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.

The semi-governmental National Council for Women (NCW) issued a report on Monday saying that 35 cases of harassment against women were documented on the first day of Eid El-Fitr, with several resulting in legal complaints. The NCW said that 13 cases of verbal harrassment were documented in Fustat Park in south Cairo, while 22 cases of physical harrassment were documented at Giza Zoo. Meanwhile, Reda El-Danbouky, the executive director of the Women s Center for Guidance and Legal Awareness (WCGLA), told Ahram Online that the independent group s hotline had received 19 complaints of verbal harassment and 12 of physical harassment in downtown Cairo on the first day of Eid.

Governmental sources said that the maritime border demarcation agreement with Saudi Arabia, which located the two Red Sea islands within Saudi territories, will be enforced once President Abdel Fattah al-Sisi approves it on Saturday. Parliament already ratified it on June 14. It’s expected to be published in the official gazette and thus be immunized against appeal. Speaking on condition of anonymity, the sources ruled out any ceremonies for the handover of the islands to Saudi Arabia, during which the Saudi flag will be hoisted. They denied that any new measures are to take place between Egypt and the kingdom regarding Egyptians’ access to the islands, saying there will be no visas required.

Egyptian Minister of Social Solidarity Ghada Waly met with the World Bank mission Saturday in Cairo to follow up on the progress of social safety net programme Takaful and Karama. The World Bank mission, which was on a five-day visit to Cairo ending today, made field visits in Fayoum and Beni Suef governorates, where the programme is implemented. The mission met with local authorities and beneficiaries of the five-year $400 million project financed by the World Bank.

Egypt s exports totalled $5.1 billion in the second quarter of the fiscal year 2016/17, an increase on the $4.3 billion recorded during the same period of 2015/16, according to a Central Bank of Egypt (CBE) report published on Sunday.