Category: North Africa

The latest Emirati deposit of one billion dollars to Egypt is “timely” and contributes to the stability of the pound, the governor of the Central Bank of Egypt (CBE) said on Wednesday. In his statements to the Emirati state-owned news agency, WAM, Tarek Amer said that the deposit will support Egypt’s foreign reserves enough to…

Turkish Airlines has decided to resume its flights to Egypt’s resort city of Sharm el-Sheikh starting September 10, the Turkish embassy in Cairo said on Wednesday. Turkey’s national flag carrier suspended its flights to the Red Sea resort of Sharm el-Sheikh in the wake of the downing of a Russian airliner in the Sinai Peninsula…

Egypt’s Minister of Supplies Khaled Hanafi officially announced his resignation on Thursday, amidst probes into domestic wheat corruption. “The experience has proven that accepting any position is no longer an asset or a picnic, especially as some of the issues raised were personal ones,” Hanafi said in a press conference after submitting his resignation to…

Egypt and Russia agreed on a roadmap for the resumption of Russian flights and tourism to Egypt, Civil Aviation Minister Sherif Fathy said on Monday. Fathy said in a press conference that the roadmap includes the arrival of a number of delegations to inspect resorts, hotels and airports’ security. A Russian delegation is expected to…

Egypt’s President Abdel Fattah al-Sisi approved on Sunday the amendments of a central bank law that imposes harsher punishments on illegal foreign currency traders, amid wider efforts to crackdown on the black market. The House of Representative approved earlier in August. The House has set prison sentences between three to 10 years and fines up…

A total of 53 foreign exchange bureaus have been closed since the start of the year, deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said on Friday. The CBE has accelerated a crackdown against black market traders, closing a large number of the countries’ foreign exchange offices, which it blames for growing…

The Egyptian investments in Sudan amounted to $ 2.3 billion, mostly in Khartoum State in fattening cattle projects and fodder cultivation at west Omdurman area, which is considered as one of the successful and of the large economic returns projects. This was announced by the Minister of Investment Dr. Mudathir Abdul-Ghani in an interview with…

The Federal government of Somalia says it seized a shipment of expired food aid imported by a relief agency from Egypt at Mogadishu seaport on Sunday (July 29, 2016). Speaking at a press conference in Mogadishu, the state minister of the interior ministry Abdirashid Mohamed Hidig, said the food aid was destined to drought-hit areas…

Egypt’s prosecutor general ordered on Saturday the detention of 13 defendants for 15 days pending investigation over allegations of fraud in local wheat procurement. The defendants face accusations of facilitating seizure of public funds, illicit profiteering and forgery. The prosecution ordered last week travel bans and asset freeze on those involved in the case. Egypt,…