First Independent Mena Newspaper
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 […]
As elections draw close this year, Egypt aims at attracting foreign currency into the country after investments almost dried up following the revolution which overthrew Hosni Mubarak in 2011. This cause, aimed at easing social discontent and creating jobs, is supported by state-linked investors and Dubai retailer Majid Al Futtaim. The company is the holder […]
The 14th of January marked the third year anniversary of the Tunisian revolution which went to sweep the North Africa and the Middle East. There was little to celebrate about on the day due to violence which marred the country. The constitution also missed its deadline once more as voting continues in the Assembly. Tunisians […]
The military backed interim government will be embarking on its second economic stimulus package with an amount of 30 billion Egyptian pounds after allocating 29,6 billion in the first operation. Finance Minister Ahmed Galal said the package will be financed by state funds and aid received from the Gulf States. Egypt’s economy has been on […]
The divergences in Iran’s nuclear program have reached new levels as parties worried about it speak of “war”. Tehran continues its uranium enrichment program much to the dislike of some regional and western countries. The nuclear program is regarded as a national right and pride in Iran. In the US, members of both houses of […]
Saudi Arabia rounded up thousands of newcomer workers following the expiration of an amnesty introducing new employment rules. It is estimated that about a million of Indians, Pakistanis, Bangladeshis, Filipinos, Nepalese, and Yemenis have left the country in the last three months in contrast to four millions of other workers who managed to get a […]
Israel has shown concerns about United States announcement to suspend some of its aid to Egypt unless it is satisfied with its democratic efforts could jeopardize the long standing peace treaty. Israel and Egypt signed a peace treaty in 1979 to end hostilities against each other and the US aid has been fundamental in maintain […]
After President Obama gave warning signals to Egypt during his speech at the UN General Assembly about its “inconsistent with inclusive democracy,” he has decided to take actions. The US has reduced its military aid to the country and linked its continuity to “Egypt’s progress in pursuing a more democratic path.” Cairo has not officially […]
The Governor of the Egyptian Central Bank, Hesham Ramez, confirmed that Qatar has agreed on the conversion of its $2 billion that it has deposited in the Central Bank during the era of President Morsi into bonds. The transactions are expected to take less than a week according to media reports. The Qatari government had […]
Violence in Egypt can reach new heights as pro-Morsi supporters prepare to hold “Friday of martyrs” demonstrations. The march will be in honor of the hundreds of people who have lost their lives in the standoff against the military. The leaders of the previous demonstrations are from the Muslim Brotherhood. Most of them have been […]