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Égypt-actus
Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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Qatar biggest supporter of Egypt after revolution

Qatar biggest supporter of Egypt after revolution | Égypt-actus | Scoop.it

Egypt's Minister of Manpower and Migration Khaled al-Azhari stressed that HH the Emir Sheikh Hamad bin Khalifa Al Thani and the Qatari government are the biggest supporter of Egypt after the January 25th revolution, pointing to the Qatari economic support for Egypt which consolidates the close relations between the two brotherly countries.

 In an exclusive interview with the Qatari daily (Al Watan) issued Wednesday, Al-Azhari said that in the coming period the Qatari market will witness Egyptian employment increase due to the increased demand for labor in all professions to begin the implementation of mega projects in preparation for the 2022 Fifa World Cup. The Egyptian Minister also indicated that Egyptian-Qatari relations have taken a new distinct turn after the revolution and said "it is enough that HH the Emir of Qatar was the first Arab leader to visit Egypt after the revolution and expressed great interest in enhancing the Egyptian economy," noting to the $2 billion deposit from Qatar which then was doubled to $5 billion besides the injection of $18 billion worth of investments into Egypt over the coming five years which has had a positive impact on the economic situation in Egypt and in turn will help to create more jobs. Meanwhile, al-Azhari denied that the distinct relationship between the Egyptian government and Qatar are the only reason behind this assistance, saying, "This is not true .. because Qataris are proud of Egypt, so they are helping its people."  More on: http://thepeninsulaqatar.com/latest-news/226387-qatar-biggest-supporter-of-egypt-after-revolution.html
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Rising Power Qatar Stirs Unease Among Some Mideast Neighbors

Rising Power Qatar Stirs Unease Among Some Mideast Neighbors | Égypt-actus | Scoop.it

In the center of Cairo, young men hold up a burning flag for the cameras to show their fury at a nation they believe is meddling in their country and the wider Middle East.

 

In the center of Cairo, young men hold up a burning flag for the cameras to show their fury at a nation they believe is meddling in their country and the wider Middle East.

It's a familiar image. But it's not the U.S. flag they are waving, it is that of Qatar, the Gulf state that has used its billions to spread its influence in the wake of the Arab Spring.

For most Western governments and officials, the influence of Qatar emir Sheikh Hamad bin Khalifa al-Thani's government is seen as broadly positive.

Qatar's neighbors are uneasy, however.

 

In Egypt, Libya and Syria, where Qatar tried to play a role post-Arab Spring, it finds itself blamed for much that has gone wrong on a local level. Close ties to Egypt's new leaders, the Muslim Brotherhood, have alarmed countries like the United Arab Emirates, where the Islamist group is still banned and which in January said it had foiled a Brotherhood-linked coup plot.

Senior officials in the UAE have long believed Qatar has long-term strategy to use the Brotherhood to redraw the region. (...)

 

"While prior to the revolutions, Qatar was seen more as a mediator, its foreign policy recently has been much more proactive and in some cases partisan." (...)

MUSLIM BROTHERHOOD?

The emirate has long been a country of sometimes baffling contradictions. While in many ways one of the most conservative of the Gulf states, it has also proved the most enthusiastic about the changes wrought by the Arab Spring.

Of the 1.9 million people who live there, only some 250,000 are ethnic Qataris, most of whom practice Wahhabism, the austere form of Islam also practiced in Saudi Arabia.(...)

 

The emirate has clearly emerged as something of a focal point for the group, originally founded in Egypt in 1928 and now with national chapters across much of the Islamic world. (...)

 

ARMS, AL JAZEERA
Senior Brotherhood officials deny any regional conspiracy; national chapters in different countries say they share ideology but have no direct links.(...)

 

As President Mohammed Mursi's government in Egypt has struggled with mounting economic woes, Qatar has stepped up as an increasingly vital financial backer. In Syria, it has been a leading supplier of rebel arms.

But already, Qatar is feeling the heat for its actions. In Libya, Qatar is being blamed for an increasingly destabilizing rise in Islamist intolerance and violence. In Egypt, it finds itself caught up in the popular dissatisfaction with Mursi and accusations of economic imperialism: a multibillion dollar Suez Canal investment deal was described by protesters as a foreign attempt to seize control of vital national assets. (...)

 

Indeed, Qatar's problems with its neighbors may be only just beginning.

