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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

Musical Chairs

You have to admit that despite all the heartaches that we have come to encounter in Egypt, the place is becoming quite the rollercoaster ride. It is interesting to watch how roles are being exchanged at dizzying velocity. A once villain is now considered prince charming, a once prince charming is now seen as a …

Dr Mohamed Fouad

Saudi Arabia mulls granting women access to stadia

By James M. Dorsey Saudi Arabia’s secretive ruling family is mulling over allowing women to attend football matches. No Saudi official has suggested that the controversial issue is under discussion but if past experience is any indication, a series of statements and denials suggests that a debate is underway. The debate would be a revival …

Daily News Egypt

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

Is the military good for Egypt’s economy?

By Farah Halime, Rebel Economy That’s a question I put to around a dozen Egyptian businessmen over the weekend, all of whom responded with a resounding “Yes”. Here are some snippets of conversations I had with a few of Egypt’s business community over the weekend (some appeared in this story for The National newspaper): Nassef Sawiris, billionaire …

Daily News Egypt

Egypt’s biggest oil debts

By Farah Halime, Rebel Economy   Egypt’s state oil company, the Egyptian General Petroleum Corporation, is in big trouble.  It has racked up billions of dollars of debt in the last decade with some estimating its dues to banks and oil companies is as high as $20 billion. The magnitude of EGPC’s debts is such …

Daily News Egypt