Archaeologists have made a significant discovery in the South Asasif necropolis, located near the famed Temple of Hatshepsut on the West Bank of the Nile. A joint Egyptian-American mission unearthed an ancient tomb dating back to the Middle Kingdom (1938-1630 BC).

The tomb contains 11 sealed burials, including those of men, women, and children, suggesting it was a family tomb used over generations. While many of the wooden coffins and linen wrappings were damaged by floods, several artifacts, such as jewelry and copper mirrors, were found intact.
According to Egypt’s Tourism and Antiquities Ministry, the tomb appears to have served as a family burial site used across generations during the 12th and early 13th Dynasties. Mohamed Ismail Khaled, Secretary-General of the Supreme Council of Antiquities in Egypt, noted that the tomb housed coffins belonging to men, women, and children. While ancient floods have damaged many of the wooden coffins and linen wrappings, some artifacts remain remarkably well-preserved.
The discovery of this ancient tomb is a major milestone for Egyptian archaeologists and a testament to the rich history and cultural heritage of the region.
Egypt’s Ministry of Tourism and Antiquities is teaming up with Google to enhance the country’s digital tourism appeal. The collaboration aims to leverage digital technologies to promote Egypt as a vibrant and youthful destination.
The two parties will work together to create effective digital marketing campaigns targeting specific demographics and markets. The ministry and Google will utilize social media platforms to increase visibility and engagement with potential tourists. Google Street View technology will be used to create virtual tours of popular tourist destinations, providing immersive experiences for online users. Google will provide training to ministry staff to improve their digital skills and enhance their ability to promote Egypt effectively.
The partnership between Egypt and Google signifies a significant step forward in the country’s efforts to modernize its tourism industry and attract more international visitors.
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, is currently in Egypt to discuss the ongoing economic reform program and explore ways to further support the country.
Egypt secured a $8 billion loan program from the IMF in March 2023 to address its economic challenges, including high inflation and foreign currency shortages. The program is contingent on the implementation of various economic reforms, such as fuel subsidy cuts and tax increases.
During her visit, Georgieva will meet with Egyptian officials to assess the progress made on the reform program and discuss potential adjustments to the timeline and targets. The Egyptian government has expressed concerns about the impact of global economic conditions and regional geopolitical tensions on its economy.
Egypt’s Finance Minister, Ahmed Kouchouk , said on Sunday that Egypt hopes for constructive and positive talks with the International Monetary Fund (IMF) as it prepares for the fourth review of Egypt’s economic programme. Kouchouk was speaking at the close of the annual IMF/World Bank meetings which took place from 21-26 October in Washington. On completion of the fourth review, Egypt anticipates $1.3 billion of financing.
Cairo is also expected to host IMF Managing Director Kristalina Georgieva. Speaking during a press conference on October 24, she said she would visit Egypt in around 10 days to see for herself what is happening in the country and “look into the support of the Fund from the perspective of what is best for the Egypt”.
The IMF’s recent Regional Economic Outlook report for the Middle East and Central Asia forecasts a decline in Egypt’s inflation rate to 16% by June 2025. However, the report also highlights challenges such as investor confidence, foreign exchange shortages, and geopolitical tensions that could hinder economic growth.
As Egypt continues its economic reform efforts, the IMF’s support and guidance will be crucial in ensuring the country’s long-term economic stability and prosperity.
UN-Habitat Announces Focus on Local Solutions at World Urban Forum 12 in Cairo
The United Nations Human Settlements Programme (UN-Habitat) held a virtual press conference to unveil the key themes and objectives for the upcoming World Urban Forum (WUF12). The event, taking place from November 4-8, 2024, in Cairo, Egypt, will gather over 20,000 participants from 179 countries to address the pressing issue of sustainable urbanization.
WUF12: Local Actions, Global Impact
WUF12 marks a historic return of the forum to Africa for the first time since 2001. This year’s forum carries the theme “It all starts at home: Local actions for sustainable cities and communities.” The focus is on empowering local governments, communities, and stakeholders to develop and implement solutions for the global challenges facing urban centers.
WUF12’s Instrumental Role:
Executive Director of UN-Habitat, Anacláudia Rossbach, underscored the importance of the Forum to address global challenges: “It is a critical moment to illustrate solutions and alternatives on how to overcome global challenges, but also to identify trends. It is also a great moment to promote the exchange of experiences and build critical mass as well as a common understanding of the challenges we face, and to understand what the role of cities and UN-Habitat is in addressing these global challenges.”
Assistant Minister of Housing for Technical Affairs, Abdelkhalek Ibrahim, provided an overview of the importance of WUF12 and collaboration for Egypt and Cairo: “Cairo faces a number of urban development challenges affecting the sustainability of the city. We need to have a vision. That vision is putting people at the centre and improving the quality of life and built environment. Collaboration with international stakeholders for integrated knowledge transfer is vital, and involvement by the local community is important to raise awareness of challenges.”
