ongoing to ensure equality between Syrian and non-Syrian workers under Labor Law No. 17 of 2010. 'Articles 2 and 4 of the law stipulate equal rights and obligations for all workers, while also safeguarding local labor from unfair competition,' Awad explained. He added that despite this principle of equality, the law imposes specific requirements on foreign workers. 'Articles 27 to 30 of the same legislation mandate that non-Syrian workers obtain work permits, and Ministerial Decree No. 888 of 2016 outlines the procedures for granting such permits,' he said. According to Awad, these measures are intended to maintain proper regulation and order in the labor market. Regarding Syrians employed abroad, Awad described them as 'an invaluable national asset,' emphasizing their positive contributions to the economies of their host countries. 'We are currently working to create an attractive work environment inside Syria to encourage their return and involvement in the reconstruction process,' he added, revealing that the Ministry is collaborating with the Ministry of Foreign Affairs and Expatriates to compile accurate statistics on Syrians working overseas. Domestically, the Ministry is expanding initiatives to train and employ youth. Awad highlighted the Ministry's oversight of several NGOs that offer specialized vocational training programs in partnership with the Ministries of Industry, Education, and Housing. 'We are in the process of integrating national digital platforms related to vocational training, under labor regulations, to improve accessibility to resources and training opportunities,' Awad said. He concluded that the overarching goal is to ensure effective coordination among relevant institutions and build a comprehensive training environment aligned with market needs.
The Star
07-06-2025
- Politics
- The Star
Still starving in Gaza
FOR Abdelhalim Awad, who runs a bakery in the central Gaza Strip, the hope of food arriving for hungry Palestinians was like the endless reports of an approaching ceasefire: constantly rumoured to be just around the corner yet always out of reach. Weeks after Israel announced that it would ease its blockade of humanitarian aid to Gaza, little of the desperately needed food, fuel, and medicine has reached hungry Palestinians. Dozens of trucks ferrying supplies have crossed into Gaza at the Israeli-controlled border crossing of Kerem Shalom, according to Israel. But they were only be a dent in the daily hunger that has become widespread in Gaza under the Israeli blockade. 'Even if we get some flour today, it seems we won't have anything close to what's needed to feed people,' Awad said. In the meantime, Palestinians reeling from Israel's almost three-month ban on food, fuel, and other supplies have been left waiting. 'Today we will mostly eat lentils or pasta,' Riyadh al-Housari, a 25-year-old in Gaza City, said in a phone interview. 'We eat one meal in the late afternoon. It is one meal, and there is no other.' Israel's blockade has rendered the situation so dire that Palestinians in Gaza are at 'critical risk of famine', a panel of United Nations-backed experts said in May. They projected that tens of thousands of children could suffer from acute malnutrition if the restrictions continue. Israel argued the report was based on faulty data and assumptions. The worsening humanitarian crisis in Gaza has ignited growing international opprobrium against the Israeli campaign against Hamas. Even Israel's allies – which offered vigorous support after the Hamas-led Oct 7, 2023, attacks started the war – have voiced frustration and even anger over the conflict and its cost to ordinary Palestinians. Last month, Britain, France, and Canada denounced the Israeli blockade and planned ground offensive in unusually stark and harsh terms, labelling them 'disproportionate' and 'egregious'. The British government said it was suspending negotiations on expanding the countries' free-trade agreement in protest. The newly anointed pope, Leo XIV, has also joined the chorus calling for aid to be allowed into the Gaza Strip. He described the situation as 'increasingly worrying and painful' and urged 'the entry of dignified humanitarian aid and to put an end to the hostilities'. Israeli Prime Minister Benjamin Netanyahu rejected the international criticism and reiterated his threat of a huge escalation of the war in Gaza. He described the coming ground offensive as the final and decisive blow against Hamas, adding that by the end of it, 'all of Gaza's territory will be under Israeli security control'. The Israeli ban on humanitarian aid began in early March, as the initial phase of a two-month ceasefire between Israel and Hamas ended. Both sides were supposed to be negotiating the next steps in the truce. Israeli officials argued the restrictions aimed to pressure Hamas to compromise. The impact on ordinary people in Gaza is immense: Aid organisations suspended their operations as food stockpiles dwindled, and the price of food skyrocketed. In late March, Israel ended the truce with a massive bombardment and resumed its offensive against Hamas in Gaza. By May, relief officials were warning that widespread hunger had become a daily reality. But for weeks, Israel refused to allow aid agencies to resume operations unless