‘Bikinis and booze are welcome in Egypt’ as Brotherhood chooses money over religion
- Published on Monday, 06 May 2013 05:02
- 4 Comments
Sharm El-Sheikh, Egypt – Source: Treehugger.comIt’s no secret that Egypt is short on cash these days. Qatar and Libya have already pumped in billions to help support the economy. However, discussions with the IMF have not gone so well and the $4.8 billion loan (expect Egypt to ask for even more) is on hold for now. What’s a new cash-strapped Islamist government to do? For starters, they can promote bikinis on the beach and booze at the bar…
Egypt hopes to close budget deficit in the coming years, but how?
- Published on Sunday, 05 May 2013 10:49
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HSBC mulls Iraq exit as management continues to flip-flop on its strategy
- Published on Monday, 22 April 2013 17:38
- 1 Comment
Qatar backtracks on aid to Egypt, Libya joins in and gives Egypt $2 billion interest-free loan
- Published on Friday, 12 April 2013 07:49
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Arab allies Qatar and Libya gave cash-strapped Egypt a $5 billion double boost on Wednesday as the Arab world’s most populous nation struggles to secure an IMF loan to ease its deepening economic crisis.
Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani said after talks with Egyptian Prime Minister Hisham Kandil that Qatar would provide an extra $3 billion on top of some $5 billion the Gulf state has already given Cairo, and would extend gas supplies to Egypt this summer as needed.
Top 10 reasons why Egypt is headed for economic disaster
- Published on Monday, 08 April 2013 07:40
- 3 Comments
This optimism, however, has now faded as the difficulty in transitioning to democracy became apparent. Since President Mursi took office, things have been going down hill for the country. Egypt faces enormous challenges, which few are willing to discuss much less attempt to address. This is why we see Egypt headed for economic disaster. Here are the top 10 signs that show why the country is facing such an ugly future: