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This Made-in-Egypt Brand Is Bringing Its Super-Luxe, Affordable Basics to Soho

Walking into Kotn’s new store on Mercer Street in Manhattan, you might be struck with a surprising feeling: warmth. Sure, it’s been 90-plus degrees this week, but the clay accents, antique wood doors, fig trees, and hanging tapestries are also a rustic, inviting departure from the crowded streets and chilly designer shops down the block. The cotton T-shirts, sweatshirts, joggers, and ...

Can the private sector salvage Egypt’s dilapidated railway system?

CAIRO — After three train cars flipped over July 13 near Al-Badrashin train station in Cairo’s Giza governorate and injured more than 55 people, the efficiency of Egypt’s railway system has been once again placed under the spotlight. The Al-Badrashin incident is not the first of its kind this year in Egypt. On Feb. 28, two trains collided in Beheira governorate in northern Egypt, killing 12 people and wounding ...

Egypt convicts 37 people for human organ trafficking

An Egyptian court convicted 37 people on Thursday who faced charges relating to the illicit trade in human organs, Reuters has reported. They were sentenced to prison terms ranging from three to 15 years. One suspect died before the trial. Under Egyptian law, defendants have 60 days to appeal against their convictions. The Cairo Criminal Court also cleared three people ...

Egypt discovers mummification workshop

The site was last excavated more than 100 years ago. CAIRO — Archaeologists in Egypt stumbled upon a new discovery dating back more than 2,500 years near Egypt’s famed pyramids at an ancient necropolis south of Cairo. The discovery, which includes a mummification workshop and a shaft used as a communal burial place, is located at the Saqqara necropolis of ...

Egypt great Hossam Hassan disagrees with foreign coach search

The Egypt great had been linked with the Pharaohs job before the Egyptian Football Association (EFA) narrowed their search to foreign coaches. Former Egypt international forward Hossam Hassan has expressed anger at the EFA’s decision to overlook local coaches in preference to foreigners in their hunt for Hector Cuper’s replacement. Cuper was fired in the wake of a disastrous World ...

Egypt arrests customs chief over alleged bribes

CAIRO – Egypt’s customs chief was arrested on Monday on allegations of taking bribes, said authorities in the North African country where corruption is an endemic problem. Gamal Abdelazim “obtained bribes… in exchange for the smuggling of goods prohibited for import and without payment of required customs duties,” said the administrative control authority, tasked with tracking graft. Abdelazim was also accused of ...

Egypt repositions itself as a ‘global investment destination’ amid reform drive

Egypt is making progress with economic reforms and is “open for business,” the country’s minister of investment and international cooperation told CNBC Thursday. “We’re repositioning Egypt as a global investment destination so we’ve moved forwards with comprehensive improvements in the business environment,” Sahar Nasr, told CNBC’s “Capital Connection.” The drive to open up the business sector to foreign investment included ...

Egypt pushes population control: ‘Two is Enough’

CAIRO – Egypt’s faltering economy pushed authorities to become explicit about family planning, one of the most private of matters in this traditional, Muslim country. As Egypt’s population hits the milestone of 100 million, President Abdel-Fattah el-Sissi is rolling out a campaign called “Two is Enough.” The campaign, supported by the United States and the United Nations, is not like China’s harsh ...

IMF urges Egypt to maintain tight monetary policy to ward off inflation

CAIRO, July 2 (Reuters) – Egypt should maintain tight monetary policy to contain the risk of inflation as a result of fuel and electricity subsidy cuts, the International Monetary Fund said on Monday, in a statement that praised progress on reforms tied to a new $2 billion loan. The IMF’s remark comes days after Egypt’s central bank decided to keep ...

Egypt Holds Rates as Subsidy Cuts Rekindle Inflation Worries

Egypt’s central bank kept its benchmark interest rate unchanged Thursday as increases in fuel and electricity prices rekindled concerns over inflation. The Monetary Policy Committee held the deposit rate at 16.75 percent and the lending rate at 17.75 percent. Ten of 11 economists surveyed by Bloomberg had expected no change. Inflation has dropped from highs above 30 percent for much ...