Japan-Egypt Investment Forum highlights business opportunities in Egypt

Japan-Egypt Investment Forum highlights business opportunities in Egypt
Egypt presented itself as a resilient, climate-smart gateway for Japanese corporations to expand their presence in. (ANJ)
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Japan-Egypt Investment Forum highlights business opportunities in Egypt

Japan-Egypt Investment Forum highlights business opportunities in Egypt

TOKYO: The 12th Joint Conference/Japan-Egypt Investment Forum took place in Tokyo on Tuesday with the event highlighting Egypt’s clean energy and agribusiness initiatives.

The meeting was attended by State Minister of Economy, Trade, and Industry Yuichiro Koga, with a keynote speech by Egyptian Prime Minister Dr. Mostafa Madbouly.

Opening and closing remarks were made by Ibrahim El-Araby, Chairman of the Egypt-Japan Business Council, and his counterpart on the Japan-Egypt Business Council Jun Karube.

Egypt presented itself as a resilient, climate-smart gateway for Japanese corporations to expand their presence in the agribusiness sector, with fertile land, year-round production, and growing agro-industrial zones.

It was noted that Egypt is a regional leader in citrus, vegetables, and livestock, and offers direct logistics routes to Gulf, African and European markets.

In terms of clean energy, Egypt has world-class solar and wind zones, and one of the most ambitious green hydrogen agendas in the Global South. Future cooperation with Japanese companies is envisaged in areas such as green hydrogen, ammonia, and advanced energy storage infrastructure.

The Forum highlighted Egypt’s favorable business environment and strategic location at the convergence of Europe, Africa, and the Middle East, as well as Egypt’s industrial zones and manufacturing hubs.


South Sudanese exiles face uncertain future after release from prison in neighboring Sudan

South Sudanese exiles face uncertain future after release from prison in neighboring Sudan
Updated 3 min 20 sec ago

South Sudanese exiles face uncertain future after release from prison in neighboring Sudan

