Monday 21 August 2017

Egypte

(Independent Online 08/21/17)
In the latest sign the administration of US President Donald Trump is looking to overturn Obama-era policy at home and abroad, the US military is preparing to restart a long-running military exercise with Egypt after former US president Barack Obama cancelled it in 2013 to protest against the killing of hundreds of protesters in Cairo. The restart next month of the biannual Bright Star exercise, a bilateral effort now focused on counter terrorism operations, comes as Egypt seeks to contain a insurgency on the Sinai peninsula. Though Egypt may invite other countries such as Sudan as observers, only US and Egyptian forces will take the field, US defence officials said. The renewal comes just months...
(Xinhuanet 08/21/17)
Egyptian President Abdel-Fattah al-Sisi said that Egypt is ready to provide Somalia with all possible support to help it build its state institutions. Sisi's comments came during his meeting in Cairo with visiting Somali President Mohamed Abdullahi Mohamed, state-run MENA news agency reported. Talks between the two presidents focused on ways to boost bilateral relations in all fields, as well as the latest security developments in Somalia. Egypt is keen on activating all aspects of cooperation with Somalia, particularly in the economic and trading fields, Sisi said. Mohamed, for his part, praised the historic role played by Egypt in support of Somalia in the past. He also urged Sisi to give a push to trade and economic ties between the...
(Xinhuanet 08/21/17)
Egypt and Russia have vowed to boost bilateral ties and deepen coordination on regional and international issues, state-run news agency MENA reported on Monday. Egyptian Foreign Minister Sameh Shoukri started on Monday a session of talks with his Russian counterpart Sergei Lavrov in Moscow on boosting bilateral relations and coordination on a host of regional and international issues, topped by countering terrorism. Shoukry's visit to Moscow falls within the framework of strategic ties and the "2+2 strategic dialogue" between foreign...
(Reuters (Eng) 08/21/17)
Palestinian Foreign Minister Riyad Al-Maliki on Saturday welcomed Egypt's closer ties with Hamas, calling on the Islamist group to bring an end to the rift between the Palestinian factions. Speaking at a joint press conference with his Jordanian and Egyptian counterparts in Cairo, Al-Maliki said Egypt was fulfilling its role as a mediator between the group and the Palestinian Authority. "It is not new or controversial for Egypt to do its part and fulfill its mandate in these negotiations .....
(Bloomberg 08/21/17)
Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub. Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent stake, and pump it to a liquefied natural gas plant in Egypt, according to people with knowledge of the matter. Talks are...
(The Independent 08/21/17)
Egyptian President Abdul Fatah Al-Sisi, who recently, completed a four-country tour of Africa, was in Kigali, Rwanda on Aug.15 and held bilateral talks with President Paul Kagame. One of the top issues on Al-Sisi’s agenda is the issue of the River Nile Basin and Egypt’s historic share of the Nile waters. His visit comes amid diplomatic tensions between Egypt and Ethiopia after the beginning of construction of the GERD dam in April 2011. Egypt has expressed concerns that the dam...
(AFP (eng) 08/18/17)
Egypt has blocked access to the website of media watchdog Reporters Without Borders, adding RSF to a growing list of restricted online sites in the North African country. The Paris-based group said Thursday its website was blocked on August 14, shortly after it had issued a statement condemning the ongoing detention of an Egyptian photojournalist. Egypt has blocked more than 100 websites since May, including media sites seen as critical of the government. Rights groups have repeatedly accused former army chief and now President Abdel Fattah al-Sisi of stifling dissent. In the 2017 press freedom index published by MSF
(Andalou Agency 08/18/17)
Egypt fears Ethiopia’s Grand Renaissance Dam will diminish its historical quota of Nile water. Sudanese President Omar al-Bashir on Thursday vowed to prevent any reduction of Egypt’s historical share of Nile water due to Ethiopia’s construction of a massive hydro-electric dam on the Blue Nile River. At a joint press conference held in Khartoum with Ethiopian Prime Minister Hailemariam Desalegn, al-Bashir reiterated his country’s longstanding commitment to a 1959 water-sharing agreement between upstream and downstream states. “Sudan is totally committed...
(The Guardian 08/18/17)
Transparency campaigners highlight alleged human rights abuses in Egypt as controversial conflict, stability and security fund comes under scrutiny again. The government is facing questions over transparency after almost £2 million in aid and defence funding was given to security projects in Egypt, including support for policing, the criminal justice system and the treatment of juvenile detainees. The news comes with Egypt’s security forces under fire from human rights groups for routine disappearances, the torture of detainees, and the jailing...
(News24 08/18/17)
Sudan's President Omar al-Bashir said on Thursday that the construction of Ethiopia's controversial Grand Renaissance Dam on the Nile River would not impact water supplies to Egypt as feared by Cairo. Visiting Ethiopian Prime Minister Hailemariam Desalegn, for his part, said the project was a "win-win" for the peoples of all three countries if it was not politicised. Construction of the massive dam on the Blue Nile in Ethiopia has poisoned relations between Cairo and Addis Ababa, with Egypt fearing...
(The Associated Press 08/18/17)
Egypt has blocked internet access to the website of an international media watchdog that provides support for journalists and champions media freedoms. Reporters Without Borders, also known under its French acronym RSF, said on Thursday that users in Egypt have been unable to access its website since August 14. RSF called on Egyptian authorities to provide an explanation as to the reason for the block. An Egyptian watchdog, The Association for Freedom of Thought and Expression, says that at least...
(Reuters (Eng) 08/18/17)
GB Auto, the Egyptian automotive assembler and manufacturer, expects demand for cars to pick up by the end of 2017 as dealers run down inventories, the company's CEO said on Thursday. Consumer demand in Egypt took a hit in November last year, when the central bank floated the pound currency to secure a three-year $12 billion International Monetary Fund loan, a move which more than halved the value of the currency. The IMF programme is tied to reforms such as...
(Reuters (Eng) 08/17/17)
Egypt's cabinet passed regulations on Thursday for a new investment law aimed at attracting foreign investors to help the economy recover after a 2011 uprising. Investment Minister Sahar Nasr said the law will now be passed to Egypt's administrative court, the state council, which is expected to give a final legal review before the law enters into force. The law aims to cut bureaucracy, especially for starting projects, and provide more incentives to investors looking to put money into Egypt...
(AFP (eng) 08/17/17)
Sudan's President Omar al-Bashir said Thursday that the construction of Ethiopia's controversial Grand Renaissance Dam on the Nile River would not impact water supplies to Egypt as feared by Cairo. Visiting Ethiopian Prime Minister Hailemariam Desalegn, for his part, said the project was a "win-win" for the peoples of all three countries if it was not politicised. Construction of the massive dam on the Blue Nile in Ethiopia has poisoned relations between Cairo and Addis Ababa, with Egypt fearing its share of water from the Nile will be hit once the project is completed...
