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USD exchange rate skyrockets

Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004

Daily News Egypt

Egypt placed 107 in global competitiveness rating

The World Economic Forum (WEF) issued its annual global competitive report, showing that Egypt’s competitive rating slipping 13 places to 107th place. The Egyptian market, in the view of many economic experts, lacks discipline and transparency. The price of goods and services’ do not represent actual patterns of supply and demand, in addition to other …

Islam Serour

Food Industries Holding Invests EGP 100m on expansions

By Mahmoud Salah El-Din Tarek Shaalan, Head of the food products companies sector at the Holding Company for Food Industries, said EGP 100 million have been allocated for investment in the year 2012-2013 to develop branches of the companies and open new ones. The development plan includes developing 45 branches of Nile, Ahram and Alexandria …

Daily News Egypt

El-Arabi meets with EBRD’s Hildegard Gacek to discuss economic co-operation

Ashraf el-Arabi, minister of development and international cooperation discussed economic support to Egypt with Hildegard Gacek, managing director of the European Bank for Reconstruction and Development (EBRD) for the southern and eastern Mediterranean region on Wednesday. It was reported that the Egyptian government seeks to attract the EBRD to carry out operations in Egypt beside …

Islam Serour

Cycling in Cairo: Just use your head

On the smaller streets riding a bike is a breeze, since you avoid the kind of traffic that bogs down cars. On the bigger streets it is more challenging but general rules apply; take the right side of the road (but leave some space), deal with the other traffic as if you are a slower, smaller car and above all be mindful of your surroundings.

Daily News Egypt

New chairmen of the boards announced for state newspapers

The Shura Council’s general committee has appointed new heads for the country’s state-owned newspapers. The Islamist-dominated assembly appointed current head of the Press Syndicate Mamdouh Al-Waali as head of Al-Ahram and Ahmed Sameh Saadallah the head of the board of Al-Akhbar Al-Youm. Shaker Gamal Eddin, who was already appointed editor-in-chief of the MENA last month, …

Basil El-Dabh

Government studies new law to regulate foreign capital

By Ibrahim El-Masry Minister of Planning and International Cooperation Ashraf Al-Arabi said the government is considering drafting a new law to regulate the flow of foreign capital to Egypt whether in investments or funding for non-governmental organisations (NGOs). Speaking during a public session of the Shura Council that tackled the issue of foreign grants and …

Daily News Egypt

Heavy metal music in for some heavy weather

I was expecting that something like this could happen in the future, but I did not think it would be this soon. No matter how absurd the accusations are, the fact they are brought by a well known lawyer from the FJP will generate a big amount of bad publicity with possible serious repercussions.

Adel Heine

Fareeq Al-Atrash delivers a fresh sound in Cairo

We are very locally minded and coming to Egypt was a big dream for us. The Arab world and culture are our primary focus and a big part of that is obviously the language. Fortunately, Arabic is a poetic language and people here are used to oration.

Daily News Egypt

This is Egypt: Yehia El Alaily

Photography in Egypt is often seen as a means to a commercial end, disregarding the fact the people behind the camera are often artists. This is Egypt, as seen by talented photographers.

Adel Heine

New Egyptian ambassador in Tel Aviv

Egypt has appointed a new ambassador to Israel. Atef Salem el-Ahl is currently serving in the Egyptian consulate in the Israeli resort town of Eilat. The appointment is standard operating procedure as a number of embassies change leadership at the end of a four year cycle. El-Ahl’s appointment has pleased Israeli and international spectators who have …

Daily News Egypt

Rights organisation condemns assault on Egyptian doctors in Kuwait

The Egyptian Organisation for Human Rights (EOHR) condemned an attack on two Egyptian doctors working in Kuwait on Monday. According to the EOHR, the Egyptian government has failed to provide sufficient security for Egyptians working overseas by not properly investigating or seriously pursuing crimes against Egyptian migrant workers. The attack happened at Jahra Hospital, in …

Luiz Sanchez

The fading shine of Egypt’s copper artisans

The copper business has a long history in Egypt. At the time when plastic and stainless steel were unheard of, almost everything in houses was made of copper. From the frames of beds, to coffee tables, kitchen utensils, lamps, and even incense-holders, copper was the predominant metal to be found in almost all Egyptian households.

Rana Muhammad Taha