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Egypt News

  • Egypt state firm entering thriving mobile sector

    EGYPT, 2017/11/29 Telecom Egypt looks to cash in on mobile sector but some fear its exemption from price hike in mobile services may be part of broader pattern of unfair privileges. As Egypt's mobile operators thrive, national-owned Telecom Egypt is entering the market in an effort to boost national revenues. In a country with additional mobile phone subscriptions than residents, Egypt's only fixed-line operator is hoping to get in on the action with its new mobile service, WE.
  • Egypt economy likely to remain unshaken by Sinai attack

    EGYPT, 2017/11/29 The mosque attack in Egypt's Sinai may only strengthen the view that the country needs continued IMF support as agreed a year ago and the economy is likely to quickly shake off any negative repercussions, economists say. Gunmen carrying the flag of Islamic National killed additional than 300 worshippers in the attack on the mosque, the worst such attack by militants in Egypt's modern history.
  • Extremists attacked mosque in Egypt

    EGYPT, 2017/11/29 Extremists attacked mosque in Egypt because they believe Sufi Muslim worshippers are heretics who must be ‘eradicated’ Rawda Mosque is frequented by Sufi Muslims, followers of a mystical form of Islam that is deemed to be heretical by Islamic National and other Sunni extremists. On Friday, at least 305 Egyptians were killed by terrorists who detonated a bomb in a crowded mosque, again sprayed frantic worshippers with gunfire as they fled. It was deadliest attack in the country’s modern history. It “was horrific,” local Ibrahim Sheteewi told The New York Times.
  • More funding in the pipeline as Egypt’s economic reforms yield results

    EGYPT, 2017/11/11 Egypt is continuing its programme of fiscal consolidation, exchange rate liberalisation and pro-investment reform, with the country expected to receive an extra multibillion-dollar tranche of funds from creditors following a year-end review. In September the IMF released a statement stating that Egypt had made a “good start” to its $12bn loan transaction, with the fund noting that reforms had helped boost increase, rein in the budget deficit and eliminate foreign currency shortages that were before putting pressure on a lot of businesses.
  • British woman languishes in Egyptian jail for carrying painkillers

    EGYPT, 2017/11/04 Egyptian authorities have detained a British woman who entered the country carrying painkillers. Laura Plummer, 33, a shop worker who lives in Hull, was arrested next 290 tramadol tablets and some naproxen for her husband’s sore back was found in her suitcase. She again reportedly signed her name beneath a 38-page statement in Arabic, upon request, believing she would be able to leave the airport afterwards and begin her two-week break by Red Sea.
  • Namibia Scraps Visas for Africans

    BOTSWANA, 2017/11/01 Namibia has gotten the ball rolling on plans to scrap visa requirements for African passport holders next Cabinet authorised the implementation of this process - to be carried out in line with diplomatic procedures. Namibia will any minute at this time start issuing African passport holders with visas on arrival at ports of entry as a initial step towards the eventual abolition of all visa requirements for all Africans.
  • Africa: Experts Explore Infrastructure and Cooperation to Improve Lives

    BOTSWANA, 2017/11/01 Addis Ababa — African economies require structural transformation to attain sustained increase that trickles down to all its peoples, an official from the United Nations Economic Commission for Africa (ECA) told experts gathered at the organization’s Ethiopian headquarters. Soteri Gatera, who heads the ECA’s Industrialization and Infrastructure Section, says only such “inclusive” economic increase will help resolve the “persistent social economic problems” Africa faces.
  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Africa’s Growth: Nobel Laureate Joseph Stiglitz Calls For New Strategy

    BOTSWANA, 2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.
  • Ecobank launches mVisa across 33 African Countries

    BOTSWANA, 2017/10/19 Ecobank Scan+Pay with mVisa delivers instant, fasten cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a incomparable merchant identifying code into either a feature phone or smartphone Ecobank (https://Ecobank.com) has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to due access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).