China tightening controls on Internet






BEIJING (AP) — China‘s new communist leaders are increasing already tight controls on Internet use and electronic publishing following a spate of embarrassing online reports about official abuses.


The measures suggest China’s new leader, Xi Jinping, and others who took power in November share their predecessors’ anxiety about the Internet’s potential to spread opposition to one-party rule and their insistence on controlling information despite promises of more economic reforms.






“They are still very paranoid about the potentially destabilizing effect of the Internet,” said Willy Lam, a politics specialist at the Chinese University of Hong Kong. “They are on the point of losing a monopoly on information, but they still are very eager to control the dissemination of views.”


This week, China’s legislature took up a measure to require Internet users to register their real names, a move that would curtail the Web’s status as a freewheeling forum to complain, often anonymously, about corruption and official abuses. The legislature scheduled a news conference Friday to discuss the measure, suggesting it was expected to be approved.


That comes amid reports Beijing might be disrupting use of software that allows Web surfers to see sites abroad that are blocked by its extensive Internet filters. At the same time, regulators have proposed rules that would bar foreign companies from distributing books, news, music and other material online in China.


Beijing promotes Internet use for business and education but bans material deemed subversive or obscene and blocks access to foreign websites run by human rights and Tibet activists and some news outlets. Controls were tightened after social media played a role in protests that brought down governments in Egypt and Tunisia.


In a reminder of the Web’s role as a political forum, a group of 70 prominent Chinese scholars and lawyers circulated an online petition this week appealing for free speech, independent courts and for the ruling party to encourage private enterprise.


Xi and others on the party’s ruling seven-member Standing Committee have tried to promote an image of themselves as men of the people who care about China’s poor majority. They have promised to press ahead with market-oriented reforms and to support entrepreneurs but have given no sign of support for political reform.


Communist leaders who see the Internet as a source of economic growth and better-paid jobs were slow to enforce the same level of control they impose on movies, books and other media, apparently for fear of hurting fledgling entertainment, shopping and other online businesses.


Until recently, Web surfers could post comments online or on microblog services without leaving their names.


That gave ordinary Chinese a unique opportunity to express themselves to a public audience in a society where newspapers, television and other media are state-controlled. The most popular microblog services say they have more than 300 million users and some users have millions of followers reading their comments.


The Internet also has given the public an unusual opportunity to publicize accusations of official misconduct.


A local party official in China’s southwest was fired in November after scenes from a videotape of him having sex with a young woman spread quickly on the Internet. Screenshots were uploaded by a former journalist in Beijing, Zhu Ruifeng, to his Hong Kong website, an online clearing house for corruption allegations.


Some industry analysts suggest allowing Web surfers in a controlled setting to vent helps communist leaders stay abreast of public sentiment in their fast-changing society. Still, microblog services and online bulletin boards are required to employ censors to enforce content restrictions. Researchers say they delete millions of postings a day.


The government says the latest Internet regulation before the National People’s Congress is aimed at protecting Web surfers’ personal information and cracking down on abuses such as junk e-mail. It would require users to report their real names to Internet service and telecom providers.


The main ruling party newspaper, People’s Daily, has called in recent weeks for tighter Internet controls, saying rumors spread online have harmed the public. In one case, it said stories about a chemical plant explosion resulted in the deaths of four people in a car accident as they fled the area.


Proposed rules released this month by the General Administration of Press and Publications would bar Chinese-foreign joint ventures from publishing books, music, movies and other material online in China. Publishers would be required to locate their servers in China and have a Chinese citizen as their local legal representative.


That is in line with rules that already bar most foreign access to China’s media market, but the decision to group the restrictions together and publicize them might indicate official attitudes are hardening.


That comes after the party was rattled by foreign news reports about official wealth and misconduct.


In June, Bloomberg News reported that Xi’s extended family has amassed assets totaling $ 376 million, though it said none was traced to Xi. The government has blocked access to Bloomberg’s website since then.