South Sudanese exiles face uncertain future after release from prison in neighboring Sudan
  • The border town of Renk has become a hub for South Sudanese nationals trying to get home
RENK, South Sudan: As a young man in the mid-1980s, Daud Mahmoud Abdullah left his home in Aweil in South Sudan and headed north. It was a time of war. South Sudan was still part of Sudan and was fighting for independence, in a conflict that would claim about 2 million lives.
He never went back. But now, aged 60 and after 6 months in a Sudanese prison, he is closer to home than he’s been in 40 years. This July, he finally crossed the border back into his native South Sudan, taking a deep breath and reminding himself, “I am alive.”
After everything that has happened to him, it feels like a miracle.
Sudan – once his place of refuge – has been embroiled in a brutal civil war since April 2023 that has killed 40,000 people and displaced nearly 13 million more, according to UN agencies.
Abdullah lived in the town of Wad Madani, capital of Al-Jazirah State, about 135km south of Khartoum. There had been incursions into the area by the Rapid Support Forces, a paramilitary force once known as the Janjaweed who were notorious for mass killings, rapes and other atrocities in Darfur two decades ago. More recently, the RSF have again been accused of by the International Criminal Court of committing war crimes, including the attacks on famine-hit Zamzam and other camps in North Darfur.
In January, the Sudanese Armed Forces began recapturing parts of Al-Jazirah state from the RSF – and making sweeping arrests. Abdullah got caught up in the incursions on his way home from the market: he was picked up by SAF soldiers and accused of cooperating with the RSF.
Abdullah says that he was “beaten, tortured and burned with cigarettes” to make him confess. Although he never made a confession, he was thrown in prison.
Held without charge and tortured in prison
In a report released in March, the top UN human rights body detailed how both the SAF and the RSF have detained tens of thousands of people “without charge, with limited or no contact with their families, in squalid and overcrowded facilities” in “a widespread pattern of arbitrary detention, torture, and ill-treatment.”
Abdullah can attest to this. He remembers inmates dying from starvation, beatings or illnesses like cholera on a daily basis. One morning, he discovered that 28 of his fellow inmates had died in the night. For the next three days the bodies lay inside his cell, and the soldiers refused to remove them. “Even when you shouted to them,” said Abdullah, “they would tell you, ‘if you want to die also, you can die with them.’”
The Associated Press spoke to eight men in total, some of whom were detained in other prisons in Al-Jazirah State and Khartoum. All recounted nightmarish conditions during their incarceration. They described being crammed into cells alongside hundreds of other prisoners. Cells were so crowded that they were forced to sleep with their knees tucked under their chin. Beatings occurred regularly; one said he lost the use of his right eye as a result.
One man, Michael Deng Dut, 29, said he had been “tortured with electricity more than 18 times.” Simon Tong, 39, said that he was tortured with a knife during an interrogation, and rolled up his sleeve to expose the scars on his arm.
Many of the men said they were given only a handful of food and a small cup of water once a day. “This is the reason many of us passed away,” said Tong, “because of the lack of food and water.”
A place between north and south
In July, 99 South Sudanese prisoners were separated from the other inmates. As the men awaited their fate, one died, reducing their number to 98. On July 28, they were bundled into a bus and driven away, not knowing where they were going.
“They did not tell us they were going to release us,” says Abdullah.
He didn’t realize where he was until they reached the South Sudanese border and were taken to Renk, the country’s northernmost town, by South Sudanese officials. Though still far from home, Abdullah was back in his own country for the first time in 40 years.
The border town of Renk has become a hub for South Sudanese nationals trying to get home. When the Sudanese civil war broke out in 2023, UN agencies and the South Sudanese government established an onward transportation program which has moved more than 250,000 people, according to the UN’s International Office of Migration.
On June 1, 2025, the program was suspended due to global cuts to humanitarian funding. The number of people living in and around a transit center in Renk has since swelled to 12,000, roughly six times its intended capacity. Thousands are living in makeshift shelters made of sticks and cloth.
Reunited but stranded
But for Abdullah, arriving in Renk was a moment of overwhelming joy after months of torture and uncertainty. He was overcome to see his wife, daughter, and younger brother waiting for him. His wife had decided to take his family south after his younger brother had been arrested and released by SAF for the third time.
“When I saw Abdullah, I thanked God,” she said. “We did not expect to see him alive again.”
Abdullah now hopes to return to Aweil, the town where he was born. He still has family in Sudan, and is trying to contact them so that they might join him in Renk.
“If they come back safely, then we plan to go to Aweil,” he said. “All of us, together.”

India’s Modi to meet China’s top diplomat as Asian powers rebuild ties

India’s Modi to meet China’s top diplomat as Asian powers rebuild ties
Updated 26 min 25 sec ago

India’s Modi to meet China’s top diplomat as Asian powers rebuild ties

India’s Modi to meet China’s top diplomat as Asian powers rebuild ties
  • Chinese Foreign Minister Wang Yi, who arrived in India on Monday, expected to discuss disputed border in the Himalayan mountains with Indian leadership

