First Independent Mena Newspaper
As Egypt’s fiscal year for 2017-2018 will be commencing on July 1, the Finance Ministry has announced that a “social package” aimed at easing the pain of the ongoing austerity measures will be included in the budget. More than 90% of the citizens will benefit from the package through food subsidies, tax breaks and increment […]
Egypt’s highest administrative court Tuesday issued a new verdict opposing Egyptian parliament’s approval of government decision to surrender Tiran and Sanafir islands in the Red Sea to Saudi Arabia. The Tuesday ruling is the second by the court. The court, the highest judicial entity to settle administrative disputes, last year ruled against the Egyptian government’s […]
A criminal court in the Egyptian capital Monday pressed a ten-year condemnation against First Lt. Yaseen Hatem accused in 2015 for killing political activist Shaimaa Al-Sabbagh on the fourth anniversary of the Egyptian 2011 revolution. The Monday ruling is the second verdict on the case after another court condemned the officer to 15 years in […]
Millions of commuters across Egypt will benefit from a €290 million financing provided by the EBRD to support the Egyptian National Railways (ENR) in its fleet expansion and upgrade of services. As part of ENR’s locomotive renewal program, the EBRD will finance the acquisition of up to 100 new diesel locomotives under a supply-and-maintenance contract […]
The Egyptian parliament Sunday convened for a two-day session to review the controversial 2016 agreement regarding the handing over of the islands of Tiran and Sanafir to Saudi Arabia, despite a ruling in January by the High Administrative Court that said the agreement is unconstitutional and void. The ruling upheld the verdict of a lower […]
Egypt Thursday called for an UN Security Council inquiry into accusations that Qatar allegedly paid around $1 billion as ransom to a terrorist group in Iraq to secure the release of 26 Qatari hostages, including members of the royal family, egyptindependent.com reports. Egypt’s call came on the backdrop of the rift in relations between Qatar […]
In Egypt, a consortium nine local banks have pledged to invest about $1.5 billion in a project to increase the North African nation’s electricity capacity. The financing, granted as a loan, will benefit the construction of a coal-fired power station with a capacity of 6,000 MW in the Hamrawein area in the coastal region of […]
The US embassy in Cairo Monday instructed its staff to avoid religious sites outside Cairo as attacks against Coptic Christians multiply. The embassy said on its website that risk for possible additional attacks is still high. “Terrorists have attacked targets associated with the Christian community in Egypt. Incidents have occurred in both urban and isolated […]
Egyptian and Russian Foreign affairs ministers on Monday discussed bilateral and regional issues in Cairo including the resumption of flights between Russia and the North African nation. Moscow suspended passenger flights to Egypt, in the wake of the crash of a Russian jet in Egypt in November 2015. A group affiliated with Islamic State has […]
The EBRD has lent €186 million the Fayoum Water and Wastewater Company to enable improve living conditions of the local three million inhabitants through the development and expansion of wastewater services. The EBRD financing will be complemented by a loan of €172 million provided by the European Investment Bank, while the EU Neighborhood Investment Facility […]