(Egypt Independent 08/17/17)
Egypt’s central bank is seen leaving key interest rates unchanged this month, a Reuters poll indicated on Tuesday, after it raised them by 200 basis points last month for the second time in a row as inflation soared. Egypt has raised key interest rates by 7 percentage points since it floated the pound in November as part of a $12 billionInternational Monetary Fund programme aimed at boosting the economy. “I expect no change given that the CBE has already hiked...
(Egyptian Streets 08/17/17)
Egypt’s Minister of Investment and International Cooperation (MIIC) Sahar Nasr to meet with a delegation from the World Bank on Sunday to discuss final procedures before giving Egypt the final $US 1 billion tranche of a $US 3 billion loan. According to Nasr, the loan is to finance the social and economic development projects. The Regional Director of the International Bank in Egypt Assad Allam and Nasr have met to follow on the progress of the development projects in Upper...
(Reuters (Eng) 08/17/17)
Egypt's first bitcoin exchange will go live later this month, the founders of Bitcoin Egypt said, linking the Middle East's most populous country with a cryptocurrency that has surged in value in recent months. Many governments around the world are still mulling how to regulate and classify bitcoin, a volatile digital currency that has captured the interest of speculative investors worldwide as its value has soared, roughly quadrupling since the start of 2017 and trading at around $4,400 on Thursday...
(Fox News 08/17/17)
Experts have unearthed three tombs that date back 2,000 years at the site of an ancient city in the Nile Valley. Egypt's antiquities ministry said that archaeologists discovered the tombs from the Ptolemaic Period. The discovery was made in the province of Minya, south of Cairo, in an area known as al-Kamin al-Sahrawi. In a August 15 Facebook post, the ministry explained that excavators unearthed a collection of sarcophagi of different shapes and sizes as well as clay fragments that...
(Egyptian Streets 08/17/17)
Egypt’s Al-Azhar criticized the recent calls for equality between men and women in inheritance issues and said that it doesn’t comply with Islamic teachings. Al-Azhar made the announcement in response to the calls of the Tunisian President Beji Caid Essebsi to establish equality between men and women in terms of inheritance. While the announcement of Al-Azhar didn’t directly address Essebsi, it was made a few days after his suggestion to form a committee to study the matter. Deputy of Al-Azhar...
(Egypt Independent 08/17/17)
President Abdel Fattah Al-Sisi issued a presidential decree, on Thursday, that allowed Emir [Ruler] of Kuwait, Sheikh Sabah Ahmad Al-Jaber Al-Sabah, the right to own land and property in the Sharqia Governorate of Egypt’s. The announcement stipulated that Al-Sabah is considered an Egyptian citizen, who has the right to own land and properties in Egypt; moreover the decree mentioned that Al-Sabah bought 163 acres in Sharqia, according the state’s official gazette In October 2016 Sisi issued similar presidential decree that...

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(AFP (eng) 08/18/17)
Egypt has blocked access to the website of media watchdog Reporters Without Borders, adding RSF to a growing list of restricted online sites in the North African country. The Paris-based group said Thursday its website was blocked on August 14, shortly after it had issued a statement condemning the ongoing detention of an Egyptian photojournalist. Egypt has blocked more than 100 websites since May, including media sites seen as critical of the government. Rights groups have repeatedly accused former army chief and now President Abdel Fattah al-Sisi of stifling dissent. In the 2017 press freedom index published by MSF
(The Guardian 08/18/17)
Transparency campaigners highlight alleged human rights abuses in Egypt as controversial conflict, stability and security fund comes under scrutiny again. The government is facing questions over transparency after almost £2 million in aid and defence funding was given to security projects in Egypt, including support for policing, the criminal justice system and the treatment of juvenile detainees. The news comes with Egypt’s security forces under fire from human rights groups for routine disappearances, the torture of detainees, and the jailing of political opponents and journalists. Documents obtained under the Freedom of Information Act reveal the cash was granted to the Egyptian authorities through the conflict, stability and security fund (CSSF), the operations, objectives and achievement of which were described as...
(The Associated Press 08/18/17)
Egypt has blocked internet access to the website of an international media watchdog that provides support for journalists and champions media freedoms. Reporters Without Borders, also known under its French acronym RSF, said on Thursday that users in Egypt have been unable to access its website since August 14. RSF called on Egyptian authorities to provide an explanation as to the reason for the block. An Egyptian watchdog, The Association for Freedom of Thought and Expression, says that at least...
(Egyptian Streets 08/17/17)
Egypt’s Al-Azhar criticized the recent calls for equality between men and women in inheritance issues and said that it doesn’t comply with Islamic teachings. Al-Azhar made the announcement in response to the calls of the Tunisian President Beji Caid Essebsi to establish equality between men and women in terms of inheritance. While the announcement of Al-Azhar didn’t directly address Essebsi, it was made a few days after his suggestion to form a committee to study the matter. Deputy of Al-Azhar...
(Ahram Online 08/16/17)
Egypt will open the border crossing with the Gaza Strip in both directions for two days starting Wednesday, the Palestinian interior ministry said on its official website on Tuesday. The Rafah crossing will be open in both directions for the first time in almost six months. Since March, the crossing has only been opened occasionally, to allow Palestinians stranded outside Gaza to return home. The crossing in the border Sinai Peninsula is the major gateway to the outside world for...
(Reuters (Eng) 08/16/17)
Two Egyptian policemen were killed in separate attacks in North Sinai province on Tuesday, security sources said. Unknown gunmen fired shots at a policeman in North Sinai's capital city of Arish before fleeing, a source told Reuters, adding the policeman's body had been transferred to a military hospital. The other policeman was killed in a similar attack in the same city, another security source said. Attacks on Egyptian security forces have been common since the military led by general-turned-President Abdel...
(Reuters (Eng) 08/16/17)
Egypt's unemployment rate dipped below 12 percent in the second quarter, the first time it has been that low since the political uprising of 2011. Nearly 80 percent of those unemployed were young, however. Official statistics agency CAPMAS said on Tuesday the rate dipped to 11.98 percent from 12 percent the previous quarter. This was slightly higher than expected by government. Finance Minister Amr El Garhy told Reuters in May he expected the rate to reach 11.7-11.8 percent by the...
(NPR 08/16/17)
On Egypt's Mediterranean coast, August should be prime tourist season. But the seaside restaurants in Alexandria are almost empty. Worries over security are keeping a lot of foreign tourists away. But there's a much bigger worry looming: that hotter weather and a disappearing shoreline could make Egypt's prospects even worse. Scientists generally agree that human-made climate change – the effect of greenhouse gas emissions from things like cars and factories – is making the sea level higher and its waters...
(AL Jazeera 08/16/17)
The murder of Italian graduate student Giulio Regeni led the Italian government to recall its envoy in April 2016. Italy said on Monday it would return its ambassador to Cairo more than a year after the murder of an Italian graduate student led the Rome government to recall its previous envoy. Giulio Regeni was 28 years old when he vanished from the streets of Cairo in January 2016. His body was discovered in a ditch on the outskirts of the...
