In response to a call by the Textile Workers’ League, Ghazl el-Mahalla workers demonstrated yesterday against corruption and privatization, calling for prosecuting their managers who’ve caused LE147 million losses to the company. The workers also repeated some the April 6th demands of a LE1200 national minimum wage, and denounced the increase in food prices..
It was [...]

From the Daily News Egypt…
Ezz Steel, Egypt’s largest steel producer, cut its November prices by 30 percent, as slowing economic growth and the global credit crunch have forced builders to slash orders.
“This price decrease is due to the global economic crisis. Commodity prices have fallen across the board, and naturally steel prices got impacted,” said [...]

Sarah Carr reports…
Lobby group Doctors Without Rights (DWR) said at a protest Friday that the board of the Doctors’ Syndicate has failed to implement resolutions voted on by the Syndicate’s general assembly in May.
Members of DWR demonstrated on the steps of the Syndicate and distributed an open letter addressed to Syndicate head Dr Hamdy El-Sayyed [...]

New cartoon by Carlos Latuff…

From the Daily News Egypt…
Egypt’s stock market headed for another precipitous drop last week as fears of a punishing global recession stirred panic among investors and sent world financial markets into a tailspin.
Overall, Egypt’s benchmark CASE 30 index plunged 15.46 percent to close the week at 4,986.53 points, triggering a freeze in selling.

People Before Profit public meeting held at Conway Hall, Red Lion Square, London…

Gamed ya Marx ya kayedhom…
Karl Marx is back. That, at least, is the verdict of publishers and bookshops in Germany who say that his works are flying off the shelves.
The rise in his popularity has of course, been put down to the current economic crisis. “Marx is in fashion again,” said Jörn Schütrumpf, manager of [...]

From AFP…
An Egyptian man committed suicide on Monday after losing his savings which he had invested in the plummeting stock market, a security official said.
The 56-year-old man was found hanging by a rope in his Cairo home by his children, the official said.
He had saved money working in Kuwait before returning to Egypt and investing [...]

This statement was issued by the Coordination of the International Socialist Tendency on 13 October 2008…
1. The extraordinary waves of panic that have swept through global financial markets in the past few weeks have filled ordinary working people around the world with a mixture of anger, bewilderment and fear. It has become evident to [...]

From the Independent…
The biggest companies in the US car industry, brought to the edge of bankruptcy by the economic turmoil, are considering extraordinary new plans to save themselves, including mergers that could throw tens of thousands of workers out of their jobs.
General Motors, the largest US car manufacturer, has talked in recent weeks with rivals [...]

Vote for my photo ya shabab…

Click to enlarge…

Socialist Worker reports…