Italy to invest $1billion in Egypt
Ahram Online | September 15, 2012
Egyptian President Mohamed Morsi’s visit to Italy has borne fruit, with Rome agreeing to invest a total of 800 million euros ($1.04 billion) in Egypt, the state-owned Al-Ahram newspaper reported on Saturday.
The report gave few details of how the sum will be invested.
Morsi met with his Italian counterpart Giorgio Napolitano on Friday and made a joint declaration to boost bilateral relations and promote economic cooperation and trade between the two countries.
The Egyptian president also met on Thursday with leading Italian businessmen including Giorgio Squinzi, the president of business association Confindustria, as well as chief executives from ENI, ENEL and FS railways, according to local news agency ANSA.
In May, the Egyptian government signed an agreement with Italy to swap a third tranche of the North African country’s debts worth $100 million for Italian investments in Egypt.
Morsi has been on the hunt for foreign investment over the last few weeks.
During a presidential visit to China in late August, Asia’s largest economy agreed to give Egypt 450 million yuan (LE430 million) to finance infrastructure, electricity and environment projects, as well as donating 300 police cars.
The chairman of Egypt’s National Bank, Tareq Amer, and his Chinese counterpart also signed a deal for a $200 million concessional loan to support small and medium size projects in Egypt.
Related articles
- Qatar to invest $18bn in Egypt over next 5 years (alethonews.wordpress.com)
- Egyptian president heads to China for investment talks (alethonews.wordpress.com)
- Morsi: ‘New’ Egypt is open for business (morningstaronline.co.uk)
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The Real Story of How Israel Was Created [Stolen]
By ALISON WEIR | October 11, 2011
To better understand the Palestinian bid for membership in the United Nations, it is important to understand the original 1947 UN action on Israel-Palestine.
The common representation of Israel’s birth is that the UN created Israel, that the world was in favor of this move, and that the US governmental establishment supported it. All these assumptions are demonstrably incorrect.
In reality, while the UN General Assembly recommended the creation of a Jewish state in part of Palestine, that recommendation was non-binding and never implemented by the Security Council.
Second, the General Assembly passed that recommendation only after Israel proponents threatened and bribed numerous countries in order to gain a required two-thirds of votes.
Third, the US administration supported the recommendation out of domestic electoral considerations, and took this position over the strenuous objections of the State Department, the CIA, and the Pentagon.
The passage of the General Assembly recommendation sparked increased violence in the region. Over the following months the armed wing of the pro-Israel movement, which had long been preparing for war, perpetrated a series of massacres and expulsions throughout Palestine, implementing a plan to clear the way for a majority-Jewish state.
It was this armed aggression, and the ethnic cleansing of at least three-quarters of a million indigenous Palestinians, that created the Jewish state on land that had been 95 per cent non-Jewish prior to Zionist immigration and that even after years of immigration remained 70 per cent non-Jewish. And despite the shallow patina of legality its partisans extracted from the General Assembly, Israel was born over the opposition of American experts and of governments around the world, who opposed it on both pragmatic and moral grounds.
Let us look at the specifics. … continue
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