Egypt Finance Headlines

Egypt to Receive IMF Bailout

An International Monetary Fund delegation is expected in Cairo this weekend to discuss a multibillion-dollar support program for cash-strapped North African country. The Egyptian economy has been hit badly by terror attacks and political unrests. The country has been suffering from severe foreign currency shortage since the beginning of the year. This was mainly because […]

Headlines Morocco

More Countries Support Morocco’s Return to African Union

More countries have joined the group of 28 member states of the African union, which addressed last Monday a motion to the AU chair expressing support to Morocco’s return to its African family and demanding the suspension of the self-proclaimed Sahrawi Republic from the pan-African organization. In this vein, Egypt’s Ambassador in Rabat, Ihab Jamaleddine […]

Africa International

IMF Slightly Upgrades Growth Forecast for MENA Region

The International Monetary Fund (IMF) raised its 2016 growth forecast for the Middle East and North Africa on the backdrop of a slight increase in oil prices, but maintained its cautious outlook for Saudi Arabia. The Washington-based Fund said in its July 2016 World Economic Update report that the Middle East, along with Pakistan and […]

Egypt Headlines

Egypt: AI Sounds the Alarm over Unprecedented forced Disappearances

London-based human rights group Amnesty International (AI) has sounded the alarm over the spike in forced disappearances occurring in Egypt as authorities strive to silence dissident and outspoken voices criticizing the regime’s crackdown policies. AI reveals in a report released Wednesday that forced disappearances have become a tactic to quash critical voices opposed to Al […]

Egypt Headlines

Egypt: Roadside bomb blast kills two police officers in Sinai

Two Egyptian police officers travelling in a patrol Monday lost their lives as a roadside bomb went off in Arish city, capital of the North Sinai province. A statement by interior ministry said three other security forces were wounded in the blast. The officers’ vehicle was hit by the blast of a bomb apparently planted […]

Egypt Headlines

Egypt: Militant Attacks Kill Christian Priest & Two Security Personnel

IS-affiliate Islamists killed a Christian priest and two security personnel in turbulent North Sinai in separate attacks on Thursday, authorities said. The Coptic priest named Raphael Moussa, 46, was reportedly gunned down by a militant who shot him in the head as he was standing next to his car in al-Arish, the capital of North […]

Egypt Headlines

Egypt: Smoke in EgyptAir A320 before Crash, Black Box Confirms

Analysis of the data recorder of ill-fated EgyptAir flight MS 804, which crashed last month shows there was smoke in aircraft before it hit the sea, investigation commission told media on Wednesday. “Recorded data is showing a consistency with ACARS messages (the plane’s automated reporting system) of lavatory smoke and avionics smoke,” The Egypt-led commission […]

Egypt Headlines

Egypt Could Secure $10 bln from IMF – Central Bank

Egypt could secure up to $10 billion from the International Monetary Fund (IMF) by agreeing to a structural reform program, the central Bank said on Monday. The announcement follows an earlier comment by a cabinet minister on Monday that Egypt had last week started negotiations with the IMF for a $5 billion loan. Since the […]

Egypt Headlines

Egypt to Commemorate Coup d’état against Morsi with a Public Holiday

Three years after the ousting of President Mohammed Morsi at the end of one year in office in July 2013; the Sisi administration has announced that June 30 will be a public holiday for the public sector and government employees. The decision made by Prime Minister Sherif Ismail said it will be a paid day […]