Egypt’s foreign currency reserves took a major hit in January falling 10%.
Egypt’s central bank said that reserves fell $1.4 billion during the month as political unrest and violent protests start to have a major impact on the government’s ability to collect funds. The dip raises significant concerns about the stability of the Muslim Brotherhood-led government. Continue reading
An Egyptian woman and her seven children were sentenced to 15 years in prison for converting to Christianity from Islam. Continue reading
Islamic militants have attacked the Egyptian security headquarters in the Sinai firing rockets and bullets from a different building. The attack in al-Arish was the flashpoint of daily battles between militants and security forces.
One police officer was killed and three wounded in the clashes. Continue reading
Syrian troops have killed at least 19 people in shelling around Syria’s largest city of Aleppo according to activists. Most the people killed in the government assault were women and children.
One opposition activist reported the death toll from the Aleppo attack is 54.
In a surprising statement against a fellow Islamic leader, Egypt’s new President Mohammed Mursi is calling for Syrian President Bashir al-Assad to step down. Continue reading
President Mohammed Mursi took the opportunity to request a loan for the nation during a visit from the head of the International Monetary Fund.
IMF chief Christine Lagarde promised that the IMF would respond to the request quickly and Egyptian Prime Minister Hisham Qandil told the press he hoped to have the deal finished by the end of the year. Continue reading
Egyptian President Mohammed Mursi’s attempt to reopen the country’s parliament has been rejected by Egypt’s highest court. The court had previously ruled the election of most of the parliament was unconstitutional and required new elections.
Mursi, who claims to have resigned from the Muslim Brotherhood but is still closely affiliated with the group, wants to get the parliament back in service because most of the seats in the tainted election were won by Muslim Brotherhood candidates. Continue reading
Islamists around the world celebrated as the Muslim Brotherhood claimed the Presidency in Egypt.
Mohammed Morsi received 13.2 million votes to 12.3 million for opponent Ahmed Shafiq. The powers of the Presidency are still in question as the ruling military is expected to curtail powers in the new Egyptian constitution.
In his victory speech, Morsi said he would be a president for “all of Egypt” and would not be rushing in impose Islamic Law but that conflicts with statements made to supporters. Five months ago he told a rally in Cairo that the nation’s capital would eventually be “in Jerusalem.” Continue reading
The Muslim Brotherhood, recently removed from power as the result of a Supreme Court ruling that overturned the election that placed them in power, is stating that any return of power to those connected to the previous regime will create “dangerous days.”
The threat comes as the Muslim Brotherhood’s candidate faces off in the Presidential election this weekend with former prime minister Ahmed Shafiq. Shafiq was the last prime minister of the Mubarak regime. Continue reading
Egypt’s Supreme Constitutional Court has ruled the law dictating rules for the parliamentary elections is invalid, meaning that parliament must be dissolved and a new law put in place.
As a result of the decision, the Supreme Council of Armed Forces announced they have full legislative power and will announce a 100-person assembly. The assembly will write the new constitution for the nation. SCAF has been in control of Egypt since the ouster of Hosni Mubarak. Continue reading
Egyptian presidential candidate Ahmed Shafiq has told the BBC that his opponent, Muslim Brotherhood candidate Mohammed Mursi, has been harassing Christians in an attempt to keep them from voting in the country’s upcoming election.
Shafiq also said that the Muslim Brotherhood aims to make Egypt a “sectarian” state despite their public posturing that they would not be seeking to impose Sharia Law on the nation. Continue reading