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Jul 2, 2015

Egypt’s central bank lets pound weaken by 1.3 pct

CAIRO, July 2 (Reuters) – The central bank let the Egyptian
pound depreciate for the first time in five months on
Thursday, a move analysts said would please the international
investors that Cairo is courting.

The bank said it sold $38.8 million at a cutoff price of
7.63 pounds per dollar at a regular auction, sending the
currency to its weakest level since auctions began in December
2012.

Jun 30, 2015

Egypt’s Sisi promises tougher legal system as prosecutor buried

CAIRO (Reuters) – Egypt’s president told mourners on Tuesday at the funeral of the country’s top prosecutor, killed by a car bomb, that he would unveil tough new security policies in the coming days, vowing that death sentences would be carried out.

Monday’s killing of public prosecutor Hisham Barakat, the most senior Egyptian official to die in such an attack in years, cast doubt on Egypt’s ability to contain an Islamist insurgency that is picking increasingly high-profile targets.

Jun 30, 2015

Egypt’s Sisi promises tougher legal system at prosecutor’s funeral

CAIRO (Reuters) – Egyptian President Abdel Fattah al-Sisi on Tuesday attended the funeral of Egypt’s top public prosecutor killed by a car bomb on the previous day, and said he would within days reveal legal reforms that would allow a tougher line against militants.

Public prosecutor Hisham Barakat was the most senior Egyptian official to be killed in years, and Monday’s attack has cast doubt on Egypt’s ability to contain an Islamist insurgency that is picking increasingly high-profile targets.