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Egypt to Receive $2bn Aid from Saudi Arabia

Egyptian International Cooperation Minister Sahar Nasr on Thursday said the North African nation is to receive a $2 billion deposit from Saudi Arabia. While he did not specify when the money was expected to arrive, Sahar said the agreement was signed two months ago. Saudi Arabia has been – along with Kuwait and UAE – […]

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Egypt Closes 48 Forex Bureaus as Black Market Surges

Egypt’s central bank has reportedly closed 48 foreign exchange bureaus since the start of the year for trading at black market rates and other violations, Reuters Reported on Wednesday. The Egyptian parliament on Tuesday set prison sentences of three to 10 years and fines up to 5 million Egyptian pounds ($563,000) for black market currency […]

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Egypt requests $7bn assistance from IMF to ‘plug funding gaps’

Egypt has officially requested financial assistance from the International Monetary Fund (IMF) to help straighten its ailing economy, the Bretton Wood institution announced on Tuesday. “The Egyptian authorities have asked the IMF to provide financial assistance to support their economic program,” Masood Ahmed, director of the Middle East department at the IMF, said in a […]

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Egypt, Madagascar Join Bloc Supporting Morocco’s Return to African Union

Egypt and Madagascar on Friday joined the 28-member bloc, which addressed last Monday a motion to the President of Chad, Idriss Deby Itno, who holds the rotating presidency of the African Union, expressing support to Morocco’s return to the African Union and demanding the suspension of the self-proclaimed Sahrawi Republic from the pan-African organization’s bodies […]

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Will Morocco’s Return to AU be Announced at Kigali Summit?

Morocco has embarked on a massive diplomatic campaign to prepare its return to the African Union (AU) thirty two years after it walked out of the then Organization of African Unity (OAU) over the admission of the Sahrawi Arab Democratic Republic (SADR,) self proclaimed by the separatist Polisario, as a full-fledged member of the organization. […]

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Egypt’s record scorer Hossam Hassan jailed 4-days

Hossam Hassan, a former Egyptian football and Al Masry manager has been found guilty on Tuesday of assaulting a photographer last week. Following the final whistle in Al Masry’s 2-2 draw against Ghazl El-Mahalla, a fight broke out between the two teams as Hassan was caught on video chasing one of the photographers inside the […]

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Egypt: Cairo to Investigate Official’s Alleged Calling Africans “Dogs & Slaves”

Egypt’s foreign minister Tuesday said they would investigate allegations that an Egyptian official at UN Assembly on environment last week in Nairobi referred to Sub-Saharan Africans as “dogs and slaves.” Kenyan diplomat and chairwoman of the Yvonne Africa Diplomatic Corps technical committee Khamati has demanded in a memo that Egypt no longer represents Africa at […]

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Muslim Brotherhood Leader Handed Down Life Sentence

An Egyptian court has handed down the leader of the Muslim Brotherhood Mohamed Badie and 35 other members of the banned organization life sentence. The defendants were found guilty of engaging in violent acts in the Suez Canal city of Ismailia, during the 2013 ouster of Islamist President Mohamed Morsi. Badie, 72, had already been […]

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EgyptAir Flight Went off Radar with 66 Passengers

Flight MS804, an EgyptAir Airbus A320 en route from Paris to Cairo, has disappeared from radar with 56 passengers and 10 cabin crewmembers Wednesday night, Airbus officials said on Thursday. EgyptAir said the plane’s emergency devices – possibly an emergency locator transmitter or beacon – sent a signal that was received at 4.26am local time, […]

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Egypt, Bahrain Sign 11 MoUs to Boost Trade

Bahrain and Egypt have signed eleven Memorandums of Understanding in various fields during a joint business forum held in Cairo with both parties hoping to boost their trade relations. The volume of trade exchange between the two countries has increased over the years. Bahraini investment in Egypt is estimated around $1.7 billion and the just […]

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