First Independent Mena Newspaper
At the end of his two-day visit to India, the Egyptian president has expressed his expectations of joining the group of fast growing economies known as the BRICS; an acronym for Brazil, Russia, India, China and recent member South Africa. President Morsy was speaking at a business forum when he said “Egypt is hoping to […]
President Morsi’s state visit to India has been marked by the signing of multiple pacts in different domains to take their bilateral relation and cooperation to “another level”. Prime Minister Manmohan Singh said talks were “extensive and very productive” pointing out that they both have enormous potential for deepening cooperation across the full spectrum of […]
Good news is coming out of Egypt’s Sukari gold mine. Centamin has announced that it is expecting more than a 20% increase in its production this year. The company which is focused on mineral exploration, development and mining has been achieving positive results for the past couple of years. Some of the company’s expansion projects […]
The Egyptian government has set aside several development and investment projects despite the ongoing crisis as revealed by the ministers of the civil aviation and investment respectively. The Civil Aviation Minister, Samir Embaby Mewaly, has announced that the government will be pumping $20 million in a project aimed at developing the vicinity of the capital’s […]
World Bank has pumped a quarter of a billion dollar in Egypt to create job opportunities. The money is channeled through labor-intensive projects with the objective of developing skills and easing the employment of people. Priority is being given to those in the poorest areas of the country such as Upper Egypt. The bank’s country […]
Plans are underway to enhance struggle against money laundering in Egypt through the issuance of personal certificates for Islamic Sukuk bonds. The plans were designed at the request of the head of the Financial Supervisory Authority in Egypt, Ashraf al-Sharqawy, who argued that such certifications will prevent money laundering. During a meeting with members of […]
The U.S.A has released a quarter of a billion dollar in economic aid to Egypt and has pledged more if Egypt implements economic and political reforms.U.S. Secretary of State John Kerry described the gesture as a “good-faith effort.” After holding meetings in Cairo during the weekend, Kerry said the United States would provide the first $190 million […]
Egypt’s Minister of Finance, Mursi Hijazi, revealed that the country is losing about 100 million pounds per day because of insecurity and political unrest and that workers’ repeated strikes have also contributed to the losses. According to the minister, “the losses are caused by various disruptions, such as sit-ins, protests, cutting off roads and breaking […]
Nineteen foreign tourists from Britain, France, Japan, Hong-Kong, China and Hungary were killed in a hot air balloon crash that occurred Tuesday near the Egyptian city of Luxor The balloon was at 1,000ft (300 m) when it caught fire and plunged into fields west of the ancient city. This tragedy, the world’s worst ballooning accident, […]
After opening its doors to Arab tourists, Egypt has now turned onto the Public-Private Partnerships (PPP). It is inviting all foreign investors to increase their involvement in such partnerships especially those from Britain. The finance minister, Al-Morsi Hegazy, said it will help the investors “profit from promising opportunities.” The minister made these remarks shortly after […]