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

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

International Monetary Fund IMF

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

8,625 acres of agricultural land illegally reclaimed in Egypt

According to a report issued by the Ministry of Agriculture and Land Reclamation, the total illegal agricultural land reclaimed was 8,625 acres in all governorates from 25 January 2011 until 3 December 2017, with the number of illegal agricultural land reclamation cases registered at 189,753. The government succeeded in reclaiming only 2,398 acres of the …

Mohamed Samir

$334bn total market cap of cryptocurrencies following Bitcoin surge

The total market capitalisation of all cryptocurrencies currently in circulation reached a record high of $334.5bn on Saturday, according to data from industry website CoinMarketCap, as a result of the recent Bitcoin price hike. A total of 16 coins are currently valued at $1bn or more, and around 13 coins are coming in at over …

Mohamed Samir

The Prosecutor General Tala’at Abdallah announced on Tuesday that he has asked the Office of International Cooperation to prepare a memorandum asking Interpol to arrest former presidential candidate Ahmed Shafiq. (AFP/File, Mohammed Abed)

Ahmed Shafiq announces bid for 2018 election: Reuters

Ahmed Shafiq, the last prime minister under deposed president Hosni Mubarak and a 2012 presidential candidate, announced that he intends to run for Egypt’s 2018 presidential election and that he will be returning to Egypt “in the next few days”, Reuters reported on Wednesday. Shafiq said in a video declaration sent to Reuters and a …

Mohamed Samir

1,055 terrorist attacks took place in 2017, resulting in 6,123 fatalities 

The death toll from global terrorism-related attacks accounted for approximately 6,123 fatalities in 2017, including the Friday Rawda mosque attack in Egypt, according to data from the “terrorist attacks map”, a collaboration between the Esri Story Maps team and PeaceTech Lab, made to present a chronology of terrorist attacks around the globe. However, despite the …

Mohamed Samir