The country’s minister of tourism and antiquities also was replaced.Īnalysts said the CBE may have been conservative after the change of governor, even as Egypt's economy grew faster than expected in the 2021/22 fiscal year and inflation surged. A total of 13 ministries were affected, including health, education, culture, local development and irrigation.
His resignation came after key ministries were reshuffled on Saturday, a Cabinet shake-up approved by parliament in an emergency session. The president’s office offered no explanation for Amer’s resignation.Īmer had traditionally been seen as in the camp that supported the pound’s depreciation as a way to secure a new loan from the International Monetary Fund in order to address the growing budget deficit. On Wednesday, el-Sissi accepted Amer's resignation and named the outgoing governor a presidential adviser. In May 2021, he was appointed the chairman of United Media Services, a state-controlled media conglomerate. In a meeting with the new appointee, el-Sissi stressed the importance of upgrading the country's monetary policies to cope with global economic changes and to diversify Egypt's sources of foreign currency, the statement also said.Ībduallah, 62, had worked as a banker for almost four decades in Egypt until he became the CEO of the Arab African International Bank in 2004. The appointment still needs to be ratified by the state-controlled parliament, which is in recess until October. The project will have potential capacity to produce 6.5 percent of the UK’s North Sea gas.ĬAIRO: Egypt's president on Thursday appointed a caretaker governor of the central bank, the president's office said, a day after the bank's chief resigned amid a grinding economic crisis triggered by Russia's war on Ukraine.Īccording to a statement, President Abdel Fattah el-Sissi named Hassan Abdullah to succeed Tarek Amer, who had held the post since 2015. Also referred to as the Jackdaw, the natural gas field received the green light eight months after being blocked by the country’s regulator due to emission-related concerns. British publicly traded multinational oil and gas company Shell Plc is on track to develop a natural gas field in the UK’s North Sea, Bloomberg reported.Even though Buick sells relatively more vehicles a year in China, - around 800,000 vehicles per year compared to 200,000 in the US - it does not plan to go all electric in the Asian country just yet. has announced that it will transform all its Buick - division of the automobile manufacturer - models to electric by 2030, as it revamps the brand in the US, Bloomberg reported. American automotive manufacturer, General Motors Co.In addition to this, a new gas infrastructure - that is capable of being filled with green hydrogen after fossil gas phases out - must be planned in the near future. Germany’s usage of gas as a bridge energy toward renewable energy should be reached by 2030, Reuters reported, citing Economy Minister Robert Habeck.In the period between January and March, the European country used 114.8 million tons of coal equivalent, down from 117 million tons in the same months in 2021. This comes as a result of mild weather and increased fuel prices respectively. Germany’s energy usage during the first quarter slipped 1.9 percent when compared to the corresponding period a year earlier, Reuters reported, citing energy market research group AGEB.Additionally, Shell Plc is proceeding with the development of a natural gas field in the UK’s North Sea after receiving consent from the country’s regulator. plans to shift its Buick models to all-electric by 2030 as it revamps the brand in the US. RIYADH: On a macro level, Germany’s energy usage fell during the first quarter when compared to a year ago.
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