(Xinhuanet 08/14/17)
Head of Egyptian Transport Association (ETA) Mohammed Shehata said on Sunday that China can be a main player in developing Egypt's railway system. "China is a leading country in this field," Shehata told Xinhua, adding that China is always ready to help friendly countries improve their infrastructure. The ETA is a leading Egyptian NGO that monitors and issues reports on the transportation systems in the North African country. The NGO chief said that China has been helping many countries, mainly...
(AL Jazeera 08/14/17)
Detention of Al Jazeera journalist renewed for seventh time since he was arrested on December 20. An Egyptian court has extended the detention, without charge, of Al Jazeera journalist Mahmoud Hussein for another 45 days. Egyptian authorities announced the seventh extension on Thursday since Hussein was arrested in December last year. Hussein, an Egyptian national based in Qatar, was stopped, questioned and arrested by authorities on December 20, after travelling to Cairo for a holiday. Five days after his initial...
(Bloomberg 08/14/17)
The U.S. will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man. Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest countries in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump administration will go ahead...
(BBC News Africa 08/12/17)
Two passenger trains have collided in northern Egypt, killing at least 41 people and injuring more than 120 others, health officials say. A number of carriage were derailed by the accident in the coastal city of Alexandria. Reports said one of the trains had been brought to a halt after a malfunction. Transport Minister Hisham Arafat blamed "human error". Deadly train accidents in Egypt are rare but not unheard of. The trains, one travelling from the capital Cairo and the other from Port Said, crashed at about 14:15 local time (12:15 GMT). One resident, Hoda, was standing on her rooftop when she saw the trains crash.
(AFP (eng) 08/11/17)
At least 36 people were killed as two trains collided Friday outside the Mediterranean city of Alexandria, in one of the deadliest in a string of such accidents in Egypt, the health ministry said. The crash also injured 123 people, the ministry said in a statement. Footage on the state broadcaster showed one train had partly keeled over in the crash, and medics were seen moving the dead and injured to ambulances.
(Xinhuanet 08/11/17)
At least 21 people were killed and more than 50 others were injured Friday in a crash between two trains in Egypt's Alexandria province, Egypt's state TV reported. An Alexandria-bound train coming from Cairo crashed into the rear of another train on its way from Port Said to Alexandria, leaving dozens killed and injured, the TV reported. Ambulances evacuated over 58 wounded passengers, while prosecution ordered an urgent investigation into the accident.
(AFP (eng) 08/10/17)
Egypt's interior ministry said on Thursday a policeman and three jihadists suspected of involvement in deadly attacks against the country's Coptic Christian minority were killed in a shootout. Police had arrested one member of the cell who led them to their mountain hideout in the southern province of Qena where the two other jihadists opened fire on Tuesday, the ministry said. The two suspects, who have not been identified, were killed in the ensuing firefight, along with the informer and a police officer guarding him.
(Egyptian Streets 08/10/17)
Egypt received on Tuesday the second type 209/1400 military submarine from Germany in the German city of Kiel, according to a statement by Egypt’s military spokesperson. The agreement between Egypt and Germany to receive the German submarine was signed in December 2011 for two submarines. Egypt purchased two more submarines in 2014, according to military sources. Commander of the Egyptian Navy Ahmed Khaled Saeed raised the Egyptian flag on the submarine during the celebration ceremony. The submarine was manufactured by...
(Reuters (Eng) 08/10/17)
Authorities in Arish, the capital of North Sinai province, are hunting the gunmen who fired at the patrol car, state media reports. Islamic State has claimed responsibility for an attack on a patrol car on Wednesday that killed four Egyptian policemen in North Sinai, the militant group's AMAQ news agency said on Thursday. Authorities in Arish, the capital of North Sinai province, were on the hunt for gunmen who fired at the patrol car, state news paper Al-Ahram reported on...
(Xinhuanet 08/10/17)
Egypt strongly condemned on Thursday the car attack in Paris that left six French soldiers injured. "Egypt fully supports the French government and people in its war against terrorism," the Egyptian foreign ministry said in a press statement. The statement further underlined the need for decisive measures against terrorism and take legal actions against those who support terror groups financially and logistically. On Wednesday, a man ploughed his car into a group of French soldiers in a Paris suburb, injuring...
(Reuters (Eng) 08/09/17)
An Egyptian policeman was killed on Tuesday in a clash with suspected Islamist gunmen in the southern province of Qena, security sources said. Police had raided mountainous areas after receiving information that militants loyal to Islamic State were hiding there, the sources said. Two gunmen were killed before the exchange of fire that killed the policeman. The clash comes days after a policeman and civilian were killed in a clash in the city of Esna, south of Luxor. No group...

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(Bloomberg 08/21/17)
Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub. Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent stake, and pump it to a liquefied natural gas plant in Egypt, according to people with knowledge of the matter. Talks are at an early stage and some of Aphrodite’s gas could be sold locally, said the people, who asked not to be named because the discussions are private. Combining output from the fields, which share some...
(Andalou Agency 08/18/17)
Egypt fears Ethiopia’s Grand Renaissance Dam will diminish its historical quota of Nile water. Sudanese President Omar al-Bashir on Thursday vowed to prevent any reduction of Egypt’s historical share of Nile water due to Ethiopia’s construction of a massive hydro-electric dam on the Blue Nile River. At a joint press conference held in Khartoum with Ethiopian Prime Minister Hailemariam Desalegn, al-Bashir reiterated his country’s longstanding commitment to a 1959 water-sharing agreement between upstream and downstream states. “Sudan is totally committed to the 1959 agreement, which established the parameters for water-sharing between Sudan and Egypt,” he said. “We can also ensure that Egypt will not be affected by the dam’s construction,” he added. Desalegn, for his part, stressed Ethiopia’s desire to...
(News24 08/18/17)
Sudan's President Omar al-Bashir said on Thursday that the construction of Ethiopia's controversial Grand Renaissance Dam on the Nile River would not impact water supplies to Egypt as feared by Cairo. Visiting Ethiopian Prime Minister Hailemariam Desalegn, for his part, said the project was a "win-win" for the peoples of all three countries if it was not politicised. Construction of the massive dam on the Blue Nile in Ethiopia has poisoned relations between Cairo and Addis Ababa, with Egypt fearing...
(Reuters (Eng) 08/18/17)
GB Auto, the Egyptian automotive assembler and manufacturer, expects demand for cars to pick up by the end of 2017 as dealers run down inventories, the company's CEO said on Thursday. Consumer demand in Egypt took a hit in November last year, when the central bank floated the pound currency to secure a three-year $12 billion International Monetary Fund loan, a move which more than halved the value of the currency. The IMF programme is tied to reforms such as...
(Reuters (Eng) 08/17/17)
Egypt's cabinet passed regulations on Thursday for a new investment law aimed at attracting foreign investors to help the economy recover after a 2011 uprising. Investment Minister Sahar Nasr said the law will now be passed to Egypt's administrative court, the state council, which is expected to give a final legal review before the law enters into force. The law aims to cut bureaucracy, especially for starting projects, and provide more incentives to investors looking to put money into Egypt...
