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Could ‘sharp power lending’ reduce the need for further IMF bailouts?
NEW BUZZWORD: Could ‘sharp power lending’ reduce the need for further IMF bailouts? Sharp power lending is the latest buzzword for emerging powers handing out large bilateral loans to countries facing economic crises — and could be an alternative to traditional multilateral lending, sovereign debt analyst Timothy Ash writes in the Financial Times. Countries which […]
Twenty years of Egyptian agricultural development seen from space
Twenty years of Egyptian agricultural development seen from space: This video produced by the European Space Agency provides a timelapse of the development of Egypt’s crop circles, located in East Owainat in the Western Desert. The footage is comprised of more than 150 satellite images taken between 1998 and 2019.
Egypt in the news on 12 May 2019
Heated debate over “dress codes” for Coptic Christians: Comments made by Coptic priest Daoud Lamei about women attending church in clothing that is too revealing have drawn both praise and criticism from Egyptian Christians, AFP reports. The remarks, which were made in an Easter sermon, come in the wake of a controversial online campaign that […]
Gov’t instructed to keep commodity prices in check during Ramadan
The government wants you to know it’s keeping commodity prices in check this Ramadan, if the top headlines in the three main state-owned dailies are any indicator. Al Ahram, Al Akhbar, and Al Gomhuria are all running with President Abdel Fattah El Sisi’s instructions to Prime Minister Moustafa Madbouly and key members of Cabinet to […]
Flexible monetary policy: a buffer against government debt?
Flexible monetary policy: A buffer against government debt? Central banks need to be flexible in their monetary policy, rather than dogmatically pursuing higher prices in the face of lower-than-expected levels of inflation, argues Marie Owens Thomsen, global head of investment intelligence at Indosuez Wealth Management, in the FT. While the 2% inflation target widely adopted […]
El Sisi meets Libyan general Khalifa Haftar for second time in a month
El Sisi meets Libyan general Khalifa Haftar for second time in a month: President Abdel Fattah El Sisi discussed the current situation in Libya in his second meeting in less than a month with Egypt-backed General Khalifa Haftar, according to an Ittihadiya statement. El Sisi hailed the Libyan National Army (LNA) commander’s counterterrorism efforts, and […]
Egypt, Jordan and Iraq industry ministers agree to establish industrial zones, increase trade
The Egyptian, Jordanian and Iraqi industry ministers agreed to cooperate on building common industrial zones and boost trade between their countries at a summit in Amman over the weekend, the Jordanian Industry Ministry said in a statement. The ministers agreed to work on eliminating non-tariff trade barriers between their countries, boost investments, establish joint industrial […]
Egypt begins trial operations on Suez Canal highway
The Housing Ministry has begun trial operations on a newly constructed highway running parallel to the Suez Canal, reports the local press. The project cost EGP 5.2 bn and is intended to service development projects near the canal, while connecting the area to Egypt’s highway system.
AOI, Greater Cairo Water Company ink agreement to manufacture water pumps
The Arab Organization for Industrialization (AOI) and the Greater Cairo Water Company have signed an agreement to manufacture water pumps in Egypt, Ahram Online reports. A factory will be constructed to build pumps for the National Authority for Potable Water and Sewage, the New Urban Communities Authority, and a number of developmental projects across the […]