Nabil Fahmy, Egypt's foreign minister, says America's influence in the Middle East will diminish if it fails to engage with the region¿s problems.» Read More
It’s been just over a year since former Egyptian President Hosni Mubarak stepped down after 18 days of protests, but the country’s grueling transition continues to weigh heavily on its economy.
CNBC's Bertha Coombs and Jon Fortt, report Facebook has filed papers with the SEC for a Q2 IPO. Also, Defense Secretary, Leon Panetta announced today, the U.S. will shift it's strategy in Afghanistan; at lease 70 people were killed at a soccer match turned violent in Egypt; and American Airlines is looking to cut 13,000 jobs.
Iranian authorities have reacted to the decision by the European Union on an embargo by calling for an immediate halt to oil sales to the continent. In a statement on its website, the Iranian Oil Ministry described the European Union’s decision as “hasty” and “a political game”.
The anxious exchange of statements and explicit threats between the U.S. and Iran mark a notable escalation and leave the energy markets struggling to understand the implications.
Now that the "Arab Spring" is turning into the "Arab Winter" the former prime minister writes, "the challenge emerging from the changes taking place is so big that we had better put in place a common Western strategy or we'll find that national approaches are totally irrelevant to shape events there."
CNBC's Yousef Gamal El-Din has the latest on Egypt's first parliamentary elections since Hosni Mubarak was ousted nine months ago.
CNBC's Yousef Gamel El-Din has the details on Egyptians taking to the polls to take part in the first election since the end of Mubarak's rule.
Yousef Gamal El-Din reports live from Cairo on the Egyptian elections.
Egypt's first parliamentary elections since the departure of Hosni Mubarak are scheduled to begin today. CNBC's Yousef Gamal el-Din reports the complicated process makes it hard for women and Christians.
Colin Chapman, vice president for Asia Pacific for Stratfor, says the key question from Egypt's elections is how well the Muslim Brotherhood will do in the polls.
Protestors in Cairo’s Tahrir Square were preparing for a million-man march on Friday to call on the ruling military council to step down, saying steps announced recently were insufficient.
Florence Eid, founder and CEO of Arabia Monitor, told CNBC, " In Egypt the test today is whether the elections are postponed or not, my hope is that they will go through on schedule and that they won't be interrupted through the process."
As clashes between protestors and security forces were still ongoing in several cities across Egypt, an address to the nation by the head of the ruling military council on Tuesday night was rejected by the crowds in Cairo's Tahrir Square.
WNBC's Jonathan Dienst has the latest details on the deadly protests in Egypt, with NBC's Richard Engel; Chevron says it has plugged a leak from a broken well; the AT&T/ T-Mobile merger is headed to an administrative judge for review; and the trustee for MF Global recovered $1.3 billion from Harris Bank, but another $1.2 billion may still be missing.
CNBC's Yousef Gamal El-Din has the latest details on the ruling military in Egypt pledging to speed up the transition to civilian leadership as the turmoil in Cairo continues.
Egypt's ruling military moved up the date for transferring power to a civilian government to July of next year and consulted Tuesday with political parties on forming a new Cabinet. But the major concessions were immediately rejected by tens of thousands of protesters in Cairo's iconic Tahrir Square threatening a "second revolution."
CNBC's Yousef Gamal El-Din has the latest developments in Egypt.
The head of Egypt's ruling army council will deliver a statement to the nation later on Tuesday, state television said, as protests demanding an end to military rule intensify.
Just as in January, the White House is confused and distracted. Stability in the volatile Middle East is what the White House desires and a cautious and long-drawn out transition to democracy guided by the Army seemed to be the best option to prevent any radical developments in Egypt. This scenario, however, is no longer realistic.
Egyptians converge on Tahrir Square for 4th day, with CNBC's Yousef Gamal El-Din.