Latest Egypt News
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Egypts 2011 jailbreaks still a mystery carry potential embarrassment for Islamist leader
FILE - In this Wednesday, April 28, 2010 file photo, relatives of the 26 suspected Hezbollah members, accused of plotting attacks on tourists and shipping in the Suez Canal and sending operatives and explosives to Gaza to help militant groups there, waves to prison vehicles carrying them outside Emergency State Security Court in New Cairo, Egypt. It was one of the most perplexing events of ...
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2011 jail breaks become political issue in Egypt
CAIRO -- It was one of the most perplexing events of Egypt's revolution: orchestrated attacks on prisons around the country that broke out more than 20,000 inmates while police were tied down with the massive popular protests that swept autocrat Hosni Mubarak from power.The prison breaks added to the chaos during the 18-day uprising in 2011, and the flood of criminals onto the streets ...
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Sodic announces EGP6m net profits in Q1 2013
SODIC (Sixth of October Development &Investment Company) has released its consolidated financial results for the first quarter ending 31st of March ...
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Morsi appeals to opposition for unified Egypt in face increasingly popular rebellion petition
Egyptian President Mohamed Morsi appealed Wednesday to the opposition for unity, in the face of criticism he is failing the revolution that brought him to power almost a year ...
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Egypt boosts FX sale for imports as SP warns on inflation
Egypt’s central bank sold an unspecified amount of dollars after offering a record $800 million to local lenders at a currency auction to finance imports as Standard & Poor’s warned of accelerating inflation. The benchmark Eurobonds fell. The regulator, which normally offers $40 million at each auction, sold the U.S. currency at a weighted average of 6.972 pounds at its second ...
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Egypt factories hit by subsidy cuts highlight Cairo’s fiscal dilemma
AL-SAFF, Egypt: Hundreds of soot-stained factory chimneys dot the horizon in the industrial city of Al-Saff, south of Cairo, but only a few spew black smoke. Two years after the revolution that overthrew President Hosni Mubarak, Egyptian industry is struggling as political instability has scared off foreign investors and hit domestic confidence and the government has started slashing energy ...
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Talks help free 7 kidnapped Egyptian soldiers
CAIRO -- Seven soldiers kidnapped last week by suspected Islamist militants in the restive Sinai were freed after a six-hour negotiation between local tribesmen and the kidnappers, the Egyptian government announced on ...
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Mubarak talks for 1st time since detention
In his first comments to the media since he was detained more than two years ago, Egypt's former President Hosni Mubarak said he is dismayed at the country's state of affairs and particularly the plight of the poor. The 85-year old Mubarak spoke to Al-Watan newspaper after a session of his retrial for his role in the killing of hundreds of protesters during the popular uprising that ...
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Militants release Egyptian hostages
/enpproperty--> Seven members of the Egyptian security forces kidnapped by Islamist militants in Sinai last week were released on Wednesday, ending a crisis that has highlighted lawlessness in the desert peninsula bordering Israel. Security sources said the men were freed following talks mediated by Bedouin tribal leaders. They were handed over to the army in an area south of Rafah, a ...
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Egypts inflation rate to grow to 10.9 in 2013 IMF
(MENAFN) The International Monetary Fund (IMF) announced that it projects Egypt's inflation rate in 2013 to rise to 10.9 percent, up from an April forecast of 8.2 percent, reported Gulf News.Nevertheless, the rate is expected to reach 11.6 percent next year, down from April's forecast of 13.7 percent, as price pressures may be slightly lower than earlier estimates.The North African ...
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Egypt revising plan tied to $4.8b loan
(MENAFN - Khaleej Times)Egypt is reviewing its economic program as it seeks to complete long-delayed talks with the International Monetary Fund on a 4.8 billion loan, a senior IMF official said.Egypt's leaders are identifying "measures they are able to move forward with now," Masood Ahmed, head of the IMF's Middle East and Central Asia department, said in an interview in ...
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Tourist arrivals to Egypt up 11.8 in Jan-Apr
(MENAFN) The Egyptian cabinet announced that the country received around 4 million tourists between January and April, a rise of 11.8 percent from a year before, reported Arabian Business.In the period, tourism revenue jumped by 16.2 percent, reaching around USD3.4 billion.The country's tourism sector, which contributed with more than 10 percent to gross domestic product (GDP) before the ...
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Muslim Brotherhood Not Qualified to Run Egypt Says Former Member
Hossam Abdel Moniem, a former leading member of the Muslim Brotherhood, said that the leaders of the Egypt's ruling group are not qualified to rule the country, given that the members were once prevented from taking any executive position during the era of the Hosni Mubarak ...
