Egypt Azhar university head replaced after 'apostacy' remarks
Cairo - Egypt's parliament on Sunday adopted a law whose aim is to attract foreign investors to the country as authorities seek to redress its struggling economy.
Political instability and jihadist attacks in Egypt have put off tourists and foreign investors since the 2011 uprising that toppled longtime president Hosni Mubarak.
The law, which still has to be approved by the president, seeks to boost foreign direct investment, which totalled $6.8bn in the year to June 2016 compared with $13.2bn before the uprising.
Lawmaker Medhat al-Sherif, a member of the parliamentary commission on economic affairs, said the new legislation provides for tax exemptions of up to 50 percent for investors in the country's poorest regions and other incentives in sectors such as electricity and renewable energy.
It provides for "a service centre for investors", which will be "a one-stop-shop to allow them to deal with one body", Sherif said.
Under the new law, authorities will have a 60-day deadline to provide investors with all requested authorisations, the lawmaker said.
Investment Minister Sahar Nasr said the new service centre aimed to "eliminate bureaucracy", including through services online.
In November, the International Monetary Fund approved a $12bn loan to Egypt, conditional on its adoption of ambitious economic reforms including reducing state subsidies on energy.
Egypt received a first tranche of the loan worth $2.75bn that month, and Finance Minister Amro al-Garhi has said a second tranche of $1.2bn could be delivered next month.
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Despite violence, Eldorado Park unites
Johannesburg - Violent protests in Eldorado Park on Monday morning were out of desperation for proper housing, one resident said.
"We are protesting because we want houses, we have been living in zozos [shacks] for how many years," Deoline Jacobs told News24.
"You get up to 10 people in one shack; how are the people supposed to live? There is a lot of unemployment first of all and then there's a housing issue. When will it end? When does it stop? When will Zuma actually come down and see Eldos [Eldorado Park] people?"
Protests started early on Monday morning as locals barricaded parts of the N12 and Golden Highway with rocks and burning tyres. The N12 had since been reopened.
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Jacobs said they were tired of political leaders making empty promises.
"Our children get sick. There're old people staying in the zozos. I want to know: When are they going to build houses for Eldos, because we are side-lined on this road.
"When voting time comes, they want our votes. They make promises that don't come true for us."
Land
Local government officials had told them there was no land available to build RDP houses, Jacobs said.
"But there is a lot of vacant land around here - a lot of vacant land where they can start to build. We'd really appreciate it.
"Someone from the Parliament must come out, or the housing MEC, must come out and see that there is a need in Eldorado Park."
Promises of housing had been made since 2001, Jacobs said.
Community leader Philip Ratson told News24 that a peaceful protest was planned, but that it turned violent due to the desperation of residents.
"I can't even handle these people as a community leader. So I am just asking people: 'Please man whatever you can see in the community, as councillors, as MECs of housing, can you see the people are really desperate to have houses,'" he said.
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