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Hosni Mubarak

  • CAIRO— Egypt's central bank says the Egyptian pound has fallen to a new low against the dollar, its second such drop since Thursday. The central bank set a cutoff rate of 7.73 Egyptian pounds per dollar in an auction that sold $39.6 million on Sunday, compared to the previous rate of 7.63. Egypt's government is trying to send the message that the country is open for...

  • CAIRO, July 1- After a year in power, Egyptian President Abdel Fattah al-Sisi's aura of invincibility may be fading as he comes under closer scrutiny from a public growing impatient with the same social inequalities that triggered a mass uprising in 2011.. I'm fed up with this entire country, "complained a 35- year-old food cart owner at a crowded market in...

  • BERLIN— The Al-Jazeera journalist who was detained in Berlin on an Egyptian arrest warrant has been released from custody, and is free to leave the country, Berlin prosecutors said Monday. Ahmed Mansour, 52, was detained on Saturday at Berlin's Tegel airport as he tried to board a Qatar Airways flight to Doha. Berlin prosecutors decided Monday afternoon to free...

  • CAIRO— Switzerland is dropping part of a prosecution case against Egypt's longtime autocrat Hosni Mubarak, his close aids and family members, involving hundreds of millions of Swiss francs frozen in Swiss banks. Switzerland froze the funds and opened criminal proceedings over suspicion of money laundering and "support of a criminal organization" after the...

  • CAIRO, June 14- The legal framework for a proposed 5 billion Egyptian pound sovereign investment fund will be complete within four months, Egypt's state news agency quoted the planning minister as saying on Sunday. Amlak will be state-owned through the National Investment Bank. Egypt's current government has since embarked on a series of reforms and hosted a...

  • *Two attacks in eight days on top destinations. CAIRO, June 11- After a violent campaign directed at security forces, Egyptian militants appear to be zooming in on President Abdel Fattah al-Sisi's most vulnerable point: the economy. Security forces on Thursday dismantled a bomb found at the entrance of the supplies ministry in Cairo, state news agency MENA said.

  • CAIRO, April 26- Egypt's currency black market, a thorn in the side of successive governments, has virtually disappeared in the past two months following a central bank crackdown. The black market had flourished as a slump in tourism and investment since the overthrow of Hosni Mubarak in 2011 limited supply of hard currency-- undermining an image of relative...

  • SHARM EL-SHEIKH, March 14- One of Egypt's leading businessmen said on Saturday the country needs to fire inefficient civil servants to attract investment and strengthen the economy. Foreign investors have criticised bureaucracy and a bloated civil service of about seven million in Egypt, the most populous Arab country. "Changing the mindset of all the...

  • SHARM EL-SHEIKH, Egypt, March 13- Qalaa Holdings, one of Egypt's largest investment companies, said on Friday its investment strategy would focus on opportunities presented by reforms in the energy sector. Speaking at an investment conference in the Red Sea resort of Sharm El-Sheikh, Qalaa chairman Ahmed Heikal said he was highly encouraged by the...

  • CAIRO, March 11- Egypt's government is expected to approve on Wednesday a lower tax ceiling for companies and individuals in high income brackets in order to attract investors and boost the economy, the investment minister said. The step comes days before Egypt holds an investment conference in the Red Sea resort of Sharm el-Sheik it hopes will attract...

  • ISMAILIA, Egypt, Feb 26- Egypt's military could help build an industrial hub around a new Suez Canal, the project's manager said, the first suggestion that the armed forces may play an important role in the huge investment venture planned alongside the new waterway. The army began in August digging the new $8 billion canal that President Abdel Fattah al-Sisi, the...

  • Egypt's decision to buy 24 of the Dassault Aviation fighters follows failures by successive French governments to sell the plane and leapfrogs three years of inconclusive talks for a 126- plane contract with India. Sisi has been looking to upgrade Egypt's military hardware over fears Islamist militias in neighboring Libya could take control and directly...

  • BRUSSELS, Feb 12- French President Francois Hollande said Egypt would order 24 Rafale fighter jets, a naval frigate and related military equipment in a deal to be signed in Cairo on Monday worth more than 5 billion euros. The contract would make Egypt, aiming to upgrade its military hardware amid fears the crisis in neighbouring Libya could spill over, the first...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. Egypt's current government has since embarked on a series of reforms, and asked the IMF to assess its financial and economic condition in the...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed...

  • *Cairo fears spillover from Libya conflict. PARIS, Feb 10- France is close to selling Dassault Aviation- built Rafale fighter jets to Egypt, sources close to the matter said on Tuesday, as Cairo looks to upgrade its military hardware over fears the crisis in neighbouring Libya could spill over. France and Egypt have been negotiating since a November state visit by...

  • *Tahrir Square site of largest protests in 2011 uprising. CAIRO, Feb 8- A circular patch of land in Cairo's central Tahrir Square poses a dilemma for the government: how to honour the epicentre of the 2011 popular uprising while pressing ahead with one of the fiercest crackdowns on dissent in Egypt's history? This is good, " Cairo Governor Galal Mostafa Saeed told...

  • HUSAYNAT, Egypt, Feb 4- At a remote spot in the Sinai desert last month, a commander of Egypt's most feared Islamist group outlined his hopes of toppling the country's government. "We will create an Islamic state in Egypt," he said. The militant said he was from the Ansar Bayt al-Maqdis group, which has killed hundreds of security forces since the military ousted...

  • DAVOS, Switzerland, Jan 23- Egypt can expect economic growth "easily north of 4 percent" in fiscal year 2014-15, which ends in June, boosted by rising confidence and a windfall from lower oil prices, its finance minister said on Friday. Egypt suffered a severe economic crisis after the 2011 uprising that toppled veteran autocrat Hosni Mubarak, ushering in a period...

  • POLL-Egypt's economy seen growing 3.5 pct in 2014/15 Thursday, 22 Jan 2015 | 7:19 AM ET

    The forecast is in line with the government's target for the 2014/ 15 fiscal year that began in July and would represent a modest rebound for Egypt, which has struggled to restore growth during four years of political turmoil. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president...