Misr Cement Qena workers protest low wages
On Saturday, rights groups said Misr Cement Qena workers began a sit-in, protesting their working conditions. Last month, the company’s workers organized a protest to demand the payment of bonuses accumulated since 2016 and to protest against the company’s management…
CTUWS: The new labour bill does not keep pace with market changes
On Thursday, the Center for Trade Union & Workers Services criticized the draft labour law currently being discussed in the House of Representatives, stressing that it does not keep pace with developments in the labour market and does not solve…
The Egyptian Medical Syndicate warns of collapse due to doctors’ resignations in thousands
The Egyptian Medical Syndicate has warned that the continued resignation of thousands of doctors from the government health sector, which has been suffering from low services and wages for decades, may lead to the collapse of the medical system in…
Central Bank of Egypt cancels documentary credits system
On Thursday, the Central Bank of Egypt cancelled the system of documentary credits in import operations to meet the demands of the International Monetary Fund. The documentary credits system began in February 2022 as an attempt to keep foreign currency…
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….
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…
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