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Saturday, 6 July 2013

Islam, democracy and soldiers: #Egypt’s tragedy | The Economist

Patriotic Egyptians Donate to National Fund | @REBELECONOMY #EgyptFund

"For Egypt’s Central Bank, financial donors are always welcome.
Whether it’s Qatar, Saudi Arabia or even controversial international lenders like the International Monetary Fund, if the donation looks and feels like US dollars, Egypt is happy to receive it. Especially at a time when the country is desperate to fund dollar-denominated fuel and wheat imports, but limited foreign currency reserves make it too expensive.
So last night on Egypt’s CBC channel, when TV host Khairy Ramadan called on all Egyptians – the business community, celebrities, Egyptian expatriates and ordinary citizens – to donate to a national fund to help Egypt out of its economic malaise, many Egyptians were happy to take part."

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What’s not to like about the Gulf economy? |

"Economics is sometimes referred to as the dismal science, although the reason is apocryphal and vague rather than (as you might imagine it would be) that its workings are dismally unscientific.
You will find on the one hand that the subject is dominated by statisticians, who are either measuring something that’s not very interesting or meaningful, or prognosticating about what will happen to key indicators or business activity or the markets, on the basis of a spreadsheet model.
You will equally, on the other hand, find that in the real world, humanity adjusts its behaviour, according to the evolution of events and rapid spread and digestion of information, so defying reliable predictability and inviting unintended consequences from policy actions based on interpretations of the past."

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Egypt faces huge funding shortfall - The National

"As the cheers on the street fade from the removal of president Mohammed Morsi, Egypt's interim government will face the sobering task of securing almost US$20 billion in funds to help avoid a fiscal meltdown.

The newly appointed leader Adly Al Mansour will have to prioritise rebalancing public finances, alongside other pressing duties of forming a transitional government and setting a timetable for elections, say economists.

Little anxiety about the severity of such challenges was reflected in buoyant Egyptian markets yesterday on a day Mr Mansour, the top judge of Egypt's Constitutional Court, was sworn into power."

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EXCLUSIVE Jet-Etihad deal: Handing over benefits to Abu Dhabi on a platter - Moneylife

"There are 25,000 seats per week vacated by the defunct Kingfisher. The additional weekly seat entitlement of 40,000 by India would only help Etihad whose sole aim is to establish Abu Dhabi as a hub at the cost of Indian airports
The deal between India's Jet Airways and Abu Dhabi-based Etihad Airways has several angles. However, one point that stands out is how the deal was ‘facilitated’ to provide benefit to both the private parties at the cost of India. Especially, signing of the bilateral for enhancing weekly seat entitlement to 40,000 seats between India and Abu Dhabi is turning out to be more beneficial to Etihad than anyone else."

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