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Deserted Naama Bay

A picture taken on 18 February 2014 shows the nearly deserted Naama Bay shopping district in the Egyptian Red Sea resort of Sharm el-Sheikh on 18 February 2014. The decline in tourism since the fall of Egyptian president Hosni Mubarak has hobbled Egypt’s economy. AFP PHOTO / KHALED DESOUKI

Daily News Egypt

EFG seeks to increase assets under management in Egypt

Reuters – EFG Hermes, one of the largest investment banks in the Middle East, is seeking to expand its assets under management in Egypt by 25% this year, a senior executive said on Tuesday. Nabil Moussa, head of asset management for EFG in Egypt, told reporters that of the $3bn in assets the bank manages …

Daily News Egypt

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The nature of trekking in the Sinai Mountains

    By Ahmed Shams, PhD Changing weather and long treks “The sun had been shining as if [it was] summertime; it turned hot! We decided to follow Wadi Thabt, Wadi Qasuriya, the Wadi Junction, and Wadi Rimhan instead of Wadi Tarfaa, towards the abandoned building of St. Catherine Natural Protectorate in Rahaba Plain in …

Daily News Egypt

Central Bank of Egypt earmarks $1.44bn for low-cost housing

Reuters – Egypt’s central bank said on Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects, one of the demands in protests that led to the ouster of autocratic President Hosni Mubarak in 2011. Better living conditions, an end to official corruption and more democratic rights figured prominently in those protests. About half …

Daily News Egypt

Adel Heine1

Home sweet home

The reality of living somewhere does not relate to what is portrayed in the news when it comes to being home

Adel Heine

Dr. H.A. Hellyer

Preventing terror is a job for all

Earlier this week, a bomb attack on an Egyptian tourist bus took place in Sinai, taking the lives of three South Korean tourists, and one Egyptian driver. More were wounded in the attack, which was claimed the following day by the Ansar Beit Al-Maqdis (ABM) group as part of an “economic war” against Egypt’s military-backed …

H.A. Hellyer

Egypt Hits 5-year high on Election Law talk; Q4 reports hurt Dubai

Reuters – Egypt’s bourse surged to a five-year high after a local newspaper reported that discussions over a new presidential election law would begin on Wednesday, while Dubai’s shares fell in profit-taking after mixed earnings reports. Cairo’s Al-Ahram said an administrative court, under the mandate of the 2014 constitution, would start discussions on the draft …

Daily News Egypt