NEW DELHI: Indian Prime Minister Narendra Modi will meet with China’s top diplomat on Tuesday in a sign of easing tensions between the nuclear-armed neighbors after a yearslong standoff between the Asian powers.
Chinese Foreign Minister Wang Yi, who arrived in India on Monday, is scheduled to hold talks with Modi and other leaders, including National Security Adviser Ajit Doval, about the disputed border in the Himalayan mountains. Reducing the number of troops on the border, and resuming some trade there, is expected to be on the agenda.
The rebuilding of ties coincides with friction between New Delhi and Washington after US President Donald Trump imposed steep tariffs on India, a longtime ally seen as a counterbalance against China’s influence in Asia. India is part of the Quad security alliance with the US along with Australia and Japan.
‘Compromise at the highest political level’
India and China’s decades-old border dispute worsened in 2020 after a deadly clash between their troops in the Ladakh region. The chill in relations affected trade, diplomacy and air travel as both sides deployed tens of thousands of security forces in border areas.
Some progress has been made since then.
Last year, India and China agreed to a pact on border patrols and withdrew additional forces along some border areas. Both countries continue to fortify their border by building roads and rail networks.
In recent months, the countries have increased official visits and discussed easing some trade restrictions, movement of citizens and visas for businesspeople. In June, Beijing allowed pilgrims from India to visit holy sites in Tibet. Both sides are working to restore direct flights.
Last week, the spokesman for India’s foreign ministry, Randhir Jaiswal, said India and China were in discussions to restart trade through three points along their 3,488-kilometer (2,167-mile) border.
Manoj Joshi, a fellow at the Observer Research Foundation, a New Delhi-based think tank, said relations are still at an uneasy level of normalization.
“Settling the boundary issue between the two countries requires political compromise at the highest political level,” said Joshi, who also served as a member of the advisory board for India’s National Security Council. He asserted that the countries are “still talking past each other when it comes to the border dispute and issues surrounding it.”
On Monday, China’s Foreign Ministry spokesperson Mao Ning said Beijing is willing to take Wang’s India visit as an opportunity to work with the Indian side to “properly handle differences and promote the sustained, sound and stable development of China-India relations.”
Mao said Wang’s meeting with Modi’s national security adviser will “continue in-depth communication to jointly safeguard peace and tranquility in the border areas.”
Modi plans to visit China soon
The thaw between Beijing and New Delhi began last October when Modi and Chinese President Xi Jinping met at a summit of emerging economies in Russia. It was the first time the leaders had spoken in person since 2019.
Modi is set to meet Xi when he travels to China late this month – his first visit in seven years – to attend the summit of the Shanghai Cooperation Organization, a regional grouping formed by China, Russia and others to counter US influence in Asia.
Earlier this year, Xi called for India and China’s relations to take the form of a “dragon-elephant tango” – a dance between the emblematic animals of the countries.
Last month, India’s external affairs minister visited Beijing in his first trip to China since 2020.
The US and Pakistan play roles in the thaw
The renewed engagement comes as New Delhi’s ties with Trump are fraying. Washington has imposed a 50 percent tariff on Indian goods, which includes a penalty of 25 percent for purchasing Russian crude oil. The tariffs take effect Aug. 27.
India has shown no sign of backing down, instead signing more agreements with Russia to deepen economic cooperation.
Trump’s renewed engagement with India’s archrival, Pakistan, has also encouraged New Delhi’s overtures to China, said Lt. Gen. D.S. Hooda, who led Indian military’s Northern Command from 2014 to 2016.
In June, Trump hosted Pakistan’s army chief for a White House lunch and later announced an energy deal with Islamabad to jointly develop the country’s oil reserves. Both followed Trump’s claims of brokering a ceasefire between India and Pakistan after the two sides traded military strikes in May.
That clash saw Pakistan use Chinese-made military jets and missiles against India.
“China is heavily invested in Pakistan and, practically speaking, you can’t have any expectation that Beijing will hold back support to Islamabad,” Hooda said. “But you can’t have two hostile neighbors on your borders and simultaneously deal with them also.”


A record 383 aid workers were killed in global hotspots in 2024, nearly half in Gaza, UN says

A record 383 aid workers were killed in global hotspots in 2024, nearly half in Gaza, UN says
Updated 41 min 32 sec ago

A record 383 aid workers were killed in global hotspots in 2024, nearly half in Gaza, UN says

A record 383 aid workers were killed in global hotspots in 2024, nearly half in Gaza, UN says
  • ‘Record number of killings must be a wake-up call to protect civilians caught in conflict and all those trying to help’
  • Most of the aid workers killed were national staff serving their communities who were attacked while on the job or in their homes

