Latest Egypt News
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New Egypt tax law cuts for poor business hikes
CAIRO -; Egypt's president has signed a new tax law that cuts the amount paid by poorer Egyptians while increasing taxes on small and medium-sized ...
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Egypts rebels protest Morsi
An Egyptian activist covers her face with the petition for "Tamarod," Arabic for "rebel," a campaign calling for 15 million signatures expressing "no confidence" in Egyptian President Mohammed Morsi and calling for early presidential elections, during a protest in Tahrir Square in Cairo on May ...
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Egypts army blocks roads in Sinai in hunt for kidnappers
CAIRO (Reuters) - Egypt's army and police stepped up roadblocks in an area of northern Sinai as they tried to track down militant Islamists who kidnapped seven security officers last week, a security source said on ...
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Clashes between Egypt troops and gunmen in Sinai
An Egyptian Army vehicle with a tank heads to the closed Rafah border crossing between Egypt and the Gaza strip, in Sheikh Zuweyid, northern Sinai, Egypt, Monday, May 20, 2013. Security officials said 17 military and more than 20 police armored vehicles were deployed in northern Sinai Monday as a response to the kidnapping by suspected militants of six policemen and a border guard there last ...
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HDB to waive HydePark stake after signing settlement with Damac
) announced that CEO & Managing Director of the bank signed on Monday settlement contract with Damac Properties after Prime Minister's approval. The banks added, in a release sent to EGX that, as per terms of the deal Damac will waive its stake in HydePark Development amounting to 17.9 % to New Urban Communities Authority (NUCA). It added that, CEO signed the deal which includes ...
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IMF says Egypt budget gap worrying urges Yemen to finalise economic programme
View Photo Reuters/Reuters - A photographer takes pictures through a glass carrying the International Monetary Fund (IMF) logo during a news conference in Bucharest March 25, 2009. REUTERS/Bogdan ...
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Military Operation in Sinai Is Political - Army Source
A former army commander has described the decision to launch a military operation in Sinai as "political", explaining that the decision was made by the army in response to the inaction of the authorities. In an interview on a satellite channel on Monday evening, Tayseer al-Tobgy accused President Mohamed Mursi's Muslim Brotherhood of attempting to set the army up for war with ...
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Rebel Movement Says Lawsuits Show Brotherhood Fear
Tamarod, a rebellion campaign whose aim is to collect 15 million signatures on a petition against President Mohamed Mursi, said on Tuesday that the lawsuits against it show that the Muslim Brotherhood fears it. Egypt's chief prosecutor has ordered the state security prosecution to begin an investigation in a lawsuit that accuses a satellite channel, some journalists and three Tamarod ...
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U.S. State Department Daily Press Briefing Egypt
MR. VENTRELL: Good afternoon. I've got a couple things for you all at the top, and then I will turn it over to all of you. First of all, on Egypt, we are deeply concerned by the growing trend of efforts to punish and deter political expression in Egypt. Numerous individuals, including journalists, bloggers and activists have been detained, and some are being charged and put on trial for ...
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More troops arrive in Egypts Sinai over hostages
An Egyptian Army vehicle with a tank heads to the closed Rafah border crossing between Egypt and the Gaza strip, in Sheikh Zuweyid, northern Sinai, Egypt, Monday, May 20, 2013. Security officials said 17 military and more than 20 police armored vehicles were deployed in northern Sinai Monday as a response to the kidnapping by suspected militants of six policemen and a border guard there last ...
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African Development Bank to host Innovative Financing Seminar on Infrastructure and Diaspora bonds
AfDB's annual meetings in Morocco on May 29, 2013. One of the main objectives of the seminar to be at held at the Palmeraie Golf Palace in Marrakech, themed "Financing African Structural Change - Infrastructure and Diaspora Bonds" is to raise awareness of all stakeholders in the role that infrastructure and diaspora bonds can play in catalyzing financing to address the existing ...
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Liquidation claim is subject to privatization annulment Simo
) announced that claim filed by Ahmed Diaa ElDin Hussien, owns and his related parties 67 % of Simo, to liquidate the company was suspended until State Council decide on the claim of annulling privatization and selling the ...
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Egypt’s Dollar Black Market Premium Falls Amid Pound Decline
Egypt 's unofficial currency market is falling as the pound goes through what JPMorgan Asset Management called "non-chaotic maximum devaluation." The U.S. currency is selling for 7.47 Egyptian pounds in the Arab country's so-called black market, a 7 percent premium to the official price, according to the average of three quotes from Cairo money exchangers compiled by ...
