Egypt

Egypt growth seen below government forecasts

Egypt’s economy will grow 4.4% in the fiscal year that began in July, well below government projections of 5.0%-5.25%, a Reuters poll showed on Tuesday. The figure is also below the 4.5% prediction from the International Monetary Fund which agreed a $12bn deal with Egypt in November last year in a bid to help the north African country revive its ...

Archaeologists find part of 4,000-year-old statue in Egypt

Egypt says archaeologists have discovered the head of a wooden statue, likely belonging to a female regent who ruled the country more than 4,000 years ago. Wednesday’s statement by the Antiquities Ministry says the artifact was found in the district of Saqqara, near the ancient Pyramids of Giza. It says the part of the statue is in poor condition and will ...

Egypt Expands Buffer Zone Along Gaza Border

CAIRO (AP) — Egypt’s military has bulldozed at least 140 homes and more than 200 acres along the Gaza Strip border, expanding a buffer zone in an effort to cut off the flow of weapons and militants. The governor of Northern Sinai province, Maj. Gen. Abdel-Fatah Harhour, told The Associated Press late Monday that the military began a new phase ...

2-GOAL SALAH SENDS EGYPT TO WORLD CUP WITH LAST-GASP PENALTY

Mohamed Salah scored with a last-gasp penalty to book Egypt a place in the World Cup finals for the first time in 28 years as they edged Congo 2-1 in their dramatic Group E qualifier on Sunday. The Liverpool striker’s two goals put Egypt four points clear with one match left in the preliminary campaign. Salah had given his side ...

British trade delegation explores business opportunities in Egypt

The UK Trade Envoy to Egypt, Sir Jeffrey Donaldson, arrived in Cairo on Saturday with a delegation of UK companies seeking to explore various business opportunities in Egypt, the UK’s Foreign and Commonwealth Office (FCO) announced yesterday. The delegation consists of 14 multi-sector British companies, including infrastructure, defence, healthcare and agriculture. The companies include London International Patient Services, Rolls Royce ...

Egypt’s central bank seen holding interest rates as inflation cools

CAIRO, Sept 25 (Reuters) – Egypt’s central bank is likely to keep key interest rates unchanged in its monetary policy meeting this Thursday, a Reuters poll showed, after a slide in inflation that is expected to continue in the last quarter of 2017. The Central Bank of Egypt (CBE) has raised interest rates by 700 basis points since it floated ...

Egypt calls on UK to lift ban on flights to Sharm El Sheikh

egypt has renewed calls for the government to lift its ban on British flights to the tourist resort of Sharm El Sheikh, claiming it is causing serious hardship for businesses and employees. Downing Street imposed a blanket ban on all British flights to Sharm after a Russian charter jet crashed in the Sinai Desert with the loss of 224 lives ...

Egypt: The Economy Is Gathering Strength

“The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they have sought to protect the most vulnerable. We have seen that economic activity has been gathering strength and efforts at reining in the budget deficit have ...

Egypt’s Sisi on Qatar: It’s time to confront supporters of terrorism

Egyptian President Abdel-Fattah al-Sisi who is in New York for the UN General Assembly session said the time has come to efficiently confront parties that support terrorism and get them to bear their responsibility. He specifically addressed Qatar and said it must respond to the four boycotting countries’ demands to show that it does not aim to harm Arab countries’ ...

Egypt says it will host ‘reorganization’ of Libyan army

Egypt said Tuesday it will host the “reorganization” of Libya’s army, currently an eastern-based force led by Gen. Khalifa Hifter. A statement signed by the Egyptian Committee on Libya said that Libyan military officers who met in Cairo recently chose Egypt as a starting point for plans to unify the army. The group, chaired by Egypt’s chief of staff, Lt. Gen. Mahmoud ...

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