(Egypt Independent 08/17/17)
Egypt’s central bank is seen leaving key interest rates unchanged this month, a Reuters poll indicated on Tuesday, after it raised them by 200 basis points last month for the second time in a row as inflation soared. Egypt has raised key interest rates by 7 percentage points since it floated the pound in November as part of a $12 billionInternational Monetary Fund programme aimed at boosting the economy. “I expect no change given that the CBE has already hiked...
(Egyptian Streets 08/17/17)
Egypt’s Minister of Investment and International Cooperation (MIIC) Sahar Nasr to meet with a delegation from the World Bank on Sunday to discuss final procedures before giving Egypt the final $US 1 billion tranche of a $US 3 billion loan. According to Nasr, the loan is to finance the social and economic development projects. The Regional Director of the International Bank in Egypt Assad Allam and Nasr have met to follow on the progress of the development projects in Upper...
(Reuters (Eng) 08/17/17)
Egypt's first bitcoin exchange will go live later this month, the founders of Bitcoin Egypt said, linking the Middle East's most populous country with a cryptocurrency that has surged in value in recent months. Many governments around the world are still mulling how to regulate and classify bitcoin, a volatile digital currency that has captured the interest of speculative investors worldwide as its value has soared, roughly quadrupling since the start of 2017 and trading at around $4,400 on Thursday...
(Bloomberg 08/16/17)
Egypt’s tourism receipts almost tripled and worker remittances rose in the last three months of its fiscal year, marking another step in the country’s economic recovery from a crippling dollar shortage. Tourism revenue rose to $1.5 billion in the fourth quarter that ended June 30, from $510 million in the same period a year ago, according to initial central bank data that it shared with Bloomberg. Full-year receipts rose 16 percent to $4.4 billion. Remittances grew 9 percent to $4.8...
(Bloomberg 08/16/17)
Egypt plans to return to the international debt markets in January to raise as much as $4 billion to fund the budget deficit, a Finance Ministry official said. The ministry may approach investment banks to select advisers for the possible sale within three months, the official told Bloomberg on condition of anonymity because the plans have yet to be finalized. The amount and the timing would depend on market conditions, the official said. Egyptian Finance Minister Amr El-Garhy said this...
(Xinhuanet 08/14/17)
The volume of trade exchange between Egypt and China recorded 5.178 billion dollars from January to June 2017, state news agency MENA reported on Monday. China's exports to Egypt decreased by 20.79 percent on a year-on-year basis to 4.518 billion dollars, MENA cited the latest statistics released by the Chinese General Administration of Customs as saying. While Chinese imports from Egypt increased by 298.37 percent to reach 660 million dollars, it added. In June, the volume of trade exchange between Egypt and China amounted to 928 million dollars. Chinese imports from Egypt upped by 181.69 percent on annual basis to 80.58 million dollars, while exports dropped by 17.83 percent to reach 847 million dollars.
(Xinhuanet 08/14/17)
Egypt issued a new law aiming at facilitating measures to issue permits for establishing industrial facilities and attract more industrial investments, the MENA news agency reported on Sunday. The Egypt's Trade and Industry Minister Tarek Qabil asserted on Sunday that the executive regulations of the law aiming at facilitating measures to issue permits for establishing industrial facilities will make a revolution concerning industrial investment rates in Egypt in the coming period. This came on the sidelines of a press conference...
(Reuters (Eng) 08/14/17)
Egypt's Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September, its chief executive officer told Reuters on Monday. The investment bank aims to raise $150-200 million in the first phase of the investment fund, Bassem Azzab said. Beltone aims to acquire brokerages in Egypt and frontier markets, Azzab said. He expects the company to manage the initial public offering of a pharmaceutical company worth over 1 billion Egyptian pounds ($56.37 million) on the Egyptian...
(Bloomberg 08/11/17)
Egypt has received $40 billion in investments and transfers from abroad since floating its currency in November and securing the largest International Monetary Fund loan to a Middle East nation. The funds include receipts from exports, investors selling dollars to buy Egyptian assets, and the exchange of dollars for Egyptian pounds, either on the local market or through remittances, central bank sub-governor Rami Aboul Naga said on Thursday. The figure does not include financing Egypt has received, such as IMF loan tranches or $7 billion in Eurobonds Egypt
(Bloomberg 08/10/17)
Egypt’s urban annual inflation rate accelerated in July to its highest level in decades, fueled by a new round of subsidy cuts ordered under the government’s economic reform program. Annual consumer prices in urban areas climbed 33 percent, up from 29.8 percent in June, according to the state-run CAPMAS statistics agency. The month-on-month rate accelerated to 3.2 percent from 0.8 percent in June. Fuel and electricity price increases went into effect at the start of the new fiscal year on July 1, for the second time in less than a year. The measures are part of an International Monetary Fund-backed reform effort
(Reuters (Eng) 08/10/17)
Egypt's key inflation rates soared to multi-decade highs on Thursday on the back of energy subsidy cuts agreed with the International Monetary Fund as a condition of its $12 billion three-year loan. Annual urban inflation for July hit a critical high of 33.0 percent from 29.8 percent in June, the official CAPMAS statistics agency said, the highest since June 1986, and the second highest since Reuters data began in 1958. Core inflation, which strips out volatile items like food, rose...
(Reuters (Eng) 08/10/17)
Egypt on Tuesday tightened rules for obtaining food subsidy cards, capping the number of new claimants per family and setting income limits as it works to reform its bloated economy. Egypt agreed a $12 billion three-year loan with the International Monetary Fund in November, in exchange for a program including subsidy cuts and tax hikes. It hopes the reforms will help attract back investors who fled after an uprising in 2011. Inflation has soared since import-dependant Egypt floated its pound...
(Bloomberg 08/09/17)
Egypt tightened access to a costly rations program on which the majority of the population relies, the latest in a series of painful and politically-sensitive measures seeking to repair public finances and restore investor confidence. The decree unveiled Tuesday restricts access to new ration cards to people earning 1,500 pounds ($84.50) a month or less for applicants in the public or private sector, the Supply Ministry said in a statement. Lower caps apply to other segments of the population, including...
(Haaretz 08/09/17)
New law promises to put an end to years of uncertainty and could lead to big contracts for Tamar and Leviathan gas fields. After years of delays and uncertainty, Egypt could be on its way to becoming a major market for Israeli natural gas exports after President Abdel Fattah al-Sissi signed legislation on Tuesday forming a gas regulatory authority and permitting private sector companies to import gas. Egypt, along with Turkey, is one of two regional markets that could buy...
(Al-Monitor 08/09/17)
“A year ago, I never would have envisioned myself sharing my home with a complete stranger, but desperate situations demand desperate measures,” Sherine Moustafa, a 45-year-old hotel sales executive and divorcee, told Al-Monitor. Struggling to cope with the soaring prices of goods and services prompted by the November 2016 flotation of the Egyptian pound and successive cuts in fuel subsidies, Sherine has had to look for new and innovative ways to boost her income. Since April, she has been renting...

