Egypt’s markets watchdog has told local brokerages and portfolio management firms that they can no longer trade foreign securities, saying it exposes investors to risks that Egyptian authorities are unable to monitor. A decree signed this week by Prime Minister Kamal al-Ganzouri amends Egypt’s capital market law to make it illegal for the firms
Egypt’s Muslim Brotherhood presidential candidate Mohammed Mursi pledged late Wednesday that the country would “no longer be submissive to the West” if he assumes office after a runoff vote later this month. Mursi, the frontrunner who won 24.77 percent of the vote in the first round of elections in May and will square off
Egypt’s ruling military council on Tuesday gave political parties a two-day ultimatum to issue a parliamentary decision on the membership for the country’s constituent assembly – tasked with drafting a new constitution – or else it would issue a ‘constitutional annex’ or revive the 1971 constitution. After a meeting with Egypt’s ruling Supreme Council
Israel has renewed its criticism of Iran’s atomic agenda on Wednesday, accusing Tehran of working covertly on nuclear weapons while deceiving the international community by saying it does not want such arms. An Israeli delegate to the International Atomic Energy Agency (IAEA) said Iran had been working under a strategy he dubbed as “deception,
Sudan’s annual inflation hit 30.4 percent in May, accelerating from 28.6 percent in April as prices for basic food items such as bread and meat climbed further, adding to woes of officials struggling to contain a severe economic crisis. In an effort to curb the Sudanese pound's slide, the central bank also started allowing
Former Egyptian President Hosni Mubarak's condition is deteriorating rapidly both physically and psychologically as he lies in the hospital wing of Cairo's Tora Prison, in the intensive care unit. His son Gamal, also incarcerated, was moved by Interior Minister Prisons Department Chief Mohamed Naguib to a ward next to the hospital in order to
A national Muslim civil rights organization filed a lawsuit against the NYPD today in Newark in response to the surveillance of Muslim-Americans in mosques, businesses and student groups. It is the first lawsuit to directly challenge the NYPD's surveillance programs, which were the subject of an investigative series by The Associated Press since last
U.S. embassy offices in Libya’s eastern city of Benghazi came under attack during the night but there were no casualties, embassy and security sources said on Wednesday. “There was an attack late last night on the United States office in Benghazi,” a U.S. embassy official said, adding that only the gate was damaged and
Egypt’s Supreme Constitutional Court is to sit just two days before a presidential election run-off to review the legality of a law that had threatened to bar one of the two remaining candidates, a spokesman said on Wednesday. “The court has scheduled June 14 as the date for its hearing on the appeal lodged
President Barack Obama for the seventh time has exercised the “security” waiver allowing him to ignore a Congressional law that the U.S. embassy be relocated to Jerusalem. The 1995 law requires the embassy to be located in the capital unless the president decides that doing so would endanger national security. Every American president has
