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Wednesday, 29 November 2017

CBE scrapping deposit and withdrawal limits for companies tops Egypt’s int’l coverage, followed by Friday’s terror attack

Topping coverage of Egypt in the international press this morning is news that thecentral bank has lifted caps on USD withdrawals and deposits for importers of non-essential commodities, which we have full details on in the Speed Round, above. The Financial Times (paywall) notes that the move comes “a year after Egypt floated its currency against the dollar in order to clinch a loan deal with the IMF.”

The terrorist attack that claimed 300 lives last Friday was still making the rounds as well this morning, with both Newsweek and The Huffington Post suggesting that the attack indicates that the Egyptian government has lost the battle against terrorism in the northern parts of Sinai, and with it control over the area.

Meanwhile, HA Hellyer writes for The Guardian that “to find the extremism behind the Egypt terror attack, start with anti-Sufi preachers,” arguing that there is a general tendency among Muslim preachers to speak against Sufism. Vox tackles the Sufi angle in a piece titled “The terrorist attack against Sufi Muslims in Egypt, explained.”

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