The new monetary foreign exchange regulations, enacted by the Central Bank of Egypt (CBE) on Sunday, will help curb speculation on the US dollar in the domestic market and maintain a low rate of inflation, said the country’s top bankers. … read more
Prime Minister Hesham Qandil said Sunday that although the country’s economic situation is “difficult and critical,” the country is not going bankrupt. “Countries don’t go bankrupt, only companies do,” Qandil said at a press conference. He said that the Cabinet … read more
President Mohamed Morsy has largely picked up where Hosni Mubarak left off in terms of media freedom. A case in point is the constitution. Critics argue that the constitution, which was just approved by 63.8 percent, does not go far … read more
On 23 November, 25-year-old accountant Saad Saeed was found dead after being tortured and beaten to death by police officers in a Giza police station. His face was disfigured, and he had been left on the pavement for nine hours … read more
The Alexandria Administrative Court upheld Sunday an earlier court decision ordering the government to reinstate police officers who were suspended for growing their beards, state-run Nile News reported. In March, then-Interior Minister Mohamed Ibrahim demoted 17 police officers for growing … read more
Falling to a new eight-year low, the Egyptian pound reached 6.30 to the dollar on Sunday as the central bank conducted its first currency auction in a bid to combat the shortage of dollars on the market and curb the … read more
Less than a week after touting the independence of the Cabinet and state institutions, the Freedom and Justice Party is jockeying for places in an impending Cabinet reshuffle. The party had initially nominated eight ministers, but eventually settled for three: … read more
A senior Petroleum Ministry official has said that the increased gas exports to Jordan last weekend did not affect the local supply of gas for power stations and had nothing to do with blackouts in seven governorates on Thursday. The … read more
Gamaa Islamiya’s official spokesperson, Tarek El-Zomor, told Ahram’s Arabic-language website Sunday that negotiations were ongoing to create an Islamist coalition to run for the next parliamentary elections. The coalition will exclude the Muslim Brotherhood’s Freedom and Justice Party (FJP). Although … read more
Electricity was cut in Cairo and several governorates on Friday due to shortages of gas provided to the power stations. The Petroleum Ministry announced that irregular gas supply will be dealt with by using heating oil, which can meet fuel … read more