First Independent Mena Newspaper
Over the past weekend, the Ukrainian government was ousted, Ukraine’s parliament reinstated the 2004 constitution and former President Victor Yanukovich is on the run in Russia. One might be forgiven to think of these developments in isolation. But it is in fact a reminder that reactionary regimes rarely deliver the sort of stability they are […]
The attack of last February 16 near the resort of Taba, claimed by Sinai-based Ansar Bayt al-Maqdis group, has heavily impacted Egyptian tourism as many Western countries have warned their citizens to avoid visiting Egyptian tourism sites, including in the Sinai and Taba. Meanwhile, Club Med has closed at least until the end of March […]
The Egyptian interim government led by Mr.Hazem El-Beblawi has announced Monday its resignation amid growing criticism over its poor performance and failure to deal with social and economic woes. It is the 6th government since the fall of Hosni Mubarak regime. Prime Minister El-Beblawy was appointed following the removal of elected Islamist president Mohamed Morsi […]
The European Bank for Reconstruction and Development (EBRD) has lent the National bank of Egypt (NBE) US$ 50 million to help and encourage Egyptian companies engage more in international trade operations. This trade credit line is the second part of a US $ 100 million facility, the first part of which comprised a US$ 50 […]
Egypt’s Minister of Trade and Industry, Mounir Fakhry Abdel Nour, said on Monday (17 February) that the energy problem in his country would carry on this year and there is no different option but to import energy to guarantee the operation of factories and ensure sufficient supplies for the industrial sector. In his opinion, the […]
A believed-to-be terrorist actwas carried out on Sunday when a bomb denoted inside or beside a tourist bus in Egypt’s Sinai headed to Israel. It has left at least two South Koreans and the Egyptian driver dead while 24 people were wounded. Reports of the two South Korean deaths were confirmed by the country’s foreign […]
Russian President Vladimir Putin said he supported Egypt’s Field Marshall Abdul Fattah al-Sisi in his bid for presidency. Mr Sisi visited Moscow in order to discuss an arms deal while Mr Putin used the occasion to mention that he was “aware” of Sisi’s presidency bid. Cairo has not delivered an official statement on the issue. […]
Three years down the road from the wave of Arab Spring revolutions that affected the Middle East and North Africa region, MENA economies remain depressed. Egypt’s gross domestic product contracted by about 3 percent in the second quarter of 2013 while the growth rate amounted to only 2 percent last year, when compared to 2.3 […]
On a two-day visit to Moscow, Egyptian army chief Field Marshal Abdel Fattah al-Sisi was on Wednesday accompanied by Foreign Minister Nabil Fahmy to seal a lucrative arms deal and discuss areas of cooperation “in multiple fields”. The US$2 billion arms deal will mainly be funded by Saudi Arabia and the UAE. The expected Russian […]
The European Bank for Reconstruction and Development (EBRD) has placed a great deal of interest in the Egyptian private sector and with a total budget of €688m dedicated to investments in 30 projects in Egypt and other regional countries such as Morocco, Tunisia and Jordan. With nine projects over the past 18months, the bank has […]