Companies affiliated with the business sector in Egypt made net profits of EGP 11.3 billion in the fiscal year 2017/18, with total earnings of EGP 18.5 billion reported by profitable companies and losses estimated at EGP 7.2 billion by the unprofitable ones, said Public Business Sector Minister Hisham Tawfik on Monday. Delivering the inaugural speech at the Influential Growth annual conference, organised by the economic newspaper Hapi Journal, Minister Tawfik said that his ministry seeks to achieve sustainable development for the public business sector with a view to making a leap in the profits of its affiliate companies.

Egypt will keep its customs exchange rate steady at EGP 16 to the dollar for strategic and essential goods for April, the finance ministry said on Monday. The ministry reduced the exchange rate for unnecessary or luxury goods to EGP 17.4 to the dollar. Egypt began setting a monthly fixed customs exchange rate in January 2017, following the central bank s decision to float the Egyptian pound in November 2016. The dollar was set at EGP 16 in August 2018. The finance ministry has since reviewed the rate every month.

Egypt s Red Sea governorate has decided to ban single-use or disposable plastics, starting from June. According to the Association for the Protection of the Environment, the decision, made by the governor, aims to protect wildlife, marine life and endangered species, all of which have been severely affected by plastic due to ingestion, poisoning or suffocation.

President Abdel-Fattah El-Sisi announced on Saturday that the minimum monthly wage of state employees would increase from EGP 1,200 to 2,000, to take effect from 30 June. The last a minimum wage increase for public sector was introduced in January 2014 from EGP 700 to 1,200. El-Sisi also announced a number of reform measures to ease the effects of austerity on Egyptians. The decisions came during a speech at a celebration organised by the National Council for Women to celebrate Egyptian women and ideal mothers at Al-Manara International Conference Centre in New Cairo. Increases to bonuses, pensions

Egypt’s Minister of Planning Hala al-Saeed on Sunday held a workshop to discuss the transferring of governmental bodies and ministries to the New Administrative Capital, as well as processing job evaluation of employees. Saeed said that transferring to the New Administrative Capital is great opportunity to qualify employees and train cadres in the state administrative apparatuses. She added that the government would insert new administrative capital’s culture and thought in the government apparatuses.

Egyptian President Abdel-Fattah El-Sisi and Abu Dhabi Crown Prince Mohammed Bin Zayed Al-Nahyan have called for greater cooperation to combat threats to Arab countries, including interference in their internal affairs, during talks in Egypt Wednesday. El-Sisi and Al-Nahyan, who is also deputy supreme commander of the UAE Armed Forces, held a bilateral meeting on development, economic and political cooperation in Ras El-Teen presidential palace in the Mediterranean city of Alexandria, an Egyptian presidency spokesman said in a statement. This was followed by broader talks between delegations of the two countries.

Egypt s 2019-2020 budget will assume an exchange rate of 18.00 Egyptian pounds per U.S. dollar and an oil price of 68 dollars a barrel, two government sources told Reuters. The government has allocated 52.8 billion Egyptian pounds to fuel subsidies, down from 89 billion in previous budget, the sources added.

Egyptian Foreign Minister Sameh Shoukry and US Secretary of State Mike Pompeo sought greater cooperation between their countries to ensure stability in the region during talks in Washington Tuesday. The two officials discussed ways to boost mutual cooperation and strategic partnership, as well as bolstering efforts to "confront regional and international threats and to achieve stability in the Middle East," Egypt s foreign ministry said in a statement.

Egypt s Cairo Criminal Court has ordered on Wednesday the release of Researcher and Journalist Hisham Gafaar, with precautionary measures, including parole and travel ban, pending a case in which he is tried for joining a "banned organization". Gafaar was arrested in 2015 on charges of "joining an organization founded against the terms of law and receiving bribe".

The House of Representatives on Sunday issued a statement clarifying the procedures to be followed for the amendment of the constitution. According to the statement, 155 MPs submitted to request the amendment of certain articles in accordance with Article 226 of the constitution. The statement said that the parliament followed Article 226 of the Constitution and a set of parliamentary procedures stipulated in the bylaws of the House of Representatives.

