First Independent Mena Newspaper
The popular uprisings and political turmoil rocking the region of North Africa and the Middle-East since 2011 have dealt a hard blow to the sector of tourism that suffered losses going up to $ 15 billion, according to Arab Tourism Organization (ATO). At a meeting held lately in Jeddah (Saudi Arabia), ATO president Bandar Al-Fuhaid […]
Egypt is considering a U-turn to international bond markets a few days after Morocco capitalized on cheap borrowing costs to reopen old bonds and raise $750 million. Its return will be the first time since the end of the revolution, after the new law allowing the country to issue Islamic-compliant bonds for the first time. […]
Egyptian stock markets began the week in a state of stagnation with almost no news to inspire the local market. However, one of the big icons of its market, Orascom Telecom Holdings was nearly taken out of the exchange list after almost 10% of its shareholders were bought out. The delisting of the telecommunication firm […]
Cairo’s central museum located at the Tahrir Square is staring at country’s ancient artifacts degrade to irreversible state due to the lack of funds. Experts have warned that the artifacts are being kept under poor conditions and have called for action. The museum is filled with relics from the prehistoric, Roman and predominantly the era […]
The Shura Council’s last week decision to raise taxes on bank loan provisions has generated discontent from the banking sector, after the amendments were submitted to the legislature without being discussed at the Shura. Banks in the country criticized the move which was initiated by a parliament member from Muslim Brotherhood’s Freedom and Justice Party. […]
Shortly after Prime Minister Ali Zeidan’s return from an overnight visit to Egypt, a source close to his cabinet have revealed that the visit was centered on developing bilateral economic relations amongst which is the establishment of a free trade zone. Part of Prime Minister Zeidan’s visit was aimed at how to get Egyptian companies […]
Technology giant, Samsung Electronics has announced that it will be establishing a factory in Egypt; making it the first of its kind by the company in the MENA region. The factory which will be located at the Kom Abu Radi Industrial Zone in Al Wasta City, Beni Suef will be covering 336,000m². The announcement was […]
The National Council of the Istiqlal Party decided on Saturday to withdraw from the Moroccan coalition government led by the Islamist Party for Justice and development (PJD). The decision was not a surprise to analysts who see in it the normal outcome of the fierce and controversial opposition the Istiqlal Party’s Secretary General Hamid Chabat […]
Oil minister Al Arusi has announced that they will be joining the campaign against the sensitive fuel market reforms and will also be scrubbing off oil subsidies, which take more than 10% of the budget, before the end of 2016. The decision to remove fuel subsidies on all types of fuel is blamed on smuggling […]
President Mohamed Morsy is currently on a working visit to Brazil and has urged its businessmen to invest in Egypt in order to increase trade between the two countries. Egypt is the biggest trading partner of the Latin American country in Africa and transactions between them have always been on the rise for more than […]