Thursday 23 November 2017
(International Business Times 03/28/13)
A pivotal link between Asia and Africa was cemented this week when Egyptian President Mohamed Morsi traveled to meet Indian Prime Minister Manmohan Singh. Though the two economies have little in common, Egypt and India stand to benefit greatly. The partnership will do more than link up two of the world’s most important economic systems -- it will also help Egypt to maintain its diplomatic independence by lessening its reliance on Western powers. Typically, that’s China’s game; the world’s second-largest economy is putting down roots all across Africa. China’s annual bilateral trade with Egypt is around $9 billion, making it Egypt’s third-largest trading partner after the United States and the European Union. India comes in seventh -- but it’s now...
(International Business Times 03/28/13)
With Egypt’s foreign currency reserves pretty much exhausted, no tourism industry, and no International Monetary Fund deal finalized or announced, President Hosni Mubarak is looking anywhere for help to prop up his country’s slowly melting economy. The Qatari government was kind enough to hand over $4 billion of support earlier in March. But, Libya? It might not be that crazy of an idea. Libya is still dealing with political reform and attempting to control separatist groups after overthrowing its own dictator, Moammar Gadhafi, in 2011. Despite this, its economy, dependent mostly on oil, rebounded very quickly after the revolution. A report released by the IMF in 2012 showed that Libya’s oil exports, while still down, were on a very healthy...
( 03/27/13)
Libya is considering extending financial aid to Egypt to help its North African neighbor overcome a severe economic crisis, Libyan Prime Minister Ali Zaidan said on Wednesday. Egypt, which has endured more than two years of political instability since the overthrow of President Hosni Mubarak in 2011, is struggling with sliding currency reserves, falling tourism and a soaring budget deficit. OPEC-producer Libya is itself rebuilding after the overthrow of Muammar Gaddafi in 2011. Several newspapers had reported this week that Libya will deposit $2 billion at Egypt's central bank to support the economy but Zaidan said nothing had been decided yet. "It has been under consultation. This issue has not been decided yet," Zaidan told reporters in the Qatari capital...
(Reuters (Eng) 03/26/13)
"BRICS, Don't Carve Africa" reads a banner in a church hall in downtown Durban where civil society activists have gathered to cast a critical eye at a summit of five global emerging powers. The slogan evokes the 19th Century conference in Berlin where the predominant European colonial states carved up the African continent in a scramble historians see as epitomizing the brash exploitative capitalism of the time. Decades after Africans threw off the colonial yoke, it is the turn of the blossoming BRICS group of Brazil, Russia, China, India and South Africa to find their motives coming under scrutiny as they proclaim an altruistic-sounding "partnership for development, integration and industrialization" with Africa. Led by that giant of the emerging powers,...
(Reuters (Eng) 03/26/13)
President Barack Obama hosts the leaders of four African nations this week, all of which are cited in a new report for effectively increasing spending on agriculture to combat extreme poverty and hunger. The report by the ONE Campaign, an anti-poverty group co-founded by Irish rockers Bono and Bob Geldof, said Senegal, Malawi, Cape Verde and Sierra Leone either met or were close to meeting targets for increased budget spending on agriculture. All of the countries, except Cape Verde where there is little data, are also on track or close to meeting a U.N. target of halving extreme poverty by 2015, the report said. The African leaders will visit the White House on Thursday to showcase their fledgling democracies, but...
(The New York Times 03/26/13)
BEIJING — As President Xi Jinping of China continues his first overseas trip as his country’s leader, arriving in South Africa late on Monday after Russia and Tanzania, he meets with much goodwill – but also some concern among Africans that China may be a “new colonial power,” extracting resources and selling manufactured goods, as I reported on Sunday. China knows it. In a speech in Tanzania, Mr. Xi sought to calm the concerns, as my colleagues Chris Buckley and Jeffrey Gettleman reported. “China frankly faces up to the new circumstances and new problems in Sino-African relations,” Mr. Xi told an audience of Tanzanian politicians and officials in Dar es Salaam, the country’s economic hub and a center of government,...
(BBC News Africa 03/20/13)
Egyptian police have arrested a close aide and cousin of the late Libyan leader, Col Muammar Gaddafi. Ahmed Gaddaf al-Dam was Tripoli's special envoy to Cairo for many years and left Libya for Egypt shortly after the 2011 uprising against Col Gaddafi. Egypt's prosecutor general has ordered Mr Gaddaf al-Dam's detention for 30 days while charges against him are investigated. He gave himself up to Egyptian police after his home in Cairo was surrounded. Mr Gaddaf al-Dam is one of several high-profile Libyan figures residing in Egypt who have been pursued by Libyan authorities and the international police body Interpol since the end of the war.'Documents forged' Libya's deputy attorney general Taha Baara confirmed the arrest, saying Libya had presented...
