CAIRO (AP) — Egyptian President Mohammed Morsi says that there will be no further privatization of state-owned companies.
Egypt’s economy is hard hit by the more than two years of turmoil since the ouster of longtime president Hosni Mubarak in a mass uprising in 2011. Losses to the vital tourism sector have depleted government revenues and public sector companies are an additional burden on the budget.
In a Tuesday speech on the eve of May Day, Morsi — an Islamist from the Muslim Brotherhood group — said there would be no selling of the public sector. He did not specify whether this was a temporary or permanent measure.
Egypt privatized key companies in the 1990s under Mubarak but the program stalled in recent years. Critics say the sales were tainted by corruption.
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The first runner to cross the finish line of the 2013 Honolulu Marathon was Gilbert Chepkwony who finished in 2:18:47.
Airline officials say due to the wintry weather several flights to Dallas-Fort Worth International Airport and from there Sunday were cancelled.
A 3.8 magnitude earthquake happened just before 10:30 pm. Saturday at 6.1 miles east southeast of Holualoa on the Big Island according to the US Geological Society.