In October, The New York Times reported that Premier Wen Jiabao’s relatives had amassed $ 2.7 billion since he rose to national office in 2002. Access to the Times’ Chinese-language site has been blocked since then.


Previous efforts to tighten controls have struggled with technical challenges in a country with more than 500 million Internet users.


Microblog operators such as Sina Corp. and Tencent Ltd. were ordered in late 2011 to confirm users’ names but have yet to finish the daunting task.


Web surfers can circumvent government filters by using virtual private networks — software that encrypts Web traffic and is used by companies to transfer financial data and other sensitive information. But VPN users say disruptions that began in 2011 are increasing, suggesting Chinese regulators are trying to block encrypted traffic.


Curbs on access to foreign sites have prompted complaints by companies and Chinese scientists and other researchers.


In July, the American Chamber of Commerce in China said 74 percent of companies that responded to a survey said unstable Internet access “impedes their ability to do business.”


Chinese leaders “realize there are detrimental impacts on business, especially foreign business, but they have counted the cost and think it is still worthwhile,” said Lam. “There is no compromise about the political imperative of controlling the Internet.”


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Samsung expects to ship more than half a billion phones in 2013









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Natalie Portman, Kristen Stewart most bankable Hollywood stars






NEW YORK (Reuters) – Actresses Natalie Portman and Kristen Stewart are Hollywood’s most bankable stars and provide studios with the highest average returns for their films, according to Forbes.com.


Academy award winner Portman topped the list of best actors for the buck, providing about $ 42.70 for every dollar she earns.






“Black Swan,” for which she won her best actress Oscar, was produced for an estimated $ 13 million and earned $ 329 million in global box office sales.


“We estimate that for every dollar Portman is paid by the studios, she returns $ 42.70. Compare that to Eddie Murphy, our most overpaid star, who returns $ 2.30 for every dollar he gets paid,” Forbes.com said.


“Twilight” star Stewart was not far behind, bringing in $ 40.60. She also topped the Forbes list of highest-earning actresses with an estimated $ 34.5 million in salary in 2012.


“Stewart was able to earn a ton over the last three years and offer a healthy return thanks to ‘Twilight,’” according to Forbes.com. “Even though she was paid $ 25 million to star in the last two films, she was clearly worth the money.”


Forbes.com analyzed salaries, estimated box office grosses from the actor’s last three films over the previous three years to calculate the studio’s return on investment. The most bankable stars tended to be featured in the most profitable films.


Stewart’s two co-stars in the “Twilight” films were also good investments for the studio. Robert Pattinson came in fourth with a return of $ 31.70 and Taylor Lautner was No. 6, making $ 29.50 for the studio for every dollar he was paid.


(This story was refiled to correct spelling of Kristen)


(Editing by Steve Orlofsky)


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Web-based info may not increase cancer screening






NEW YORK (Reuters Health) – Offering women information on colon cancer screening via the web does not get them to take up screening any more effectively than printed materials, according to a new study.


“It’s disappointing that the web didn’t have more effect,” said Dr. David Weinberg of Fox Chase Cancer Center in Philadelphia, the report’s lead author.






Although the U.S. Preventive Services Task Force recommends that adults between ages 50 and 75 get screened regularly for colorectal cancer, about 40 percent of people don’t follow those guidelines.


To raise awareness of the recommendations and encourage people to go get screened, researchers have developed a variety of approaches, Weinberg said, including videos and printed materials. But none of these “have been tremendously successful,” he added.


Dr. Hamant Roy, director of gastroenterology research at NorthShore University HealthSystem in Evanston, Illinois, said one method that has been shown to be effective is simply having doctors spend time with their patients to talk about the cancer tests.


“But one of the issues is they have to see more and more people with less and less time, so it gets really hard to have these discussions with patients,” said Roy, who was not involved in the new study.