they agreed to new Israeli conditions, purportedly to prevent supplies from falling into Hamas' hands. Israeli leaders publicly insisted that Gaza still had plentiful stockpiles of food. But behind closed doors, some military officials privately concluded that Palesti-nians there could face starvation within weeks. Even the United States – one of Israel's most stalwart supporters throughout the conflict – began suggesting that the humanitarian crisis was spiralling out of control. Even US President Donald Trump said that 'a lot of people are starving' in the Gaza Strip and that the United States was working to alleviate the situation. After those comments by Trump, Israeli authorities relented, announcing that they would begin allowing in small amounts of food. On June 4, however, US vetoed a United Nations security council resolution calling for an 'immediate, unconditional and permanent ceasefire' in Gaza while the 14 remaining countries on the council voted in favour. Meanwhile, the US backed Israeli Gaza Humanitarian Foundation has paused food distribution after soldiers opened fire on Palestinians trying to get some of the aid. With new aid slow to arrive, many in Gaza are trying to make whatever provisions they have last as long as possible. 'We don't plan meals anymore,' said Sabah Abu al-Roos, 63, in the central city of Deir al-Balah. 'We just work with whatever we can find.' Produce like eggplants and tomatoes is often hawked at eye-watering prices, according to several Palestinians. Iman Jundiyeh, a mother of four in Gaza City, said she could only dream of the regular meals she used to enjoy before the war: fragrant sliced lamb; chicken, potatoes and rice; and maftoul, a kind of Palestinian couscous. She now relies almost exclusively on soup kitchens run by charities that still manage to stew pots of lentils and other staples for crowds of displaced Palestinians. Everything else is either unavailable or too expensive, she said. 'Just yesterday, my son begged me for watermelon,' Jundiyeh said. 'I started to cry with him.' – 2025 The New York Times Company This article was first published on The New York Times.
Time of India
06-06-2025
- Business
- Time of India
Microsoft sets another record as stock all-time high and why Wall Street sees no bubble in these BIG numbers
Microsoft Corp. shares surged to a record high on Thursday, surpassing a peak from nearly a year ago, as investors increasingly view the tech giant as a prime beneficiary of the artificial intelligence boom, according to Bloomberg. The stock climbed 0.8% to close at $467.68, topping its previous high set in July. This milestone caps a robust recovery, with Microsoft's shares rallying over 30% from an April low, boosting its market capitalization by more than $800 billion. At approximately $3.48 trillion, Microsoft now holds the title of the world's largest company, just edging out Nvidia Corp., another AI powerhouse, valued at $3.42 trillion, says the report. Microsoft's stock has gained 11% in 2025, outpacing the Nasdaq 100 Index, per Bloomberg data. The company's latest earnings underscored its strong position in AI, alleviating concerns about the returns on its substantial investments in the technology. Robust demand for Microsoft's cloud computing and AI services, coupled with solid growth trends, has positioned the company as a stable force amid economic uncertainties and potential tariff challenges, according to Bloomberg. 'Microsoft is well positioned across its product lines, with a real ability to monetize AI,' Jim Awad, senior managing director at Clearstead Advisors, told Bloomberg. 'I think when we look back in three or four years, it will be one of the companies that prospered and benefited from AI the most.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Eat 1 Teaspoon Every Night, See What Happens A Week Later [Video] getfittoday Undo Despite being the last of the Magnificent Seven stocks to hit a new all-time high, Microsoft remains a favorite among investors. Bloomberg notes that Bank of America data shows Microsoft as the most-owned stock by long-only funds, with 91% holding positions. Additionally, over 90% of analysts tracked by Bloomberg recommend buying the stock, with no sell ratings. While such overwhelming optimism could signal caution, Wall Street remains bullish. The average analyst price target suggests nearly double-digit upside potential over the next 12 months, Bloomberg reports. 'Microsoft should continue growing at an impressive rate and the stock in no way looks excessively priced,' Awad told Bloomberg. 'It can be uncomfortable when everyone is on the same side of a consensus, but in this case, I think the consensus is right.'
Ammon
03-06-2025
- Business
- Ammon
Ma'amoul prices see stability in markets, offers surge as Eid approaches
Ammon News - Omar Awad, president of the Jordan Association for Restaurants and Sweet Shops Owners, said that ma'amoul prices remained stable, as they were during the last Eid al-Fitr. In remarks to "Ammon News," Awad noted that demand for ma'amoul has not yet begun, as Jordanians begin shopping for sweets two days before the Eid holiday in preparation for welcoming guests. He explained that the offers and discounts on ma'amoul offered by shops increase as the Eid holiday approaches.