(Reuters (Eng) 03/14/13)
Catholics in Africa and Asia on Thursday greeted the election of Pope Francis from Argentina as a historic breakthrough that would pump the developing world's vital energy into a struggling Church and amplify the voice of the planet's poor. While there was disappointment that Pope Benedict's successor did not come from the African or Asian continents, Cardinal Jorge Bergoglio's Third World origins spurred hopes of a kindred spirit among Catholics from Manila to Maputo. Argentina, in Latin America's southern cone, is as far from Africa and Asia as Europe, the prime source of previous pontiffs. But these rapidly developing southern continents of the globe, where poverty still looms large, are now home to the world's fastest growing Catholic communities. African...
(Xinhuanet 03/14/13)
Egyptian State Lawsuit Authority, representing the government, submitted Wednesday an appeal against the Administrative Court's decision to suspend parliamentary elections. The appeal was submitted against Administrative Court's ruling issued last week to suspend a decree by President Mohamed Morsi to hold the parliamentary polls on April 22 and refer 14 lawsuits against the constitutionality of elections law to the Supreme Constitutional Court. In a statement, the authority said that its decision to challenge the administrative court's ruling came after a deep studying for the verdict's different sides, arguing the ruling that prevents the president from practicing his political powers. Another appeal was submitted against the administrative court ruling by former lawmaker Mohamed al-Omda. Thus, Egypt's Administrative Court decided Wednesday to...
(Ahram Online 03/11/13)
Prosecutor-general's statements inviting public to make citizen's arrests opens door to 'private militias' and 'civil war,' military source tells Ahram Online A military source who spoke to Ahram Online on Monday slammed recent statements by the office of Egypt's prosecutor-general in which the latter gave the green light to members of the public to make citizen's arrests of anyone found committing acts of vandalism. The source, who spoke on condition of anonymity, said the move would open the door to the formation of "private militias" and raise the spectre of "civil war." The military source supported his assertions by pointing to the reaction to the statement by Islamist groups, some of whom quickly announced plans to set up 'popular committees'...
(Afrol News 03/08/13)
An Egyptian court ruled that the parliamentary elections, which President Mohammed Morsi had decreed for 22 April, must be postponed. Judges say the Constitutional Court needs time to approve the new Electoral Code. Mr Morsi says he will appeal the ruling. Egypt has struggled to establish a legitimate legislative ever since the revolution. Now, the country's judiciary is causing yet another hurdle to the process. The last parliamentary elections in Egypt were only held in 2011-12, but the country's Constitutional Court in June last year declared the elections void as the Electoral Code used was deemed unconstitutional. As a result, the court held, the allocation of parliamentary seats between the political parties had been wrong. The court ordered a new...
(ABC News 03/06/13)
An Egyptian court on Wednesday convicted a Hosni Mubarak-era steel magnate of profiteering and squandering public funds, and handed him a 37-year prison sentence and $296 million fine — the heaviest penalty yet against a former regime official since the longtime autocrat's fall two years ago. Ahmed Ezz, who is already serving a combined 17 years in prison from convictions of graft and money laundering, is one of the highest-profile ex-regime insiders to face corruption charges since the popular uprising that ousted Mubarak in February 2011. A court in Cairo's sister city of Giza found Ezz guilty Wednesday of making illicit gains of $740 million over a decade in a number of illegal business deals involving a steel firm in...
( 03/05/13)
RIYADH, Saudi Arabia — Secretary of State John Kerry announced Sunday that the United States would provide $250 million in assistance to Egypt after Egypt’s president promised to move ahead with negotiations with the International Monetary Fund over economic reforms. In a statement issued after his two-hour meeting with President Mohamed Morsi, Mr. Kerry said the aid decision reflected Egypt’s “extreme needs” and Mr. Morsi’s assurance that Egypt would reach an agreement with the I.M.F. after more than a year of talks over a $4.8 billion loan package. The statement issued by Mr. Kerry noted that he and Mr. Morsi had discussed the need to ensure the fairness of Egypt’s coming elections, but it did not mention any specific political...