To see whether the web might provide an easily accessible and inexpensive alternative for getting people to comply with screening recommendations, Weinberg and his colleagues asked 865 women who were coming in for routine gynecology appointments to participate in the study.


Of those, 171 saw their doctor as normal, 349 also received printed materials about colon cancer screening at the time of their visit and 345 were offered access to a web site that contained the same information as the printed matter.


Included in the materials was information about the benefits of screening and harms of going unscreened, as well as background on the various types of colon cancer screen available: a stool test once a year, a sigmoidoscopy every five years or a colonoscopy every 10 years.


All the women were eligible to get screened for colon cancer based on their age and health status.


Four months after the doctor visit, however, roughly 12 percent of the women – regardless of whether they received the extra information or not – had gotten a colon cancer screen.


Roy called the numbers “dismal.”


“At the end of the day, something is better than nothing,” he said, but compared to screening rates for breast cancer, the uptake for colorectal cancer screening was quite low.


Among the women in the study, published in the Archives of Internal Medicine, 73 percent had received a mammogram in the past year.


On the other hand, Weinberg said, “you might argue their participation in the study did manage to raise their interest level enough” to get screened.


Not enough, however, to get most of the women to even access the website Weinberg’s group had developed.


Only 24 percent had logged on, according to the researchers’ records, and just 16 percent of the women remembered going to the website.


Weinberg still thinks there might be ways that the web could be helpful.


“I think that the web has great promise…the question is, how do you get people to look at it in the first place?” he said.


Perhaps following up with people to ask them about their experience on the website might improve their participation, he suggested.


Roy agreed that it would be premature to toss out the web as a potential tool for increasing screening rates.


“It seems like the energy to get people over the hump to get colorectal screening is higher than simply passively going to a website. I think the website is maybe helpful, but there needs to be more help to get them over the edge,” he said.


SOURCE: http://bit.ly/VizaRR Archives of Internal Medicine, online December 17, 2012.


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Starbucks’s $40,000 Bid for Bipartisanship






Starbucks’s (SBUX) campaign for a fiscal-cliff deal, in which employees of D.C.-area shops are encouraged to write “Come Together” on customers’ cups, has drawn a lot of attention – and some mockery. The Daily Beast called it “doppio,” and the move was ridiculed as as a sign of desperation on Twitter.


It is no empty gesture. Starbucks expects to sell up to 200,000 cups of coffee in the D.C. metro area on Thursday and Friday. While the coffee giant does not offer ad space on its cups, Gregory Browne, a sales associate at PromoMedia Concepts (which produces about 40 million cups for third-party advertisers each year in the U.S.), estimates the company could get $ 0.20 per cup from advertisers. At that rate, the two-day cup campaign in D.C. is worth up to $ 40,000—enough to buy a full-page ad in most newspapers. (Starbucks also bought ads in the Washington Post and the New York Times for the campaign.)






Twenty cents per cup seems high? The average rate to advertise on cups at independent coffee shops is about half that, says Browne, but Starbucks could command more thanks to its vast distribution. The company sells 4 billion cups each year globally.


Not that you’ll see ads there any time soon. “The cup is not for sale,” says Starbucks spokesperson Jim Olson. “It’s a very cherished, personal connection we have with our customers, not a marketing billboard.” Still, it does put the company’s anxieties about the political climate at center stage.


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Afghan bomber attacks near major US base






KABUL, Afghanistan (AP) — A vehicle driven by a suicide bomber exploded at the gate of a major U.S. military base in eastern Afghanistan on Wednesday, killing the attacker and three Afghans, Afghan police said. The Taliban claimed responsibility for the attack.


Police Gen. Abdul Qayum Baqizai said a local guard who questioned the vehicle driver at the gate of Camp Chapman was killed along with two civilians and the assailant. The camp is located adjacent to the airport of the capital of Khost province, which borders Pakistan. Chapman and nearby Camp Salerno had been frequently targeted by militants in the past, but violent incidents have decreased considerably in recent months.






