First Independent Mena Newspaper
Egypt plans to issue a new $1.8 billion bond by the end of November and a new $10 billion Eurobond program next year, Finance Minister Amr El Garhy said on Monday. According to the official, the finance ministry would determine the currency of its next Eurobond issuance within two weeks. “The issue will be in […]
Egyptian Defense minister on a visit to South Korea has told host officials that the North African country has severed military ties with North Korea, meeting therefore a demand by the United States as condition to unfreeze military aid. The announcement was confirmed to the public by the South Korean news agency Yonhap, which cited […]
The US Administration has set six conditions to be met by Cairo before it unfreezes the military aid it cut last week, London-based The New Arab reports. Washington decided last week to delay $195m in military aid to Cairo because of concerns over Egypt’s human rights record, the ratification in May by President al-Sisi of […]
The Egyptian interior ministry announced it clamped down on a private hospital and arrested 12 people including medial staff involved in human organ trafficking, in Giza province, part of greater Cairo. The detained include three doctors, four nurses, three hospital workers and two agents. The ministry said the arrestees who form a network, “agreed with […]
The US State Department denied Egypt $96 million in aid and delayed $195 million in military funding because of concerns over Egypt’s human rights record and its cozy relationship with North Korea. Sources from the State Department confirm that Secretary of State Rex Tillerson authorized the $195 million to be held in reserve until Egypt […]
The European Bank for Reconstruction and Development (EBRD) and Proparco have contributed $58 million each for the construction and operation of two 50 MW solar photovoltaic power plants in Egypt. These plants are the first two projects to be financed under Egypt’s ambitious feed-in tariff scheme for renewable and will be part of the planned […]
Egypt has convened Libyan factions involved in the political process in the oil-rich North African country, asking them to establish modern democratic state and end polarization. Egypt’s Chief of Staff, Lieutenant General Mahmoud Hegazy, who heads the Egyptian committee mediating the Libyan crisis, this week held three-day talks with Libyan delegations from the cities of […]
A new military base, the largest in the Middle East and Africa, was inaugurated over the weekend and baptized after the leader of the 1952 Egyptian revolution and the country’s first President, Mohamed Neguib. The military base, consisting of more than 1,100 new or recently renovated buildings, was built on what used to be a […]
While the tourism sector in Egypt was hardly showing signs of recovery, terrorism once again touched this core of the Egyptian economy, with consequences likely to be catastrophic. Following the knife attack targeting tourists at the resort of Hurghada on the Red Sea, on July 14, the Egyptian government has strengthened security measures around major […]
Egypt expressed concern over the countries, which do not respect the UN Security Council resolutions imposing sanctions on terror groups, singling out Qatar for what it called its pro-terrorism policy. Egypt’s Deputy UN Ambassador Ihab Awad Moustafa went in a tirade against Qatar before the UN Security Council after the adoption of a resolution renewing […]