Central Bank of Egypt raises basic interest by 200 basis points
On Thursday, the Central Bank of Egypt announced it would raise interest rates by 200 basis points to curb soaring inflation. Since the beginning of 2022, the Central Bank of Egypt has raised interest rates by 800 basis points. According…
Egyptian military used schools in Sinai as military bases, says Sinai Foundation
The Sinai Foundation for Human Rights has accused the Egyptian army taking over 37 schools and turning them into military bases while destroying dozens of other schools in a decade-long war with militants in Sinai. An investigation by the rights…
Egypt among the most benefited of China’s grants, says FT
Financial Times reported that China had granted hundreds of billions of dollars in loans to several countries, including Egypt, over the past two decades. China started the Belt and Road Initiative in 2013, a network of trade routes connecting Asia…
Sisi’s fancy Misr Islamic Center escalates the rage of pauperized Egyptians
When Egypt was going through a severe economic crisis, President Abdel Fattah El-Sisi inaugurated the Misr Islamic Center in the New Administrative Capital, which cost over 800 million pounds ($26 million). This sparked great public anger, as it was considered…
Tantawi shows out hesitation of the secular opposition in Egypt to challenge Sisi in the presidential elections
The former parliamentarian and former president of the Karama (The Dignity) Party, Ahmed Tantawi, announced days ago his intention to return to Egypt next May to “present the democratic civilian alternative Egypt needs,” referring to the prospect of running in…
Central Bank of Egypt to raise overnight interest rates
On Monday, a Reuters poll showed that the Central Bank of Egypt is expected to raise overnight interest rates by 200 basis points, or 2 per cent. The bank will likely raise the interest rate on deposits to 18.25% and…
UN Human Rights Committee concerned about arbitrary detention in Egypt
On Monday, the United Nations Human Rights Committee expressed concern about reports of arbitrary detention and systematic unfair use of pretrial detention in Egypt. The committee urged Egypt to respect essential procedural safeguards against arbitrary deprivation of liberty, comply with…
Morgan Stanley says the Egyptian government should expedite the process of selling state-owned companies and assets
On Tuesday, Morgan Stanley issued a note in which its analysts said that the solution to Egypt’s foreign exchange crisis and the funding gap is to expand the government’s privatization program. Bank analysts estimated the country’s funding gap this year…
Amnesty International says the Egyptian government continues to repress freedom of expression, association, and peaceful assembly
On Monday, Amnesty International published its annual report on the human rights situation in the world, including in Egypt, in which it confirmed the Egyptian government’s continued repression of freedom of expression, association, and peaceful assembly. The rights group noted…
Egyptian court rejects lawsuit filed by Al-Warraq Island residents
On Monday, an Egyptian court rejected a lawsuit filed by the residents of Al-Warraq Island, which demanded that the government be prevented from expropriating land and buildings belonging to them. According to the residents’ lawyer, Ghanem Salih, the Egyptian government…
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