Egypt expands the powers of the military-linked Future of Egypt authority, giving it wider control over state assets, companies and strategic economic sectors.
Egypt will restructure a military-linked body focused on agricultural and industrial development and commodities imports into an overarching economic authority reporting directly to the president.
President Abdel Fattah el Sisi has ratified the law to restructure the 'Future of Egypt' economic authority, according to the official gazette published on Monday.
The law allows the authority to absorb state land and companies, run tax-exempt "sustainable development zones," and operate other funds.
Since 2024, Future of Egypt has been entrusted with running one of the world’s largest wheat import operations.
It has also assumed control over major Egyptian lakes and fisheries, acquired the largest stake in the Egyptian Commodities Exchange, and expanded into luxury housing and construction, renewable energy and infant formula.
South Africa's migrant exodus leaves employers short-handed
Several employers in South Africa, particularly those in the agriculture sector, have decried a shortage of manpower after thousands of foreigners left the country due to anti-migrant unrest.
Morocco extinguishes forest fires in northern, central regions
Moroccan authorities on Saturday extinguished forest fires that broke out in the provinces of Tetouan in the north and Taroudant in the country's central region.
Ugandan diplomat Olara Otunnu joins race to succeed Guterres as UN chief
Ugandan diplomat Olara Otunnu has joined the contest to become the next secretary-general of the United Nations, the seventh contender seeking to succeed Antonio Guterres later 2026.
