EBCC News
EGYPT THIS WEEK 31 October 2011
• Prime Minister Sharaf Vows to Allow Expat Votes
Egyptian interim Prime Minister Essam Sharaf on Sunday vowed to allow Egyptians abroad to cast their ballots in the upcoming parliamentary elections, scheduled to start on 28 November.
In recent weeks tension has arisen between government officials and the ruling Supreme Council of the Armed Forces over technical and procedural difficulties facing expatriate voting.
Experts believe that Egyptians abroad, who are estimated at 8 million and whose remittances form one source of the country's national income, should have the right to take part in the polls. This argument is supported by presidential hopefuls.
Last Thursday, the State Council's Administrative Court issued a decree granting Egyptian expats the right to vote in the elections through the offices of Egyptian diplomatic missions.
The Foreign Ministry said it was ready to enforce the verdict. Its spokesperson, Amr Roshdy, said on Thursday that the Ministry does not have the final word on the issue, adding that any decision reached over that matter will be applied through Egypt's embassies and consulates.
• Mubarak Trial Adjourned until December
The trial of Egypt's Hosni Mubarak, Egypt's former president, has been adjourned until December 28 to allow time for a separate court to decide whether to change the judges presiding over his case. The men face a range of charges, including involvement in the killing of protesters during an 18-day uprising against Mubarak's rule in January.
A separate court is to convene on November 3 to decide whether to replace Refaat and others on the judges' panel. Some of the lawyers representing families of those killed in the uprising have demanded changes to the panel, saying it failed to allow them adequate time to question Field Marshal Mohamed Hussein Tantawi, who heads the army council now ruling Egypt.
Leaks of Tantawi's testimony suggested that he sought to absolve Mubarak of any responsibility for the killing of about 850 protesters during the uprising that forced him to step down on February 11. Mubarak is charged with complicity in the killings and if convicted, he could face the death penalty. Tantawi was Mubarak's defence minister for about 20 years, and was widely believed to be blindly loyal to the former leader.
He and about two dozen generals sit on the now-ruling Supreme Council of the Armed Forces (SCAF) who took control of the country from Mubarak when he stepped down, pledging to return to the country to civilian rule after a transition period.
The UK THIS WEEK 31 October 2011
• OECD Dowgrades EU Growth Forecast
Fears of another recession grew today as a leading think tank slashed its growth forecast for the eurozone. The OECD predicted that the single currency area will almost come to a halt next year, with growth of 0.3 per cent.
Such a slowdown would hit Britain's economic prospects. The latest GDP figures for the UK, to be published tomorrow, are expected to be grim. The OECD report came as David Cameron clashed with Ed Miliband over the economy. The Labour leader argued that the UK was facing a "perfect storm" of rising unemployment and inflation, falling living standards and inequality. The Prime Minister warned against politicians talking down Britain's economy.
Ahead of the G20 meeting of leading economies in Cannes at the end of the week, the OECD called for "decisive action" to avoid an economic slump. The think tank said bold action was just as "imperative" as that agreed at the G20 summit in London in 2008 which "avoided a second Great Depression".
It cut its GDP growth prediction for the eurozone next year to 0.3 per cent, compared with two per cent made in May, and reduced its prediction for next year from two per cent to 1.6.
The OECD also warned that some eurozone countries could see contractions of up to five per cent by the first half of 2013 if EU leaders fail to restore confidence and the debt crisis worsens. "A marked slowdown with patches of mild negative growth is likely in the euro area," it said.
The forecast for America's economic growth next year was also cut from 3.1 per cent to 1.8 per cent.
Mr Cameron pledged an "all-out mission" to kick-start infrastructure projects and get the economy moving. He urged world leaders to confront their countries' debts, strengthen competitiveness and unlock global trade. The Prime Minister said he had given the go-ahead for two power plants in the north of England that will create 1,000 construction jobs.
• UK Government Regional Growth Fund
The Government is to invest £950 million to support growth in a move which will create or safeguard more than 200,000 jobs across England, Deputy Prime Minister Nick Clegg announced today.
The second round of the Government's £1.4 billion regional growth fund will support 119 bids from businesses and local partnerships with projects to expand their operations, create new jobs and attract private investment. The projects will directly create around 37,000 jobs, while 164,000 more will be created or protected in the supply chain. The Government investment is expected to support nearly £6 billion of private investment in the successful projects, said the Deputy Prime Minister
The successful bids are subject to legal checks before they can be awarded their final allocation of funding, to allow the Government to establish that companies are able to deliver on the proposals in their bids.
Money is expected to start being passed on to bidders in the spring of 2012. Business Secretary Vince Cable said the state support would deliver "a huge number of jobs", providing "a very significant boost to local communities".
