This Week in Egypt: Week 3-2023 ( Jan 16-22)

Top Headlines

  • Egypt vows to cut military’s outsized role in economy under IMF bailout
  • Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation, Fitch Ratings says
  • Businessman Safwan Thabet, who faced accusations of funding “terrorist entities”, was released from prison 
  • UAE hosted Gulf leaders including Qatar’s along with Egypt and Jordan
  • Leaders of Egypt, Jordan and the Palestinians deliver a warning to Israel
  • Egypt’s Sisi instructs building large inclusive mosques across Egypt to spread ‘true religion’

Safwan Thabet, right, is the founder of Juhayna Food Industries. His son Seif el-Din Thabet, left, is the company’s chief executive © Image supplied by friends of the family via FT

My weekly Egypt’s podcast

Main Headlines


  • Foreign investors pour $925 million into Egypt since last week’s devaluation 
  • Leaders of Egypt, Jordan and the Palestinians deliver a warning to Israel





  • Emerging-market investors are preparing to creep back into Egypt’s local debt market, enticed by a cheaper pound and record yields when compared with peers
  • Egyptian lawyers strike to protest the imprisonment of six colleagues
  • Egypt court reduces sentences against businessman, former MP for antiquity trafficking


  • Founder of Egypt’s Juhayna Food Industries and his son, who faced accusations of financing terrorist entities , are released from prison
  • Egypt’s Sisi instructs building large inclusive mosques across Egypt to spread ‘true religion’


Reports/ Read

From Twitter

Nervana Mahmoud 

About nervana111

Doctor, blogger and Commentator on Middle East issues. The only practising doctor who write in Middle Eastern politics in UK.
This entry was posted in Diary of Aak, Egypt and tagged , , , , , . Bookmark the permalink.

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