Taipei, Taiwan —  In South Korea, a global energy supply crunch has hit hard. Officials have advised energy conservation, cut growth forecasts and warned of fallout from high inflation and 17-year lows in the value of its currency. Yet the nation’s largest companies are raking in record profits, and its stock market is hitting all-time highs. …
The post Tech boom vs oil crisis: Asia’s new economic reality is a warning for the world appeared first on Egypt Independent.

The Pentagon says the cost of the Iran war is $29 billion, a figure that’s higher than the $25 billion price tag it issued to Congress two weeks ago. But according to one war budgeting expert, the conflict will ultimately cost US taxpayers at least $1 trillion. On Tuesday, a senior Pentagon official said the …
The post Is the Iran war costing Americans $29 billion or $1 trillion? appeared first on Egypt Independent.

Talaat Moustafa Group Holding (TMG) has achieved sales exceeding EGP 30bn for its “The Spine” project within 15 days of its official launch. The figure represents more than 65% of the targeted sales for the project’s first year, an indicator the group says reflects strong local demand and the distinctiveness of its real estate product. […]
The post Talaat Moustafa Group achieves EGP 30bn in sales for “The Spine” in 15 days  first appeared on Dailynewsegypt.

Talaat Moustafa Group reported strong financial results for the first quarter of 2026, posting a 24% year-on-year increase in net profit to EGP 5.5bn, reflecting the group’s continued operational momentum across its core business segments. The group’s revenues rose 39% year-on-year during the first three months of 2026 to reach EGP 13.1bn, supported by robust […]
The post Talaat Moustafa Group Q1 2026 Net Profit Rises 24% to EGP 5.5bn first appeared on Dailynewsegypt.

  Iran described the presence of Egyptian fighter jets in the United Arab Arab Emirates (UAE) as a “foreign forces presence”, warning that it undermines regional security and stability.  In what was reported by outlet news as the first official Iranian comment on the matter, Iranian Foreign Ministry Spokesperson Esmail Baghaei said at a weekly press conference on Monday 12 May that Iran’s relationship with Egypt is built on mutual respect, adding that any intervention harming the region’s security is unacceptable regardless of who is behind it. Baghaei argued that security based on the presence of foreign forces would only worsen insecurity in the region.  His remarks followed several days after the UAE Ministry of Defense announced that UAE President Sheikh Mohammed bin Zayed and Egyptian President Abdel Fattah Al-Sisi conducted an inspection visit of an Egyptian fighter jets detachment stationed in the UAE.  The UAE statement marked the first official acknowledgment of the deployment of French Rafale fighter jets from Egypt to Emirati territory, presented as part of efforts to strengthen joint defense capabilities. The development comes amid heightened tensions between Iran and Gulf states, with the announcements occurringContinue reading "Iran Condemns Egypt’s Fighter Jets Deployment in UAE as “Foreign Forces Presence”"
The post Iran Condemns Egypt’s Fighter Jets Deployment in UAE as “Foreign Forces Presence” first appeared on Egyptian Streets.

  On Monday, 11 May, Israel’s parliament approved legislation establishing a special tribunal with the authority to impose the death penalty on Palestinians who are linked to taking part in the  7 October 2023 resistance attack that triggered the war in Gaza. The bill passed by 93 votes to zero in the 120-seat Knesset on Monday, with the remaining 27 lawmakers either absent or choosing to abstain. The near-unanimous vote signals broad political consensus for the measure within the Israeli legislature. The new tribunal is separate from a law passed in March that already allows the death penalty for Palestinians convicted of killing Israelis, a measure that drew sharp condemnation from the international community and human rights organisations, who called it discriminatory and inhumane.  Under the new legislation, a panel of judges can hand down the death sentence by majority vote. Proceedings must be held in a Jerusalem courtroom and livestreamed publicly. Defendants retain the right to appeal, but their cases must go before a dedicated appeals court rather than the regular court system. The legislation comes as Palestinians resisting the occupation face suppression not only physically but increasingly inContinue reading "Israel to Allow Death Penalty for Palestinians Linked to October 7 Resistance"
The post Israel to Allow Death Penalty for Palestinians Linked to October 7 Resistance first appeared on Egyptian Streets.

Global oil supply is expected to fall short of demand this year, as the war in Iran severely disrupts Middle East production, Reuters reported citing the International Energy Agency’s (IEA) monthly oil market report. This comes as global supply in 2026 is projected to fall short of demand by 1.78 million barrels per day (b/d), […]
The post IEA Warns of Oil Supply Deficit in 2026 first appeared on Egypt Oil & Gas.

The French energy major, TotalEnergies, signed a memorandum of understanding (MoU) with the Egyptian Natural Gas Holding Company (EGAS) to cooperate on natural gas exploration in the Western Mediterranean. The agreement, according to a Cabinet statement, covers a large offshore area and aims to advance early-stage exploration in one of Egypt’s most promising frontier regions. […]
The post TotalEnergies to Resume Gas Exploration in Egypt, Eyes Western Mediterranean first appeared on Egypt Oil & Gas.