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Cash trickles back to emerging markets, faces growth challenge

Reuters – Investors are starting to move back in to emerging stocks and bonds after a long hiatus, data from fund tracker EPFR shows, but the economic slowdown gripping the developing world is likely to constrain market rallies. Emerging stock and bond funds saw their first weekly inflows after more than $50bn fled in the …

Daily News Egypt

Egypt’s mafia fund

By Farah Halime A private equity fund launched by Gamal Mubarak managed to reel in millions of dollars of investment from Egypt’s elite, revealing the depths to which political and business connections ran as he began rising in stature in the late 1990s. According to a document obtained by Rebel Economy, Gamal Mubarak’s $54m Horus I Fund, …

Daily News Egypt

Egypt’s secret Swiss bank

By Farah Halime Nestled in the heart of downtown Cairo is the opulent headquarters of Arab International Bank, a secretive bank that has allowed kleptocrats to funnel money out of the country for decades with barely any regulatory oversight. The bank, established in 1974 by a treaty signed by Egypt, Libya, Qatar, Oman and the UAE, is exempt …

Daily News Egypt

Why Egypt’s army is bad at doing business

By Farah Halime General Abdel Fattah Al-Sisi must be revelling in the image of an all-powerful oligarch created by the media. Apparently he reigns over a sprawling economic empire that journalists describe (in now rather clichéd terms) as so varied that it covers everything from the production of flat-screen televisions and pasta to refrigerators and …

Daily News Egypt

Is the worst over for Egypt’s economy?

By Farah Halime Could Egypt’s economy be on the road to recovery? Some indicators suggest this might be the case. According to Reuters: Egyptian business activity shrank for the 13th month in a row in October but at a much slower rate, suggesting the economy may be improving after months of renewed political turmoil. The seasonally …

Daily News Egypt