Three state-owned companies are ready for EGX stake offering
Egypt will offer 22% to 25% of the shares in HHD in 1Q 2020, says Hesham Tawfik
Mohamed Samir
588 Articles
Mohamed Samir is an economic and political journalist, and analyst specialising in the Middle East. Over the past decade, he covered Egypt’s and the MENA region’s financial, business, and geopolitical updates. He is currently the Deputy Executive Editor of the Daily News Egypt.
Latest by Mohamed Samir
AUC will be the main partner and host of RiseUp Summit
For the first time, The American University in Cairo (AUC) will be the main partner and host of RiseUp Summit, the one-stop-shop event connecting startups in the Middle East and Africa. In its seventh edition, RiseUp will host the region’s top entrepreneurs, startups, investors, and creative masterminds in a three-day entrepreneurial marathon at AUC New …
Egyptian tycoon Abou El Enein plans to invest EGP 3.5bn over next three years
He added that increasing the private sector’s involvement in the Egyptian economy is very important, explaining that this can be stimulated through providing investment incentives.
Egypt’s economic reforms “a means to an end”, targeting poverty eradication: EGX chairperson
Banking sector represent 89.8% of total financial system assets, says CIB-Egypt chairperson
Egypt should complete its economic reform despite difficulties: CMA ex-head
During his speech at the conference, he added that there are some mistakes that Egypt has to avoid such as terminating the economic reforms, stating that Egypt has begun its economic reforms in the 70s and stopped after the 1977 bread riots.
Egypt’s exports to hike 20% by year-end: Trade Minister
About 36% of Egypt’s imports are production inputs, says Nassar
MedaWeek Barcelona 2019 opens up to the investment opportunities of the African continent
MedaWeek Barcelona 2019 will host a new edition of the New Africa Business Development Forum
World’s most profitable firm gets go-ahead for $1.5trn IPO
Aramco will release its IPO prospectus on 9 November
EMG pipeline deal nears completion, paving way for Israeli gas export to Egypt
Delek Drilling and Noble Energy, Dolphinus JV to acquire 39% stake in the pipeline
Macro stabilisation has succeeded, mildly more flexible USD against EGP: BoAML
CBE likely to cut policy rates further in 4Q19
Aiming to eliminate space constraints, Japanese airline unveils robot avatars
Company hopes it will replace flying, allow elderly and those with disabilities to fully participate in society
Egypt imposes 25% tariff on steel rebar, 16% on iron billets for three years
Since the beginning of this year, Egypt’s iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued a resolution in April, imposing a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days ending in October.
Time for rich countries to pay their climate debts
The problem is that climate change economic impact took its toll on poorer countries. Oxfam, a globally renowned aid and development charity, estimates that between 1998 and 2017, low-income countries reported climate-related disaster losses of $21bn, or an average of 1.8% of GDP.
Al Baraka Bank, ADIB, and EG Bank most negatively affected by New Banking Act: Prime Holding
Banking act may spur a wave of consolidation amongst smaller or undercapitalised banks
Israeli gas exports to Egypt to increase to 85.3 bcm over 15 years
Exports from Leviathan to start 1 January 2020, from Tamar to start on 30 June 2020
Moody’s sees Egypt’s rate cut, easing inflation as credit positive for banks
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Carbon pricing is essential to reducing greenhouse gases: World Bank
Competitiveness concerns should not preclude carbon pricing or emission targets to Paris Agreement levels, namely $40–$80/tCO2e by 2020 and $50–$100/tCO2e by 2030
EGX starts to reverse losses, climbing 2.5% following 8-day drop
CIB hikes by 5% and Eastern Company by 4.7%
New York returns looted priest’s golden coffin to Egypt
The Gold Coffin of Nedjemankh was stolen from the Minya region of Egypt in the aftermath of the Egyptian Revolution in October 2011.
EGX30 plunges by 3.16% in morning trading
On Sunday, EGX indexes bled heavily amid intense selling by Egyptians leading to market losses of EGP 31.5bn
Lenovo targets 40% market share in gaming laptops, 35% across all PCs in Egypt: Rony Mezeraani
Lenovo unveils Legion Y540, L-340 gaming laptops
1% improvement in resource, energy efficiency could save $275bn for Asia-Pacific: UNESCAP chief
Nothing less than a full transformation into a low-carbon economy to avert the impacts of climate change, says Ovais Sarmad
Africa’s inequality rises, as continent’s 3 richest men have more wealth than poorest 650m: Oxfam
Swaziland is Africa’s most unequal country, followed by Nigeria, South Africa, Namibia
Kristalina Georgieva visits Cairo in first stop in IMF candidacy foreign tour
President Al-Sisi affirmed his interest in boosting cooperation with international institution to support development in Egypt, Africa
Egypt’s growth will outperform B-rated peers, debt affordability remains weak: Moody’s
Increase in fertility rates, securing water resources represent long-term economic challenges
Software lies at heart of digital transformation, software-driven, open 5G infrastructure to enable quicker ROI: Juniper Networks CEO
Egyptian Government clearly really ‘gets’ the social and economic value that a digital transformation can deliver, says Rahim
Fiscal deficit to record 7.3% of GDP in FY19, current account will move into surplus from 2021, political stability to strengthen
Egypt’s fiscal consolidation to continue, unemployment shrinking, GDP to record 5.5% in 2020: The Economist Intelligence Unit
As G7 summit wraps up, DNE break down top moments
The group regards itself as a community of values, with freedom and human rights, democracy and the rule of law, and prosperity and sustainable development as its key principles.
Yemen conflict: mosaic of power struggle
“Happy Yemen” sucked into quagmire of proxy wars, famine with no end in sight
Egypt’s headline inflation drops to 4-year low of 8.7%, core inflation retreats to 5.9% in July
The announcement defied analyst expectations, as in July the Egyptian authorities decided to go ahead with slashing fuel subsidies, lifting petrol and diesel prices by about 17-30%.