First Independent Mena Newspaper
Stock markets in Egypt suffered another major loss with fingers pointing at different reasons after a successful 3month recording of gains. The main index slide by 3,5% but the Egyptian pound rose against the US dollar. Investors are skeptical about Egypt’s future especially with the fast approaching May presidential elections coupled with the continuous violence […]
British Prime Minister, David Cameron, has ordered Whitehall officials, drawing on assessments by MI5 and MI6, to conduct a review into party’s alleged links to extremism in light of the mounting speculations that the group could be banned in the United Kingdom. A Downing Street source confirmed that the investigation would examine claims that the […]
In an unprecedented move by Egypt’s judiciary, 529 people have been sentenced to death in the south of the country. After only two court sessions, a judge in the southern Egyptian city of Minya issued the verdict and harsh sentences. The convicted who are reportedly supporters of deposed President Mohamed Morsi, were accused of involvement […]
“The reserves will continue going up.” These are the words of the Governor Hisham Ramez to assure investors and restore confidence in Egypt’s economy. The country’s reserve has fallen by more than 50% since the departure of President Hosni Mubarak. Gulf States have pumped in billions to salvage the economy after the ousting of President […]
Egypt’s foreign ministry has reacted to the joint statement signed by the U.K, France, Germany, Japan, Turkey, the US and 21 other European countries by summoning their Ambassadors. The joint statement called on Egyptian authorities to respect the rights and liberties of individuals following the crackdown on protesters since the arrival of the military backed […]
A believed-to-be terrorist actwas carried out on Sunday when a bomb denoted inside or beside a tourist bus in Egypt’s Sinai headed to Israel. It has left at least two South Koreans and the Egyptian driver dead while 24 people were wounded. Reports of the two South Korean deaths were confirmed by the country’s foreign […]
On a two-day visit to Moscow, Egyptian army chief Field Marshal Abdel Fattah al-Sisi was on Wednesday accompanied by Foreign Minister Nabil Fahmy to seal a lucrative arms deal and discuss areas of cooperation “in multiple fields”. The US$2 billion arms deal will mainly be funded by Saudi Arabia and the UAE. The expected Russian […]
Egypt’s central bank has lately taken some exceptional steps to help the Egyptian pound and restrain the black market in foreign currencies. Despite the central bank’s effort, the currency black market is thriving around the country, which suggests that the limits of the economic recovery since the fall of ex-President Morsi in July last year […]
An Al Jazeera cameraman who has been in detention in Egypt has been acquitted along with 61 other defendants. The men, most of whom have reportedly ties to the outlawed Muslim Brotherhood, were accused of organizing demonstrations followed by clashes in Cairo as well as of an attempted murder. Morsi’s supporters were protesting against his […]
A presidential bid by the Egypts’s army chief Abdel Fattah al-Sisi has been endorsed by the country’s military body earlier this week. The announcement came just hours after Sisi was promoted to field marshal. Sisi who has not yet officially announced his intentions enjoys wide popularity throughout the North African country where he is largely […]