The 2012 Skywards Millionaire is Chosen

Skywards, Emirates’ award-winning  Frequent Flyer programme, has raised nearly 350,000AED in this year’s Thanks a Million raffle draw at the Dubai World Cup, 50,000AED more than last year’s raffle. Funds raised will go to three charities: Senses, the Red Crescent, and the UN World Food Programme (WFP).

The lucky grand prize winner, the Skywards Millionaire, is Mats Karlsson, a local Dubai resident originally from Sweden and a Skywards Blue member. Mats and his wife will be able to use their miles in a variety of ways – a trip around the world or 22 Emirates return tickets to their home country – joining an elite group of less than 1% of all 6 million Skywards members worldwide with over a million Miles. Additionally, in an incredible coincidence, the first runner-up and winner of 500,000 Skywards Miles (enough for 12 return tickets to Europe), Ashley Samuel, is the second member of her family to win in the Thanks A Million raffle. Ashley’s mother, Lovely Samuel, won the second place prize in last year’s raffle. Ashley and her mother have enjoyed their year of travel, going to locations such as Canada, the USA, and home to India.

Leave a comment

Egypt approves $2m grant from AfDB for VICMED feasibility studies

Egypt has approved a $2 million grant from the African Development Bank (AfDB) to support the second phase of feasibility studies for the navigation corridor project between Lake Victoria and the Mediterranean (VICMED).

According to a decree issued by the Egyptian Presidency, the grant agreement has been approved, subject to ratification. The decision followed the endorsement of the Council of Ministers.

The House of Representatives approved the decree in a session held on 8 October 2024.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser

RBI’s $5b swap auction to see strong demand

The Reserve Bank of India‘s (RBI) $5 billion buy-sell swap auction on Friday is anticipated to draw strong interest from lenders and corporate treasuries, six bankers told Reuters on Thursday.

The central bank will be conducting a 6-month dollar/rupee buy-sell swap as part of its efforts to inject liquidity of around 1.5 trillion rupees ($17.33 billion) into the banking system.

The RBI’s actions to support the rupee from reaching record lows have resulted in increased dollar liquidity in the banking system.

Attribution: Reuters

Subediting: Y.Yasser

Egypt’s gold prices surge on Thursday

Egypt’s gold prices surged on Thursday, January 30, 2025, as of 1:25 pm CLT (11:25 GMT), compared to prices recorded on January 29, 2025, according to an electronic gold price platform.

Metal January 30th (EGP) January 29th (EGP) Change %
24 Carat 4,428.50 4,405.75 0.52
21 Carat 3,875.00 3,855.00 0.52
18 Carat 3,321.50 3,304.00 0.53
14 Carat 2,583.25 2,570.00 0.52
Gold Pound 31,000.00 30,840.00 0.52

It’s important to note that gold prices may fluctuate throughout the day. This information reflects the pricing data as of a specific time.

(1 United States dollar = 50.25 Egyptian pounds)

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

Egypt, Kenya elevate relations to strategic partnership

Egypt’s President Abdel Fattah El-Sisi and his Kenyan counterpart, William Ruto, signed a joint declaration in Cairo to elevate relations between the two countries to the level of a comprehensive strategic partnership, the Presidency Spokesman announced on Wednesday.

The two parties agreed to bolster economic, trade, and investment cooperation, recognising significant opportunities for growth between the two nations. The further agreed to establish a joint Business Council to strengthen economic ties and explore new trade and investment opportunities in mutually significant sectors. The council is set to convene by the end of 2025.

The cooperation will span key sectors, including agriculture, manufacturing industries, water resource management, energy, telecommunications, information technology, and infrastructure. These sectors are expected to contribute to job creation, poverty reduction, and sustainable development.

Moreover, both countries acknowledged the importance of addressing trade barriers and procedural obstacles that hinder economic integration efforts across Africa. As part of this commitment, they pledged to intensify efforts to implement and finalise the African Continental Free Trade Area.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

 

 

Egypt, Kenya trade reaches $567m in ’24

Egypt’s President Abdel Fattah El-Sisi received Kenyan President William Ruto on Wednesday to discuss cooperation frameworks and strengthen bilateral relations.

Trade exchange between the two countries reached $567 million in 2024, compared to $638 million in 2023, according to CAPMAS data. Egyptian exports to Kenya amounted to $307 million in 2024, down from $327 million in 2023, while imports from Kenya stood at $260 million in 2024, compared to $311 million in 2023.

Top Egyptian Exports to Kenya in 2024

The most significant Egyptian exports to Kenya included:

  • Paper and paperboard products worth $39 million
  • Electrical machinery and equipment worth $28 million
  • Various food preparations worth $26 million
  • Plastics and articles thereof worth $23 million
  • Iron and steel worth $22 million

Top Egyptian Imports from Kenya in 2024

Egypt’s main imports from Kenya were:

  • Coffee, tea, and spices worth $242 million
  • Fruits and edible nuts worth $6 million
  • Paper and paper products worth $5 million
  • Live trees and other plants worth $4 million

Remittances and Investments

Remittances from Egyptians working in Kenya reached $9.2 million in the 2023/2024 fiscal year, up from $7.6 million in 2022/2023. Meanwhile, remittances from Kenyans working in Egypt amounted to $1.2 million in 2023/2024, compared to $958,000 in 2022/2023.

Kenyan investments in Egypt rose to $558,000 in 2023/2024 from $146,000 in 2022/2023. However, Egyptian investments in Kenya declined to $453,000 in 2023/2024 from $10.5 million in 2022/2023.

Population Figures

The Egyptian mission estimated the number of Egyptians residing in Kenya at around 1,000 by the end of 2023.

Attribution: Amwal Al Ghad Enlgish

Subediting: M. S. Salama