Egypt’s Prosecutor-General Talaat Ibrahim decided on Thursday to transport ousted president Hosni Mubarak to Military Maadi Hospital for health reasons, according to Turkish Anadolu news agency. Hassan Yassin, official spokesperson of General Prosecution, stated Ibrahim received a report from the … read more
Egypt is being hit by a dollar shortage as some Egyptians rush to convert their local savings into foreign currencies amid signs of further economic turmoil ahead. Foreign exchange bureaus have seen heavy trade for the last two days with … read more
Egypt will grant Telecom Egypt a license by mid-2013 to provide mobile services and will later let mobile companies offer fixed-lined services using Telecom Egypt’s infrastructure, the industry regulator said. Landline monopoly Telecom Egypt, 80 per cent owned by the … read more
President Mohamed Morsy spoke on Wednesday, saying he is planning for a Cabinet reshuffle of the government of Prime Minister Hesham Qandil, who took office in August. Morsy said, in a televised speech on the occasion of the adoption of … read more
The Court of Cassation will issue a verdict on 13 February on the appeals submitted by Habib al-Adly, the former interior minister, Ahmed Nazif, the former prime minister, challenging earlier respective sentences from the Cairo Criminal Court in July last … read more
The Egyptian pound fell to its weakest in almost eight years as concerns the government might devalue or place restrictions on currency movements prompted citizens to pile into dollars, forex traders said. Renewed political strife over the past month has … read more
Clashes erupted between security forces and protesters outside the Abu Qir Fertilizers Company headquarters east of Alexandria Wednesday evening. Residents of the Tabia district in Abu Qir surrounded the headquarters and prevented employees from entering. Objecting to the company’s taking … read more
The ongoing dispute in Egypt’s Salafist Nour Party continued for the second day in a row with 150 members publicly resigning. On Tuesday evening, ex-members from the Nour Party issued a statement announcing the mass resignation of leading members from … read more
Residents of Egypt overwhelmed many currency exchanges Dec. 25, as fears of possible devaluation of the Egyptian pound (EGP) manifested across the country. Many currency exchanges reported running out of US dollars (USD) by midday Dec. 25; Egyptians are converting … read more
Egypt announced on Tuesday voters had approved overwhelmingly a constitution drafted by President Mohamed Morsi’s Islamist allies, and the government imposed currency restrictions to cope with an economic crisis worsened by weeks of unrest. Final figures from the elections commission … read more