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(AFP (eng) 08/10/17)
Egypt debut in the African Nations Championship (CHAN) this weekend at home to formidable Morocco, ending an unexplained nine-year absence from the competition. Matches in the biennial competition carry full international status despite being restricted to footballers registered with clubs in their country of birth. It was introduced by CAF in 2008 amid concerns that home-based stars were getting few national team opportunities with compatriots playing in Europe dominating squads. The Nations Championship has grown quickly in popularity and crowd appeal and 49 of 54 CAF members entered the 2018 tournament, with Kenya hosting the finals next January. Egypt, Equatorial Guinea and Sao Tome e Principe make their first appearances this weekend, leaving Cape Verde...
(Reuters (Eng) 08/08/17)
Tuesday's action at the World Athletics Championships sees two of the most intriguing races of the program as South Africa's Wayde van Niekerk bids for the first half of his 400/200 meters double and Nigel Amos goes for gold in the men's 800m. World record holder and defending champion Van Niekerk should be unbeatable in the 400m but faces a stiff challenge, not least from Botswanan duo Isaac Makwala and Thebe Baboloki. Another Botswanan, Amos, will also have to be at his best in the 800m, where a clutch of athletes are suddenly dreaming of glory in the absence of Kenya's injured champion David Rudisha. Kenya is expected to continue its dominance of the men's 3,000m steeplechase - though American...
(Reuters (Eng) 07/21/17)
For Egypt's Special Olympics athletes, a lack of snow in their homeland did not stop them winning medals at this year's Winter Games. They trained on a surface that Egypt has plenty of: sand. The four-member snowshoe team of two men and two women with learning disabilities had never seen snow before arriving in Austria for the tournament in March, but they were prepared: winning gold in the relay as well as individual medals. They trained for two months by...
(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the...
(AFP (eng) 07/17/17)
West Bromwich Albion have completed the signing of Egypt defender Ahmed Hegazi on a season-long loan deal from Al Ahly, the Premier League side said on Monday. The 26-year-old caught the eye of Baggies boss Tony Pulis during the Africa Cup of Nations earlier this year, in which the centre-back helped Egypt to a runners-up finish. West Brom have the option to make the deal permanent at the end of next season, and Pulis is delighted to have got his...
(AFP (eng) 07/13/17)
Al-Ahly coach Hossam El Badry has been suspended for one match by the Confederation of African Football (CAF) after boycotting a press conference over the presence of the Qatari-owned BeIn Sports channel. Egypt and several of its allies cut diplomatic relations with Qatar last month, accusing it of supporting extremism. The Eygptian FA and its respective clubs then decided to boycott BeIn Sports as a result. On June 20, ahead of Al-Ahly's CAF Champions League match against Wydad Casablanca of...
(AFP (eng) 06/04/17)
A howler from USM Alger goalkeeper Mohamed Zemmamouche allowed Zamalek of Egypt to grab a 1-1 draw on Saturday in a CAF Champions League clash. Algerians USM were heading for a shock Group B win at the 90,000-seat Borg El Arab Stadium near Alexandria after taking a 30th-minute lead through Farouk Chafai. But in the fourth minute of stoppage time, captain Zemmamouche dropped a cross at the feet of grateful Zambian Emmanuel Mayuka, who scored from close range. Former Southampton...
(AFP (eng) 05/24/17)
Cameroonian city Garoua proved a happy hunting ground once again for Al Ahly of Egypt as they beat Coton Sport 2-0 on Tuesday in the CAF Champions League. Moemen Zakareya created the first goal for Nigerian Junior Ajayi after 12 minutes and scored the second two minutes later in Group D at Stade Omnisports. Record eight-time African champions Ahly clinched the 2008 title in Garoua by forcing a 2-2 second-leg draw with Coton having built a two-goal lead at home...
(AFP (eng) 05/17/17)
Shaimaa Haridy smashed the Islamic Solidarity Games records as she cruised to women's +90kg victory in the final session of the weightlifting on Wednesday, while teammate Dina Barakat made it two for Egypt. Haridy won without breaking sweat with a record 275kg overall, before the -90kg clean and jerk record was broken twice as Barakat prevented Clementine Meukeugni Noubissi from claiming Cameroon's first ever gold medal at the Games. Haridy was always going to win the title if she could...
(AFP (eng) 05/16/17)
Egypt boosted their hopes of increasing a disappointing medal tally at the fourth Islamic Solidarity Games as two of their boxers reached the semi-finals on Tuesday. Eslam Mohamed and Abdelrahman Abdelgawwad both overcame Algerian opposition to guarantee themselves at least a bronze medal in the light-welterweight (64kg) and light-heavyweight (81kg) categories respectively. Egypt have so far claimed just four gold medals in Baku, a far cry from the 26 they picked up at the 2013 Solidarity Games in Indonesia. Mohamed...
(AFP (eng) 05/13/17)
Nigerian Stanley Okawuchi scored a soft late goal to ensure Zamalek of Egypt made a winning start Friday in the CAF Champions League group phase. The five-time champions scored twice in the second half to overcome plucky CAPS United of Zimbabwe 2-0 during matchday 1 in Mediterranean city Alexandria. Several squandered chances and acrobatic saves from CAPS goalkeeper Edmore Sibanda kept the Group B clash goalless until half-time at the Borg Al Arab Stadium. But Sibanda was at fault for...
(AFP (eng) 03/16/17)
Africa will host a Commonwealth Games one day despite the blow of Durban being stripped of hosting the 2022 edition, David Grevemberg, the chief executive of The Commonwealth Games Federation (CGF), told AFP. Durban lost the right to host the Games on Monday -- just 18 months after being awarded them -- when it failed to meet criteria laid down by the CGF, primarily over costs. "I wouldn't want to make a judgement call," Grevemberg told AFP on the sidelines...
(AFP (eng) 02/20/17)
An Egyptian court upheld Monday death sentences against 10 people convicted over rioting that claimed 74 lives at a stadium in Port Said in 2012, judicial and security officials said. The ruling by the Court of Cassation, which is final, excluded an 11th defendant who remains at large after his death penalty was also confirmed in June 2015 by another court. The court also upheld sentences of life imprisonment for 10 people and five years for 12 others, including Port...
(Xinhuanet 02/13/17)
Nigeria and Egypt will lead 14 other African countries to this year's International Table Tennis Federation (ITTF) World Championships holding in Dusseldorf, Germany. The qualification of the participating teams was based on their attendance of continental tournament held in Agadir, Morocco in 2016, while other African countries that will join Nigeria and Egypt for the tournament are Algeria, Botswana, Cameroon, Congo Brazzaville, Cote d'Ivoire, Gabon, Libya, Morocco, South Africa, Senegal, Sierra Leone, Sudan, Togo and Tunisia. According to the list...
(AFP (eng) 02/10/17)
Up to 18 players at the just-completed Africa Cup of Nations could be involved in the new-look CAF Champions League when it kicks off this weekend. Among them is Georges Bokwe, one of two unused goalkeepers in the Cameroon squad that defeated Egypt in the final last Sunday in Gabon. Bokwe was kept out of the starting line-up by the consistent brilliance of Spain-based Fabrice Ondoa, who was included in the team of the tournament. But Bokwe is the first...
