CAIRO (Reuters) – Egypt plans to avoid raising taxes or cutting spending but instead use billions of dollars in aid pledged by Gulf Arab states to spur the economy through new investments, Finance Minister Ahmed Galal said on Tuesday.
After Islamist President Mohamed Mursi was deposed by the army last month, Saudi Arabia, Kuwait and the United Arab Emirates promised Egypt a total of $12 billion in loans, grants and fuel shipments. Of that, $5 billion has already arrived.
CAIRO (Reuters) – Egypt’s disgraced former President Hosni Mubarak will be released from jail soon, after prosecutors cleared him in a corruption case, his lawyer said on Monday, dropping a new bombshell on a nation in turmoil.
The most populous Arab country is already enduring the bloodiest internal conflict in its modern history as the army, which deposed President Mohamed Mursi on July 3 after huge protests against him, cracks down on his Muslim Brotherhood.
CAIRO (Reuters) – Suspected Islamist militants killed at least 24 Egyptian policemen on Monday in the Sinai peninsula, where attacks on security forces have multiplied since the army overthrew President Mohamed Mursi on July 3.
Three policemen were also wounded in the grenade and machinegun attack near the north Sinai town of Rafah on the border with Israel, medical and security sources said.
* SODIC’s land bank to last only two to three years
* Says switched focus to smaller residential projects
* Seeking to raise 550 million pounds in new debt
By Asma Alsharif
CAIRO, Aug 1(Reuters) – One of Egypt’s biggest property
developers, SODIC, warned that it was running out of
land for new development and said it hoped an interim government
would approve new tracts.
Reflecting the wider problems for Egyptian businesses faced
by political turmoil since the ousting of President Hosni
Mubarak in 2011, real estate development has ground to a near
CAIRO (Reuters) – Egypt’s army-backed government on Thursday warned supporters of deposed president Mohamed Mursi to abandon their Cairo protest camps, promising them a safe exit if they gave up without a fight.
The appeal, made by Interior Ministry spokesman Hany Abdel Latif on state television, followed the government’s declaration on Wednesday it was ready to take action to end two weeks of sit-in protests by thousands of Mursi supporters at two sites.
CAIRO (Reuters) – Standing by a brick and sandbag barricade on the edge of a Muslim Brotherhood protest camp in Cairo, chief guard Mohamed Saqr is preparing to resist a threatened attempt by security forces to storm in.
The army-backed government has announced it will clear two Brotherhood encampments soon and on Thursday offered a safe exit to those keeping up a peaceful vigil if they leave voluntarily.
CAIRO (Reuters) – Germany urged Egypt to avoid “the appearance of selective justice” on Thursday amid a crackdown on deposed President Mohamed Mursi’s Muslim Brotherhood, which remained defiantly dug in at a protest camp the police have orders to remove.
There was no word on when the authorities would move against the vigil maintained by the Brotherhood since the army ousted Mursi on July 3 following mass protests. A cabinet statement on Wednesday appeared to signal imminent action.
CAIRO (Reuters) – Egypt faced the prospect of fresh bloodshed on Thursday after the country’s army-backed rulers signalled they would move soon to disperse thousands of supporters of deposed Islamist President Mohamed Mursi.
With no sign of a negotiated end to weeks of violent confrontation, Egypt’s interim government said two Cairo vigils by Mursi supporters posed a threat to national security, citing “terrorism” and traffic disruption.
CAIRO (Reuters) – Egypt’s army-backed rulers signaled on Wednesday that they could soon act to end weeks of sit-in protests by supporters of deposed President Mohamed Mursi, setting up a potentially bloody showdown with his Muslim Brotherhood.
In a televised statement, the cabinet installed by Egypt’s army after it overthrew Mursi on July 3 said two Cairo vigils by thousands of his supporters represented a “threat to Egyptian national security”, citing “terrorist acts” and traffic disruption.
CAIRO (Reuters) – Europe’s top diplomat shuttled between Egypt’s rulers and the Muslim Brotherhood on Monday in a mission to pull the country back from more bloodshed, but both sides were unyielding after 80 Islamist supporters were gunned down.
European Union foreign policy chief Catherine Ashton, making her second visit in 12 days as one of the few outsiders able to speak to both sides, made no public comment. Supporters and opponents of ousted Islamist president Mohamed Mursi left no doubt about the depth of polarisation in the Arab world’s most populous nation.