BREAKING NEWS

Egypt's Morsi plans Russia trip, wheat and oil in focus

CAIRO - Egyptian President Mohamed Morsi will visit Russia next week, a state-run newspaper reported on Friday, in a visit market sources expect to focus on the cash-strapped Arab state's energy, wheat import and financing needs.
Morsi will meet President Vladimir Putin for talks that would explore "ways to strengthen cooperation between the two countries in all fields", Al Gomhuria reported, citing an anonymous source.The Syria crisis would be high on his agenda, it said. The presidency could not immediately be reached for comment.
Egypt is grappling with an economic crisis caused by more than two years of political instability. The country's foreign currency reserves are at critically low levels and the government is struggling with an unaffordable deficit.
Shortages of imported fuel are disrupting transport and causing power cuts in the country of 84 million. The situation is expected to worsen as summer approaches and Egyptians switch on their air conditioning.
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