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The world is in a race against time to find alternative financing solutions, Finance Minister Mohamed Maait told Nashat Al Dahi on Al Waraqa Al Qalam (watch, runtime: 5:17). During a global crisis, the adoption of monetary tightening policies by some countries is resulting in an unprecedented rise in the cost of financing and debt servicing, Maait said. That many countries find themselves in a negative economic situation is a threat to the international financial system and could lead to a financial collapse like that seen in 2008, he added. Maait’s comments come after President Abdel Fattah El SIsi called for reform of global finance at a Paris summit over the weekend. More on that in our Diplomacy section, below.,
The Egyptian-Indian “strategic partnership”: The two countries are set to sign new investment agreements, Planning Minister Hala El Said told Amr Adeeb (watch, runtime: 4:06), as Indian Prime Minister Narendra Modi kicks off a two-day trip to Egypt. Several sectors are on the table for potential partnerships, she added, including infrastructure, green industries, EV manufacturing, and pharma. Modi’s visit was also covered by Al Hayah Al Youm (watch, runtime: 6:29). We have more on the Indian businesses looking to invest here in the news well, above.
Some 20k new tombs will be built to provide an alternative sites for tombs threatened by rising groundwater, Cabinet Spokesperson Nader Saad told Lubna Assal on Al Hayah Al Youm (watch, runtime: 7:18), following Prime Minister Moustafa Madbouly’s visit to the Salah Salem cemetery yesterday. The government will bear the full cost of transferring the tombs to the new Cemetery of the Immortals, Madbouly said, while the Salah Salem site will be redeveloped into gardens, parks, and roads. No “significant construction” will be undertaken at the site due to its low-lying elevation that causes a build up of groundwater, with the space instead to be used to add “green lungs” to Cairo, Madbouly reportedly said during his visit. The story also got coverage from Ahmed Moussa on Ala Mas’ouleety (watch, runtime: 3:39) and Lamees El Hadidi on Kelma Akhira (watch, runtime: 5:29).
Manchester City coach Pep Guardiola’s visit to Egypt sends the message that “Egypt is a safe, hospitable and welcoming country where celebrities choose to vacation with their families and friends,” head of the Tourism Promotion Board Amr El Kady said during a phone interview with Muhammad Al Baz on Akher El Nahar (watch, runtime: 5:24). Guardiola’s visit also got coverage from Moussa (watch, runtime: 4:17), El Hadidi (watch, runtime: 5:11) and Assal (watch, runtime: 4:50).
