648 Articles
Mohamed Samir is an economic and political journalist, and analyst specialising in geopolitical conflicts in the Middle East, Africa and the Eastern Mediterranean. Over the past decade, he covered Egypt's and the MENA region's financial, business, and geopolitical updates. He is currently the Executive Editor of the Daily News 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 …
Two monorails are to be established in Egypt, one to link the New Administrative Capital with East Cairo and downtown at 52 kilometres in length, and the other to link Sixth of October City with Giza at 35 kilometres in length, acting Prime Minister and Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly revealed …
The Swiss Federal Council announced that it will end the freeze on the remaining $436m of frozen Egyptian assets, in a press statement on Wednesday. However, they extended the freeze on both Tunisian and Ukrainian assets. The Swiss Federal Council had frozen both Egyptian and Tunisian assets in the wake of the 2011 Arab spring …
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 …
Tourism recovery will lead to US beef exports to Egypt
No one can control Libya’s oil field except GNA, Libyan army, says Hamad
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 …
Uber celebrated four years in Africa in 2017, surviving violent protests, policy disputes, and price wars since the company first launched in the continent in 2013. Along the way, Uber has created tens of thousands of driver jobs and enlisted 1.8 million active riders in Africa. To become Africa’s most successful ride sharing application, Uber …
SACE aims to see African companies penetrate African, Chinese markets in 5 years
Egypt is base of African movement, matchmaking centre for private sector, says foreign ministry
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 …
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 …
The customs exchange rate for US dollars is set to remain at EGP 16 in December, said the Ministry of Finance in a press statement on Wednesday. The ministry said earlier today that the decision to stabilise the customs dollar rate is consistent with the continued strategy and stability of the currency exchange rate in …
The transaction is the bank’s second ECM, and the fifth closing in 2017
Development, creating jobs are solution for terrorism, says Elsewedy
Perfect time to be present in Egyptian market due to positive developments in economy, investments, says Al Omian
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 …
The French multinational manufacturer of automobiles Groupe PSA announced that they are currently finalising the conditions of their partnership with Mansour Group, to be operational by early 2018 for the benefit of Egyptian customers. In May 2017, Groupe PSA, which manufactures automobiles and motorcycles sold under the Peugeot, Citroën, DS, and Opel brands, launched an …
Minister of Planning Hala Al-Saeed announced, at a Wednesday press conference, that Egypt’s gross domestic product (GDP) growth registered 5.2% in the first quarter (Q1) of fiscal year (FY) 2017/18. Al-Saeed explained that GDP is on a growth path due to the fact that an approximately 3% increase in investment inflows was achieved during the …
Agreement will improve issuing tickets, reduce metro station operational costs
Black Friday, which is the day immediately following Thanksgiving in the United States, has become synonymous with rampant shopping, becoming an essential part of media, economic, and cultural calendars. Although there is a cultural basis for Black Friday in the United States, the concept has been embraced globally, especially after the rise of e-commerce over …
The Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed that Egypt’s total exports to the Gulf countries during the period from January to August 2017 was worth $3.5bn. On the other hand, the total value of exports to those countries during the same period last year was $3.4bn. CAPMAS’ latest foreign trade report, for …
France isn’t offering a political exile, said Macron
There is no place better than the Sinai’s Nuweiba, where you can capture the real essence of the desert: waking at sunrise, just moments before the sun peaks over the mountains, and diving into the water just as the sun rises amidst the clouds. When the night comes, people start gathering from nearby villages to …
Egypt’s GDP growth reached 4.2% in FY 2016/17, compared to 3.5% forecasted
Egypt’s general government fiscal deficit to decrease to 8.2% of GDP by FY 2020, S&P forecast
The number of Egyptian families that are headed and supported by women has registered at 34%, accounting for around 8m families, according the National Centre for Social and Criminological Research. On the other hand, census data that was published by the Central Agency for Public Mobilisation and Statistics (CAPMAS) estimates the number of families headed …
Flotation improved Egypt’s FX reserves, exports, and FDI, yet inflation remains a challenge
71 companies owned by the ministry have witnessed an improvement in performance
This is the region’s best annual start since 1980, said the managing director of MENA Thomson Reuters