(ABC News 03/05/13)
Egypt's Islamist president is considering whether to give the military full control of the restive Suez Canal city of Port Said after days of deadly street clashes stoked by excessive use of force by riot police, officials said Tuesday. A handover of the city to the military would be a recognition of the failure of Mohammed Morsi's government to bring calm to Port Said, which has been in turmoil since late January. With protests and strikes that have turned into an outright revolt, residents have been venting their fury at both the president and the security forces. A third day of clashes erupted at around daybreak Tuesday as police opened fire with tear gas and birdshot at protesters throwing stones...
(Xinhua 03/05/13)
At least four people were killed, including two policemen and 400 others were injured in clashes between the protesters and the security forces in Port Said in northern Egypt, an interior ministry official told Xinhua on Monday. "Two policemen died of gunshot in clashes with protesters in front of Port Said Security Directorate," the interior ministry official source told Xinhua. Port Said governorate has been witnessing civil disobedience for more than two weeks. On Sunday, the protesters clashed with the police as the interior ministry decided to move 39 prisoners, who are awaiting a verdict over a tragic football riot which killed over 70 in February last year, to another prison in order to avoid unrest. About 200 people of...
(Xinhua 03/04/13)
Egypt's parliamentary elections will start registration on March 9 and last through March 16, Counselor Samir Abu al-Maaty, chairman of Egypt's Higher Election Commission, said at a press conference Saturday. "The registration of candidates will go on for eight days from 9:00 a.m. to 2:00 p.m. except for the last day as it will be extended to 5 p.m.," said the chairman. Abu al-Maaty added that each stage of the elections, which will kick off on April 22, will be held on two successive days and that they will all be held under complete judicial supervision. The chairman said that the maximum amount of money to be spent on electoral campaign is 1 million Egyptian pounds (about 148,000 U.S. dollars),...
(Xinhua 03/04/13)
U.S. Secretary of State John Kerry, who is currently on a two-day visit to Egypt, urged Saturday evening the Egyptian political leaders to reach consensus as an important step for resolving the country's economic crisis. "There must be a willingness on all sides to make meaningful compromises on the issues that matter most to the Egyptian people," Kerry told reporters after initial talks with Foreign Minister Mohammed Kamel Amr in Cairo. "We do believe that in this moment of economic challenge that it is important for the Egyptian people to come together around the economic choices and to find some common ground in making those choices." "It is paramount, essential, urgent that the Egyptian economy gets stronger, that it gets...
(Reuters (Eng) 02/26/13)
LUXOR, Egypt (AP) -- A hot air balloon flying over Egypt's ancient city of Luxor caught fire and crashed into a sugar cane field on Tuesday, killing at least 18 foreign tourists, a security official said. It was one of the worst accidents involving tourists in Egypt and likely to push the key tourism industry deeper into recession. The casualties included French, British, Belgian, Hungarian, Japanese nationals and nine tourists from Hong Kong, Luxor Governor Ezzat Saad told reporters. Three survivors of the crash - two tourists and one Egyptian - were taken to a local hospital. According to the Egyptian security official, the balloon carrying at least 20 tourists was flying over Luxor when it caught fire, which triggered...
(Reuters (Eng) 02/25/13)
(Reuters) - Egyptian President Mohamed Mursi invited opposition parties to a meeting on Monday to discuss concerns about upcoming parliamentary elections, which some parties have threatened to boycott, and agree on ways to ensure their fairness. The invitation was similar to offers Mursi has made previously that were spurned, and the National Salvation Front opposition coalition immediately rejected the offer to meet. "I tell everyone of all colors of the spectrum, to all dear brothers in different parties across Egypt, I approach them by name, by party, by persons to sit tomorrow and put down guarantees for transparent and fair elections," Mursi said in a recorded appearance on a television talk program on Mehwar channel aired late on Sunday. Mursi...
(Reuters (Eng) 02/25/13)
Feb 25 (Reuters) - Egypt will resume talks with the International Monetary Fund on financial aid early next month, the country's investment minister Osama Saleh said on Monday. "There have been pledges of international and regional support to Egypt and most of these are in progress," Saleh said in a speech at a financial conference. "Negotiations with the IMF over the $4.8 billion loan will resume in early March." Saleh said an agreement with the IMF had almost been in place in December but that a change in public opinion meant it collapsed. "We don't see any reasons why the Egyptian people should reject the programme. They will eventually realise that the benefits they will get will outweigh the load...

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