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Egypt leader claims victory in captives release
This image made from video broadcast on Egyptian State Television shows members of the Egyptian security forces after their release by kidnappers, in Cairo, Egypt, Wednesday, May 22, 2013. Six Egyptian policemen and a border guard kidnapped by suspected militants in the volatile Sinai Peninsula last week were freed by their captors Wednesday after successful mediation, the country's ...
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Egyptian soldiers kidnapped in Sinai released after talks
CAIRO - Seven soldiers kidnapped last week by suspected Islamist militants in the restive Sinai were freed after a six-hour negotiation between local tribesmen and the kidnappers, the Egyptian government announcement Wednesday. The soldiers, who’d been held since Thursday, were taken to an air force base in Cairo, where they were greeted by Egyptian President Mohammed Morsi, who kissed ...
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Egypt to boost fuel supply to ease power shortages
CAIRO: The Egyptian government said on Wednesday it would supply more gas and diesel to power stations to deal with electricity shortages that have worsened in recent months after the cash-strapped country failed to import enough fuel. The government has set aside $200 million to finance the additional petroleum products and is in the process of approving an additional $525 million, the cabinet ...
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Egypt law cuts tax rates for low income earners
CAIRO--Egypt's president signed a new tax law Tuesday that cuts the amount paid by poorer Egyptians in the latest move aimed at reforming the country's ...
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Egyptian detainees meet families
Abu Dhabi, 22 May 2013 (WAM) - Seven of the Egyptian citizens detained in the UAE over a case related to security today met their family members who live in the UAE, Egyptian Ambassador Tamer Mansour said. Mansour said the families of other detainees were in Egypt. He praised the step taken by the UAE which, he said, has a great respect for Egypt and its people. "This step was ...
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Abducted Egyptian security personnel freed
Egyptian police who were seized in Sinai by kidnappers are seen upon their arrival at Almaza military Airbase in Cairo on May 22, 2013 following their release, as President Mohammed Morsi vowed to bring the perpetrators to justice and appealed to residents of the lawless peninsula to disarm. The conscripts, seized at gunpoint last week as they were returning from a leave of absence, arrived in ...
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EGX announces cancellation of 175.680 local deposit receipts of ODH
: EGX administration announced that it has received a release from Misr for Clearing, Depository and Central Registry (depositary bank) stating that: 1- Cancelling of 175.680 of Orascom Development Holding - ...
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Egyptian firm Maridive signs $150 mln Islamic loan
DUBAI, May 22 (Reuters) - Egyptian marine services firm Maridive and Oil Services has obtained a $150 million syndicated loan using an ijara (Islamic leasing) structure, the first of its kind in Egypt, the legal advisor on the deal said on Wednesday. The Maridive loan is considered one of the largest in the country's challenging banking sector, according to law firm Crowell & ...
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Trend hunter Egyptian biker brotherhoods take to the open road
Every Friday, Maadi's residents wake up to the cacophony of motorcycles scudding down the leafy streets of this affluent Cairo suburb. Friday is the day of protests against the government after a week of toil by those fortunate to have jobs in the sinking economy.But some youths, at least, appear to be doing all right.Mohamed Sami, astride an E80,000 ($12,000) bike, professes his love for ...
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Egypt court sentences four men to hang for killing priest
CAIRO (Reuters) - An Egyptian court sentenced four men on Wednesday to death by hanging for the 2011 killing of a Coptic Christian priest in his apartment in the southern city of Assiut, state news agency MENA ...
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Egypt kidnapped security personnel freed in Sinai
"The seven security personnel have been released by their kidnappers in Sinai," military spokesman Ahmed Aly said in a statement carried by the official MENA ...
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AfDB Launches New Information Highways
Following the launch in March 2013 of Open Data Platforms in 30 African countries, the African Development Bank (AfDB) has launched additional data platforms in the following 10 African countries: Burkina Faso, Burundi, Central African Republic, Chad, Gabon, Mali, Madagascar, Niger, Somalia, Sudan. This brings to forty (40) the number of African countries already connected to the Open Data ...
Cairo Discussed
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Cairo leading new wave in literature
The publishing industry in Cairo is undergoing a profound change that may have implications for the day-to-day life of Egyptians for years to come, it is a kind of revolution in literature that may one day put Cairo on the map, nestled among those other publishing powerhouses, New York, London, and Chicago primarily, but also regional publishing centers like Johannesburg, Mumbai, and Sydney.
Cairo is already a literature producing city, but it is more commonly associated with Arabic texts, and these pieces of literature are further associated with sweeping assessments of society, societal change, politics and religion on a macrocosmic level. Traditionally, there has also never been much of a local market for literature in Cairo or wider Egypt, leading to an old saying that books are written in Cairo, but published in Beirut and then read in Baghdad. Read more
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