"People asking questions are met with walls of silence," said the Doha-based analyst. "That doesn't wash very well with an Egyptian who has just been shot in the leg in Tahrir Square."






 

More on: http://www.60news.com/news-rising-power-qatar-stirs-unease-among-some-mideast-185715/





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Egypt approves Qatari bid for SocGen

Egypt approves Qatari bid for SocGen | Égypt-actus | Scoop.it

Egypt's central bank has approved a request by Qatar National Bank (QNB) to acquire a majority stake in National Societe Generale Bank - Egypt (NSGB).

In a press statement reported on Thursday by state-run news agency MENA, QNB said it had begun legal measures with the Egyptian government to obtain Societe Generale's Egypt unit and expected to make a full acquisition within two months.

QNB presented its offer to acquire NSGB to Egypt's central bank on 19 December 2012.

The leading Qatari bank will pay almost $2 billion its stake.

News of the central bank's approval propelled NSGB's shares, with analysts expecting it to be Thursday's

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Qatari PM says will stand by Egypt

Qatari PM says will stand by Egypt | Égypt-actus | Scoop.it

(Reuters) - Qatar's prime minister said on Tuesday his country would stand by Egypt and did not want to see it go bankrupt, a week after the Gulf state said it would lend Cairo an additional $2 billion and grant it an extra $500 million outright.

Egypt-actus's insight:

Asked whether his country would increase aid to Egypt, Sheikh Hamad bin Jassim al-Thani said: "Qatar will stand by Egypt and the Egyptian people's needs. We don't want to see the biggest country in the Arab world bankrupt. I don't think this is wise. I think it is in the interest of the World Bank and the international community not to see Egypt brought down."

(Reporting by Regan Doherty; Writing by Mahmoud Habboush; Editing by Alison Williams)

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Egyptian pound hits new record low despite Qatar aid

Egyptian pound hits new record low despite Qatar aid | Égypt-actus | Scoop.it
Egypt-actus's insight:

By Patrick Werr

(Reuters, via Aswat Masriya) - The Egyptian pound slid to a new record low on Wednesday, only a day after Qatar threw Cairo an economic lifeline by sending $2.5 billion in aid to help it tackle a currency crisis.

Demand for dollars remained strong as businesses and ordinary Egyptians continued selling the local currency, fearing their funds would lose even more value after weeks of political strife and pressure on Egypt's foreign reserves, bankers said.

Economists say the Qatari money might help the central bank, which has been auctioning dollars daily since the end of last year, to prevent a disorderly fall in the currency.

They say the pound remains overvalued after two years of turmoil that has chased away foreign investors and tourists, so the authorities cannot halt the slide as they struggle to meet demand for dollars, including for imports of food and fuel.

"Qatari support does help alleviate immediate concerns, but is only a stopgap measure, particularly if the central bank keeps auctioning $50-75 million in almost daily auctions, while also providing foreign exchange for wheat and refined oil imports," said Raza Agha, an economist with VTB Capital.

The pound weakened half a percent on the interbank market to around 6.51 to the dollar, near the bottom of the central bank's permitted trading band. Banks grabbed almost all the $50 million dollars on offer at Wednesday's auction.

The central bank has allowed the pound to slide by about 0.5 percent a day against the dollar since it introduced a new currency regime on Dec. 30, saying Egypt's foreign reserves had fallen to a critical minimum.

Until the new regime was imposed, the currency had lost a relatively modest 6 percent in the two years since Egypt's revolution that overthrew president Hosni Mubarak. But in last past 11 days the fall has accelerated rapidly, with the pound losing 5 percent on the interbank market.

Qatari Prime Minister Sheikh Hamad announced the aid, comprising $2 billion in loans and $500 million in outright funding, after meeting President Mohamed Mursi. It comes on top of $2.5 billion that the wealthy Gulf state had already provided since the Arab Spring uprising.

 

More : http://en.aswatmasriya.com/news/view.aspx?id=bfc2a4de-90a0-4d27-96e5-7a25dd640d4c

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Qatar says boosting aid to Egypt by extra $2.5 bln

Qatar says boosting aid to Egypt by extra $2.5 bln | Égypt-actus | Scoop.it
Egypt-actus's insight:

(Reuters, via Aswat Masriya) - Qatar said on Tuesday it would lend Egypt's government an additional $2 billion and grant it an extra $500 million outright, extending a lifeline as the government battles to contain a currency crisis.