The conference also spotlighted the upcoming Cairo Urban Week, an initiative designed to engage local communities ahead of WUF12. “Cairo Urban Week has been planned and designed to build momentum for the World Urban Forum, and in a way that can help us leverage the experience, bringing different stakeholders, experts, policymakers and local communities and will help us showcase and discuss matters related to innovative urban solutions.”Ahmed Rezk, Director of the UN-Habitat Egypt Office, remarked.
Discussions at WUF12 will centre around crucial topics such as the global housing crisis, climate resilience, financing sustainable development, partnerships, people and technology, and the loss of home, notably through high-level discussions that will include ministers, mayors, and experts focusing on local solutions that can drive global change.
Int’l Min. Discusses Unveils Egypt’s New Economic Development Framework with Global Partners
Egypt’s Minister of Planning, Rania Al-Mashat, unveiled a new operational framework for economic development on Friday. The framework aims to streamline planning, development, and international cooperation to achieve sustainable growth.
The announcement came during a meeting with AbdulHakim ElWaer of the FAO, Cristina Albertin from UNODC, and various other representatives from organizations like UNICEF, WHO, Islamic Development Bank, World Bank, and UN Women.
Al-Mashat emphasized the importance of data-driven policymaking, highlighting the provisions of the new Planning Law of 2022. She outlined the government’s public investment governance strategy, which allocates significant funds to human and social development, industrial development and infrastructure, and local development.
The minister also discussed an integrated national development financing strategy, developed in collaboration with the UN, which focuses on priority sectors like social protection, education, health, and climate change.
The gathering, which included UN Resident Coordinator Elena Panova and representatives from around 20 UN agencies, as well as key figures from the World Bank and the Islamic Development Bank, focused on reviewing the framework, governance of investment expenditure, and future priorities to enhance economic development efforts.
Egypt Advances its Environmental Agenda Towards Sustainable and Biodiverse Future
Egypt is among the first countries that have applied the nature-based solutions (NbS) in the North Coast and Nile Delta, in seven governorates. This came in parallel to launching a new discussion paper by the global ENACT Partnership at United Nations Biodiversity Conference (COP16), according to Ministry of Environment’s statement on Thursday.
Egypt’s Prime Minister, Mostafa Madbouly ,inspected several key projects spearheaded by the Urban Development Fund (UDF) on Saturday, reaffirming the government’s commitment to transforming informal settlements into thriving service areas. This initiative aligns with President Abdel Fattah Al-Sisi’s vision for urban development and social upliftment.
During his visit on Saturday, Madbouly toured the construction site of the “Craft Workshops” and “Alternative Housing” complex located in the North Craftsmen area of Al-Duwayqa, Cairo. Accompanied by Cairo Governor Ibrahim Saber and Urban Development Fund Chairperson Khaled Siddiq, the Prime Minister highlighted the project’s strategic importance in enhancing local infrastructure and services for residents.
Siddiq detailed the project’s dual-phase approach, with the first phase, which spans 42 of the total 62 acres, already 80% complete since its commencement in August 2022. This initial phase features 15 residential buildings, each standing nine stories high, collectively offering 600 units of alternative housing, with each unit measuring 90 square meters. During the inspection, Madbouly assessed the quality of the construction, focusing on both interior and exterior finishes.
As the tour continued, Siddiq elaborated on the “Craft Workshops Complex,” which has been expanded to include two floors across four zones (A, B, C, and D), increasing the number of workshops from an initial 534 to 782. Zone B alone will house 254 workshops and a service building, while Zones C and D will contain 170 and 160 workshops respectively, each accompanied by dedicated service buildings. The complex will also include facilities such as a church with a capacity for 350 attendees, a vocational school with 24 classrooms and five laboratories, and a community support center.
In addition, the first phase will integrate three wholesale market facilities and establish a medium- and low-voltage electricity network to support these developments.
With these initiatives, the Egyptian government is taking proactive steps to foster urban development, enhance community services, and ultimately improve the quality of life for residents in informal settlements.
Fitch Ratings’ recently upgraded Egypt’s long-term foreign-currency Issuer Default Rating (IDR) to ‘B’ with a stable outlook. This decision was primarily driven by a significant boost in foreign exchange reserves, fueled by the substantial Ras El-Hekma investment and increased support from Gulf Cooperation Council (GCC) partners.
Positive Outlook for the Future:
Fitch anticipates sustained economic growth, driven by increased FDI, remittances, and rising consumer confidence. The projected decline in government debt and inflation, coupled with a gradual recovery in Suez Canal revenues, further bolster the country’s economic outlook.
Challenges and Risks:
While the outlook appears promising, Egypt still faces challenges, including a high debt burden and potential external shocks. Maintaining exchange rate flexibility and prudent fiscal policies will be crucial to sustaining the positive momentum.
As Egypt continues to implement economic reforms and attract foreign investment, the country’s economic trajectory is poised for further improvement. The Fitch upgrade is a significant milestone, signaling renewed investor confidence and a brighter future for the Egyptian economy.