According to the Middle East Times, an English language newspaper distributed in Egypt:
Reasons for censorship:
We are generally not allowed to do the following things:
Report on human rights abuses
Criticize the military
Point out the ill-treatment of Egyptians in "friendly" Arab countries, especially in Saudi Arabia.
Discuss modern, unorthodox interpretations of Islam.
Report on discrimination against Coptic Christians.
However, the censor is very arbitrary -- sometimes these things go through, sometimes they don't.
True, but you have to consider what mitigates these threats: Money. Moola. Do$$ars.
I spent time in Cambodia, the journalists and English-language pubs there had ongoing scrapes with the gov, but the gov (apparently) realized that taking the localized critiques - who reads "Cambodia Daily" or ""Phnom Penh Post" - was preferable to losing aid $$$$ by retaliating against them.