Egypt reportedly cut back on its fuel shipments to Gaza by 33-50% on Saturday after the Ramallah-based Palestinian Authority froze the bank transfers that were funding the shipments, Gaza’s power authority said, according to Maan News Agency. The move is part of the PA’s efforts to curb the warming of ties between Hamas and Egypt, which most recently saw discussions between the two sides on an agreement that would see Egypt supply the group with security equipment. The news coincided with Palestinian President Mahmoud Abbas’ arrival in Cairo last night for a meeting with President Abdel Fattah El Sisi today, Al Masry Al Youm reports.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…