A meeting of foreign ministers and intelligence chiefs from Egypt, Jordan, and Iraq convened in Cairo on Saturday, a statement by Egypt s foreign ministry read. The Saturday meetings come in preparation for the tripartite summit which is expected to be held between President Abdel-Fattah El-Sisi, Iraqi Prime Minister Adel Abdul Mahdi and King Abdullah of Jordan, spokesperson to the Egyptian FM Ahmed Hafez explained.

Egypt s parliament speaker Ali Abdel-Aal told MPs on Monday that he is keen to listen to their comments and remarks on proposed amendments to Egypt s 2014 constitution. "We want a dialogue without barriers, but at the same time this dialogue should be within the limit of the amendments submitted by the majority MPs on 3 February," said Abdel-Aal.

Egyptian President Abdel-Fattah El-Sisi discussed on Monday with Chinese Minister of Defence Wei Fenghe military and security issues of common concern, according to a statement by the Egyptian presidency spokesperson. During the meeting, El-Sisi highlighted Egypt s support for China s "Belt and Road" initiative to promote trade and economic cooperation between Asia, Europe, the Middle East and Africa. El-Sisi stressed that "this new initiative will support Egypt s development efforts which aim to attract investment to major national projects in the Suez Canal zone and the establishment of industrial and logistical zones and ports on the Red Sea and the Mediterranean." The meeting also touched on bilateral cooperation on the security and military levels, the fight against terrorism and joint exercises.

Egyptian President Abdel-Fattah El-Sisi received Sunday Jordanian counterpart King Abdullah II in an official ceremony at Ittihadeya Palace in Cairo. The two leaders attended a military parade held in honour of King Abdullah upon arrival to Cairo. El-Sisi and Abdullah II are expected to be joined later by Iraqi Prime Minister Adel Abdul-Mahdi to hold a tripartite meeting that aims at boosting ties between the three countries.

Egypt s Parliament Speaker Ali Abdel Aal said Sunday that amendments of the Egyptian Constitution are expected to be ready by mid-April if approved by lawmakers. A statement was issued by Abdel Aal Sunday following a parliamentary session.

Egypt s health ministry has tested around half of the country s population so far for hepatitis C as part of an unprecedented campaign to eradicate the disease by 2022. More than 43 million people have been screened as part of the 100 Million Lives campaign, 12 million of whom have been tested since the beginning of March, Health Minister Hala Zayed said in a statement on Thursday.

The Constitutional and Legislative Affairs Committee of the House of Representatives will meet on Wednesday and Thursday to commence social dialogue on the proposed amendments to the 2014 Constitution. Speaker of the House of Representatives Ali Abdel Aal invited several constitutional jurists and law professors from Egyptian universities, the National Media Authority, the National Press Authority, several judicial bodies and the specialized national councils to attend the sessions.

The Egyptian parliament s legislative and constitutional affairs committee will begin holding national dialogue meetings on proposed amendments to the country s 2014 constitution on Wednesday. Sources said the dialogue was scheduled to begin on Monday and Tuesday, but it was postponed to Wednesday and Thursday as parliament speaker Ali Abdel-Aal and a number of leading MPs were attending the Arab-African Youth Forum in Aswan this week.

Speaking on Tuesday at the opening of the Portofolio Egypt 2019 conference held by private think tank Al-Mal-GTM under the title "Opportunities Blunted by Risks," Egypt s Minister of Public Business sector Hisham Tawfik promised a new era in investment for maximum returns. Minister Tawfik pointed out that the assets owned by the companies that fall under the ministry include real estate assets, equity owned by subsidiaries or joint ventures.

The Egyptian parliament s legislative and constitutional affairs committee will begin holding national dialogue meetings on proposed amendments to the country s 2014 constitution on Wednesday. Sources said the dialogue was scheduled to begin on Monday and Tuesday, but it was postponed to Wednesday and Thursday as parliament speaker Ali Abdel-Aal and a number of leading MPs were attending the Arab-African Youth Forum in Aswan this week.

Egypt has reached an initial deal with Japan s Nissan Motor to produce vehicles in Egypt with the aim of exporting, Public Enterprise Minister Hesham Tawfik said on Tuesday. The deal, signed in partnership with the government s Nasr Co for vehicle manufacturing, aims to produce 100,000 vehicles annually, increase the use of locally sourced components in vehicle production and export to other countries, the minister said.