A rare terrorist attack in mainland Egypt is dominating coverage in the foreign press this morning: The attack on a security checkpoint in Ismailia on Friday is believed to have left four people dead, including three policemen, according to local press reports. Authorities have not yet provided an official statement on the attack or its death toll. Daesh has claimed responsibility for the attack. (Reuters | AFP | AP | The National)

Also making headlines:

• The Financial Times is the latest to examine the impact of the FX crunch: A shift to a fully flexible exchange rate cannot “happen overnight,” EFG Hermes’ head of macro analysis, Mohamed Abu Basha, tells the salmon-colored paper. Authorities need to “ideally first build up a buffer of foreign currency to help clear the backlog of demand” before floating the currency, he is quoted as saying.
• UAE releases Egypt critic: A US-Egyptian dual national arrested in the UAE and facing extradition to Egypt after criticizing its government has been released and has returned to the US. (Wall Street Journal)
• The world’s largest floating library docks at Port Said port this week: The MV Logos Hope floating library will open to visitors at the port for 20 days starting 4 January, while its 350 passengers will disembark to see the country’s sights. (Arab News)