Taliban spokesman Zabihullah Mujahid said in an email that the bomber targeted Afghan police manning the gate and Afghans working for the Americans entering the base. He claimed high casualties were inflicted.


NATO operates with more than 100,000 troops in the country, including some 66,000 American forces. It is handing most combat operations over to the Afghans in preparation for a pullout from Afghanistan in 2014. Militant groups, including the Taliban, rarely face NATO troops head-on and rely mainly on roadside bombs and suicide attacks.


NATO forces and foreign civilians have also been increasingly attacked by rogue Afghan military and police, eroding trust between the allies.


On Tuesday, the Interior Ministry said a policewoman who killed an American contractor in Kabul a day earlier was a native Iranian who came to Afghanistan and displayed “unstable behavior” but had no known links to militants.


The policewoman, identified as Sgt. Nargas, shot 49-year-old Joseph Griffin, of Mansfield, Georgia, on Monday, in the first such shooting by a woman in the spate of insider attacks. Nargas walked into a heavily-guarded compound in the heart of Kabul, confronted Griffin and shot him once with her pistol.


The U.S-based security firm DynCorp International said on its website that Griffin was a U.S. military veteran who earlier worked with law enforcement agencies in the United States. In Kabul, he was under contract to the NATO military command to advise the Afghan police force.


The ministry spokesman, Sediq Sediqi, told a news conference that Nargas, who uses one name like many in the country, was born in Tehran, where she married an Afghan. She moved to the country 10 years ago, after her husband obtained fake documents enabling her to live and work there.


A mother of four in her early 30s, she joined the police five years ago, held various positions and had a clean record, he said. Sediqi produced an Iranian passport that he said was found at her home.


No militant group has claimed responsibility for the killing.


The chief investigator of the case, Police Gen. Mohammad Zahir, said that during interrogation, the policewoman said she had plans to kill either the Kabul governor, city police chief or Zahir himself, but when she realized that penetrating the last security cordons to reach them would be too difficult, she saw “a foreigner” and turned her weapon on him.


There have been 60 insider attacks this year against foreign military and civilian personnel, compared to 21 in 2011. This surge presents another looming security issue as NATO prepares to pull out almost all of its forces by 2014, putting the war against the Taliban and other militant groups largely in the hands of the Afghans.


More than 50 Afghan members of the government’s security forces also have died this year in attacks by their own colleagues. The Taliban claims such incidents reflect a growing popular opposition to the foreign military presence and the Kabul government.


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Netflix suffers Christmas Eve outage, points to Amazon






NEW YORK (Reuters) – An outage at one of Amazon‘s web service centers hit users of Netflix Inc.’s streaming video service on Christmas Eve and was not fully resolved until Christmas day, a spokesman for the movie rental company said on Tuesday.


The outage impacted Netflix subscribers across Canada, Latin America and the United States, and affected various devices that enable users to stream movies and television shows from home, Netflix spokesman Joris Evers said. Such devices range from gaming consoles such as Nintendo Wii and PlayStation 3 to Blu-ray players.






Evers said that the issue was the result of an outage at an Amazon Web Services‘ cloud computing center in Virginia, and started at about 12:30 p.m. PST (2030 GMT) on Monday and was fully restored Tuesday morning, although streaming was available for most users late on Monday.


“We are investigating exactly what happened and how it could have been prevented,” Evers said.


“We are happy that people opening gifts of Netflix or Netflix capable devices can watch TV shows and movies and apologize for any inconvenience caused last night,” he added.


An outage at Amazon Web Services, or AWS, knocked out such sites as Reddit and Foursquare in April of last year.


Amazon Web Services was not immediately available for comment. Evers, the Netflix spokesman, declined to comment on the company’s contracts with Amazon.


