Tags Posts tagged with "Egypt"
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Egypt's interim authorities on Thursday extended a state of emergency in force since mid-August by another two months because of the country's continued insecurity.
Seizing power in Egypt, the military last month stated one of its top priorities was to revive the country's battered economy. How difficult will it be, how severe is the damage to their hopes as pictures of the stand-off with the Muslim Brotherhood supporters are flashed across the world? Political stability is essential in any successful equation to tourists and investors while the protracted crackdown could lead to international financial sanctions. Tourism is one of the prime sources of foreign currency for Egypt and it has paid a heavy price for the instability. After falling in the wake of the Arab Spring in 2011 the number of visitors was again on the rise. The target for this year is 13 million which seems unrealistic. Traditionally, the tourism season opens at the end of June. This year, it got underway as the anti-Mursi movement began to gather momentum. The industry, which provides about 7 percent of GDP and employs 12 percent of the population has been hit. "The country is politically unstable, so how can it be economically stable? It just doesn't work. The first thing with the economic problem is security, if the issue with safety is resolved, the tourism problem will be resolved, everything will be resolved," pointed out one shop owner Sayed Ahmed. On Friday the British government along with several others advised against travelling to Egypt. Some tour operators have stopped all trips while several popular attractions in Cairo remain closed. Amid rampant inflation poised to exceed 13 percent, work is scarce. Unemployment is officially estimated at around 13 percent. The actual rate may touch the 20 percent mark.
Egypt's security services broke up camps occupied by supporters of ousted President Mohammed Morsi, and according to independent news reports close to 300 pe...
One of the major Egyptian developers has warned that it is running out of land.
Beyond the sandbags and sentries of Rabaa's fortifications, the streets are quiet in Egyptian capital Cairo. For more than a month, with tens of thousands of...
The Foreign & Commonwealth Office has advised Brits not to travel to Egypt unless it essential - except for certain resorts.
Global property markets are now in “full-scale bloom”, according to the latest data, with house prices climbing around the world in the first quarter of 2013.
Cairo and Cape Town lead 20 African cities that have been labelled by Jones Lang LaSalle as key opportunities for commercial property growth by 2030.
After a year of political turmoil, Egyptians have been taking some time out to enjoy the "Sham Ennisim" national holiday. It is traditional to head to a park and have a picnic with family and friends. The holiday, which celebrates spring, is marked by people of all religions. "Family and friends go out to the parks and tourist sites to enjoy this wonderful day," said one man in Cairo. Some people marked the day by heading out on a boat trip on the Nile river. "I hope that all days are like this one. I want Egyptians to be united. I wish them peace and I hope that the economy will recover," another man commented. Special foods are prepared for the holiday, including salted and smoked herrings and fermented fish. Coloured eggs are also on the day's celebratory menu. Euronews correspondent Mohammed Shaikhibrahim, in Cairo, said: "Sham Ennisim comes as a breather for Egyptians this year, to escape the atmosphere of political differences and security tension. It's about enjoying the atmosphere and popular dishes that characterise this occasion."