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New floating-rate notes see significant success

By Hend El-Behary The Ministry of Finance has received offers equating to EGP 2.5 billion for the first Floating-Rate Note (FRN) ever issued in Egypt. The move comes in the context of the ministry’s strategy to diversify public debt instruments, according the ministry’s press release. FRN are bonds with a variable interest rate. The adjustments …

Daily News Egypt

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In Pictures: Tahrir Square renovation

Workers are cleaning, paving and planting Tahrir square following the orders of Prime Minister Hisham Qandil who declared his intention to turn the square into a global tourist attraction. According to Qandil, the plans aim to upgrade the square that was the epicenter of the revolution against Mubarak’s rule at the beginning of 2011. Tahrir …

Daily News Egypt

Euromoney Egypt Conference Confirmed for October 9-10

The Euromoney Egypt Conference 2012 will now be held on 9 and 10 October at The Fairmont Towers Hotel, Heliopolis.  Euromoney confirms that HE Dr Hisham Kandil will open the conference. Other government speakers include the Minister of Finance, Minister of Investment and Minister of Communications and IT. Political leaders from many parties will also …

Daily News Egypt

CAPMAS: Trade deficit has risen 48 per cent

By Hend El-Behary Egypt’s trade deficit nearly doubled, reaching EGP 17.6 billion in June, compared to EGP 11.9 billion in the same month last year, a 47.9 per cent jump according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). Exports have plunged by 18 percent, falling to EGP 14.6 billion, a decrease of …

Daily News Egypt

Government promotes public-private partnerships

Driven by the current financial shortfall, the Egyptian government has begun discussions regarding prospective public-private partnerships (PPP). According to officials, PPP are intended to catalyse infrastructure development, of which the country is in desperate need. The Ministry of Finance launched the MENA Project Finance and PPP two day conference yesterday, under the patronage of Prime …

Islam Serour

The soaring hunting hawks of Gzert Saod

Maintaining this heritage is not without controversy though. “Hunting with hawks is treated like dealing with drugs,” Sheikh Metlq El Tahawy said, referring to an environmental law that forbids hunting with hawks and imposes fines of up to EGP 50,000 on those who breach it.

Daily News Egypt

The ancient art of tally

There are three types of tally; Islamic, Coptic and folkloric with overlapping designs between the three types. “The first piece of tally I saw in Asyut belonged to an old, simple woman. It was a folkloric piece which depicted carvings of mosques and churches beside each other,” said Zaghlol.

Daily News Egypt

Chilean culture week opens in Cairo

The works were all representative of the artists’ native Chile in one way or another, often reflecting both the nature and people of Chile. In addition to the artworks exhibited in Cairo, the Bibliotheca Alexandrina has also received 13 works in a notable ceremony that will be permanently on display there.

Daily News Egypt

Mohammed Aly Ibrahim

Praying at gunpoint

By Mohammed Aly Ibrahim The fear of Friday 13th in western superstition as an unlucky day touched upon me as I was heading to perform my weekly prayer. Many Egyptians, myself included, think that the mosques of Prophet Muhammad’s ancestors here bestow endless blessings upon those who regularly visit such places of worship. The most …

Daily News Egypt

Review: freedom of expression debated in Egyptian columns

As the reaction to the US movie offensive to prophet Muhammed slows down, columnists across several Egyptian newspapers continue with their analysis of freedom of expression and its relation to the clip. Many writers touch upon the violent reactions towards the movie recalling the indecent words of many Islamic preachers while attacking certain artists. Some …

Daily News Egypt

The trouble with the Cairo International Film Festival

“The FIAPF has not specified that this will happen though obviously it would not be good if the festival was not held two years in a row. But why would it not be held? We have permission from the FIAPF to hold it. The only reason why it would not happen is because the Ministry is in the way. This is a clear case of the minister creating the problem and then using it as an excuse to bring the organization back under the his wing.”

Daily News Egypt

Photography courses at CIC

CIC aims to encourage development of “artistic practice, engagement and discourse” as stated on their website. Part of this mission is the CIC PhotoSchool that will start its fall semester on 25 September. This week, open photography classes that offer a taste of the different subjects that will be taught this fall are available to anyone contemplating singing up for a class at the CIC premises.

Adel Heine

Review: op-ed pages continue to fill up with commentary on offensive movie

As incidents escalate in reaction to the offensive movie about prophet Muhammed, columnists continue to analyse the mounting anger of Egyptians.   Wael Qandil What after invading the US embassy? Al-Shorouk newspaper Recalling the latest chaos that took place within the margins of the US embassy in Cairo in reaction to the US anti-Islam movie, …

Daily News Egypt