First Independent Mena Newspaper
Egypt’s Tourism Minister, Hisham Zaazou, has decided not to be pulled back by the sporadic violence and bombings to promote and develop what was once a renowned industry and an important sector of the economy; Tourism. He is targeting tourists from around the globe to revive the vibrancy of the sector. Almost 2,5million Russians visited […]
Amid deep political turmoil, there is a mounting concern in Egypt as Ethiopia forges ahead with its plan to build the $4.8 billion Grand Renaissance Dam on the Nile’s main tributary. The hydroelectric dam, to be Africa’s biggest, sounded the alarm bell for Egypt due to its possible impact on the flow of the river. […]
The European Bank for Reconstruction and Development (EBRD) has placed a great deal of interest in the Egyptian private sector and with a total budget of €688m dedicated to investments in 30 projects in Egypt and other regional countries such as Morocco, Tunisia and Jordan. With nine projects over the past 18months, the bank has […]
In fiscal year 2013, the World Bank (WB) has supported 16 projects worth 2.1 billion USD, out of which 1.8 billion USD came from the International Bank for Reconstruction and Development (IBRD) and 249 million USD from the International Development Agency (IDA). 56.4 million USD were committed separately for the West Bank and Gaza. On […]
Egypt has denied the claims of an Israeli Minster that the shortage of gas has forced them into buying gas from Israel. Although Egypt is experiencing gas shortages, it denied contacting Israeli authorities for a possible gas deal. An unpopular 20-year gas supply deal to Israel from Egypt under the Mubarak regime was terminated by […]
Simon Kuznets’ inverted U-shaped curve representing the hypothesis that with economic growth country’s inequality level initially increases and then decreases after reaching certain average income level has not yet found much support among the MENA economies. The MENA region has traditionally belonged to the most equal parts of the developing world as supported by the […]
A statement released by United Kingdom’s foreign ministry has stated that the government, in partnership with several international financial institutions, will be holding a Deauville Partnership Investment conference in September. The conference is aimed at promoting investments, trade and supporting new investors in transitional countries marred by the Arab Spring. The European Bank for Reconstruction […]
Libya has applied to become a partner of the Organization for Security & Co-operation in Europe (OCSE) in a bid to receive support from this international security body and benefit from its assistance in matters of security, arms & border control, promotion of human rights, freedom of the press and polls’ organization. The Libyan application […]
In the mid of the 2008 financial meltdown, countries from the periphery injected their hard-won money into the rescue of Western financial institutions and near-defaulting governments. Those events have definitely cleared the way for the arrival of new powers on the international scene, showed in the rush at calling up an enlarged G-20 in early […]
The fourth ministerial meeting of the international “Friends of Syria” group meeting in Marrakech on December 12 has recognized the newly formed Syrian opposition coalition as “the legitimate representative of the Syrian people”. The recognition is announced in the declaration endorsed Wednesday by the over 100 delegations that attended the meeting, including from the US, […]