Latest Egypt News
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Paid for the risk Egypts tempting pound
Surprising as it may seem, the Egyptian pound has got some fans. The currency has languished for months at record lows against the dollar and the headlines arealarming the lack of an IMF aid programme, meagre hard currency reserves, political upheaval. So what's to like ? Analysts at Societe Generale say thatjust looking at the spot exchangerate of the pound is missing the bigger picture. ...
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Egypt manages through the bottleneck 2nd currency auction succeeds
It did not say how much currency it actually sold Egypt's central bank kept the price of the country's currency steady against the dollar at a special $800 million foreign exchange auction on Wednesday, called to help importers pay for wheat, meat, cooking oil and other essential imports.It did not say how much currency it actually sold.Egypt has used up its foreign currency reserves, ...
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Nations Mursi Calls On People of Sinai to Hand Over Weapons
Egyptian President Mohamed Mursi urged everyone who has weapons in the Sinai Peninsula to hand them over on Wednesday, saying that only the authorities should be armed. He said, "Only the armed forces and the interior ministry should have weapons as stipulated by law." Mursi held a press conference today at Almaza Cairo Airport shortly after receiving the released security personnel ...
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ECOWAS Partners Have Made Irreversible Progress in Mali
Abuja - Nigeria - ECOWAS and the international community have made irreversible progress in Mali by freeing the north of the country from the grip of terrorists and securing its territorial integrity, the President of the ECOWAS Commission, His Excellency Kadre Desire Ouedraogo has affirmed. Speaking at an interactive session between management and staff of the Commission in Abuja on Friday ...
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ECOWAS Sympathizes With Nigeria Over Pilots Death
Abuja - Nigeria - The President of the ECOWAS Commission, His Excellency Kadre Desire Ouedraogo has sent a condolence message to Nigeria's President Dr. Goodluck Ebele Jonathan over the death of two Nigerian Air Force fighter-jet pilots who died while providing support to the African-led International Support Mission in Mali (AFISMA). "The death of the gallant officers is no doubt a ...
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Syrians seeking refuge in Libya
UNHCR deliver aid to Syrian refugees in Misrata, Libya MISRATA, 23 May 2013 (IRIN) - Two years ago Syrians in the relative security of their own country watched the unfolding crisis in Libya descend into a devastating civil war. Since then the tables have turned, and many of those same families find themselves in Libya after fleeing the Syrian conflict, which has left an estimated 6.8 million ...
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26 May Listing South Valley Cement shares after reducing capital
) from LE 2.463.292.315 to LE 2.433.367.315, through executing 6.025.000 treasury stocks. Noting that, the company's issued capital after reduction process will be LE 2.433.367.315, distributed over 486.673.463 shares at a nominal value of LE 5 per share (representing the 7th issue). 2- Shares will be available for trading effective on Sunday 26/05/2013 trading ...
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Regional Defence Chiefs Charged On Successful Transformation of Afisma Into UN Mission in Mali
Abidjan - Cote d'Ivoire - Cote d'Ivoire's Minister in Charge of Defence in the Office of the President, Mr. Paul Koffi Koffi Has Urged Regional Chiefs of Defence Staff to Make Recommendations for the Seamless Transformation of the African-Led International Support Force in Mali (afisma) Into a UN Mission By July 2013 in Line With the UN Security Council Resolution 2100 of 25th ...
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Improving industrial energy efficiency to promote economic growth USAID
- The U.S. Government, in collaboration with the Egyptian Industrial Development Authority, the Egyptian National Cleaner Production Center, and the World Environment Center, has launched a pilot project that helps small and medium-sized food processing firms to conserve energy resources and increase their use of cleaner forms of energy while improving the sustainability and competitiveness of ...
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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 ...
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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