(Reporting by Sam Forgione; Editing by Leslie Gevirtz)


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Queen delivers 1st Christmas message in 3D






LONDON (AP) — Queen Elizabeth II has hailed the holidays in a new dimension, delivering her Christmas message for the first time in 3D.


In the annual, prerecorded broadcast, the monarch paid tribute to the armed forces, “whose sense of duty takes them away from family and friends” over the holidays, and expressed gratitude for the outpouring of enthusiasm for her Diamond Jubilee celebrations.






The queen said she was struck by the “strength of fellowship and friendship” shown by well-wishers to mark her 60 years on the throne.


“It was humbling that so many chose to mark the anniversary of a duty which passed to me 60 years ago,” she said as footage showed crowds lining the Thames River in the rain earlier this year for a boat pageant. “People of all ages took the trouble to take part in various ways and in many nations.”


The queen also reflected on Britain’s hosting of the Olympic games in 2012, praising the “skill, dedication, training and teamwork of our athletes” and singling out the volunteers who devoted themselves “to keeping others safe, supported and comforted.”


Elizabeth’s message aired shortly after she attended a traditional church service at St. Mary Magdelene Church on her sprawling Sandringham estate in Norfolk.


Wearing a turquoise coat and matching hat, the monarch rode to church in a Bentley, accompanied by granddaughters Beatrice and Eugenie. Her husband, Prince Philip, walked from the house to the church with other members of the royal family.


Three familiar faces were missing from the family outing. Prince William is spending the holiday with his pregnant wife Kate and his in-laws in the southern England village of Bucklebury. Prince Harry is serving with British troops in Afghanistan.


After the church service, the royals usually gather to watch the queen’s prerecorded television broadcast, a tradition that began with a radio address by King George V in 1932.


The queen has made a prerecorded Christmas broadcast on radio since 1952 and on television since 1957. She writes the speeches herself and the broadcasts mark the rare occasion on which the queen voices her own opinion without government consultation.


Her switch to 3D was not the only technological leap for prominent British figures this Christmas.


The Archbishops of Canterbury and York chose to tweet their sermons for the first time, in order to bring Christmas to a new digital audience.


In his speech, Archbishop of Canterbury Rowan Williams said he has been inspired by meeting victims of suffering over the past decade while leading the world’s 80 million-strong Anglican Communion.


Delivering his final Christmas Day sermon from Canterbury Cathedral, Williams also acknowledged how a vote against allowing women to become bishops has damaged the credibility of the church.


Still, he said, it was “startling” to see after the vote how many people “turned out to have a sort of investment in the church, a desire to see the church looking credible and a real sense of loss when — as they saw it — the church failed to sort its business out.”


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Wife’s Garbled Text a Sign of Stroke






Dec 25, 2012 12:57pm



8ae4a  gty texting ll 121225 main Wifes Garbled Text a Sign of Stroke

Sending garbled texts may be a sign of stroke. Image credit: Stone/Getty Images.







Smartphone autocorrect is famous for scrambling messages into unintelligible gibberish but when one man received this garbled text from his 11-week-pregnant wife, it alarmed him:


“every where thinging days nighing,” her text read. “Some is where!”


Though that may sound like every text you’ve ever received, the woman’s husband knew her autocorrect was turned off. Fearing some medical issue, he made sure his 25-year-old wife went immediately to the emergency room.


When she got there, doctors noted that she was disoriented, couldn’t use her right arm and leg properly and had some difficulty speaking. A magnetic resonance imaging scan — MRI — revealed that part of the woman’s brain wasn’t getting enough blood. The diagnosis was stroke.


Fortunately, the story has a happy ending. A short hospital stay and some low-dose blood thinners took care of the symptoms and the rest of her pregnancy was uneventful.


Click here to read about how texting pedestrians risk injuries


The three doctors from Boston’s Harvard Medical School, who reported the case study online in this week’s Archives of Neurology, claim this is the first instance they know of where an aberrant text message was used to help diagnose a stroke. In their report, they refer to the woman’s inability to text properly as “dystextia,” a word coined by medical experts in an earlier case.


