Fayyaz Azz El-Din, Chairman of the Canadian Chamber of Commerce in Egypt and the Middle East, has lambasted the Egyptian government for its lack of economic vision to pull the country out of its ongoing crisis. In his analysis, he said that the economic growth of Egypt for the future seems to diminish in the [...]
The Egyptian pound has strike a new low against the US dollar, after official exchange rates reached LE7, a rate unseen since 2003, in commercial banks in the country. It marks another turning point in the country’s crisis, despite financial assistance from Qatar and Libya. Egypt was able to register an increase in its foreign [...]
Tunisia wants to reopen its embassy in Syria which has been closed for more than two years and has sent a request in this vein to the government in Damascus. Tunis is yet to receive a reply from Syria’s foreign ministry and a diplomatic source said that the letter has been sent to the foreign [...]
The Egyptian pound is still going through its worst period after reaching a new all-time low against the United States dollar at an average of LE6.92. According to the Central Bank, the devaluation of the local currency will only worsen the country’s situation. On the black market, it’s even more expensive, and a dollar is [...]
President Moncef Marzouki met with the Emir of Qatar, Hamad Ben Khalifa Al-Thani, and Crown Prince separately before leaving Qatar for Tunis. Talks during the meetings centered on development projects and Qatari investments in Tunisia. Speaking on behalf of the president, spokesman Adnane Mansar said that discussions between Marzouki and the Emir focused on “the [...]
Government officials from Qatar and Egypt are currently discussing the details of a $2.5bn Qatari aid package, by way of special IPO agreements in dollars. These negotiations began a week after Qatar announced that it would provide Egypt with an additional $2bn in addition to an already agreed upon $500m package. The cabinet is discussing [...]
Qatar gave Egypt an economic lifeline by lending the country another $2 billion and given it an extra $500 million outright to help control its currency crisis. The gesture has been perceived as being highly motivated by political ambitions as Qatar seeks to deepen its influence in the region. However, it will ease the pressure [...]
During the Emir of Qatar’s visit to Algeria, a joint venture agreement has been signed between Algeria and Qatar for the construction of a steel plant in the Balara area with seven other agreements and memorandum of understanding simultaneously in various domains. The agreement between both countries also concerns commercial maritime transport and ports and [...]
Positive developments are coming from the king’s visit to the Gulf countries halfway through his tour. King Mohammed has already visited Saudi Arabia and Jordan and will be travelling to Qatar. He will visit the UAE on Tuesday and Kuwait on Wednesday. Yassir Zenagui who is part of the delegation said that “the aim of [...]
The newly formed Egyptian government has managed to get a $2 billion loan from the oil-rich emirate of Qatar, the second country after Saudi Arabia supporting the Egyptian ailing economy since the fall of former President Hosni Mubarak in a popular uprising in 2011. The loan was announced following a meeting in Cairo between the [...]
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