Political strife has triggered a rush to convert Egyptian pounds to dollars over the past several weeks, sending the currency to a record low against the dollar.

"There was an initial package of $2.5 billion, of which $0.5 billion was a grant and $2 billion a deposit," Sheikh Hamad bin Jassim al-Thani told reporters after meeting Egyptian President Mohamed Mursi.

"We discussed transferring one of the deposits into an additional grant so that the grants became $1 billion and the deposits double to around $4 billion," he said.

 

---------------------------

 

"Le Qatar à la rescousse financière de l'Egypte" (Reuters)

Le Qatar a annoncé mardi avoir avancé 2,5 milliards de dollars (1,9 milliard d'euros) à l'Egypte pour l'aider à faire face à sa crise monétaire, alors que les discussions entre Le Caire et le FMI devraient reprendre dans deux à trois semaines.

http://fr.reuters.com/article/frEuroRpt/idFRL5E9C8ACY20130108

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Le Caire : le drapeau qatari incendié !

Le Caire : le drapeau qatari incendié ! | Égypt-actus | Scoop.it

selon Al Alam, citant Middle East on line, ce sont désormais les drapeaux non des Etats Unis ou Israël mais du Qatar que les Egyptiens incendient dans les rues du Caire. Devant les caméras du monde entier, "les jeunes égyptiens ont mis le feu aux drapeaux du Qatar , un pays qu'ils accusent d'ingérence dans les affaires intérieures de l'Egypte mais aussi dans les autres pays de la région.

 

Alors que les pays occidentaux se félicitent des ingérences de Doha, le cheikh Al Thani est de plus en plus hai dans la région pour ses immixtions diaboliques dans les pays de la région ; en Libye, en Syrie, en Egypte....les liens du Qatar avec les Frères musulmans d'Egypte suscitent l'inquiétude des pays comme les Emirats arabes unis qui vient de faire face à un complot salafiste et à un projet de coup d'état concocté par le Qatar  et cette inquiétude est celle partagée par de nombreux pays de la région qui voit en Qatar , le cheval de Troie de l'Occident et de ses projets expansionistes dans la région!

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Canadian-Qatari business cooperation in Egypt

Canadian-Qatari business cooperation in Egypt | Égypt-actus | Scoop.it

The Canadian Chamber of Commerce in Cairo (CanCham) has signed a cooperation agreement with Qatari Chamber of Commerce to promote and develop Qatari investments in Egypt and its exports to Canada.

The agreement also intends to strengthen the economic relations between the three countries and to facilitate communication to official authorities in order to create a cooperative atmosphere and to overcome obstacles.

According to the agreement, this will be accomplished by exchanging economic and commercial information and by granting access to economic laws, regulations and new amendments through bulletins.

According to the agreement, this will be accomplished by exchanging economic and commercial information and by granting access to economic laws, regulations and new amendments through bulletins.

 

More on: http://www.dailynewsegypt.com/2013/02/09/canadian-qatari-business-cooperation-in-egypt/

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Qatar to Invest in Suez Canal

Qatar to Invest in Suez Canal | Égypt-actus | Scoop.it

Qatar disappeared from the political scene in Egypt for a few hours only to reappear, this time with its best face on: the economic one.


Egypt-actus's insight:

Qatari Finance Minister Yousef Hussain Kamal was received as a guest in Cairo in a previously announced visit. He met with his Egyptian counterpart, Mursi Hijazi, who took office a few days ago. He also met with Prime Minister Hisham Kandil, and held a short press conference in which he announced Qatar’s intention to purchase Egyptian bonds and bills worth $2.5 billion.

Egypt has not yet officially offered these bonds,  nor has it revealed their value.

The Qatari minister announced his country's intention to invest in the region east of Port Said that is adjacent to the Suez Canal, a very sensitive issue considering the port’s strategic location.

The Qatari finance minister revealed for the first time that the $2.5 billion with which Doha will buy the Egyptian bonds and bills will be deducted from the $4 billion handed over last year as a deposit by Qatar to the Central Bank of Egypt in two payments.

This astonished many banking experts because the Qatari deposit is long term and can only be returned in seven to ten years. So how could Qatar possibly recover part of it now?

