Bureau Chief, East Africa
Edmund's Feed
Nov 19, 2012

Egypt’s PM says very close to IMF deal

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.

Nov 19, 2012

Egypt PM says Gaza truce deal may be close

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.

Nov 17, 2012

Train ploughs into school bus in Egypt, 50 killed

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.

Nov 15, 2012

Egyptian telco tycoon Sawiris heads back to Italy

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.

Nov 12, 2012

Telecom Egypt eyes deal with government on mobile service

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.

Nov 8, 2012

Centamin hopes to resolve Egypt mine case in 2013

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.

Nov 6, 2012
via FaithWorld

New Coptic Orthodox pope says Egypt’s constitution must be inclusive


(Pope Tawadros II, the newly-selected 118th pope of Egypt’s Coptic Orthodox Church, speaks during an interview at the Wadi Natrun Monastery complex, northwest of Cairo, November 5, 2012. REUTERS/Mohamed Abd El Ghany)

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.

Nov 5, 2012

New pope says Egypt’s constitution must be inclusive

WADI EL-NATRUN, Egypt (Reuters) – 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.

Pope Tawadros II, picked on Sunday in a ceremony steeped in the traditions of a church that predates Islam’s arrival in Egypt, also told Reuters that Christians should be more active in seeking to shape Egypt’s politics after last year’s revolt.

Oct 31, 2012

Centamin to appeal against Egyptian goldmine ruling

CAIRO, Oct 31 (Reuters) – London-listed goldminer Centamin
will appeal against an Egyptian court ruling that has
declared invalid its rights to operate the Sukari mine, its main
asset, a senior executive said on Wednesday.

Centamin said after Tuesday’s ruling that operations were
continuing at Sukari, its only production asset, and the
administrative court which issued the decision did not have
jurisdiction over its mining rights. But shares in the firm fell
35 percent to 64 pence before trading was suspended.

Oct 24, 2012

Egypt shares, yields to depend on IMF talks

CAIRO, Oct 24 (Reuters) – The mood of Egypt’s financial
markets is likely to depend heavily next week on the
government’s progress in securing a $4.8 billion loan from the
International Monetary Fund.

An IMF team is expected to come to Cairo for talks after the
Eid al-Adha holidays, which run from this Thursday through
Sunday, according to Egyptian and IMF officials.

    • About Edmund

      "Edmund Blair is responsible for Reuters coverage from more than a dozen East African nations and Indian Ocean islands. He was bureau chief for Egypt and Sudan, and ran the bureau in Iran. He has worked across the Middle East and Africa, covering the Egyptian uprising, Iraq war, Palestinian-Israeli conflict and crises in East Africa. He also has experience in covering the oil and gas industry and financial affairs, including a period as an equities reporter in London."
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