Newsletter: FutureVerse LEAP’s comeback The fifth edition of the gathering offers a temperature check for the Gulf’s AI ambitions amid fallout from the US-Israel-Iran war. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Xi makes first Egypt visit in decade as Cairo gets caught in US-China AI row China's Huawei last month submitted a bid to build advanced AI data centers and supply more than 2,000 AI chips for Egyptian government systems. Egypt
Analysis How Ethiopia’s new dams test Egypt’s ability to defend its Nile red lines Ethiopia’s water minister has emphasized the country’s plans to move forward with new Blue Nile dam construction, leaving Egypt to contend with the potential fallout. By Eli Siegel-Bernstein
Newsletter: Business & Tech Iran keeps Hormuz reopening on hold Traffic in the Strait of Hormuz remained low, with only five commodity vessels transiting the waterway on Tuesday, according to data from maritime tracking firm Kpler. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Culture Egypt restores Golden Shrine at ancient temple in Luxor The Egyptian Ministry of Tourism and Antiquities announced the completion of restoration works at the Golden Shrine in the Temple of Habu in Luxor, built in memory of King Ramses III. Egypt
Tracker: ships carry grain from Ukraine to Middle East Ships have left Ukraine for Turkey, Iran and elsewhere since the agreement between Ukraine and Russia on safe passage through the Black Sea. Turkey
Shipping giant Maersk to invest $500 million in Suez Canal The investment comes as the canal strives to go green following record-setting revenues. Egypt
Egypt to mobilize investments for climate projects ahead of COP27 The first regional forum organized by the Egyptian presidency of the UNFCCC COP27, among five forums aimed at encouraging investment in climate action, kicked off in Addis Ababa Aug. 2. Egypt
Saudi Arabia secures funding for electricity interconnection with Egypt Egypt just approved a plan to ration electricity, though the government said there is not a shortage of power. Egypt
Saudi Arabia’s Public Investment Fund acquires stakes in Egyptian state-owned firms The acquisitions help make good on Saudi Arabia’s pledge to invest billions in Egypt. Saudi Arabia
Here's how the latest US rate hike will impact Egypt's economy A stronger US dollar will inevitably drive higher import costs, and subsequently prices, in the most populous Arab country, yet could eventually provide a boost to the local currency with an increase in exports. Egypt
Lavrov sidesteps Nile dam dispute in meetings in Egypt, Ethiopia Russia’s Foreign Minister Sergey Lavrov seems to have avoided the GERD issue, instead focusing on his country’s relations with Egypt, Ethiopia and other African countries. Egypt
Egypt creates independent fund for Suez Canal Egypt has established a new fund for the Suez Canal manage its own revenues independently. Egypt
Egypt-China ties strengthen with recent deals China is also getting closer to Saudi Arabia, Iran and other countries in the region, primarily through economic cooperation. Egypt
Downward spiral causes crash in Egypt’s gold prices Gold prices sharply dropped in Egypt amid a drop of global prices after the US Federal Reserve hiked interest rates. Egypt
Egypt, China expand climate cooperation ahead of COP27 As Egypt prepares to host the COP27 conference, it's getting help from China to transform Sharm el-Sheikh into a green city. Egypt
