First Independent Mena Newspaper
Egypt’s economy might be heading for the worst as the board of the International Monetary Fund (IMF) meets in a few weeks to consider almost a $5 billion financing agreement amidst political crisis in the country. The board will be requiring that there is no major change in economic outlook or policy when it makes […]
Egypt and Tunisia will shortly recover the assets that were frozen under sanctions decreed by the European Union against their former presidents Hosni Mubarak and Zine El Abidine Ben Ali, who were both toppled in Arab Spring uprisings. The Council of the European Union announced Monday that the EU took steps to facilitate the return […]
President Morsi’s outstanding powers has led to demonstrations in the streets demanding him to relinquish them and it has made it effects on Egypt’s benchmark stock index is as it fell by almost 10% in the first trading session since the presidential decrees. The ongoing political tensions in an already paralyzed economy spread swiftly through […]
The decision of the regulator of the Egyptian market to push further the deadline of the sale of stakes of Qatar National Bank (QNB) has led to the slump of Egypt’s National Société Générale Bank (NSGB) and it has made an impact on the Cairo bourse while leaving the Gulf markets mixed in lackluster trading. […]
Egypt has purchased ten Turkish-made ANKA drones after months of secret negotiations between the two countries before reaching deal, first of its kind after the fall of former President Hosni Mubarak in a popular uprising in 2011. With a 56-foot wingspan, the unmanned aerial vehicle (UAV) has the ability to fly 24 hours at a […]
Bidding announced by the Egyptian Natural Gas Holding Company (EGAS) to sanction the importation of Liquefied Natural Gas (LNG) by the private sector for first time in Egypt has expired although some major oil and gas companies withdrew. Companies such as British Petroleum, Royal Dutch Shell, the Kuwaiti Kharafi Group and Taqa Arabia, a subsidiary […]
When the 26-year-old fruit vendor, Mohammed Bouazizi – after being slapped around by local authorities one time too many – in an act of desperation and protest, set himself on fire in the Tunisian city of Sidi Bouzid, no analyst or politician could have foreseen the wave of regional uprisings that were to follow. What […]
Crescent petroleum, a United Arab Emirates based company is eyeing investments into Libya’s oil and gas sector. The company has no investments of such in Libya but it is no stranger to the sector because it is already active in Iraq and Egypt. The chief executive of the company, Majid Jafar told reporters at the […]
It is common today to associate Salafism with radicalism, nihilist violence and failed states. In fact, Salafism is a heterogeneous religious and political tendency. Salafis agree on the glorification of the early Muslim community, its religious texts, its supposed unity, its energy and moral conduct. However, they differ considerably on the way to revive this […]
One of the biggest investment bank in Egypt has reported an 18.8 % decline in its net profit for the first nine months which fell to 232.1 million Egyptian pounds ($38 million) from 286 million pounds. EFG Hermes made this announcement in report of its third quarter consolidated financial results. EFG Hermes said its net […]