(BBC News Africa 02/07/17)
Egypt coach Hector Cuper has been assured he has the full support of the Egyptian Football Association after losing the Africa Cup of Nations final. The Pharaohs were beaten 2-1 by Cameroon on Sunday. "He will stay as head coach, we like what he is doing with the team," said EFA president Hany Abo Rida. "We are in a good place in World Cup qualification and we dream we can reach the tournament in Russia in 2018. We all support...
(AFP (eng) 02/06/17)
Vincent Aboubakar came off the bench to score a stunning winner with two minutes left as Cameroon fought back from behind to beat Egypt 2-1 in a thrilling Africa Cup of Nations final on Sunday. Arsenal midfielder Mohamed Elneny had given Egypt the lead midway through the first half and Egypt looked to be on course to win an unrivalled eighth Cup of Nations crown in their first appearance at the tournament since 2010. But Nicolas Nkoulou, who had come off the bench in the first half, headed in the equaliser just before the hour mark and fellow substitute Aboubakar slammed in the winner in the 88th minute.
(AFP (eng) 02/04/17)
Cameroon and Egypt are both aiming to cap remarkable revivals by winning the Africa Cup of Nations when they meet in a final that few thought possible in Libreville on Sunday evening. These are two of the most successful nations in the 60-year history of the competition, with Egypt unrivalled on seven titles and Cameroon, four-time winners, just behind alongside Ghana. But at the outset of the tournament in Gabon it was the likes of Algeria, Senegal and defending champions...
(AFP (eng) 02/04/17)
When Essam El Hadary, the Egypt goalkeeper who will start in Sunday's Africa Cup of Nations final, made his international debut, his current teammate Ramadan Sobhi had not yet been born. First capped in 1996, El Hadary was the man whose saves in a penalty shoot-out against Burkina Faso on Wednesday took the Pharaohs through to a date with Cameroon in Libreville. The combined age of the two Burkinabe players he thwarted -- Bertrand Traore and goalkeeper Herve Koffi are...
(BBC News Africa 02/03/17)
Egypt goalkeeper Essam El Hadary foresaw that he would save the penalties that took his side through to the Africa Cup of Nations final. The 44-year-old kept out Burkina Faso's last two spot-kicks to win the shootout for Egypt in Wednesday's semi-final. "I had a feeling that I was going to save the final two penalties," he said. "When we went to the shootout, our 2006 title win crossed my mind," he added, recalling his penalty shootout save from Didier...

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(Fox News 08/17/17)
Experts have unearthed three tombs that date back 2,000 years at the site of an ancient city in the Nile Valley. Egypt's antiquities ministry said that archaeologists discovered the tombs from the Ptolemaic Period. The discovery was made in the province of Minya, south of Cairo, in an area known as al-Kamin al-Sahrawi. In a August 15 Facebook post, the ministry explained that excavators unearthed a collection of sarcophagi of different shapes and sizes as well as clay fragments that date the tomb to between Egypt’s 27th Dynasty and the Greco-Roman period. The area was likely a “great cemetery,” according to Dr. Ayman Ashmawy, head of the ministry’s Ancient Egyptian Antiquities Sector. Ashmawy described the...
(The Independent 08/16/17)
First discovery of female and child remains at al-Kamin al-Sarwahi site points to wider use of tomb network than previously thought. Three tombs dating back 2,000 years have been newly discovered in southern Egypt, the ministry of antiquities has said. The finds were uncovered in al-Kamin al-Sarwahi in Minya province, hidden down deep burial shafts. After careful excavations, in one tomb four sarcophagi were found which had been carved with human faces. Another contained six burial holes, including a child’s. “These tombs were part of a large cemetery for a large city and not a military garrison as some suggest,” lead archaeologist Ali al-Bakry said, citing bones and other evidence which pointed to the presence of “men, women and children...
(AFP (eng) 08/10/17)
The skull of an infant ape buried by a volcano 13 million years ago has preserved intriguing clues about the ancestor humans shared with apes -- including a likely African origin, scientists said Wednesday. A previously-unknown creature that shared an extended family with the human forefather, had a flat face like that of our far-flung cousin the gibbon, but did not move like one, its discoverers wrote in the journal Nature. They named it Nyanzapithecus alesi after "ales" -- the...
(Washington Post 05/31/17)
Ancient Egyptians were an archaeologist's dream. They left behind intricate coffins, massive pyramids and gorgeous hieroglyphs, the pictorial writing code cracked in 1799. Egyptians recorded tales of royalty and gods. They jotted down life's miscellanies, too, as humdrum as beer recipes and doctor's notes. But there was one persistent hole in ancient Egyptian identity: their chromosomes. Cool, dry permafrost can preserve prehistoric DNA like a natural freezer, but Egypt is a gene incinerator. The region is hot. Within the mummies'...
(Reuters (Eng) 05/26/17)
Egypt has banned 21 websites, including the main website of Qatar-based Al Jazeera television and prominent local independent news site Mada Masr, accusing them of supporting terrorism and spreading false news. The blockade is notable in scope and for being the first publicly recognized by the government. It was heavily criticized by journalists and rights groups. The state news agency announced it late on Wednesday. Individual websites had been inaccessible in the past but there was never any official admission...
(AFP (eng) 05/26/17)
Entertainment | France | film | festival | Cannes | Zambia | witchcraft Cannes, France | AFP | Friday 5/26/2017 - 14:01 UTC+3 | 615 words by Katy Lee Being accused of witchcraft is no laughing matter in Africa -- but movie director Rungano Nyoni decided a dose of humour was just what was needed to tackle a problem rampant in parts of the continent. Set in Zambia, the sharp satire "I Am Not A Witch" has premiered to strong...
(AFP (eng) 05/24/17)
The first of the many wondrous artefacts found in Egyptian boy king Tutankhamun's tomb were transported carefully through Cairo's streets on Tuesday to their new home near the Giza Pyramids. The still unfinished new Grand Egyptian Museum at the foot of the pyramids will eventually house the collections of the current brimming museum in the city's Tahrir Square. A gilded bed and a funeral chariot from Tutankhamun's tomb -- discovered by British archaeologist Howard Carter in 1922 -- were transferred...
(AFP (eng) 05/24/17)
The legendary treasure of ancient Egypt's boy king Tutankhamun, whose tomb British archaeologist Howard Carter discovered in the Valley of the Kings near Luxor in 1922, is shrouded in mystery. - A hoard uncovered intact - The tomb of Tutankhamun, who died aged 19 in 1324 BC after nine years on the throne, is pharaonic Egypt's only mausoleum found so far with its burial artefacts intact. Many other resting places of pharaohs and dignitaries had been pillaged by tomb robbers...
(AFP (eng) 05/13/17)
Egyptian archaeologists have discovered 17 mummies in catacombs in Minya province, south of Cairo, the antiquities ministry announced on Saturday. "We found catacombs containing a number of mummies," said Salah al-Kholi, a Cairo University professor of Egyptology who headed the mission that made the discovery in the Touna el-Gabal district of the province in central Egypt. Burial shafts were found in the area and excavation work "revealed that these shafts led to a number of corridors inside a cachette of...
