News

Egypt weakens pound as forex crisis looms

Egypt’s central bank allowed the Egyptian pound to weaken on Thursday to 7.83 per dollar from 7.73, the first official depreciation since July and a move economists say is needed to ease a foreign currency crisis and support dwindling reserves. … read more

Egypt won a non-permanent member seat at the United Nations Security Council (UNSC) Thursday for the 2016-2017 term. In the voting session, Egypt secured the votes of 179 of the 193 nations entitled to vote at the UN. Egypt ran for the North Africa seat unopposed and now represents Africa along with Senegal. This is the fifth time Egypt is voted as a non-permanent Security Council member, according to the UN. The Security Council includes 15 members, five of whom are permanent: Russia, China, US, UK and France. Permanent members have the right to veto any decision by the Security Council. The remaining 10 seats are for non-permanent members to be elected by the General Assembly every two years. UNSC meetings can be called at any given time to take decisions over disputes, international threats, military actions against aggressors or the application of sanctions to prevent aggression. This content is from : Aswat Masriya

Background and significance: Egyptians are scheduled to go to the polls between October and December to elect the first parliament since the ouster of Islamist president Mohamed Morsi. The elections will be the third parliamentary vote since 2010; the first … read more

Two passersby injured in Alexandria blasts

Two civilians were injured in blasts caused by improvised explosive devices (IEDs) in the Mediterranean coastal city of Alexandria on Tuesday night, the Interior Ministry said. The two injured were passing by when an IED detonated in Alexandria’s Bab Sharq … read more