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October 2004 

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 Current
Editor's Note
An Enwrapped Audience
by Jeson Ingraham
Editor's Note
An Enwrapped Audience
by Jeson Ingraham
News in brief
Diesel Price Hike Fuels Anger
A drop in customs rates on mid-range vehicles was a cause for celebration among car buyers. Public transport commuters reacted equally and oppositely to an increase in the price of diesel, which drove up commuting costs.
News in brief  
Business Confidence Barometer
Index reflects giant leap in confidence
News in brief
Diesel Price Hike Fuels Anger
by News & Trends
Zoom In
Egypt Wants a Bigger Pedestal at UN
News Focus
Freeing Taxpayers
by Hadia Mostafa
The ruling NDP cut personal income and corporate taxes in half, but the emergency law is here to stay
News Focus
High Times
Bankers expect higher interest rates to heat up the investment climate and cool inflation
News Focus
Mastering Law
by Hadia Mostafa
A new law program at the American University in Cairo seeks to get students serious about law
News Focus
Until the Cows Come Home
by Rania Oteify
Consumers are still waiting for Sudanese beef to hit the market
News Focus
AloAchoo!
by Vivian Salama
The next generation of viruses has hit mobile phones
News Focus
Star Power
by Vivian Salama
The 2004 Olympics created some unlikely national icons and a powerful lineup of marketing potential
News Focus
Below Par
by Amr Gamal
The World Bank says Egypt is handicapped by the high costs to start a business and the difficulty of firing people, to name a few
News Focus
Corporate Bonding
by Hadia Mostafa
Orascom Telecom and Telecom Egypt have made a splash in the bond market, but rising interest rates may damper enthusiasm
News Focus
Unmaking Monopolies
by Summer Said
Opposition MPs say changes to a proposed anti-trust law defy the purpose of the law by protecting monopolies
News Focus
On Topic
by Vivian Salama
The Euromoney conference put an exclamation point on the liberalization efforts of the government
News Focus
Investment Matchmakers
by Frederik Richter
Egypt Invest 2004 seeks to convince foreign investors that the country has finally turned a corner
News Focus
’Dish’ing it Out
by Réhab El-Bakry
Satellite TV stations are set to give the state-run channels a run for their advertising revenues during Ramadan
News Focus
Cargo Crunch
by Réhab El-Bakry
As exporters complain about skyrocketing airfreight prices, the government seems to be turning an unsympathetic ear
News Focus
Star Power
The 2004 Olympics created some unlikely national icons and a powerful lineup of marketing potential
Inside Track
Vote Now, or Repent
by Mirette F. Mabrouk
Whether you’re voting or not, next month’s US elections are a source of hope and fear
Speak Out
What Would Milton Friedman Do?
by Tarek Osman
Clever solutions are needed to bring more money into our universities
Speak Out
What Would Milton Friedman Do?
by Tarek Osman
Clever solutions are needed to bring more money into our universities
Speak Out
What Would Milton Friedman Do?
by Tarek Osman
Clever solutions are needed to bring more money into our universities
Face of Business
Rising Above the Competition
by Joseph Krauss
At the helm of Cairo’s newest Four Seasons, Olivier Masson wants to restore the local tourism industry’s dignity
Finance & Markets

A string of actions by the new government whipped up activity on the market to record highs
Cover Story
Customs Unraveled
by Joseph Krauss
Almost everyone has welcomed new government reforms that slash tariff rates, simplify customs procedures and prepare the country for wider integration into the global economy. While on paper the reforms will cost the government LE 3 billion, analysts predict the new rates could actually be a boon to the government by unbinding business.
Cover Story
Looming Concerns
by Joseph Krauss
If the textile sector is any indication, the new government will have to prove its customs reforms look as good in practice as they do on paper
Cover Story
CUSTOMS UNRAVELED
by Joseph Krauss
Almost everyone has welcomed new government reforms that slash tariff rates, simplify customs procedures and prepare the country for wider integration into the global economy. While on paper the reforms will cost the government LE 3 billion, analysts predict the new rates could actually be a boon to the government by unbinding business.
Country Profile
Seeking Balance
by Summer Said
Trade relations that were once heavily in Britain’s favor are falling back into balance. Confidence in Egypt’s new policy-makers is likely to put both countrieson an even more equal footing, but there’s still a lot of work to do.
Country Profile
The Right Track
by Summer Said
Great Britain’s ambassador is hopeful about the prospects of the Egyptian economy and his country’s place in it
The Good Life  
Pleading Guilty
by Khaled El Shalakany
Under the current court system, lawyers may have as many reasons to complain as the criminals
The Good Life
Stage Hungry
by Joseph Krauss
It’s time to bring to life your dreams as a lead singer in Egypt’s karaoke joints
The Good Life  
Tapped Out
by Saleh M. Ibrahim
The population boom is consuming more than space. An adequate water supply is also at risk.
The Good Life
Enron’s End
by Sami Sultan
An inside view into the collapse of a giant company is a fairy tale turned sour
The Good Life  
Adding It Up
by Dr. Mansour El-Ganady
Tossing out any old idea to the public is a good way to wreck an advertising budget. Doing your homework and testing an idea will help you make the most of your money.
The Good Life
Book Worms
by Amr Gamal
The once difficult task of finding a good book in Egypt is getting a bit easier
The Good Life
Salsa Nights
by Vivian Salama
It’s hard to call it a craze. As more people join in the fun, salsa looks to be around in Egypt for a long time coming.
The Good Life
Salsa Nights
by Vivian Salama
It’s hard to call it a craze. As more people join in the fun, salsa looks to be around in Egypt for a long time coming.
Close Up
Rethinking Higher Education
by Frederik Richter
Notorious for producing graduates ill-equipped for the job market, universities are coming under greater scrutiny. The government will need to reach deep in the tool box to fix education. Is the free ride under threat
Close Up
Growing Pains
by Frederik Richter
Bickering aside, complaints surfacing at the German University in Cairo reveal some of the difficulties of importing foreign standards of education
Close Up
RethinkingHigher Education
by Frederik Richter
Notorious for producing graduates ill-equipped for the job market, universities are coming under greater scrutiny. The government will need to reach deep in the tool box to fix education. Is the free ride under threat?
Sector Survey
Next in Line
by Réhab El-Bakry
The new head of the Ministry of Communication and Information Technology, Tarek Kamel, is sure to have the ear of Prime Minister Ahmed Nazif, his predecessor. Expect more good times for the telecom sector.
Sector Survey
Finding Room to Grow
by Réhab El-Bakry
Telecoms continue to flex their muscles on the stock exchange. Is there any end in sight?
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