Hamdeen Sabahy conditions releasing detainees to continue National Dialogue
Former presidential candidate Hamdeen Sabahi has said that the Civil Democratic Movement will not dialogue with the government unless the authorities release political prisoners. The movement called on Egyptian President Abdel Fattah El-Sisi to release 1,074 political prisoners, and 950…
Egypt’s new minimum wage still below inflation rates
On Thursday, the National Wages Council in Egypt decided to raise the minimum wage in private sector establishments from 2,400 pounds to 2,700 pounds as of January 2023. The decision contradicted government promises of equality, as the minimum wage in…
Credendo for insurance might downgrade the Egyptian economy
Credendo has warned that it might downgrade the Egyptian economy to the medium and long-term political risk category. A European credit insurance group, Credendo, added that the pandemic and the war in Ukraine showed that Egypt faces significant economic vulnerabilities….
Panorama of 2022: The year of Gulf acquisitions in Egypt
The year 2022 witnessed a significant increase in Saudi and Emirati influence in the Egyptian economy, as the severe economic crisis suffocating the country allowed Gulf wealth funds to acquire government-owned stakes in some of the most potent companies listed…
Selling state assets: Sisi approves state State Ownership Policy Document
On Thursday, President Abdel Fattah El-Sisi approved the State Ownership Policy Document, the Egyptian State Assets Sale Document. The document outlines the government’s plan to exit major projects and allow the private sector to increase its investments to 65% within…
Debt-addiction: Sisi approves 95 million euros loan from French Development Agency
On Wednesday, Egyptian President Abdel Fattah El-Sisi approved a loan from the French Development Agency of 95 million euros to develop the Tanta-Mansoura-Damietta railway. Sisi approved a 221 million euros loan from the European Investment Bank on December 22 to…
Egyptian banks reduce dollar credit limits for their clients abroad
Egyptian banks, including the National Bank of Egypt, Banque Misr, Commercial International Bank and Emirates NBD, have reduced dollar cash withdrawals for their clients outside Egypt. The National Bank of Egypt reduced monthly cash withdrawals for its clients outside Egypt…
Debt-addiction: Egypt gets the second tranche of a $1.2 billion Japanese loan
On Tuesday, the Japan International Cooperation Agency and the Egyptian government signed an agreement to disburse the second tranche, $301 million, of a $1.2 billion Japanese loan. The loan covers the construction costs of the first phase of Line 4…
Sinai: The economic crisis obscures the news of the war
Last Monday, the centre of the city of Arish, in the centre of North Sinai governorate, witnessed shootings, as five civilians, including a woman, were injured when security forces attached to a mobile police ambush fired at a car suspected…
Civil Democratic Movement launches campaign “to defend Suez Canal”
On Sunday, the Civil Democratic Movement announced the launch of a campaign “to defend the Suez Canal,” explaining, in a statement, that the primary goal of the campaign is to withdraw the Suez Canal Fund draft law that was approved…
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