UNITED NATIONS: A record 383 aid workers were killed in global hotspots in 2024, nearly half of them in Gaza during the war between Israel and Hamas, the UN humanitarian office said Tuesday on the annual day honoring the thousands of people who step into crises to help others.
UN humanitarian chief Tom Fletcher said the record number of killings must be a wake-up call to protect civilians caught in conflict and all those trying to help them.
“Attacks on this scale, with zero accountability, are a shameful indictment of international inaction and apathy,” Fletcher said in a statement on World Humanitarian Day. “As the humanitarian community, we demand – again – that those with power and influence act for humanity, protect civilians and aid workers and hold perpetrators to account.”
The Aid Worker Security Database, which has compiled reports since 1997, said the number of killings rose from 293 in 2023 to 383 in 2024, including over 180 in Gaza.
Most of the aid workers killed were national staff serving their communities who were attacked while on the job or in their homes, according to the UN Office for the Coordination of Humanitarian Affairs, known as OCHA.
So far this year, the figures show no sign of a reversal of the upward trend, OCHA said.
There were 599 major attacks affecting aid workers last year, a sharp increase from the 420 in 2023, the database’s figures show. The attacks in 2024 also wounded 308 aid workers and saw 125 kidnapped and 45 detained.
There have been 245 major attacks in the past seven plus months, and 265 aid workers have been killed, according to the database.
One of the deadliest and most horrifying attacks this year took place in the southern Gaza city of Rafah when Israeli troops opened fire before dawn on March 23, killing 15 medics and emergency responders in clearly marked vehicles. Troops bulldozed over the bodies along with their mangled vehicles, burying them in a mass grave. UN and rescue workers were only able to reach the site a week later.
“Even one attack against a humanitarian colleague is an attack on all of us and on the people we serve,” the UN’s Fletcher said. “Violence against aid workers is not inevitable. It must end.”
According to the database, violence against aid workers increased in 21 countries in 2024 compared with the previous year, with government forces and affiliates the most common perpetrators.
The highest number of major attacks last year were in the Palestinian territories with 194, followed by Sudan with 64, South Sudan with 47, Nigeria with 31 and Congo with 27, the database reported.
As for killings, Sudan, where civil war is still raging, was second to Gaza and the West Bank with 60 aid workers losing their lives in 2024. That was more than double the 25 aid worker deaths in 2023.
Lebanon, where Israel and Hezbollah militants fought a war last year, saw 20 aid workers killed compared with none in 2023. Ethiopia and Syria each had 14 killings, about double the number in 2023, and Ukraine had 13 aid workers killed in 2024, up from 6 in 2023, according to the database.


A ship with hundreds of tons of food aid for Gaza nears an Israeli port after leaving Cyprus

A ship with hundreds of tons of food aid for Gaza nears an Israeli port after leaving Cyprus
Updated 52 min 51 sec ago

A ship with hundreds of tons of food aid for Gaza nears an Israeli port after leaving Cyprus

A ship with hundreds of tons of food aid for Gaza nears an Israeli port after leaving Cyprus
  • The ship loaded with 1,200 tons of food supplies for Gaza is approaching the Israeli port of Ashdod and expected to dock Tuesday
  • Some 700 tons of the aid is from Cyprus, purchased by the UAE the rest comes from Italy, the Maltese government, a Catholic religious order in Malta and a Kuwaiti NGO

