Less than a month after the Russian invasion of Ukraine, on 21 March 2022, faced with an exceptional rise in food and energy costs, Cairo’s Central Bank raised its base interest rate by 100 points, and devalued the Egyptian pound by some 15% after having spent several days wasting more …
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Province of Sinai claims killing 17 Armed Forces personnel in attack near Suez Canal
Province of Sinai, the Islamic State affiliate in Egypt, claimed responsibility on Sunday night for killing 17 military personnel in a Saturday attack on a water pumping station in an area east of the Suez Canal.
Read More »Egypt to offer military-owned firms on stock market this year
Egypt intends to list military-owned companies on the stock market before the end of 2022, as it grapples with the economic impact of Russia’s invasion of Ukraine.
Read More »Sinai residents asked to return as army and tribes curb IS presence
After years of fighting the Islamic State branch in the Sinai Peninsula, the Egyptian military, backed by tribal fighters, is making progress in clearing out the area of militants and calling on citizens to return to villages they were forced to leave.
Read More »Egyptian BDS denounces plans to host Israeli festival at military-linked resort in Sinai
The Egypt-based branch of the Boycott, Divestment, Sanctions (BDS) of Israel movement strongly denounced on Wednesday plans to host an Israeli music festival at a hotel affiliated with the Egyptian army in the south of the Sinai.
Read More »US Navy says new task force to patrol Red Sea amid Yemen war
The United States Navy said Wednesday it will begin a new task force with allied countries to patrol the Red Sea after a series of attacks attributed to Yemen’s Houthi rebels in a waterway that is essential to global trade.
Read More »Throwing Down the Gauntlet: What the IMF Can Do About Egypt’s Military Companies
Until recently, both the International Monetary Fund (IMF) and the World Bank were wholly reticent to say anything about the involvement of the Egyptian Armed Forces (EAF) and other military agencies in Egypt’s civilian economy. This is a longstanding problem. By turning a blind eye to the diversion of resources …
Read More »Russia-Ukraine war: Moscow’s quest for Middle East arms deals upended by fighting
Russia’s invasion of Ukraine is upending nearly a decade of progress by the Kremlin to expand into the Middle East’s lucrative arms market.
Read More »State-allied tribal groups lead renewed fighting against militants in eastern North Sinai
Four fighters from tribes in North Sinai that are allied with the government were killed in the Thursday afternoon explosion of an improvised explosive device, according to statements from tribal groups.
Read More »Egypt’s and Sudan’s chiefs of staff discuss military cooperation in Cairo
Chief of Staff Osama Askar received his Sudanese counterpart Mohamed Othman in Cairo as part of the eight meeting of the Egyptian-Sudanese military Committee on Wednesday.
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