NEW YORK, June 29, 2007 (PRIME NEWSWIRE) -- This week's Wall Street Journal Weekend Edition centerpiece will focus on how Egypt's efforts to chart an economic and political course separate from old colonial powers has left the country a shadow of its former self. Egypt was once known for its glittering cities and world-class capital but the country has recently languished in economic decline, no longer enjoying the clout it had when it was the political leader of the Arab world.
In 1952, a group of military officers headed by Colonel Gamal Abdel Nasser overthrew the monarchy and set out to remake Egypt by purging foreigners whose influence and power was seen as oppressive. Wall Street Journal senior special writer Lucette Lagnado travels to Cairo 40 years after being forced to flee the country in a modern-day exodus that included tens of thousands of Jews and foreigners. Now, an effort is underway to preserve Egypt's Jewish history as well as attract much-needed tourist dollars to the region.
"These days, Egypt is a pivotal U.S. ally, essential in the war on terrorism and Al-Qaida, and the second largest recipient of U.S. Foreign aid," writes Lucette Lagnado in this week's Weekend Edition. "But it is also the faded grande dame of the Arab world -- a major power center, but in many respects a lesser power than it once was, overtaken by far wealthier Saudi Arabia and other Gulf states."
Additional stories appearing in this week's Weekend Edition of the Wall Street Journal include the following:
Money & Investing:
* Foreign-Exchange Rates: The Journal provides tips on getting the
best foreign-exchange rates this summer if traveling abroad.
* Housing Market: As the housing market cools, more properties are
showing up on the auction block. A surprising number are decent
properties -- such as houses built on spec during the real-estate
boom -- and there can be bargains hiding in the weeds. But it's a
risky game for prospective home-buyers to play. The Journal
explains how to look for deals and avoid the mistakes.
Pursuits:
* America's Best Barbecue: From juicy brisket in Texas to
smoke-infused pulled pork in Tennessee, the Journal's food critic
crisscrosses the country in search of America's best BBQ. While
he found impressive spots in the South, Raymond Sokolov reports
that some of the biggest names in barbecue are overrated --
and some of the best aren't where you expect.
* High-End Men's Dress Shoes -- Getting Your Money's Worth: The
price tag of men's dress shoes is on the rise -- and it isn't
just high-end brands looking to charge more. Mainstream makers
including Hush Puppies, Rockport and Bostonian are all
introducing new lines that cost more and promise fancy touches
like hand-made Italian leather and sleeker shapes. The Journal's
fashion reporter sorts out which features are worth paying extra
for.
* Travel: Hong Kong's New Groove: Ten years after Hong Kong was
handed over from the British to China, few of the island's big
fears have materialized. Hong Kong has rebounded hugely from an
economic slump. Luxury stores are everywhere, making it a
shopper's paradise, and its cosmopolitan spirit is stronger than
ever. But, as the Journal's Hong Kong bureau chief Peter Stein
reports, the mood is shifting. What you need to know to plan your
next visit.
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Editor's Note: WSJ reporters are available to discuss these topics.