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Egypt in the international media
Bishoy Ramzy Published in Albawaba on 21 - 07 - 2016


Bloomberg
Egypt Pound Hits Record Low as Bets Mount For Second Devaluation
The Egyptian pound extended losses in black market trading on speculation that policy makers will weaken the official exchange rate to end the country's shortage of foreign currency.
The pound slumped to 11.75 a dollar, according to the average quote of four money changers in Cairo surveyed by Bloomberg on Tuesday. That compares with 11.54 a week earlier and represents a 32 percent premium to buy dollars over the official exchange rate, the widest gap since Bloomberg started tracking the data in 2013.
Washington Times
Egypt's court annuls Ahmed Mortada Mansour's membership in parliament
A Giza court of cassation annulled MP Ahmed Mortada Mansour's membership in Egypt's House of Representatives on Wednesday and ruled that independent candidate Amr El-Shobaki is the legitimate MP for the Dokki and Agouza constituency.
According to El-Shobaki's lawyer Essam El-Islamboly, the court decided to overrule the declared results, allowing El-Shobaki to take Mansour's seat in the house.

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