EconSource: Egypt Hit by Largest Blackout in Years

Follow the latest in economic news and developments about the Arab transition countries. 

A nationwide power cut amid sweltering late summer heat derailed commerce and transport, and disrupted the lives of tens of millions of people throughout Egypt on Thursday. Businesses and residents from the northernmost province of Alexandria all the way south to the city of Aswan suffered hours-long power cuts. [FT, DW]


Buyers sank EGP 6 billion in Suez Canal investment certificates on Thursday, the first day they were made available for sale at the four public banks, according to Central Bank of Egypt (CBE) Governor Hesham Ramez. [Mada Masr, Aswat Masriya]


Yemen is working to eliminate dual employment and phantom jobs in the government in a bid to pave the way for employing more young university graduates. Of the nearly 1.2 million jobs in the government’s civilian and military sectors, around 100,000 are phantom jobs or the product of dual employment, according to state-run newspaper Al-Gomohoriah. [Al-Shorfa]


Tunisia has stabilized from the fallout of the 2011 revolution and is now ripe for investment in its battered economy, according to Prime Minister Mehdi Jomaa. Speaking ahead of the “Invest in Tunisia: Start-up democracy” conference to be held Monday, Jomaa said Tunisia’s new government was upbeat but realistic about a recovery. [AFP]





Also of Interest:

Egypt’s strategy for exports | Marcopolis

Amid turmoil, some Arab stock markets flourish | USA Today

Tunisia: EU gives Tunisia $300 million macro finance assistance | MedAfrica

Water: Tunisia’s other development challenge | World Bank

Moody’s: Volumes of sovereign Sukuk set to increase this year | Arab News