CAIRO: Egypt’s government has rejected claims that the country is exposed to bankruptcy risk due to its debts and the cost of servicing them during rate rises and inflation.
It also cited a report on the performance of the Egyptian economy from June to November.
The Cabinet said Egypt’s ratio of external debt to GDP was 34.1 percent, below the maximum risk limit of 50 percent.
The report said the structure and diversity of Egypt’s external debt instruments including loans, deposits, issued bonds and short-term credit facilities, were positive.

WASHINGTON: The US has hailed the decision to hold next year’s 28th UN climate change conference in the UAE.
Special Presidential Envoy for Climate John Kerry said that fossil fuel economies should be encouraged to lead the transition to clean energy, the Emirates News Agency reported on Thursday.
“It’s very exciting that the UAE, an OPEC member, is going to host COP28, and it’s so important that you have an oil and gas producing nation step up and say we understand the challenge of the climate crisis,” he told Reuters.

WASHINGTON: The Biden administration on Thursday is set to impose sanctions on prominent Turkish businessman Sitki Ayan and his network of companies, accusing him of acting as a facilitator for oil sales and money laundering on behalf of Iran’s Revolutionary Guard Corps.

BAGHDAD/NASSIRIYA: Iraqi security forces shot dead two protesters in the southern city of Nassiriya on Wednesday after using live ammunition to disperse an anti-government protest, police and medical sources told Reuters.
At least 16 protesters were wounded, mainly by live bullets, when security forces attempted to move them away from bridges and a central square, the sources said.
Police said protesters threw stones at security forces, wounding 17. A Reuters witness said crowds subsequently gathered outside a hospital morgue, demanding the release of the two bodies.

KUWAIT: The Venezuelan Islamic School, funded by Kuwaiti businessmen and overseen by Zakat House, has opened in the country’s capital Caracas, the Kuwait News Agency reported on Wednesday.

More than 180 students in kindergarten, primary, and secondary school will be taught Arabic, Islamic education, and the Venezuelan curriculum following Kuwait’s first charitable work in the country.