Dystextia appears to be a new form of aphasia, a term that refers to any trouble processing language, be it spoken or written. The authors of the Archives paper said that at least theoretically, incoherent text messages will be used more often to flag strokes and other neurological abnormalities that lead to the condition.


“As the accessibility of electronic communication continues to advance, the growing digital record will likely become an increasingly important means of identifying neurologic disease, particularly in patient populations that rely more heavily on written rather than spoken communication,” they wrote.


Even though jumbled texts are so common, Dr. Larry Goldstein, a neurologist who is the director of the stroke center at Duke University, said he also believes it’s possible they can be used to sound the alarm on a person’s neurological state, especially in a case like this where the text consisted of complete words that amounted to nonsense rather than the usual autocorrected muddle.


“It would have been very easy to dismiss because of the normal problems with texting but this was a whole conversation that wasn’t making sense,” Goldstein said. “I might be concerned about a patient based on a text like this if they were telling me they hadn’t intended to send a disjointed jumble but they weren’t able to correct themselves.”


In diagnosing stroke, Goldstein said both patients and medical professionals tend to discount aphasic symptoms, even in speech, but they can often be the first clue something is up. In this woman’s case, other signs were there. Her obstetrician realized in retrospect that she’d had trouble filling out a form earlier in the day. She had difficulties speaking too which might also have been picked up sooner if a recent upper respiratory infection hadn’t reduced her voice to a whisper.


But unlike this woman, most people leave their autocorrect turned on. If we relied solely on maddeningly unintelligible text messages to determine neurological state, neurologists might have lines out the door.



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Egypt fears over currency lead to dollar rush






CAIRO (AP) — As Egypt prepared to release official results of the divisive constitutional referendum on Tuesday, the country edged deeper into economic crisis with some worried residents hoarding dollars for fear that the local currency could weaken significantly.


The anxiety over the economy was visible at currency exchanges in the upscale Cairo neighborhood of Zamalek, which ran out of dollars by midday and offered only euros — a rare occurrence. Some banks, too, said they had run out of cash dollars, forcing people to seek foreign currency from exchanges around the city.






“I asked around in many exchange places and can’t find dollars anywhere,” said Cairo resident Mahmoud Kamel after unsuccessfully visiting one exchange office in Zamalek. “I want to exchange money because I’m afraid the Egyptian pound will not have any value soon.”


Both political instability and economic fundamentals are playing a role in Egypt’s growing financial distress. A constitution drafted by Islamist allies of President Mohammed Morsi deeply polarized the country and sparked huge street demonstrations that at times exploded into deadly violence. According to unofficial results the constitution passed in a referendum over the past two weekends with a 64 percent “yes” vote.


The official result due out later Tuesday is expected to confirm the unofficial tallies.


The dash to sell Egyptian pounds for dollars prompted the Central Bank of Egypt to issue a statement on Monday calling on banks not to listen to rumors circulating about the fiscal health of the nation.


In a statement carried on official news websites, the bank declared its commitment to guarantee all deposits in local and foreign currencies to banks in Egypt and said banks are “financially strong enough” to ensure the fulfillment of any obligations toward clients.


Late Monday, the president issued a decree banning people from leaving Egypt with more than $ 10,000 or its equivalent in other currencies.


There was one particularly nerve-rattling report in recent days that longtime Central Bank Governor Farouk Okdah had resigned. The report came on Saturday during the second and final round of voting on the constitutional referendum.


Official media quickly retracted the news after reporting it. The governor then turned up at a meeting of the government’s economic team on Sunday in an apparent attempt to quell nervousness over the state of the economy.


Egypt’s currency had been stable trading around 6 pounds to the dollar for the first half of the year. It has since slipped, especially in the past two months as political instability worsened. The Central Bank of Egypt listed Tuesday that the dollar was selling at 6.18 to the Egyptian pound. To buy dollars at currency exchanges, the rate was 6.20.


