Egypt

An Egyptian investment bank, said Egypt is on the verge of devaluing its currency, the Egyptian pound

Egypt says it has found an alternative for fuel imports after Saudi Arabia abruptly decided to halt shipments of fuel as an expression of its displeasure over an Egyptian vote in the UN this week. In that vote, Egypt voted in favor of separate Russian and French draft resolutions on Syria in the UN Security Council. That resolution has led to ...

Egypt participates in international peace talks for solution in Syria

After the United Nations security council failed to adopt a resolution for peace in Syria, international talks led by the US and Russia were held in Swiss capital of Lausanne on Saturday to discuss the Syrian crisis. The spokesperson for Egypt’s Ministry of Foreign Affairs Ahmed Abou Zaid said in a statement on Friday that US secretary of state John ...

A dozen Egyptian troops killed in checkpoint attack

ISIL fires mortars and and attacks checkpoint with assault rifles, killing 12 soldiers in restive North Sinai province. At least 12 members of Egypt’s security forces have been killed and six wounded in an attack on a checkpoint in North Sinai province. The Islamic State in Iraq and the Levant (ISIL) quickly claimed responsibility for the attack.  ISIL fighters armed with ...

Egypt: ‘IS militants’ kill 12 soldiers in Sinai peninsula

Suspected Islamist militants have killed 12 soldiers and injured eight in an attack on an army checkpoint in the Sinai Peninsula, Egyptian security sources say. The army says 15 militants were also killed in the attack, which took place near the town of Bir al-Abd. Gunmen from the Sinai Province group are reported to be behind the attack. It is ...

Fuel aid halt suggests deeper Saudi-Egyptian rift

A halt to shipments of Saudi fuel to Egypt under a $23 billion aid deal shows that a rift between the Arab world’s richest country and its most populous may be deeper than previously thought, which could leave Egypt desperate for a new sponsor. Under the deal, signed during a visit by the Saudi king in April, Riyadh was meant ...

Egypt finds other sources after halt in Saudi fuel shipments

In this March 28, 2015 file photo provided by Egypt’s state news agency MENA, Egyptian President Abdel-Fattah el-Sissi, right, talks with Saudi King Salman after the king arrived in Sharm el-Sheikh, Egypt. Close allies Egypt and Saudi Arabia are having their first public spat since Egyptian President Abdel-Fattah el-Sissi took office two years ago. The disagreement is over Syria, where ...

Russia to hold military drills in Egypt this month

“The joint Russian-Egyptian drills will happen in mid-October 2016 on the territory of Egypt,” it said, without specifying their start date. The drills, called “Protectors of Friendship-2016”, will include 500 troops, 15 planes and helicopters and 10 military hardware units, the ministry said, describing the exercises as “anti-terrorist”. “The airborne delivery by parachute of several Russian airborne troops’ сombat vehicles ...

Oil Prices 2016: Saudi Arabia Cuts Off Oil To Egypt

Saudi Aramco has discontinued shipping refined oil products to the Egyptian General Petroleum Corporation, Egypt’s state oil company, as of early October, Reuters reported Monday, citing an Egyptian government official. Egypt did not receive crucial allocations of Saudi petroleum aid this month, forcing its state buyer to intervene by rapidly increasing tenders in order to buy over $500 million in petroleum products from ...

Allies Saudi Arabia, Egypt in rare public spat over Syria

CAIRO — Close allies and Arab powerhouses Egypt and Saudi Arabia are having their first public spat since Egyptian President Abdel-Fattah el-Sissi took office two years ago, a quarrel over Syria that points to a wider, but mostly muted, divergence in the handling by Cairo and Riyadh of regional issues. The two countries have gone to great lengths to shield ...

Egypt denies talks on hosting Russian airbase

Egyptian officials have denied a report in the Russian media which claimed that Moscow and Cairo are negotiating a deal on a Russian airbase in western Egypt. Egypt’s Al-Ahram daily reported the president’s office as stating that it would not allow foreign foreign military bases on Egyptian coasts. Earlier on Monday, Russian newspaper Izvestia cited its diplomatic and military sources as ...

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