7am News Wrapup May 22

CAIRO: Two men were killed early Thursday after a bomb they were planting exploded in Cairo’s El-Tebeen district. A few hours earlier, 11 military conscripts were severely injured after an unidentified assailant threw a grenade at a military vehicle.


Fared el-Deeb, the lawyer for ousted President Hosni Mubarak, said he will appeal the prison sentences handed to Mubarak and his sons Wednesday in an embezzlement case.

Mahmoud Fawzy, spokesman of the committee in charge of amending Egypt’s two election laws, said Wednesday the committee completed the amendments and is ready for a social dialogue on the draft laws before submitting them to the State Council.


Ministry of Electricity and Energy Spokesman Mohammed El-Yamani said this week that the government will begin using solar power in 1,000 government buildings, and soon all government buildings will be powered with solar energy.

The General Union for Egyptians Abroad (GUEA) is currently negotiating with the Central Bank of Egypt (CBE) to transfer about $135 billion in savings abroad as a move to boost Egypt’s foreign exchange reserves, GUEA deputy chief Mohamed al-Rayyan told Al-Ahram.

Beltone Financial Company announced Wednesday it will offer four new IPOs at the Egyptian Stock Exchange (EGX) starting next July, Mubasher news site reported.

Egypt’s deficit is expected to drop from its current 14 percent of GDP to 11-11.5 percent of GDP thanks to aid received from Gulf countries, Minister of Finance Hani Kadry said at a Tuesday conference.


Egypt’s doctors syndicate organized a Tuesday conference titled “What Do We Want From the Next President?” where it called on presidential candidates Abdel Fatah al-Sisi and Hamdeen Sabbahi to adopt measures for improving the conditions of the health sector and doctors.

Editor’s pick:

Egypt is experiencing water shortages, as average water resources per capita have dropped to 663 cubic meters, and are expected to plummet to 582 cubic meters by 2025, according to a Wednesday statement by the Central Agency for Public Mobilization and Statistics (CAPMAS).

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