First Independent Mena Newspaper
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 […]
In a bid to boost its tourism industry, Egypt has come up with the plan of exempting neighboring countries in the North African region from visa procedures when they are entering the country as tourists. It is being reported that only Libya, Tunisia, Morocco and Algeria are part of the exempted countries that will no […]
Archaeologists in Egypt have made a great discovery. They have discovered the pyramid of one of the most influential person during the era of the pharaohs. According to the minister for antiquities, Mohammed Ibrahim, a pyramid dating back to more than 3,000 years which was built for an advisor to King Ramses II has been […]
According to the analyses of the president of Canada’s International Development Research Centre (IDRC), David Malone, the 4.8 billion International Monetary Fund (IMF) loan is insufficient to end to end Egypt’s economic woes. President Malone is in Cairo when he said that what Egypt needed is not a “western tailored” development model. Malone, a renowned […]