FINANCE & ECONOMY

20 Nov 2016

JVC residents want a mosque in their community

Residents in Jumeirah Village Circle (JVC) have expressed the need for a mosque inside the community, as the nearest one is currently 8km away.

With over 700 villas, and a population of 25,000, JVC is one of the fastest growing communities in Dubai, which does not have its own mosque yet.

...

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20 Nov 2016

Bed sheet scandal roils the cotton industry

Huddled inside Target’s headquarters in downtown Minneapolis, a team of investigators spent the summer trying to answer what should have been a simple question: What were hundreds of thousands of the retailer’s sheets actually made of?

What"...

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20 Nov 2016

Egypt’s food shortage a bitter blow to all social classes

Egypt could be plunging into a food crisis or at least this is how it seems. Complaints about a shortage of basic goods have been echoing across the country and reached their peak with the lack of sugar supplies in many stores. Such complaints varied according to social class for while the"...

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20 Nov 2016

Competition to ‘Redesign Egypt’s Currency’ Goes Viral

An Egyptian graphic designer is encouraging the public to submit new design ideas for Egypt’s banknotes for a “currency redesign challenge” that has gone viral on social media.

Reassuring viewers that the competition is not being carried out in"......

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20 Nov 2016

EBRD to inaugurate SME office in Egypt’s Alexandria early 2017

The European Bank for Reconstruction and Development plans to inaugurate a new branch in Egypt’s second biggest city Alexandria by early 2017, EBRD director Philip ter Woort announced Friday.

The new branch"...

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19 Nov 2016

Egypt ambassador accuses UK prime minister of blocking flight resumption to Sharm El-Sheikh

Egyptian ambassador to the UK Nasser Kamel blamed Prime Minister Theresa May for obstructing the resumption of flights to Sharm El-Sheikh.

Kamel told BBC Radio 4 programme on Friday that Egypt has done its part in"...

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19 Nov 2016

Fresh criticism for Egypt church construction law

After the ratification of a law on the building of churches in Egypt in September, Copts and rights organisations have voiced concerns that this will not aid in turning the tide on discrimination against Egypt’s Orthodox Christian minority.

For"...

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19 Nov 2016

Egypt's Economy: Not Out of the Woods Yet

Two weeks ago, Egypt appeared to be on the brink. The Egyptian pound, which sold at 5.9 LE/$ at the time of Egypt's January 2011 "Arab Spring" uprising, had fallen to 8.9 LE/$ on November 2, while traders were buying dollars for 18.2 LE/$ on the black market.

"...

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19 Nov 2016

Egypt’s budget deficit eases to 2.4% of GDP in first quarter 2016/17

Egypt’s budget deficit fell to 2.4 percent of Gross Domestic Product (GDP) in the first three months of the 2016/17 Fiscal Year, compared to 2.8 percent in the same period last year, amid subsidy cuts and reduced government spending.

The"...

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19 Nov 2016

Billionaire bids to end Egypt bourse row with Beltone stake sale

Egyptian billionaire Naguib Sawiris is selling some of his investment bank in a bid to ease the institution’s more than six-month spat with the country’s stock exchange.

Sawiris’ Orascom Telecom"...

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