First Independent Mena Newspaper
One of the first economic reforms under President Al-Sisi has been announced. Henceforth, a 10% tax will be levied on capital gains and stock dividends but the percentage could be lowered to 5% in some cases. The taxes are expected to generate between 3,5 and 4,5million Egyptian pounds. The new law was approved by the […]
Egypt’s Minister of Investment Ashraf Salman has shown his determination to revive the economy if there is political stability. He has fixed the bars for his term in office as he set his sights on increasing the Foreign Direct Investment (FDI) by almost 100%. In 2008, Egypt’s FDI reached $13,2billion but shrunk drastically after the […]
Egypt’s new cabinet will be sworn in on Tuesday and most of them are familiar faces. The information was announced by the Cabinet spokesman, Hossam El-Kawish, after Prime Minster Ibrahim Mehleb finally formed his government. With the economy struggling and the law courts busy, much of the attention was given to those who were nominated […]
Congratulatory messages have started flowing into Cairo from the international community after ex-Field Marshall Al-Sisi was announced as the winner of the presidential elections. His victory didn’t come as a surprise to many. Egypt faces challenges that have to deal with security, stability and reconciliation. Al-Sisi in his speech to the nation said the time […]
Al-Sisi is defiant to publish his entire program because he believes some of it could jeopardize national security. There have been demands for him to present his plans to Egyptians just like his presidential opponent but the Former Field Marshall remains adamant and continues to dominate the race for Egypt’s presidency. Polls will be opened […]
Criticisms are being directed at al-Sisi for distributing light bulbs ahead of elections. His campaign team claims that the distribution of almost 300,000 Light Emitting Diode (LED) is part of government’s efforts to reduce energy consumption but the electoral commission thinks otherwise. The LED bulb campaign launched under the slogan “Egypt can survive with conservation” […]
Preparations are in high gear for the presidential elections in Egypt prompting presidential candidate Hamdeen Sabahy to launch an early kick-off even though campaign is set to begin on Saturday 3rd May as dictated by the Presidential Election Commission (PEC). He has been informed of the violation. Al Sisi’s campaign group said they will wait […]
Egypt’s tourism sector is still to recover from the effects of the revolution. The Ministry of Finance announced that the revenue generated from the sector has been on a drastic fall for the past few years. The Governor of Giza, Ali Abdel Rahman, is optimistic that the future of the tourism industry is bright as […]
Russia could be on the verge of signing an agreement with Egypt as reports claim that a delegation of advisers is in Cairo to meet with officials. Egypt is expected to buy 24 advanced MiG-35 fighter jets as part of its switch towards using Russian military hardware. Negotiations have reached advanced stages. The MiG-35 jets […]
After Abdelaziz Bouteflika claimed a “crushing victory” in his bid to win a fourth term as Algeria’s leader and his main rival, Ali Benflis, has accused him of a “massive fraud”, Egypt seems to be headed to a similar scenario: While Egypt’s interim government has characterized the upcoming election as an important step towards democracy, […]