Since Egypt’s uprising nearly two years ago, the country has lost more than half of its foreign currency reserves from $ 36 billion in 2010 to around $ 15 billion currently. The reserve level has been slightly propped up by some Qatari deposits in past months.


Underlining the cash shortage, unofficial estimates put Egypt’s reserves at just around $ 4 billion in hard currency, with the rest in gold and dollar treasury bills for the local market.


Major foreign currency earners, such as foreign direct investment and tourism, have dropped off because of political unrest and deterioration in security following Hosni Mubarak’s ouster in February 2011.


Egypt has requested a $ 4.8 billion loan from the International Monetary Fund to bridge the burgeoning budget deficit, but talks largely stalled this month after mass protests turned violent over disputes around the draft constitution.


Economic experts say that Egypt’s current foreign reserves barely cover three months of imports, which is the IMF’s minimum recommended coverage.


In another blow, Standard & Poors downgraded Egypt’s long-term credit rating by one notch to B-, six steps below investment grade.


One of biggest problems facing the market, according to those experts, is a lack of transparency on the part of President Mohammed Morsi’s government.


“The economy is a reflection of the political unrest,” said Khaled Abdel-Hamid, head of Treasury at Union National Bank of the UAE in Egypt. “We need transparency. The people have to know the real position of the economy in Egypt.”


He predicted in 2013, the pound will continue to devalue and inflation rates will rise, affecting the price of food and basic commodities.


“What matters is the end result. People want to live. If people can’t find food or security, what does it mean if there is a president or constitution?” banker Abdel-Hamid said.


The London-based consultancy Capital Economics has said, though, that the Egyptian pound “looks significantly overvalued” and estimated that it might need to fall by around 20 percent in order to restore competitiveness.


Core inflation, which excludes regulated items and fruit and vegetables, rose to 4.6 percent in October month from 3.8 percent on an annual basis in September. Subsidy cuts and tax increases linked to the IMF agreement could push inflation to 8 percent next year, Capital Economics estimated.


Egyptian Prime Minister Hesham Kandil said Tuesday that his government was focused on luring foreign investors back to Egypt, supporting the foreign reserves and plugging the budget deficit.


“A priority for the government to raise employment rates, reduce inflation levels and increase Egyptian exports’ competition abroad,” he said.


Leading civil society and rights groups have protested against the IMF deal, saying that the government has not released the terms of the agreement being worked out. Rumors swirling around impending tax hikes, subsidy cuts and other bread-and-butter issues have heightened the public’s concern. Around 40 percent of Egyptians live just at or below the poverty line of surviving on around $ 2 a day.


Promises by Morsi and his Muslim Brotherhood group that the Islamist-drafted constitution would bring about the stability Egyptians crave were dismissed by economic experts who warned that without enough currency reserves, there is little to stop the pound from falling steeply in value.


“If anything, we were stable. We are still entering the period of instability,” said Haytham Abdel Fattah, head of the Treasury and International Markets Manager at Industrial Development Bank. “The instability of the foreign exchange rate is not at all detached from the political instability. It is a reflection and clear mirror to what is happening,” he added.


Tens of thousands of Egyptians protested ahead of the referendum on the charter to demand a new and more diverse assembly to draft the constitution. Instead, the Islamist-dominated assembly hurriedly passed it before a court could rule on the panel’s legitimacy. Morsi issued decrees, later rescinded, that gave him near-absolute powers to push the constitution to a nationwide vote.


Backers of the Brotherhood and others Islamist parties also rallied in support of the charter, leaving the country split and leading to violent clashes between the two camps on Dec. 5 that killed 10 outside the presidential palace in Cairo this month. The turmoil rocked Egypt’s stock market, delayed the IMF loan talks and hurt the country’s peak tourism season.


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