7pm News Wrapup Aug. 9
By THE CAIRO POST

News:

Egypt continued to evacuate its nationals from Libya due to increased militia violence there and a ship with 250 Egyptian passengers onboard departed the Tunisian Port of Zarzis Friday for a 4-day trip to Alexandria in Egypt.

Egyptian hospitals are on alert for Ebola, and the Health Ministry has instructed all preventive and endemic disease departments to step up preventive measures after the World Health Organization (WHO) declared the disease’s West African outbreak an international public health emergency.

EgyptAir cancelled flight 653 to Irbil in northern Iraq a few hours before takeoff Saturday due to the deteriorating security conditions there.

The Open Education Center (OPC) of Cairo University announced it will open a branch in Turkey to serve Iraqi and Syrian refugees.

The Tourism Ministry announced a reduction in the number of Tourism Promotion Authority (TPA) offices abroad in order to save costs.

Fifteen new roads will be built by the end of the year as part of a national project planned by President Abdel Fatah al-Sisi, said Abdel Aziz Abdu, a spokesman for the General Authority for Roads and Bridges, in comments to The Cairo Post Saturday.

Politics:

A group of government-opposition minded Egyptian expats in Turkey, including public figures, declared in a press conference Friday the founding of a new council: the “Egyptian Revolutionary Council” against the “July 3 military coup.”

Hurghada security forces burnt 36 books that were found at a public library, as their content allegedly promoted “Muslim Brotherhood thoughts.”

The Egyptian Foreign Affairs Ministry condemned the “terrorist attack” by Boko Haram in a northeastern Nigerian town and emphasized the need for concerted regional and international efforts to counter “terrorism and extremism.”

Ahead of the tripartite negotiations set from Aug. 26-27 in Khartoum regarding the Grand Ethiopian Renaissance Dam between Ethiopia, Egypt and Sudan, the National Council for the Coordination of Construction of the Renaissance Dam announced Friday that by June, 35.8 percent of Renaissance Dam construction had been finished.

The Committee to Protect Journalists (CPJ) urged the release of at least five kidnapped journalists and media workers in Libya affiliated with Albarqa private channel.

Business:

The Egyptian Exchange (EGX) surged this week, amid investors’ bullish sentiment driven by the launch of two mega projects in the Suez Canal zone by President Abdel Fatah al-Sisi. During the course of the week, the benchmark index EGX30 jumped 3.7 percent to end the week at 9,152 points, the highest level since August.

More than 20 companies operating in the agriculture investment field will participate in reclaiming 4 million acres in the western desert in Egypt in cooperation with companies from the UAE.

In-depth:

A number of pro-Muslim Brotherhood demonstrations erupted Friday in Cairo and across other governorates, and clashes killed a soldier in Beheira.

Editor’s pick:

Sisi’s bitter pill for the economy: “unpopular decisions carried out by a popular man.”

  • Energy subsidies were cut by 10 percent
  • The price hikes are hitting the Egyptian population
  • Economists expect inflation rates to go higher as the cost of manufacturing, building materials and food products will increase along with higher fuel costs.
  • The government should launch a number of mega projects, such as the recently launched enterprises around the Suez Canal to offer job opportunities for the youth.
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