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Egypt index gained 0.4 percent to 6,748 points.
A few weeks ago, in his regular New York Times column, Thomas Friedman applauded the “radical evolutions” taking place across the Arab Gulf, dubbing them “The Other Arab Awakening“. Friedman makes the sweeping claim that, “in the wake of the Arab Spring, [Gulf leaders] are deeply concerned with their legitimacy, which they are discovering can …
By Farah Halime Nestled in the heart of downtown Cairo is the opulent headquarters of Arab International Bank, a secretive bank that has allowed kleptocrats to funnel money out of the country for decades with barely any regulatory oversight. The bank, established in 1974 by a treaty signed by Egypt, Libya, Qatar, Oman and the UAE, is exempt …
By Farah Halime One of the key markers of a thriving economy is whether investors are committed. For Egypt, attracting investors has remained a point of contention in the last three years – are they or are they not putting money in Egypt? Marshall Stocker, an American venture capitalist, was among a band of businessmen drawn …
The ministry intends to extend the sanitation system to 131 villages, as well as a project establishing new silos with a storage capacity of 1.5bn tons
Foreign Minister calls for all countries in the region to reassess their approach to security
Some private sector Gulf investors have said they would not come back to Egypt without collateral to secure their funds, in response to judicial cases raised against their projects following the 2011 ouster of former president Hosni Mubarak.
“Minister of Tourism Hisham Zaazou will meet a Gulf delegation including a number of Gulf investors to discuss establishing a group of projects complementary to the hotel capacity in the Red Sea touristic cities.”
Any IMF deal would require economic reform commitments that the government might find politically risky
Egypt seeking investment from its Gulf Arab friends; Business ties with Qatar hurt by political dispute
By Peter Schwartzstein It must be remarkably gratifying -even amusing – for many Egyptians to watch the United States scrambling to get back in their interim government’s good graces. How tempting it must be to throw John Kerry’s increasingly flattering overtures back in his face and kick the US to the curb after its supposed …
Independent unit to manage small- to medium-sized projects will be launched before the end of this year
New mortgage and savings certificate products were released during the last quarter
Dubai-based Emirates led the buying spree on Sunday with an order for 150 of Boeing’s new 777 mini-jumbo, in a deal worth $76bn at list prices.
The interim president travelled to Kuwait and UAE, returning to Egypt on Friday
Al Maktoum has renewed his country’s support of Egypt in order to face current challenges
By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …
Interim president Adly Mansour expected to visit Kuwait soon
By Farah Halime, Rebel Economy We may not like it, but Egypt desperately needs Gulf money. So why not change the way the Gulf lends money to Egypt to make it count. It won’t be just about wasting away cash to address a symptom without resolving the underlying problem. Indeed, without Gulf aid, the government would have …
UAE’s prince Mohammed bin Zayed Al-Nahyan pledged to send $ 2bn additional aid to support Egypt
UAE prince and deputy commander Nahyan reiterates his country’s support for Egypt’s interim government and military
The rates of internal tourism were “good” before and during the month of Ramadan, and further improved during the days of Eid Al-Fitr vacation
Head of Arabian House of Consultancy for Financial and Economic Investment says aid a reflection of “a conflict, and to show loyalty and support to Egypt.”
By Juan Cole Whatever the reasons the US public is less excited about Egypt’s ongoing revolution, the country is in fact important to the US. A Pew poll shows that far fewer Americans are following events in Egypt closely now than in January-February 2011. Actually, about the same percentage are following it “fairly closely” as …
Majid Al-Futtaim Holding meets investment minister to discuss project worth EGP 3.2bn
Vacation planners serving Gulf tourists can enjoy incentives including discounts on EgyptAir flights as well as at some facilities, with the aim of luring larger numbers of Arab tourists to the country.
The financial support is said be distributed on the 27th of Ramadan, 5August; however no official statement was issued by the ministry.
Aide to the Minister of Planning: Financial aid received from Arab countries will begin to be converted next week
Investment groups pursue stakes in Egyptian supermarkets
By: Ayman Abd Al-Hafiz “When the Grand Imam of Al-Azhar is invited to a country that is not capable of existing in harmony with Egypt, the country to which Al-Azhar traces its heritage as an institution, this opens the door to doubt and a series of speculations regarding the trip’s motives, a fact which may lead …
By James M. Dorsey Football is defeating efforts by wealthy Gulf States to impregnate themselves against the wave of protests that have swept the Middle East and North Africa in the past two years and sparked a brutal civil war in Syria. Once a prince’s uncontested playing ground that allowed royals to curry favour, strengthen …