(The Associated Press 05/12/17)
Ballet dancer Fady el-Nabarawy feels he can finally breathe again the moment he enters the gates of the Cairo Opera House after a commute from his ramshackle, poor neighborhood. This is where he and his fellow dancers practice, perform, love and create. “Every day, I cannot wait to come here. My oxygen is here,” he said. Ballet is in its own bubble in Egypt, removed from the surrounding society. The elite Western art form is far from Egypt’s own rich...
(The Associated Press 05/08/17)
Archaeologists and conservation experts met in Cairo on Sunday to discuss the safe transportation of King Tutankhamun's throne, chests and bed from the Egyptian Museum in central Cairo to a new one being built on the other side of the Egyptian capital. The meeting, organized by the Egyptian Ministry of Antiquities, brought together experts from Egypt, France, Spain, Germany, Switzerland, Denmark and Japan. Tareq Tawfiq, a senior ministry official in charge of the new museum, told The Associated Press that...
(The Associated Press 05/04/17)
Egypt's antiquities ministry says that a Spanish archaeological mission has discovered a nearly 4000-year old funerary garden in the southern city of Luxor. In a Wednesday statement, the ministry said the rectangular-shaped garden was found during excavations in an open courtyard of a rock-cut tomb belonging to the Middle Kingdom of ancient Egypt. The garden is divided into four squared sections. Each covers 30 square centimeters and is believed to have contained different kinds of plants and flowers. The head...
(Reuters (Eng) 04/20/17)
Egypt has unveiled a massive granite statue of Ramses II, the most powerful and celebrated of the ancient Pharaohs, after completing its restoration. Standing 11 meters (36 feet) tall and weighing 75 tons, the statue was presented in a floodlit ceremony at the Luxor Temple on the banks of the Nile on Tuesday evening. When the statue was discovered between 1958 and 1960, it was in 57 pieces. Ramses II, also known as Ramses the Great or Ozymandias, reigned more...
(AFP (eng) 04/18/17)
Egyptian archaeologists have unearthed several mummies, colourful wooden sarcophagi and more than 1,000 funerary statues in a 3,500-year-old tomb near the city of Luxor, hailing an "important discovery". The 18th Dynasty tomb containing at least eight mummies was discovered in the Draa Abul Nagaa necropolis near the famed Valley of the Kings, the antiquities ministry said in a Tuesday statement. It belonged to a nobleman named Userhat who worked as the city judge. It was opened to add more mummies...
(Xinhuanet 04/18/17)
Egypt's antiquities ministry announced Tuesday the unearthing of a funerary collection of a New Kingdom tomb, including mummies and Ushabti figurines, in upper Egypt's Luxor governorate. "An Egyptian archaeological mission working in the Draa Abul Nagaa necropolis on Luxor's west bank unearthed the funerary collection of a New Kingdom tomb of Userhat, the city juror," Dr. Mostafa Waziri, head of the archaeological mission told Xinhua. The new tomb's opening comes as the world celebrates the annual April 18 World Heritage...
(Xinhuanet 04/18/17)
Africa's diaspora is playing a big role in the economic transformation of the continent, the UN said on Tuesday. UN Population Fund (UNFPA) Regional Director Dr Julitta Onabanjo told Xinhua in Nairobi that remittances are important source of income for many African families. "The diaspora therefore complements government efforts to lift many families out of poverty," Onabanjo said on the sidelines of the First Africa-China Conference on Population and Development. Onabanjo said that Africans in the diaspora also bring back...
(AFP (eng) 04/03/17)
The remains of an Egyptian pyramid built around 3,700 years ago have been discovered near the well-known bent pyramid of King Snefru, the antiquities ministry announced Monday. The pyramid from the 13th dynasty was found in Dahshur's royal necropolis, 30 kilometres (20 miles) south of Cairo, it said. "An alabaster... block engraved with 10 vertical hieroglyphic lines" was among the finds, the ministry said, citing Adel Okasha, director general at the necropolis. It said "granite lintel and stoney blocks showing...
(The Guardian 03/31/17)
A supportive documentary about the anti-Mubarak TV satirist Bassem Youssef, whose career followed the same trajectory as the Arab spring. Bassem Youssef is the Egyptian surgeon turned TV satirist who in 2011 became a YouTube celebrity with his homemade broadcasts about Cairo’s Tahrir Square and the anti-Mubarak revolution. This film shows how his career rose and fell with the Arab spring, initially endorsed by the west until the issue became clouded by Islamist insurgency. Youssef is a TV natural: his...
(Middle East Monitor 03/30/17)
Egyptian artist Bahia Shehab and French-Tunisian artist eL Seed have been awarded the UNESCO-Sharjah prize for Arab culture for their innovative use of Arabic calligraphy in street art. Shehab, who is the first woman in the region to receive the award, has said that art can be a tool for change that can encourage people to engage for justice. Her work “No, A Thousand Times No” began with the compilation of 1,000 “nos” as they had been depicted on anything...
(CBS News 03/23/17)
About $50 million worth of artifacts and antiques were shipped from both Egypt and Turkey to the United States in 2016 — the highest annual value from each of those countries in at least 20 years, according to U.S. Census Bureau documents. The artifacts, totaling about $100 million between the two countries, were imported “for consumption” and not for temporary display in a museum, the documents say. Most of the artifacts were shipped to New York City, where numerous antiquities...

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(Bloomberg 08/21/17)
Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub. Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent stake, and pump it to a liquefied natural gas plant in Egypt, according to people with knowledge of the matter. Talks are at an early stage and some of Aphrodite’s gas could be sold locally, said the people, who asked not to be named because the discussions are private. Combining output from the fields, which share some...
(The Guardian 08/18/17)
Transparency campaigners highlight alleged human rights abuses in Egypt as controversial conflict, stability and security fund comes under scrutiny again. The government is facing questions over transparency after almost £2 million in aid and defence funding was given to security projects in Egypt, including support for policing, the criminal justice system and the treatment of juvenile detainees. The news comes with Egypt’s security forces under fire from human rights groups for routine disappearances, the torture of detainees, and the jailing of political opponents and journalists. Documents obtained under the Freedom of Information Act reveal the cash was granted to the Egyptian authorities through the conflict, stability and security fund (CSSF), the operations, objectives and achievement of which were described as...
(Fox News 08/17/17)
Experts have unearthed three tombs that date back 2,000 years at the site of an ancient city in the Nile Valley. Egypt's antiquities ministry said that archaeologists discovered the tombs from the Ptolemaic Period. The discovery was made in the province of Minya, south of Cairo, in an area known as al-Kamin al-Sahrawi. In a August 15 Facebook post, the ministry explained that excavators unearthed a collection of sarcophagi of different shapes and sizes as well as clay fragments that...
