First Independent Mena Newspaper
After weeks of procrastination, hesitation and standoff between the Egyptian interim government and supporters of the Islamist president Mohammed Morsi, ousted by Gen. El Sissi, the security forces moved in to break up sit-ins and protest camps set up in Cairo by Muslim Brotherhood supporters demanding Morsi return to power. But the hardline move by […]
Authorities overseeing the Egyptian General Petroleum Corporation (EGPC) are considering the conversion of their debts of more than $5 billion into bonds. The idea came as proposals and discussions with the Egyptian Central Bank to scrutinize it have resulted in a positive outcome. These debts are owed to foreign oil companies operating in the country. […]
Egypt’s Minister of Finance, Dr. Ahmed Galal, has declared that the government will increase its spending or at least maintain it without increasing taxes or imposing new ones. He claimed the government has “multiple resources” to support its budget. Morsi’s government tried to reduce public spending as requirements for a loan from the International Monetary […]
Many North African and Middle Eastern countries are in a state of great uncertainty. The struggles and revolutions of the Arab Spring struck down many oppressive governments, but violence has spread beyond North Africa and given way to insecurity in many states that were beyond the epicentre of the events – and these conflicts are […]
Simon Kuznets’ inverted U-shaped curve representing the hypothesis that with economic growth country’s inequality level initially increases and then decreases after reaching certain average income level has not yet found much support among the MENA economies. The MENA region has traditionally belonged to the most equal parts of the developing world as supported by the […]
Africa had its fair share of military power-grabs – actually, it had a good deal more than that. Throughout the Cold War, military coups were the rule, not the exception. And Egypt, the bridge between the African and Arab worlds, was no stranger to coups. After all, it was a coup by the Free Officers […]
Shortly after EU’s Catherine Ashton announced that she had an open and frank discussion with Mursi, the White House is planning to send John McCain and Lindsey Graham to meet Egyptian officials as early as next week. Both of them are republican senators for Arizona and South Carolina respectively. They have also met members of […]
Egypt could be taken an unprecedented turn on Friday if the calls of General Al-Sisi for a nationwide demonstration aimed at giving “(Al-Sisi) a mandate and an order to confront possible violence and terrorism” is heeded. He claimed that it will lead to the reduction of bloodshed and promote national reconciliation. The Muslim Brotherhood slammed […]
In 2010, Chinese foreign direct investment (FDI) accounted for approximately 68 billion USD, as compared to 2001, when China invested only 911 million USD overseas. The rapid increase in FDI between 2001 and 2010 was also facilitated by China’s ‘going global policy’ of 2002 that promoted competition for the share in global markets and natural […]
Officials of United Arab Emirates Telecoms Authority have claimed that they have dealt with a cyber-attack originating from Egypt against government websites. Officials linked the attack to the support rendered by the United Arab Emirates to the transitional government, which has replaced Morsi’s government since his removal by General Al Sisi. Cyber-attacks and cyber espionage […]