CAIRO (Reuters) – Mediating the Gaza truce was a bravura diplomatic performance by Egypt’s new President Mohamed Mursi, jacking up his personal stature and reassuring an anxious Washington that the architecture of Middle East peace can survive the Arab Spring.
For nearly two years, Washington has fretted over what would happen in a major showdown between Israel and the Palestinians without the Arab autocrats that kept stability for decades, above all Egypt’s Hosni Mubarak who presented himself as the personal guarantor of its 1979 peace with Israel.
CAIRO (Reuters) – Egypt reached a preliminary agreement on Tuesday with the International Monetary Fund for a $4.8 billion loan, a step seen as vital to shoring up the nation’s finances.
Investors who abandoned Egypt during the political turmoil that followed the overthrow of Hosni Mubarak last year have been looking to the IMF to give its seal of approval to the government’s economic program.
CAIRO, Nov 20 (Reuters) – Egypt reached a preliminary
agreement on Tuesday with the International Monetary Fund for a
$4.8 billion loan, a step seen as vital to shoring up the
Investors who abandoned Egypt during the political turmoil
that followed the overthrow of Hosni Mubarak last year have been
looking to the IMF to give its seal of approval to the
government’s economic programme.
CAIRO, Nov 19 (Reuters) – Egypt aims to secure agreement on
a $4.8 billion loan from the International Monetary Fund in a
few days to help shore up its battered finances, the prime
minister said on Monday.
The IMF team in Cairo said earlier on Monday it was
extending its stay for a few days and that it was having
“constructive consultations” with the government on a deal seen
as vital to restoring investor confidence in the economy.
CAIRO (Reuters) – Egypt’s prime minister said on Monday that an agreement brokered by Cairo to stop the fighting between Israel and the Palestinians in Gaza could be close.
“Negotiations are going on as we speak and I hope we will reach something soon that will stop this violence and counter violence,” Prime Minister Hisham Kandil said in an interview in Cairo for the Reuters Middle East Investment Summit.
CAIRO (Reuters) – Fifty people, mostly children, were killed when a train slammed into a school bus as it crossed tracks in a city south of Cairo on Saturday, state media and officials said.
All but two of the dead were children, aged around four to eight, said a senior security official in Assiut, near the site. One woman and the bus driver also died, he added.
CAIRO, Nov 15 (Reuters) – Egyptian tycoon Naguib Sawiris,
now seeking to buy a big stake in Telecom Italia, has won
admirers for his risk appetite and straight talk, but his blunt
approach has also often put him in hot water with business
partners and Islamists in Egypt.
The Christian billionaire, 58, made his name building a
telecoms empire in places many feared to tread, such as Algeria,
North Korea and war-torn Iraq.
CAIRO, Nov 12 (Reuters) – Telecom Egypt is in
advanced talks with the government on a deal allowing it to
offer mobile services in addition to its traditional mainstay
fixed-line business, where revenue is under pressure.
Telecom Egypt, which is 80 percent owned by the state, has
been relying on its data business to boost revenue. It also has
a 45 percent stake in Vodafone Egypt, which in the third quarter
accounted for a third of net profit.
LONDON/CAIRO, Nov 8 (Reuters) – Centamin said it
hoped to resolve a court case hanging over its Sukari gold mine
in Egypt during 2013, offering hope to shareholders worried
about the future of the gold miner’s only producing operation.
An Egyptian administrative court ruled at the end of October
that Centamin’s right to operate Sukari was invalid, slicing one
third off the company’s share price in a day.
The new Coptic Orthodox pope said on Monday that a constitution being drafted by Egypt’s politicians must be inclusive and the church would oppose any text that only addressed one part of the Muslim-majority nation.