(Bloomberg 08/16/17)
Egypt’s tourism receipts almost tripled and worker remittances rose in the last three months of its fiscal year, marking another step in the country’s economic recovery from a crippling dollar shortage. Tourism revenue rose to $1.5 billion in the fourth quarter that ended June 30, from $510 million in the same period a year ago, according to initial central bank data that it shared with Bloomberg. Full-year receipts rose 16 percent to $4.4 billion. Remittances grew 9 percent to $4.8...
(Bloomberg 08/16/17)
Egypt plans to return to the international debt markets in January to raise as much as $4 billion to fund the budget deficit, a Finance Ministry official said. The ministry may approach investment banks to select advisers for the possible sale within three months, the official told Bloomberg on condition of anonymity because the plans have yet to be finalized. The amount and the timing would depend on market conditions, the official said. Egyptian Finance Minister Amr El-Garhy said this...
(NPR 08/16/17)
On Egypt's Mediterranean coast, August should be prime tourist season. But the seaside restaurants in Alexandria are almost empty. Worries over security are keeping a lot of foreign tourists away. But there's a much bigger worry looming: that hotter weather and a disappearing shoreline could make Egypt's prospects even worse. Scientists generally agree that human-made climate change – the effect of greenhouse gas emissions from things like cars and factories – is making the sea level higher and its waters...
(AL Jazeera 08/16/17)
The murder of Italian graduate student Giulio Regeni led the Italian government to recall its envoy in April 2016. Italy said on Monday it would return its ambassador to Cairo more than a year after the murder of an Italian graduate student led the Rome government to recall its previous envoy. Giulio Regeni was 28 years old when he vanished from the streets of Cairo in January 2016. His body was discovered in a ditch on the outskirts of the...
(The Independent 08/16/17)
First discovery of female and child remains at al-Kamin al-Sarwahi site points to wider use of tomb network than previously thought. Three tombs dating back 2,000 years have been newly discovered in southern Egypt, the ministry of antiquities has said. The finds were uncovered in al-Kamin al-Sarwahi in Minya province, hidden down deep burial shafts. After careful excavations, in one tomb four sarcophagi were found which had been carved with human faces. Another contained six burial holes, including a child’s...
(AL Jazeera 08/14/17)
Detention of Al Jazeera journalist renewed for seventh time since he was arrested on December 20. An Egyptian court has extended the detention, without charge, of Al Jazeera journalist Mahmoud Hussein for another 45 days. Egyptian authorities announced the seventh extension on Thursday since Hussein was arrested in December last year. Hussein, an Egyptian national based in Qatar, was stopped, questioned and arrested by authorities on December 20, after travelling to Cairo for a holiday. Five days after his initial...
(Bloomberg 08/14/17)
The U.S. will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man. Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest countries in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump administration will go ahead...
(BBC News Africa 08/12/17)
Two passenger trains have collided in northern Egypt, killing at least 41 people and injuring more than 120 others, health officials say. A number of carriage were derailed by the accident in the coastal city of Alexandria. Reports said one of the trains had been brought to a halt after a malfunction. Transport Minister Hisham Arafat blamed "human error". Deadly train accidents in Egypt are rare but not unheard of. The trains, one travelling from the capital Cairo and the other from Port Said, crashed at about 14:15 local time (12:15 GMT). One resident, Hoda, was standing on her rooftop when she saw the trains crash.
(Bloomberg 08/11/17)
Egypt has received $40 billion in investments and transfers from abroad since floating its currency in November and securing the largest International Monetary Fund loan to a Middle East nation. The funds include receipts from exports, investors selling dollars to buy Egyptian assets, and the exchange of dollars for Egyptian pounds, either on the local market or through remittances, central bank sub-governor Rami Aboul Naga said on Thursday. The figure does not include financing Egypt has received, such as IMF loan tranches or $7 billion in Eurobonds Egypt
(Bloomberg 08/10/17)
Egypt’s urban annual inflation rate accelerated in July to its highest level in decades, fueled by a new round of subsidy cuts ordered under the government’s economic reform program. Annual consumer prices in urban areas climbed 33 percent, up from 29.8 percent in June, according to the state-run CAPMAS statistics agency. The month-on-month rate accelerated to 3.2 percent from 0.8 percent in June. Fuel and electricity price increases went into effect at the start of the new fiscal year on July 1, for the second time in less than a year. The measures are part of an International Monetary Fund-backed reform effort
(Bloomberg 08/09/17)
Egypt tightened access to a costly rations program on which the majority of the population relies, the latest in a series of painful and politically-sensitive measures seeking to repair public finances and restore investor confidence. The decree unveiled Tuesday restricts access to new ration cards to people earning 1,500 pounds ($84.50) a month or less for applicants in the public or private sector, the Supply Ministry said in a statement. Lower caps apply to other segments of the population, including...
(Haaretz 08/09/17)
New law promises to put an end to years of uncertainty and could lead to big contracts for Tamar and Leviathan gas fields. After years of delays and uncertainty, Egypt could be on its way to becoming a major market for Israeli natural gas exports after President Abdel Fattah al-Sissi signed legislation on Tuesday forming a gas regulatory authority and permitting private sector companies to import gas. Egypt, along with Turkey, is one of two regional markets that could buy...
(Bloomberg 08/08/17)
In five decades of importing steel wires, Zahar Benmoussa’s company never worried about currency risks -- until Morocco announced plans to float the dirham. “For the first time in our history, we started to hedge” in the currency market, said Benmoussa, managing director at Casablanca-based Grillages Marocains. Across Morocco, fears of a weaker dirham triggered a rush for dollars and euros, causing a $3 billion drop in its reserves in just three months this year. Then in June, the government...
(Bloomberg 08/02/17)
Egypt may exceed its $10 billion target for foreign direct investment this year as the weaker pound reduces the cost of doing business in North Africa’s largest economy and a new investment law comes into force, the investment minister said. Sahar Nasr told Bloomberg she had been approached by investors from Saudi Arabia, Singapore, China and the United Arab Emirates -- including Emaar Properties PJSC Chairman Mohamed Alabbar and Al Ghurair Group -- about potential investments. The pipeline for the fiscal year that began July 1 includes oil and gas, real estate, tourism and logistics investments
(Bloomberg 08/02/17)
Egypt’s foreign-currency reserves jumped to a record in July, as investor confidence surged since the country embarked on an International Monetary Fund-backed economic program last year. Net international reserves rose by $4.7 billion to $36.04 billion, according to central bank data released on Tuesday. Egypt’s reserves saw total inflows of $7.7 billion in July, including $3.7 billion in foreign investments and $4 billion from the local economy, Cairo-based Al-Mal newspaper reported, citing central bank Governor Tarek Amer. Egypt also received...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(Bloomberg 08/01/17)
Egypt’s foreign-currency reserves surged to a record in July, as investor confidence surged since the country embarked on an International Monetary Fund-backed economic program last year. Net international reserves rose by $4.7 billion to $36.04 billion, according to central bank data released on Tuesday. Egypt received a $1.25 billion loan installment from the IMF in July. Officials at the central bank were not immediately available for comment. Investors have been pouring money into Egyptian debt and equities since authorities removed...

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