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Egypt’s Central Bank Maintains Stable Interest Rates

CAIRO: The Central Bank of Egypt (CBE) kept its key overnight interest rates unchanged on Thursday, saying commodity prices appear to be falling and economic growth is likely to recover in the fiscal year that begins next week. As expected, the bank’s Monetary Policy Committee (MPC) left the lending rate steady at 19.25 percent and the deposit rate at 18.25 percent. Not one of 17 analysts polled by Reuters on Monday had forecast a change.

Ukraine Ground Report

Humanitarian relief activist Amed Khan gives a firsthand account of his time in Ukraine.

The post On the Ground in Ukraine appeared first on The Intercept.

Allies of Kyiv pledge to hold Russia accountable for invading Ukraine.

LONDON: Western allies on Wednesday promised to make Russia pay for invading Ukraine as governments and private investors met to fund the country’s reconstruction from the ravages of war. The World Bank has put an estimate of $14 billion on Ukraine’s immediate needs to repair the damage caused by the bitter fighting. But a recent study by the World Bank, the UN, the European Union and the Ukrainian government said the wider recovery of the economy would cost $411 billion.

N’Golo Kante Joins Karim Benzema at Ittihad in Jeddah

RIYADH: French superstar N’Golo Kante has completed his transfer to Saudi side Al-Ittihad, the club announce early on Wednesday, and joins fellow Frenchman Karim Benzema in Jeddah. The team made fun of rumors around the deal being scuttled by medical issues  in a video skit on Twitter, showing the midfielder failing his medical before breaking the good news to fans.

“Ukrainian Kickboxing Champ Maksym Bordus Dies in War”

KYIV: Ukrainian kickboxing champion Maksym Bordus has been killed fighting Russian forces, a website that lists athletes killed in the war said on Tuesday. Bordus was killed on June 11 in “fierce fighting against Russian invaders,” according to “Sport Angels,” a Ukrainian website set up with the assistance of the Sports Committee that brings together NGOs and federations from non-Olympic sports. “Every day he brought Ukraine’s victory closer with a weapon in his hands, but he himself will not see it,” it wrote under a photograph of Bordus posing with several medals.

“Pentagon’s Secret Service Monitors Social Media for Negative Tweets About Generals”

An unredacted document shows the Protective Services Battalion uses sophisticated surveillance tools that can pinpoint anyone’s location.

The post Pentagon’s Secret Service Trawls Social Media for Mean Tweets About Generals appeared first on The Intercept.

Egypt seeks to join BRICS, confirms Russian ambassador

RIYADH: In a bid to enhance trade and economic cooperation, Egypt has officially applied to join the five-member BRICS bloc of emerging economies, according to Georgy Borizenko, the Russian ambassador to Cairo.  The BRICS group comprises Brazil, Russia, India, China and South Africa. “Egypt has applied to join the BRICS group because one of the initiatives that BRICS is currently engaged in is the maximum transfer of trade to alternative currencies, whether national or the creation of some kind of joint currency. Egypt is very interested in this,” said Borizenko. 

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