First Independent Mena Newspaper
A U-turn has been done by the government after criticisms by Islamic religious leaders concerning a draft law which will permit the government to issue sukuk. Making the announcement, the finance minister Al-Mursi Al-Sayed Hegazy said the revision of the draft law will be done after meeting with top officials of Egypt’s prestigious Al-Azhar university […]
Several developments have marked Egypt’s economic circle from different spheres in recent times leaving negative marks on the country’s desire to revive its economy and political crisis. The Prime Minister Hisham Qandil affirmed that they are dealing with major economic and democratic transition challenges. He added that the government is working on achieving the people’s […]
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 […]
Egypt plans to build a nuclear plant is on a temporal hold as it awaits implementations. However, officials prefer to wait for the parliamentary elections to be held first before making any move according to an official familiar with the affair. The nuclear project is considered as a national project and according to a source […]
Egypt’s Central Bank proclaimed their foreign reserves reaching the “critical” levels after it had sold about 75 million USD in its first private auction to banks, Bloomberg reports. Egypt’s foreign reserves are well below the levels prior to 2011 uprising against former President Mubarak, when the Central Bank commenced to support the Egyptian pound by […]
Representatives of International Monetary Fund (IMF) and the Egyptian government discussed the important $4.8 billion loan as the Egyptian pound continues on its dive with the foreign reserves depleting. Before the visit, the IMF said they will discuss recent economic developments and “possible IMF support for Egypt in facing these challenges”. It’s Middle East and […]
A notorious Algerian hacker wanted by the FBI has been captured lately at Bangkok’s international airport while travelling from Malaysia to Egypt. The hacker, Hamza Bendelladj, and his family had just spent their vacation in Malaysia. The U.S. authorities were hunting down Bendelladj for nearly three years for having hacked private accounts in more than […]
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 […]
During the inauguration ceremony of the National Initiative for Economic Launch, the Egyptian Prime minister said that there are expectations that some prospective investments can “help reduce the budget deficit” before the end of the year because these investments can go up to LE20 billion. These remarks came after saying that the transfer of funds […]
The government has sold 15% of its stake in mobile operator Tunisiana to the Qatar based Qtel group. The conclusion of the deal raises the stake owned by Qtel group in Tunisiana to 90% if stakes acquired directly and through subsidiaries are taken into consideration. However, the Tunisian government still holds on the remaining 10% […]