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The ‘minimum wage’ defeat for ten million

There have been mixed reactions to this week’s announcement of a new public sector minimum total income of EGP1,200 per month to come into effect in January of 2014. Many are unsatisfied – unsatisfied with the EGP1,200 figure, the target of total income and not wage, or the meeting of the social justice objective. Some …

Iris Boutros

Rent boys

By Philip Whitfield Who’d be in the president’s shoes? Adly schleps in the shadows. Morsi shuffles round prison in his. Mubarak hobbles in hospital pumps. Sadat died with his on. Nasser wore his out on socialism’s slippery slope. Who’s got the courage to give the old ways a kicking? The economist Felix Inmonti says rent-funded …

Daily News Egypt

Egypt left vulnerable after Qatari snub

By Farah Halime It was bound to happen sooner or later. Egypt has returned to Qatar the $2bn the Gulf state deposited in Egypt’s central bank after negotiations to convert the money into three-year bonds failed. Though this represents only a quarter of the total funds Qatar has lent or given to Egypt, the decision …

Daily News Egypt

Stop the battle cries, people need hope

The gas bill collector cried at my door. He is not a young man but an Egyptian man in his mid-forties, who is a husband and a father. Culturally, men are not supposed to cry, but nevertheless, he did. He fought the tears in his eyes and the lump in his throat and lost. He …

Iris Boutros

Making the most of Gulf aid to Egypt

By Farah Halime, Rebel Economy We may not like it, but Egypt desperately needs Gulf money. So why not change the way the Gulf lends money to Egypt to make it count. It won’t be just about wasting away cash to address a symptom without resolving the underlying problem. Indeed, without Gulf aid, the government would have …

Daily News Egypt

Education, the spy-duck and threats to Egypt

“The police had confiscated a spy-duck.” This was how my reporters greeted me five days ago. At first I thought it was another pun by DNE’s wily reporters until they showed me the links in Arabic; the police confiscated a duck carrying a “strange” device. Two days later, after the intervention of animal activists, the …

Sara Abou Bakr

More than 700 million worth of positive signals in Egypt

The ‘Egypt Support’ Fund, the 306306 account, has exceeded EGP 700m according to Ashraf El-Araby, Minister of Planning and International Cooperation, in the less than two months since its creation. Two other similar funds had been established since the start of the January 25th Revolution in Egypt with comparatively little success in fund raising. I …

Iris Boutros

Why Egypt’s pound is not strengthening

By Farah Halime, Rebel Economy Take a look at this chart, which the Central Bank of Egypt  has been proudly parading this month: It shows how the pound’s official price, controlled by the central bank, has been appreciating slowly since the overthrow of Islamist president Mohammed Morsi. If we were to take this graph at face value, …

Daily News Egypt

EGP 19bn in remitances from those living abroad

By: Ibrahim al-Masry   Kamal Abu Eita, Minister of Manpower and Emigration stated that basic services need to be provided in order to encourage economic growth and benefit the lower classes at a recent conference held for Egyptians living abroad, under the title of “Egypt in the heart” under the auspices of President Adly Mansour. …

Daily News Egypt