Egypt's ongoing political crisis costing country at least $310 million per dayFebruary 4, 2011 - 19:37 AMT PanARMENIAN.Net - Credit Agricole says Egypt's ongoing political crisis is costing the country at least $310 million per day. In a report released on February 4, the investment bank said it was revising down its forecast for Egypt's economic growth to 3.7 percent from 5.3 percent in 2011. Egypt's economy has been battered by the more than week-old protests in which tens of thousands are demanding President Hosni Mubarak's ouster. Banks and the stock exchange have been closed all week, while most factories have been shuttered. Tens of thousands of tourists have fled the country because of the violence, dealing a hard blow to the vital tourism sector. The unrest has led to price spikes of food in some areas of Cairo, further straining Egyptians who had complained about rising costs, cnbc.com reported. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |