Media in the land of the Pharoahs are pushing free speech, but they may be missing how the local newspaper market is changing.

When MerchantBridge’s Samir A. Arab test-drove a Spyker car a few years ago, he was impressed. “How much?” he asked. “$250,000,” came the reply.

Not long ago Batelco wasn’t just a big fish in the pond; it was the only fish. Now competition has made Batelco’s size a liability. Can the company wriggle free?