First Independent Mena Newspaper
In what seems to be a desperate call due to the continuous deteriorating economic situation in his country, Egypt’s president Mohamed Morsi has launched a “Save in Egypt” campaign while paying a short visit to Germany. The campaign is mainly targeting Egyptian expatriates who are called to support their native country’s economy by depositing part […]
The new governments formed in the aftermath of the Arab Spring are facing the challenge of creating rights-respecting democracies, says Human Rights Watch in its “World Report 2013”, wondering whether these new Arab governments will produce a genuine democracy and fall back into dictatorships. In its 665-page report, HRW says “the creation of a rights-respecting […]
Criticism has started coming from Egyptian big companies which complain that they are being neglected by the government. They blame the government for undermining their role and for harming the economy at large. A new cast of Islamists has emerged at the lead of business despite promises of a “Renaissance Project” by the government. Nassef […]
Egypt was pinning great hopes on the International Monetary Fund (IMF) promised loan to boost its economy, stabilize the country and attract investors and tourists anew. The country is in dire need of this loan also to inject cash in the state’s reserves as foreign currency reserve can barely cover 3 months of imports and […]
Egypt might be taking a new approach towards small and medium-sized enterprises (SMEs) in the economic sector after a report was submitted to the National Bank of Egypt (NBE). The report which was overseen by the deputy head of the small and medium-sized enterprises division, Saad Mohyeldeen, has proposed 10 suggestions. The most significant among […]
While French troops are treated and greeted in Mali as liberators rather than as foreign occupiers, Egypt’s Islamist president Mohamed Morsi has expressed opposition to France’s military action launched to dislodge the Jihadist fighters linked to Al Qaeda occupying the northern part of the impoverished West African country. “We do not accept at all the […]
Mansour group is planning to sell its supermarket chain, Metro, and discount grocery store Kheir Zaman. Majid Al Futtaim (MAF) has set its eyes on the supermarket in a deal estimated around $200 to $300 million. Egypt’s largest supermarket chain is Metro. It is present in 10 cities with more than 40 outlets. MAF gained […]
A recent report conducted by the Investors Union stated that approximately 1500 factories in Egypt have either closed or are operating at reduced capacity. Production has been falling since the economic crisis began and the number of factories to close will be increasing especially those importing raw materials to be used in local production. The […]
It seems that Egypt is heading for more trouble and showdown between the Muslim Brotherhood and the Liberals as the country braces for the re-trial of the toppled former Egyptian President Hosni Mubarak. This retrial is a real test of the independence of the judiciary system under the Muslim brotherhood-led government. Mubarak, who was sentenced […]
Egyptian security forces have captured lately six U.S. made anti-tank and surface-to-air missiles that were on their way to be smuggled into the occupied Palestinian Gaza Strip. The weapons, which were intercepted in the Sinai desert, are believed to have come from Libya and to have been manufactured by U.S. firms. But some experts cast […]