Mohamed Samir

629 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.

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Latest by Mohamed Samir


End of Korean Peninsula tensions could ease Sawiris’ problems

The Egyptian telecommunications firm Orascom Telecom and Media Technology (OTMT) is the main reason behind the rise of mobile phone usage in hermetically sealed North Korea in recent years. OTMT secured a 75% stake in Koryolink, a joint venture with North Korea’s Korea Post and Telecommunications Corporation in 2008. It is estimated that as many …

Mohamed Samir

Counterterrorism cooperation in Mediterranean is essential: Ismail

Egypt’s Prime Minister Sherif Ismail said that the “terrorism phenomenon” represents a threat to global security and there is a need to work to achieve mutual cooperation in the field of information exchange between the Mediterranean countries. He added that collaboration to bolster efforts in the fight against the financing of militant groups, as well …

Mohamed Samir

Kokio: A different perspective of Korean cuisine

The hunt for the perfect poultry restaurant never ceases. This time, our quest brought us to a tiny restaurant hidden deep in Maadi. Finding a hidden gem is the biggest part of the fun for many, and the Daily News Egypt team had some talks about a Korean restaurant in Maadi whose entire menu consists …

Mohamed Samir

Israeli gas imports suspension lawsuit: Another stumbling block to Egypt’s energy hub aspirations

Cairo Administrative Court referred on Tuesday a lawsuit demanding the suspension of the approval of natural gas imports from Israel, for violating the Egyptian Constitution and Law No 196 of 2017 regulating the gas market to the State Council Commissioner Authority (SCCA). The lawsuit alleges that allowing natural gas imports from the “Zionist entity” endangers …

Mohamed Samir

Libyan oil pipeline attacked by alleged IS fighters

A Libyan crude oil pipeline owned by the Waha Oil Company, which feeds the port at Sidra. Libya’s largest oil terminal, was set on fire on Saturday. The attack lead to the loss of between 70,000 barrels per day (bpd) and 100,000 bpd, according to the state-owned National Oil Company (NOC). According to Reuters, Libyan …

Mohamed Samir

Yorktown to sell Egypt-based oil, gas company Merlon International

The New York-based private equity firm Yorktown Partners is reportedly planning to sell its Egypt-focused oil and gas company Merlon International, Reuters reported on Saturday. According to the reports, the firm aims to raise up to $400m, and the sale will be run by Citigroup, with expected bids planned to be concluded by July. Merlon …

Mohamed Samir

Runners defy harsh weather at Earth’s northernmost marathon

Over 60 athletes from over 20 nations, all vying for glory, took part in the 2018 edition of the annual North Pole Marathon which took place at Camp Barneo on Tuesday. The marathon, known as the “world’s coolest marathon,” took place at Camp Barneo, which is dubbed the North Pole Camp, and is located 49 …

Mohamed Samir

Egypt’s social spending strives to curb negative effects of reforms

Subsidies FY 2015/16 (billions of EGP) FY 2016/17 (billions of EGP) FY 2017/18 (billions of EGP) FY 2018/19 (billions of EGP) Food commodity subsidies 42.7 47.5 82.2 86.2 Cash subsidies (Social solidarity pensions and Takaful and Karama programmes) 8.8 12.9 17.5 17.5 Number of beneficiaries 0.7 1.7 2.85 3.2 Sources: Ministry of Finance and Ministry …

Mohamed Samir

Egypt targets 26% subsidy cuts for petroleum products, 47% for electricity

The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters. The government document allegedly obtained by the news agency showed that the value of subsidies in the new budget amounted to EGP 89.075bn, down from about EGP …

Mohamed Samir

Trump will regret nuclear deal pullout: Rouhani

Iranian President Hassan Rouhani announced that the American President Donald Trump would regret it if he decided to withdraw from the 2015 nuclear deal signed between Tehran and six world powers, Reuters reported on Monday. Iran’s response will be stronger than what the US imagine, and they would see that within a week, Rouhani said …

Mohamed Samir

Egypt targets 4% deficit by 2022: El-Garhy

Egypt’s Minister of Finance Amr El-Garhy said that his ministry aims to reduce the budget deficit to 4% by 2022, while continuing the economic reform programme, according to state-owned Middle East News Agency. El-Garhy’s statement came on the sidelines of the launch event of the “system of tax returns, discount, and collection, with the activation …

Mohamed Samir

EGP 942bn investments in government’s development plan for FY 2018/19

The government’s economic and social development plan for fiscal year (FY) 2018/19 includes total investments of EGP 942bn. The new plan marks a 46% increase compared to FY 2017/18. The plan was revealed by Prime Minister Sherif Ismail during a cabinet meeting on Thursday. Ismail explained that it is the largest investment plan in Egyptian …

Mohamed Samir

Sarah Francis’ Dead Dog wins CineGouna award at Beirut Cinema Platform 

CineGouna Platform presented award to Dead Dog by Sarah Francis at Beirut Cinema Platform (BCP). The award will guarantee the film’s automatic selection as part of CineGouna Springboard. “El Gouna Film Festival aims to support Arab filmmakers and Arab cinema through the CineGouna platform; therefore, we are excited to be supporting Beirut Cinema Platform through …

Mohamed Samir

Amid moderate voter turnout, Al-Sisi heads toward second term victory

Egyptians continued to cast their ballots in the 2018 presidential election which kicked off on Monday. Citizens across the country voted amid tight security. Over 11,000 polling stations nationwide will again open from 9:00 am to 9:00 pm Wednesday. Voting started to a slower turnout on Tuesday, as authorities urged people to turn out and …

Mohamed Samir