Modern Egypt
Egypt negotiating debt with Arab countries
Egypt is in talks with Saudi Arabia and the United Arab Emirates to buy Egyptian treasury bills to help the government reduce the highest borrowing costs since 2008. Egypt raised 7.5 billion pounds ($1.3 billion) through the sale of six-month and one-year treasury bills on Sept. 22. The average yield on 182-day notes advanced to... »
Entrepreneurship is alive and well in Egypt
Six months into its revolution, not only has Egypt’s tourism fallen dramatically, its unemployment rate rose from just under 9% to almost 12%, and its GDP fell by 4%. Over half of Egypt’s population is under age 29, and 90% of unemployed Egyptians are under the age of 30, an age bracket that carries... »
Antiquities ministry’s future uncertain
The current secretary general of the Supreme Council of Antiquities (which Zahi Hawass also headed before becoming the first and only minister of antiquities), Mohamed Abdel Maqsoud, supports abolishing the ministry and turning it into a council controlled by the cabinet. He explained that the antiquities sector funds itself independently and does not need government... »
Egypt Ministry of Antiquities to be scrapped
Egypt’s prime minister Essam Sharaf announced earlier in the week that Zahi Hawass was to be replaced by Abdel Fattah el Banna as minister of antiquities. But Sharaf reversed himself and decided to temporarily keep Hawass in his post. “Dr. El Banna has accused several of the antiquities employees of corruption and thus triggered much... »
Zahi Hawass removed from post in Egyptian government reshuffle
Zahi Hawass lost his job as Egypt’s antiquities minister along with about a dozen other ministers in a Cabinet reshuffle meant to ease pressure from protesters seeking to purge remnants of Mubarak’s regime. Hawass, 64, started out as an inspector of antiquities in 1969 and rose to become one of the most recognizable names in... »
European Union sends message of support to Egypt
“The successful democratic experience in Egypt is a major support for stability in the region and for Europe’s southern neighbours,” said Jose Manuel Barroso, European Union president during his two-day visit to Egypt. Barroso also discussed with Egyptian officials how the EU can help Egypt at this crucial stage, enhancing co-operation between Europe and Egypt.... »
Many foreigners not getting Egypt visa extensions
Egyptian authorities are turning down visa extensions to foreign students and workers, leaving many wondering of the future of foreign nationals in the country. Not giving out visas to foreigners could leave the tourism industry in jeopardy, experts argue. They say that despite the need to bolster restrictions on visas to foreigners, Egypt’s current economic... »
Egypt recognizes independence of South Sudan
Egypt officially recognized the establishment of the Republic of South Sudan, Egyptian Foreign Minister Mohamed el-Orabi said on Saturday upon his arrival in Juba to attend the independence celebration. The Republic of South Sudan declared independence Saturday, waiting to be recognized as the 193rd member of the UN and hoping to keep peace with the... »
Help feed starving horses in Egypt
In February, Horse&Hound reported that 2,000 Egyptian equines were suffering after the uprisings left owners unable to earn a living to feed their animals. Susie Nassar from the Egyptian Society for Mercy to Animals (ESMA) said there had been a gradual decrease of the “really emaciated horses” in the past couple of months. But there... »
Expatriates to help save Egypt
A group of Egyptian expatriates who met online are behind a new initiative to support the economy of their home country. The idea is simple according to Ahmed al-Daly, a software developer in Canada and one of the people who devised it. If one thousand people were each to transfer every month to a bank account... »
