Mohamed Samir

631 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


Eastern Mediterranean gas hub: source for regional harmony or dissension 

The Eastern Mediterranean region has become a hotspot of international energy discussions in the last decade, following a series of large-scale gas discoveries off the coasts of Egypt, Cyprus, and Israel. To utilise such potential, with confirmed reserves of about 2,000bn cubic metres (bcm) of gas, plenty of export and regional cooperation scenarios are being …

Mohamed Samir

34% increase in fuel subsidies costs in H1 FY 2017/18: El-Molla

The costs of fuel subsidies grew by 34% in the first half (H1) of the fiscal year (FY) 2017/18, to reach EGP 51bn, increasing from EGP 38bn,  Minister of Petroleum Tarek El-Molla told Reuters on Wednesday.   El-Molla added that despite the witnessed increase in subsidies costs, the subsidies bill is still EGP 4bn below …

Mohamed Samir

EGP 1.627bn allocated to restart urgent, stalled projects

Minister of Planning, Follow-up, and Administrative Reform Hala Al-Saeed approved the allocation of EGP 1.627bn on Wednesday for required investments to implement stalled and urgent projects across different governorates. In a press statement, Al-Saeed announced that this comes withing the framework of the state’s assistance for stalled projects, so they can contribute to the economy …

Mohamed Samir

Al-Sisi arrives in Abu Dhabi to discuss Gulf issues, regional developments

Egyptian President Abdel Fattah Al-Sisi arrived in the capital of the United Arab of Emirates (UAE),  Abu Dhabi, on Tuesday. Al-Sisi’s two-day visit agenda will include discussing recent regional developments, Gulf issues, the two countries’ bilateral relations, and regional and international issues of mutual concern, following a three-day visit to the Sultanate of Oman. Al-Sisi …

Mohamed Samir

Ahmed Bahgat to complete final reconciliation with government

Ahmed Bahgat, chairperson of the board of directors of Bahgat Group, announced the completion of procedures for reconciliation with both the Egyptian government and banks in the country within the next few weeks, according to a Wednesday press statement from his representatives. The statement indicates that the current negotiations with the government will lead to …

Mohamed Samir

$10m loan to finance MSMEs from SANAD in partnership with Banque du Caire

The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egypt’s sixth largest bank, with its status as …

Mohamed Samir

Sharm, Hurghada hotels maintain touristic hotspot status; 84%, 72% forecasted growth respectively: Colliers

Sharm El-Sheikh and Hurghada hotels continued to grow from their low performance in the first quarter of 2017, and maintained their status as touristic hotspots with a forecasted growth of 84% and 72% respectively in revenues per available rooms (RevPAR), according to Colliers International’s The MENA Hotel Forecast January 2018 report. The witnessed rebound is …

Mohamed Samir

Egypt to receive final $500m tranche of AfDB loan 

Egypt signed on Sunday an agreement to receive the third and final $500m portion of its $1.5bn African Development Bank (AfDB) loan. The agreement was signed between Minister of Investment and International Cooperation Sahar Nasr and Malinne Blomberg, the AfDB’s country manager for Egypt. The AfDB loan aims to finance Egypt’s comprehensive structural reform programme. …

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