Tarak Ben Ammar, the media mogul who produced over 60 films in the past thirty years recently purchased an Egyptian TV network in a deal worth tens of millions of euros. Ben Amar stated that this is the first step in the creation of a pan-Arab media group. Ben Ammar, who owns the North African… Continue Reading
Category Archives: Egypt
Egypt Seeking $3.2 Billion in IMF Aid
Backtracking on their previous refusal of aid from the International Monetary Fund and the World Bank, Egypt requested $3.2 billion in loan money from the IMF on Monday. Egyptian officials decided that the money was essential to repair the Egyptian economy after a full year of political unrest which repelled tourists and investors alike. A… Continue Reading
Egyptian Marble Industry Growing To Number One in World Exports
Analysts believe that under the correct conditions investments in the construction industry in Egypt will continue to grow, and the most impressive growth will be in the granite and marble sector of that market. Experts believe that revenues for the marble and granite industry in Egypt can reach as much as 2 billion dollars in… Continue Reading
Muslim Brotherhood Gets Active
First of all, in Egypt, the Muslim Brotherhood is making a noise about the involvement of the military vis-à-vis the writing of a new constitution. Secondly, the same organization is getting busy with the provision of free meals to the poor each night for the month of Ramadan. It used to be – in the… Continue Reading
Khalil Release
BBC journalist Shaimaa Khalil was released after being held for 20 hours at an Egyptian military base and then on to a military prosecutor’s office. According to a BBC News Article from yesterday, it remains unclear whether or not she will “face further action by the authorities.” At this point also, no-one is quite sure… Continue Reading
Depressed Mubarak Awaits Trial
Depressed Mubarak Awaits Trial The former president of Egypt, Hosni Mubarak is depressed. In addition, according to Egypt’s official news agency, the man is physically weak and refuses to eat any solid food. His depression is probably at least somewhat fueled by the fact that later this week he will be standing trial for ordering… Continue Reading
Hosni Mubarak in a Coma in Sharm el-Sheikh
Heart Attack The 83-year-old former president of Egypt, Hosni Mubarak, is said to have suffered a heart attack and lapsed into a coma in the Red Sea Resort city of Sharm el-Sheikh. President Mubarak has been under arrest in the southernmost tip of the Sinai Peninsula desert ever since his ouster from power during the… Continue Reading
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