Egypt looks for opportunities in Al-Sisi’s visit to US
The visit will benefit both countries’ relations, but there might be some conflicts regarding regional policies, says Hassan Nafaa
Mohamed Samir
636 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.
Latest by Mohamed Samir
Investments of 646bn targeted for FY 2017/18, 55% coming from private sector: El-Garhy
EGP 2.2bn of value-added tax revenue on cigarettes were allocated to health insurance
“Egypt” entrepreneurship company to be established with aim of helping small investors
The joint contribution will include the Ministry of Investment and International Cooperation, the SFD, and NI Capital, with EGP 451mn of investments
The Egyptian real estate market: a future between skyrocketing prices and fear of recession
Daily News Egypt has obtained data from Aqarmap, the real estate search engine, regarding land prices in Greater Cairo
Will Al-Sisi’s visit write a new chapter in Egyptian-American relations?
A special relationship between Egypt and the United States has been established in the wake of the 1973 war, as a result of late Egyptian president Anwar Al-Sadat’s decision to gradually shift from the Soviet camp, sign the 1979 Camp David peace treaty with Israel, and establish stronger ties with Washington in return for various …
Norway in top spot, Central African Republic last in World Happiness ReportÂ
Egypt took the 104th spot globally and 9th in Africa
Egyptian exports to UAE and Turkey increased by 19% in 2016 while imports declined
$1.5bn surplus in trade balance between Egypt and the UAE was achieved in 2016
Amazon to acquire UAE-based e-commerce platform souq.com Â
Souq currently controls around 78% of all e-commerce in the MENA region
MOU signed between Egypt and Poland to boost economic cooperation
Plans to establish an Egyptian-Polish Chamber of Commerce to promote bilateral trade
IMF delegation to review Egypt starting April 28: El-Garhy
IMF to complete their review of the programme in June this year, before releasing the 2nd trancheÂ
Cairo hotel revenues to drop: Colliers International
Although Cairo occupancy rates are forecast to be healthy, a pronounced drop in hotel revenues per available room (RevPAR) is expected as a result of the devaluation of the Egyptian currency in November, according to Colliers International’s “The MENA Hotel Forecasts” February report.
FX is not only indicator for assessing economy: Arqam Capital
Most of the foreign exchange (FX) flows to banks are being directed to alleviating longstanding pressure on the corporate and household sectors to spur economic activity and reduce inflationary pressures, while meeting the demands of foreign companies and investors for repatriation. According to Arqam Capital’s report “The Devil in the FX” published in February, the …
El-Garhy meeting with IMF in London to review Egypt’s economic performance
Proposed stamp duty to be reviewed by the Economic Affairs Committee within two weeks
Minister of Finance issues VAT bylawsÂ
The bylaws will provide tax refunds for exported goods and services
2017 poised to tough for Egyptian consumers: Arqaam CapitalÂ
Inflation to reach 20-25% in FY17, driven by fuel subsidy cuts and increase in VAT rate
Egypt rebalancing continues, yet challenging year lies ahead: Fitch
“The rising levels of foreign exchange (FX) reserves, a return of private capital inflows, and appreciation of currency, marks the progress in Egypt’s gradual external rebalancing in early 2017. Further fiscal consolidation in addition to external rebalancing would lay the groundwork for a broader-based improvement in sovereign credit metrics in 2018,” said Fitch Ratings in …
World Bank delegation to visit CairoÂ
A high-level delegation from the World Bank is scheduled to visit Egypt within the next two weeks to review the regulations undertaken by the government to enhance Egypt’s business environment and activities. The review will then be published in the World Bank’s “Doing Business” annual report, said Minister of Investment and International Cooperation Sahar Nasr …
Currency flotation is paying off as foreign flows drive foreign-exchange stabilisation: EFG Hermes
Squeezed by turbulence and uncertainty since 2011, Egypt’s economy encountered numerous challenges, such as the prolonged political transition that led to the build-up of macroeconomic imbalances. The government decided to adopt an economic reform programme—backed by the International Monetary Fund (IMF)—which included the introduction of the value-added tax (VAT) law, the reduction of fuel subsidies, …
AmCham MENA Regional Council’s annual forum to launch in March
AmCham MENA is advocating for a more friendly business environment to support SMEs growth, according to regional secretariat of the AmCham MENA Council
EGP exchange rate against USD remains stable
Settles below EGP 16 for first time since December 2016
Flotation, economic reforms mark the start of a new beginning: PwC Middle East
New wave of economic reforms, liberalisation of EGP are huge leap towards luring foreign investors back to Egypt and strengthening economy, says PwC report
Suez Canal revenues decline in wake of sluggish global trade
Global trade volume needs to rise by 9% a year for Egypt to gain its return on investment (ROI) for the New Suez CanalÂ
Heliopolis Company for Housing and Development signs “Grenada” renovation contract with Arab Contractors
Sales of Heliopolis Company for Housing and Development decreased by 20-25% since flotation
Egypt becoming an energy superpower, UK being its top oil and gas partner
Egypt has successfully restored foreign investors’ confidence in the economy, says UAE’s minister of state and CEO of ADNOC
France’s ambassador to Egypt calls for French oil and gas companies to take advantage of Egypt’s investment opportunities
It’s a historic time for Egypt, as new natural gas explorations will bring self sufficiency to the country, Marc Benayoun, CEO Edison
Egyptian economy is gaining momentum: Bank of America Merrill Lynch
With the trade in Egyptian Treasury bills (T-bills) gaining ground, the witnessed drop in T-bill yields at auctions is an indication of the increasing foreign investor participation and is providing support to the USD/EGP trade with a better tone, according to Bank of America Merrill Lynch’s February insight report. The report cites the unofficial announcement …
New “Shared Development” HR model may be the answer to the challenges in the wake of economic downturn
Throughout history, despite the evolution of society, the foundations of the economy remained unchanged. In the era of agriculture, the economy was based on fertile lands. During the industrial era, it was based on production; and, now, in what we can call the era of informatics, the foundation consists of communications, information, and computer technology. …
Egypt continues to suffer from consequences of currency flotation: Focus Economics
Focus Economics forecasts an average inflation of 20.1%, 13.6% for calendar years of 2017 and 2018 respectively
The Egyptian Exchange approves Banque du Caire shares listing in EGX
The Egyptian Exchange (EGX) has announced their acceptance of Banque du Caire’s application to list its shares in the EGX with a capital of EGP 2.25bn, distributed over 562.5m shares with a nominal value of EGP 4 per share in a statement on Wednesday. Tarek Amer, governor of the Central Bank of Egypt (CBE) has …
International reserves reach $26.363bn in January, increase by $2.1bnÂ
The Central Bank of Egypt has announced on Sunday that Egypt’s international reserves reached $26.363bn in January, marking an increase of almost $2.1bn from December 2016’s value of $24.265bn. Since 2011, Egypt’s foreign currency reserves have been constantly drained at unsustainable rates to prevent currency devaluation. By October 2016, foreign reserves had dropped to $19bn …