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Egypt students protest keosene smell in beans
Dozens of students at Al-Azhar University in Egypt said that they smelled kerosene in beans served for dinner in the school's dormitories The students protested Monday after dinner, Ahram Online reported. An official from the university said initial tests didn't indicate any contamination and that the smell may have come from the gas stove on which the beans were cooked. The ...
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Local NGO Offers Legal Support for Female Victims of Violence
An Egyptian non-governmental organization has filed 50 lawsuits in support of female victims of violence. The Cairo Center for Development and Human Rights said in a statement on Monday that the lawsuits included 42 under domestic violence, seven under sexual harassment and only one under discrimination in the workplace. A court has so far ruled in favor of the workplace-related lawsuit while ...
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Prosecutor Puts Hamdeen Sabahis Daughter On Travel Ban List
Egypt's general prosecutor has decided to put the daughter of former presidential candidate and opposition leader Hamdeen Sabahi on a travel ban list. Salma Sabahi, who has been accused of internet marketing fraud, was released on EGP 30,000 bail last week, but arrested again when more legal complaints against her arrived. Sabahi has pleaded not guilty to all the charges filed against ...
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Cross River State Rural Access and Mobility Project in Nigeria
Cross River State has an enviable history in Nigeria, yet until 2008, most rural roads were in poor, impassable conditions. They had a negative impact on the local economy, especially agricultural activities, with poor rural roads resulting in exorbitant vehicle operating costs and unquantifiable travel times. The situation was worse still in far-flung villages where logs of fallen trees often ...
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AfDB Project Integrates Nomadic Peoples into Mainstream Education in Nigeria
Spanning at least 20 different countries across the African continent, nomadic peoples constitute about six per cent of the total African population, or some 50 million people. This large population, categorized into three major groups, as pastoralists, migrant fishing folks and farmers, has a common wandering lifestyle. Shrinking grazing lands, constant blocking of grazing paths, increasing ...
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Money Market Funds achieve return of 10.53 during Q113 Hermes
), the leading investment bank in the Arab world, is named "Best MENA Asset Manager of the Year" with a total of five wins on the 2012 Zawya MENA Funds Ranking Awards, including three first place finishes for Egypt-based funds and one for a Qatari fund. The recognition underscores the division's continued ability to innovate and outperform the market despite challenging ...
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NGOs Warn of Short-Term Resolutions in Sinai
Egyptian human rights organizations issued a statement on Monday, warning the authorities against "taking the usual route of short-term security resolutions in addressing the crisis of the kidnapped security officers in Sinai." The non-governmental organizations (NGOs) called on the government to address the roots of this crisis through responding to the demands of putting an end to ...
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IMF again raises Egypt inflation forecast to 3-year high
The International Monetary Fund Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April."Inflation is expected to rise in Egypt, Jordan, Morocco, and Tunisia, reflecting recent and planned subsidy cuts and, in some cases, pressure from monetization of fiscal deficits and ...
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Barclays Bank Egypt FY2012 profit after tax up 301
- Barclays Bank Egypt announced its financial results for the year ended 31 December 2012 where profit after tax grew to reach EGP 368m, 301% ahead of same period in 2011. Despite the challenging economic and political situation, profits increased, driven by robust performance across all lines and segments. "The largest contributor to our improved profitability is growth of 31% on net ...
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Number of German tourists in Egypt exceed 2010 rates
- The numbers of German tourists visiting Egypt in March and April of this year was higher than the same period in 2010, Minister of Tourism Hisham Zaazou stated on Monday. A total of 226,000 German tourists visited the country in the last two months, a two percent rise on the figures for March and April 2010, which was considered a year of flourishing tourism, said the minister. In 2010, an ...
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Egypts anti-Morsi rebels gather millions of signatures
An Egyptian activist covers her face with the petition for "Tamarod," Arabic for "rebel," a campaign calling for 15 million signatures expressing "no confidence" in Egyptian President Mohammed Morsi and calling for early presidential elections, during a protest in Tahrir Square in Cairo on May ...
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Nation to Hold Press Conference On Kidnapped Soldiers
The Egyptian presidency will hold a press conference on Monday to comment on the kidnapped security officers in the Sinai Peninsula, reported a satellite channel. The conference will notify the public of the latest developments and the steps which are being taken by the authorities to release the kidnapped soldiers. President Mohamed Mursi has vowed to consider all options to free the hostages ...
Egypt Digest
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Egypt's oil industry is growing rapidly
Egypt has, in recent years, made immense gains in terms of economic performance. The country has long been the economic powerhouse of North Africa and Africa in general (second only to South Africa and Nigeria) and has taken great steps to reverse the highly-centralized economy inherited from President Gamel Abdel Nasser.
The oil and gas sector has long been one of the major strengths in the Egyptian economy, along with other natural resources such as minerals, gold and natural gas. Read more
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