Nearly 640 people are estimated to have been killed in the violent crackdown on supporters of the deposed Muslim Brotherhood government in Egypt. Cities across the country are bracing for more violence today, after the interim government declared a state of emergency and the Brotherhood called for a "Friday of rage" to begin after morning prayers.
Aside from the toll on human life, the recent uprisings have wreaked havoc on an already troubled Egyptian economy. Banks are closed until at least Monday. A General Motors plant in a Cario suburb that employs 1,400 people has closed, and other multinational corporations with operations in Egypt are laying low.
So are multinationals reconsidering future investment in Egypt? Not yet, says Majid Jafar, CEO of Crescent Petroleum, an oil company based in the United Arab Emirates with extensive operations in Egypt. Jafar says his company has been dealing with instability since the fall of Hosni Mubarak's totalitarian government.
“Jobs,” the first ...