Analysts are sighing with relief as second-quarter figures for Middle Eastern loans out pace first-quarter numbers by 43%. Stability Replacing Uncertainty At the beginning of the year uncertainty was the main attitude of economists and other observers as they stood by watching the Middle East turn to flames during revolutions in Egypt, Tunisia, Libya and… Continue Reading
Tag Archives: Egypt
Skype Rebellion Met with High-Tech Listening
Skype was the method of choice for secure communications among anti-government organizers in Egypt during this past winter’s uprising, believing that Skype “cannot be penetrated online by any security device.” Government Listening However it turns out the protestors’ feelings of privacy were misplaced and Egypt’s security service was indeed listening in on their Skype conversations.… Continue Reading
IMF Says MENA Will Need $160 Billion In Coming 2 Years
The International Monetary Fund (IMF) prepared a report for the G8 summit which was held at the end of last week in Deauville, France which stated that the oil-importing nations in the MENA region (Middle East and North Africa) will need a boost of at least $160 billion of external funding to get them through… Continue Reading
World Bank Takes Optimistic View towards Mideast Upheaval
Long Term Positive Prospects The World Bank released a report on Tuesday saying that despite the short-term downward movement of Middle Eastern and Northern African economies, in the long run the world can expect to see positive movement in that region. The report is the World Bank’s regional economic update for May 2011 for the… Continue Reading
Egypt to Borrow $4 Billion from Saudi Arabia
Tantawi Announces Loan from Saudi Allies Field Marshal Mohamed Hussein Tantawi of Egypt told the official Egyptian press agency, MENA on Saturday that Saudi Arabia will lend Egypt emergency monies in the amount of $4 billion. Tantawi, who is the head of Egypt’s ruling military council said, “The $4bn will be distributed in the form… Continue Reading
Reaction to bin Laden Slaying Mixed in Middle East
As the Middle East continues to deal with instability and changing political realities a new element has been added into the mixture, with unclear results. The news of the death of Osama bin Laden was met with a large variety of responses from Middle East observers; from shock and anger, to satisfaction and delight. Saudi… Continue Reading
Mubarak Blamed for Deaths During Revolution
A new investigation by the Egyptian government into who bears responsibility for the bloodshed and violence during the three-week long revolution which took place in Egypt last February points an incriminating finger at then President Hosni Mubarak as being at least partly responsible for the approximately 846 deaths which occurred during the uprising. The investigation… Continue Reading
Mubarak Quakes Under Questioning
Hosni Mubarak ended up in hospital which took him away from being questioned as he was “suffering heart problems.” He was being probed about the protesters who were killed along with his own alleged public funds embezzlement. Mubarak’s two sons (Gamal and Alaa) were also being questioned for corruption and then detained for 15 days.… Continue Reading
News from Libya, Egypt and Saudi Arabia
Libyan Rebels Retake Brega With air support from the United States and its allies Libyan rebels have made major progress across Libya—taking the centrally located city of Ajdabiya, recapturing the eastern city of Brega and making steady advances towards the important oil depot of Ras Lanuf. Warplanes from the west have been bombarding the strongholds… Continue Reading
Unrest in Egypt Continues While Sudan Strengthens Ties There
Nearly a month after the fall of President Hosni Mubarak of Egypt, violence escalated once again on Tuesday as Christians and Muslims fought each other in the capital city of Cairo. Thousands of Christians gathered in two separate locations in Cairo to protest what they perceive as persecution and discrimination by the country’s Muslim majority.… Continue Reading