The Egyptian Navy says it caught three men trying to cut a big Internet cable that runs under the Mediterranean causing slow downs in the country and as far away as Pakistan.
The International Monetary Fund is said to be close to a multi-billion dollar deal to aid the country currently grappling with major budgetary problems. The Obama administration is also looking to contribute another billion.
Just one week ago Mohamed Morsi moved into the Egyptian presidential palace. Egypt has the region's third-largest economy, but income per-person is near the bottom.