Mohamed Samir

583 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


Agreement between GARPAD, Al Ghurai for sugar production worth $1bn

The General Authority for Reconstruction Projects and Agricultural Development (GARPAD) and El Canal Sugar, a subsidiary of the Emirati Al Ghurair Group, signed a $1bn integrated investment project agreement on Monday, which includes the reclamation and cultivation of sugar beet crop, on an area of 181 feddans. Minister of Housing, Utilities, and Urban Communities Mostafa …

Mohamed Samir

Economic experts view Egypt’s economy in 2018 with cautious optimism 

For most of the last decade, Egypt has been squeezed between turbulence and uncertainty, and a deteriorating economy. Various challenges had to be addressed,  from political unrest and declining tourism to foreign currency and fuel shortages. To correct these structural issues within the economy, the Egyptian authorities adopted an economic reform programme in 2016. Consequently, …

Mohamed Samir

Egypt’s food industry achieved $22.5bn revenues in 2017: USDA

Egypt is one of the most populous countries in Africa and the Middle East with a population of around 100 million; the country’s population grows by about 2.5% annually. This also makes Egypt one of the world’s fastest growing markets for food and agricultural products. However, in the last decade, Egypt has been struggling with …

Mohamed Samir

Dahab, the Red Sea’s golden city

Surrounded by sparkling turquoise water on one side, and majestic mountains and desert on the other, the city of Dahab, a small coastal town, with a population of around 15,000, extends along the Red Sea coast in the Sinai Peninsula. At first, you would think that Dahab isn’t the first destination that will pop in …

Mohamed Samir

Bitcoin controversy continues as Grand Mufti bans the cryptocurrency

Bitcoin, the world’s largest cryptocurrency, was valued at around $13,833 on Tuesday, after losing about 28% of its value. The world’s most active cryptocurrency spiked above $19,000 in December for the first time ever. The market capitalisation of Bitcoin alone is currently more than $232bn. On Monday, Egypt’s Grand Mufti Shawki Allam issued a statement …

Mohamed Samir

Ministry of Antiquities reveals mysterious 2,600-year-old temple, statues 

Remains of 2,600-year-old mudbrick walls and several artefacts that can be dated to different periods of the ancient Egyptian era, as well as four furnaces from the Late Period, were discovered by an Egyptian excavation mission from the Ministry of Antiquities at Tel El-Pharaeen archaeological site. The find was announced in a Tuesday press statement …

Mohamed Samir

CBE extends tourism support initiative to December 2018

The Central Bank of Egypt (CBE) decided to extend its tourism support initiative to December 2018, an initiative that was originally launched in December 2015, according to a press statement released by the bank on Thursday. The initiative aims to provide financing facilities to tourism-related activities, including the construction and renovation of hotels and tourist …

Mohamed Samir

7.5m tourists visited Egypt in 2017

The number of tourists that visited Egypt from the start of 2017 until November registered 7.5 million, marking a 54.7% increase compared to the same period in 2016, according to data released by the Egyptian government. Tourist arrivals are on an increasing trend, yet the number is still well below the peak of 14.5 million …

Mohamed Samir

IMF approves disbursement of $2bn third portion of loan to Egypt

The executive board of the International Monetary Fund (IMF) announced Wednesday its completion of the second review of Egypt’s economic reform programme, allowing the disbursement of $2bn, the third portion of the $12bn IMF loan to Egypt approved in November. The third portion brings the total disbursements to about $6.08bn. The IMF delegation completed their …

Mohamed Samir

Sharm, Hurghada hotels marked as touristic hotspots, 97%, 62%, forecasted growth respectively: Colliers

Sharm El-Sheikh and Hurghada hotels were marked as touristic hotspots with a forecasted growth of 97% and 62%, respectively in revenues per available rooms (RevPAR). The surge is a result of recovering from the effects of the Metrojet incident in 2015, according to Colliers International’s “The MENA Hotel Forecast November 2017” report. Moreover, the report …

Mohamed Samir