First Independent Mena Newspaper
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 […]
Egypt’s Orascom Construction Industries (OCI) said shareholders had approved its offer to acquire its ordinary shares listed in Cairo in exchange for cash or OCI shares listed in Amsterdam. Shortly after the report, the company’s shares rose 1.7% to 267.86 Egyptian pounds at the close in the capital, the strongest since January 22nd. The stock […]
International Finance Corporation (IFC), a member of the World Bank Group, has announced $6 million investment in Fawry, Egypt’s leading electronic payment provider, in an effort to promote financial services and encourage economic development across the country. IFC’s investment will help Fawry embark on expanding its network of payment terminals across the country to make […]
The Federation of Egyptian Chambers of Commerce asserted that business is back to Normal in Port Said after the deadly riots that shook the city last week. The Riots in which 40 people were killed erupted following the death sentences pronounced against 21 defendants sued for the killing of at least 72 Ahly football team […]