This question was raised by banking expert Salwa al-Antari, former director of the research department at the central bank. She told As-Safir that “offering bonds and treasury assets was an approach adopted by Egypt under the Supreme Council of the Armed Forces in an attempt to obtain money to pump into the general budget. But the question is, how did Qatar know that Egypt would offer bonds worth up to $2.5 billion or more?”

Antari said that the deposits granted by Qatar to Egypt do not have any economic benefit other than the fact that they have solved some of the government’s temporary needs. She added that these deposits did not develop into real investment projects, which reflects the approach of the incumbent Kandil government based on borrowing and lacking a real economic strategy.



Read more: http://www.al-monitor.com/pulse/business/2013/01/qatar-plans-to-invest-in-suez-canal.html?utm_source=dlvr.it&utm_medium=twitter#ixzz2IaYfm6QV


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Un choix cornélien, par Nabil El Choubachy

Un choix cornélien, par Nabil El Choubachy | Égypt-actus | Scoop.it
Egypt-actus's insight:

Le 8 janvier, le Premier ministre du Qatar a annoncé doubler son aide à l'Egypte, en la portant à 5 milliards de dollars dont 4 milliards de prêts, et 1 milliard de dons. Cette bouée de sauvetage arrive à point nommé pour le gouvernement égyptien qui continue ses négociations avec le Fonds monétaire international pour l'octroi d'un crédit de 4,8 milliards de dollars. Il faut dire que contrairement à ce qu'affirme Mohamed Morsi, dont l'optimisme semble inébranlable, tous les indicateurs économiques sont au rouge: dégringolade spectaculaire de la livre égyptienne, inflation des produits de large consommation, chômage en hausse, croissance quasi inexistante et surtout épuisement des réserves de change qui sont passées de 36 à 15 milliards de dollars en deux ans. Cet argent du Qatar va permettre à Mohamed Morsi de gagner du temps. Car les conditions du FMI pour l'obtention du prêt risquent d'être lourdes de conséquences pour le gouvernement égyptien. Le FMI exige en effet la mise en place d'un certain nombre de politiques et de mesures que les gouvernements débiteurs doivent respecter afin de pouvoir obtenir leur prêt. L'institution a ainsi demandé à l'Égypte de ramener en 2014 à 8 % du PIB un déficit qui avoisine actuellement les 11 %. Pour y arriver, Le Caire devrait augmenter la taxe sur certains produits dont certains de première nécessité et réduire les subventions dans certains secteurs. Des mesures qui peuvent avoir des conséquences politiques désastreuses pour les Frères musulmans à quelques mois d'élections législatives cruciales pour la confrérie. Ce sont d'ailleurs ces conditions du FMI qui avaient poussé Mohamed Morsi à ajourner les négociations avec le Fonds, de peur d'une très probable colère de la rue qui aurait poussé les Egyptiens à voter «non» au référendum sur la Constitution. Aujourd'hui, alors que de plus en plus d'Egyptiens sont persuadés que la "Nahda" (Renaissance) promise par les Frères musulmans n'était qu'un mensonge pré-électoral et que le gouvernement n'a pas de vision, pas de plans, pas de projet pour ce pays, Mohamed Morsi se trouve coincé entre l'accord avec le FMI qui l'obligera à prendre des décisions impopulaires au risque de perdre les prochaines élections, et le refus du prêt au risque de voir le pays sombrer encore plus dans le marasme économique. A moins que le Qatar ne sorte encore son chéquier pour sauver les Frères musulmans….

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Le Qatar à la rescousse financière de l’Egypte

Euronews (vidéo)

Le riche émirat a avancé 1,9 milliard d’euros au Caire pour l’aider à faire face à sa crise monétaire, alors que les discussions entre Le Caire et le FMI devraient reprendre dans deux à trois semaines. Le Qatar a également donné 500 millions à l’Egypte.

La livre égyptienne est en chute libre face au billet vert sur fond d’instabilité politique.

L’Egypte négocie avec le Fonds monétaire international un prêt de 3,6 milliards d’euros pour éponger ses déficits. Mais le président islamiste Morsi a reporté une série de hausses d’impôt, afin de se donner le temps d’expliquer son plan d’austérité.

L’Egypte est un enjeu stratégique en tant que pays le plus peuplé du monde arabe depuis le renversement d’Hosni Moubarak en février 2011.

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