Fresh data show Egypt s inflation inched higher in June in a trend likely to continue as electricity and fuel prices rise. The VanEck Vectors Egypt Index exchange-traded fund (EGPT) was down 2% Monday in midday trading, paring earlier losses. Reutersquotes sources who say the import-dependent nation s core inflation, which rose to 31.95%, could rise to 35 percent over the next four weeks unless the Egyptian pound strengthens. The currency has lost half its value since the central bank allowed it to float.

Egypt expects to receive a second loan installment worth $1.25 billion from the International Monetary Fund within the next week, Finance Minister Amr El-Garhy told private television channel CBC on Monday

Egypt is currently working to end a Saudi ban on imports of Egyptian strawberries implemented by the Gulf country on Saturday, agriculture minister Abdel-Moneim El-Banna said on Sunday. El-Banna said in press statements his ministry is in talks with Saudi officials to resolve several problems related to the export of a number of products, including strawberries, as a prelude to the reintroduction of exports to the Gulf country, which imposed the ban in June but put it in effect this week. The minister stressed that Egyptian experts will be presented with Saudi conditions for resuming Egyptian crop imports.

Egypts Minister of Transportation Hesham Arafat said in an interview with Al-Masry Al-Youm newspaper on Sunday that ticket prices for Cairos metro system are expected to see a gradual increase reaching up to EGP 4 by the last quarter of 2018. Railway ticket prices will also see an increase, but not before the completion of ongoing development and renovation projects worth EGP 45 billion, according to Arafat.

Egypts central bank governor Tarek Amer told state run Al-Akhbar Daily on Sunday that the recent hike in interest rates should lead the holders of US dollars to buying Egyptian pounds, thereby boosting the pounds value. On Thursday, the CBE unexpectedly raised its key interest rates by 200 basis points for the second policy meeting in a row. At the meeting of its Monetary Policy Committee, the bank raised the overnight deposit rate to 18.75 percent from 16.75 percent, and its overnight lending rate to 19.75 from 17.75 percent, after hiking the rates by 200 points each at the last policy-setting meeting in May.

Egypt announced new hikes in electricity prices by up to 42 percent for households as part of a government reform programme that will include removing power subsidies entirely over the next few years. The new price hikes range from 18 to 42 percent depending on consumption levels and will take take effect as of this months bill, electricity minister Mohamed Shaker said Thursday during a press conference aired on state TV.

The Egyptian parliament passed a law on Tuesday that will phase out judicial supervision of elections by 2024, and will create the National Electoral Commission (NEC) that will be responsible for supervising elections and referendums. Parliament Speaker Ali Abdel Aal said at the session on Tuesday that the removal of full judicial supervision puts a stop to the “judge for every voting box” principle. The law was discussed earlier in June when parliament was divided over Article 34 which states the complete phasing out of judicial supervision by 2024 to offer the NEC some experience.

Egypt, Saudi Arabia, the UAE, and Bahrain said in a joint statement on Wednesday that Qatar has displayed "complacency and a lack of seriousness" in response to the four countries demands that Qatar stop backing terrorism and interfering in the affairs of neighbouring countries.

EgyptAir will soon launch two flights per week from Cairo to al-Alamein, a town on Egypt’s northern Mediterranean, as part of a plan to boost internal tourism, Chairman of EgyptAir Safwat Mosalam said in a statement. “We are keen to facilitate this for customers to spend summer weekends there, which is why we scheduled weekly flights to run Thursdays and Saturdays, Mosalam said.

Fuel prices have recently risen by more than 40 percent for high octane gasoline 92, which may force many to use low octane gasoline or even give up driving their cars. However, there are ways you can reduce fuel consumption and lessen the impact of the recent inflation: 1- Close the windows when on highways: When the car windows are open, the air resistance of the vehicle is strong. So when you exceed the speed of 80 kilometers per hour, close the windows; this improves vehicle dynamics and resistance to air and reduces fuel consumption by 4 to 5 percent.

The US dollar embarked on a new wave of decline against the pound and lost the equivalent of about 20 piastres of its value on Monday and Tuesday. The greenback settled on EGP 17.8285 for buying and EGP 17.9543 for selling, compared to EGP 18.0276 for buying and EGP 18.1518 for selling on Sunday. In banks, the dollar was changing hands on Tuesday at EGP 17.8-17.9 for buying and EGP 17.9-18 for selling.

Egyptian President Abdel-Fattah El-Sisi said during a meeting with Hungarian Prime Minister Victor Orban on Monday that Egypt s ongoing fight against terrorism guarantees Europe s security and stability. El-Sisi arrived in Budapest on Monday to attend a summit by the Visegrad Group, which is a cultural and political alliance of the Czech Republic, Hungary, Poland and Slovakia.

For the first time in four months, the exchange rate of the US dollar against the Egyptian pound fell below the level of LE18 on Monday in all banks operating in the local market. Bankers said in statements to the state-run Middle East News Agency (MENA) that the supply of the US dollar in banks is increasing as is the demand for it.

The Disney company is lifting a ban on having its merchandise manufactured in Egypt, trade minister Tarik Kabil announced on Sunday. Disney instituted the ban in February after a drop in Egypt s ratings in the worldwide governance indicator and the country not joining the International Labour Organisation s (ILO) Better Work Programme, according to media reports.

Minister of Investment and International Cooperation Sahar Nasr vowed on Sunday to support women and provide equal opportunity investment. Nasr was speaking on the sidelines of the ìEgypt Canî event for women, which was held in Al Masah Hotel amid the participation of Egyptian women scientists and experts working abroad. The conference witnessed the participation of 30 women serving in various leading positions in different countries.

Egypt s President Abdel-Fattah El-Sisi stressed on Sunday during a meeting in Cairo with a US congressional delegation the necessity of taking clear and decisive actions against countries that support terrorism logistically and financially.

Egypt s cabinet announced on Thursday a cut in energy subsidies, effective immediately, resulting in an increase in fuel prices. The price of 80-octane gasoline has increased from EGP 2.35 per litre to EGP 3.65. The price of 92-octane gasoline has been raised from EGP 3.50 to EGP 5. The price of gas cylinders has doubled from EGP 15 to EGP 30. Prime Minister Sherif Ismail said on Thursday that the implementation of economic reform measures can no longer be delayed.

Egypt s Foreign Minister Sameh Shoukry heads to Ethiopia on Thursday to participate in preparatory meetings for the 29th African Union Heads of State Summit in Addis Ababa, the Egyptian foreign ministry said on Wednesday.

Egypt s delegation to the UN said in a session on Tuesday that Qatar has supported terrorist organisations in Libya; the delegation called for sanctions on the Gulf state which is already in hot water with some of Arab states over these charges, a foreign affairs ministry statement read. In a session on the obstacles to combating terrorism in Libya, the Egyptian representatives said that terrorism is the main obstacle to achieving stability in Libya and that the negative effects of terrorism in Libya have extended to its neighbouring countries and the entire region.

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced the rise of the number of foreign workers in the public sector in 2016 to reach 889 foreigners, compared to 850 foreigners in 2015. The agency attributed the rise to the stability of the situation in the country.

Egypt s air forces halted an arms smuggling operation to Egypt through the Western Desert, the Egyptian armed forces announced on Tuesday. According to a statement published on the army spokesperson s official Facebook page, air forces acting on intelligence reports launched a mission on the Egyptian-Libyan border and destroyed 12 (4x4) vehicles carrying weapons, ammunition and explosives.