LIMASSOL: After setting off from Cyprus, a ship loaded with 1,200 tons of food supplies for the Gaza Strip was approaching the Israeli port of Ashdod on Tuesday in a renewed effort to alleviate the worsening crisis as famine threatens the Palestinian territory.
The Panamanian-flagged vessel is loaded with 52 containers carrying food aid such as pasta, rice, baby food and canned goods. Israeli customs officials had screened the aid at the Cypriot port of Limassol from where the ship departed on Monday.
Some 700 tons of the aid is from Cyprus, purchased with money donated by the United Arab Emirates to the so-called Amalthea Fund, set up last year for donors to help with seaborne aid. The rest comes from Italy, the Maltese government, a Catholic religious order in Malta and the Kuwaiti nongovernmental organization Al Salam Association.
“The situation is beyond dire,” Cyprus Foreign Minister Constantinos Kombos told The Associated Press.
Cyprus was the staging area last year for 22,000 tons of aid deliveries by ship directly to Gaza through a pier operated by the international charity World Central Kitchen and a US military-run docking facility known as the Joint Logistics Over-the-Shore system.
By late July 2024, aid groups pulled out of the project, ending a mission plagued by repeated weather and security problems that limited how much food and other emergency supplies could get to those in need.
Cypriot Foreign Ministry said Tuesday’s mission is led by the United Nations but is a coordinated effort — once offloaded at Ashdod, UN aid employees would arrange for the aid to be trucked to storage areas and food stations operated by the World Central Kitchen.
The charity, which was behind the first aid shipment to Gaza from Cyprus last year aboard a tug-towed barge, is widely trusted in the battered territory.
“The contribution of everyone involved is crucial and their commitment incredible,” Kombos said.
Shipborne deliveries can bring much larger quantities of aid than the air drops that several nations have recently made in Gaza.
The latest shipment comes a day after Hamas said it has accepted a new proposal from Arab mediators for a ceasefire. Israel has not approved the latest proposal so far.
Israel announced plans to reoccupy Gaza City and other heavily populated areas after ceasefire talks stalled last month, raising the possibility of a worsening humanitarian catastrophe in Gaza, which experts say is sliding into famine.
Israeli Prime Minister Benjamin has dismissed reports of starvation in Gaza are “lies” promoted by Hamas. But the UN last week warned that starvation and malnutrition in the Palestinian territory are at their highest levels since since the war began. 
Gaza’s Health Ministry said the Palestinian death toll from from 22 months of war has passed 62,000. 


Fitch says Pakistan’s banks to gain from improving economic outlook

Fitch says Pakistan’s banks to gain from improving economic outlook
Updated 19 August 2025

Fitch says Pakistan’s banks to gain from improving economic outlook

Fitch says Pakistan’s banks to gain from improving economic outlook
  • Ratings agency cites easing inflation, stronger growth, currency stability
  • Notes risks remain tied to sovereign credit profile and pace of reforms

ISLAMABAD: Pakistan’s banks are set to benefit from better opportunities to generate business volumes due to improving operating conditions amid receding macroeconomic headwinds, Fitch Ratings said in its latest report. 

Pakistan’s economy has shown signs of stabilization in recent months after securing a $7 billion International Monetary Fund (IMF) bailout program in September 2024, which helped restore investor confidence. Ratings agencies have since upgraded the country’s sovereign credit profile, citing fiscal reforms, lower inflation, and easing external pressures.

“Pakistan’s banks are set to benefit from better opportunities to generate business volumes due to improving operating conditions amid receding macroeconomic headwinds,” Fitch Ratings said, adding that the view was reinforced by the country’s improved sovereign credit profile following its upgrade of Pakistan’s Long-Term Issuer Default Rating to ‘B-’/Stable from ‘CCC+’ in April 2025.

Fitch said Pakistan’s economic recovery comes after “a period of significant turmoil and high inflation,” with real GDP growth expected to accelerate to 3.5 percent by 2027 from 2.5 percent in 2024.

“Consumer price inflation eased to 4.1 percent in July 2025 from its peak of 38 percent in May 2023, and we expect it to average around 5 percent in 2025,” the ratings agency noted.

The statement pointed to monetary easing and currency stability as drivers of recovery:

“The halving of the policy rate since May 2024 to 11 percent and a stabilizing external position, evident in lower currency volatility and current account surpluses, should support this recovery.”

Fitch said that while lower rates and a steadier macroeconomic environment should stimulate private credit demand and reduce banks’ dependence on lending to the public sector, risks remain.

“The banks’ intrinsic creditworthiness will likely remain closely linked to the sovereign and the pace of economic reform in the near term given their significant holdings of sovereign securities and loan exposures to state-linked entities.”

Pakistani banks have posted resilient results despite recent challenges, the agency added.

“The sector’s impaired loan ratio improved to 7.1 percent by March 2025 from 7.6 percent at end-2023, driven by strong loan growth of 26 percent amid high inflation.”

Return on average equity has “normalized to 20 percent in 1Q25, from around 27 percent in 2023,” while capital adequacy reached “a decade-high of 21 percent by March 2025.”

Fitch said that most large Pakistani banks “are well-positioned to navigate the transition to a more normalized operating environment of lower interest rates, although structural challenges persist.”