Iraq to start exporting 1m oil barrels a month to Egypt: Iraqi ambassador to Cairo
Egyptian companies to contribute to reconstruction process after expelling IS
Mohamed Samir
594 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.
Latest by Mohamed Samir
Was the government ready for the flotation’s consequences?
Squeezed by economic and political turmoil following the 25 January Revolution that toppled former president Hosni Mubarak, Egyptians are now facing a new era of hardship and austerity. The government’s adopted economic reform programme, backed by the International Monetary Fund (IMF), included the flotation of the Egyptian pound, subsidy cuts, high interest rates, and the …
IMF deal eases Egypt’s market pressure along with other frontier markets: Fitch Ratings
IMF support has played an important role in reducing external liquidity risks, medium-term default risks in Egypt, and several frontier markets that entered into new programmes in 2016, according to a Fitch Ratings press release on Friday. However, the press release indicates that each country’s compliance with IMF conditions will decide the potential improvement in …
Obour Land achieves total sales worth EGP 1.45bn in FY 2016
Total sales for the FY 2016 registered EGP 1.45bn
We will implement job rotation policies within the state administrative body: Minister of Planning
New employees will be hired through employment competitions that will be advertised twice a year
Al-Sisi asks citizens to endure 6 months of hardship
On Wednesday during the opening of the National Project for Fish Farming in the Suez Canal area in Ismailia, President Abdel Fattah Al-Sisi called on Egyptians to endure the economic hardships resulting from governmental reforms for the next six months. During his speech, he reasserted the state’s commitment to its economic reforms, and promised citizens …
The dilemma of Egypt’s public wages from Abdel Nasser to Al-Sisi
Reforming the public sector and reducing its wages are some of the key elements of the economic reform programme adopted by the Egyptian government, and blessed by the International Monetary Fund (IMF). Yet, according to a study by the Egyptian Center for Economic and Social Rights titled “Changes in the Public Sector Wage Policies …
Could the visit of Libya’s National Oil Corporation chairperson to Cairo solve Egypt’s oil imports challenge?
On Wednesday, the chairperson of Libya’s National Oil Corporation (NOC) visited Cairo to meet with Minister of Petroleum Tarek El Molla to discuss mutual cooperation opportunities between the two countries in the oil and gas sector. The visit comes after the announcement of new gains in Libya’s oil production this week. Despite Egypt’s abundance …
Minister of Investment issues executive regulations for movable collateral law
Regulating the registration of movable collateral for the first time in Egypt reduces lending and financing risks, says Dalia Khorsid
Banque Misr signs new cooperation protocol to finance leather tanneries
Governmental incentives will be provided to the first 10 tanneries moving to Rubeiky city, says trade minister
CBE’s new mobile banking regulation will create new business opportunities for Egyptian banks: Moody’s
There are significant growth opportunities for mobile banking in Egypt
Egypt, Word Bank sign agreement for 2nd tranche of the $3bn loan
The loan will be put towards funding social safety net programmes and promoting small- and medium-sized enterprises
Etisalat Egypt signs partnership agreement with Prime Pharma to treat Hepatitis C
Etisalat Egypt will sponsor the treatment of 1,200 Egyptian Hepatitis C patients in 2017
Egypt’s long-term trade outlook positive despite current challenges: HSBC Egypt Trade report
China, India, and Bangladesh projected to be fastest growing export markets in 2021-2030
We see enormous investment opportunities in Egypt: EAEF chairperson
When our fund is liquidated in 10 years, the profits will be shared with the Egyptians in a legacy foundation that could be invested in hospitals and education, says Harmon
Government proposes new draft law liberalising the natural gas sector
Despite efforts to liberalise the natural gas sector dating back to the 1990s, the market is still currently far from liberalised, say experts
Egypt Automotive Summit urges implementation of industry strategy
This year’s summit began with a moment of silence for the victim’s of Sunday’s Coptic church attack
New customs, tax laws to resolve issues within automotive sector
The industry development sovereign fund gives incentives to the local product before sale and export in order to see a return on the taxes they paid, said Egyptian Tax Authority head Abdel Moneim Matar. The Tax Authority used to collect 30% of the value of a used car, but in the automotive industry strategy it …
Ministers, business community review means to stimulate local automotive industry in opening session of Egypt Automotive Summit
The executive director of the third round of the Egypt Automotive Summit, Mohamed Aboul-Fotouh, announced several topics which participants will be discussing. Topics on the agenda at the summit include facilitating the export of spare parts, competition with foreign companies, local feeding industry experiments, and the role of banks in financing feeder industry experiments. “We …
AccorHotels announces 4 new hotel projects in North Coast
14 new hotels to be developed within the next five years, says AccorHotels senior vice president for Europe, Middle East, Africa
Dabaa nuclear power plant agreement to be concluded by end of 2016: Rosatom CEO
The deal has raised environmental and safety concerns
Egyptian youth rank the economic situation as top challenge facing the country: UNDP
In Egypt, the top 1% of rich households strongly influence inequality, according to recent World Bank estimates
Judicial Committee reaches settlement agreement with Mubarak-era trade minister
EFSA concludes that all allegations against Rachid Mohamed Rachid in the illicit gains case are baseless
IMF-backed reform programme is Egypt’s best shot but poses high potential risk: FocusEconomics
November was a month of interesting developments for Egypt, from the Central Bank of Egypt’s (CBE) decision to float the national currency, to the International Monetary Fund’s (IMF) approval of the $12bn loan, a correction of external balances, and an expected soaring fiscal deficit. According to FocusEconomics Consensus Forecast for the Middle East and North …
ARCO to launch next phase of Citystars Al Sahel at cost of EGP 4bn
Al Arabia Real Estate (ARCO) will soon be launching a new phase in its Citystars Al Sahel project in the Fouka area of Ras El Hekma, with an estimated cost of EGP 4bn, according to the executive manager Ayman Ibrahim. The new phase will be announced in December, and will be sponsored by an international …
BP buys 10% of Eni’s massive Zohr gas field
The two companies agreed that BP could purchase another 5% before the end of 2017
ARCO launches 5 projects, new sales centre in Citystars Cairo
ARCO’s new showroom is located in Citystars Cairo and will feature interactive tables and an interactive screen where you can view all the projects
ARCO targets sales worth EGP 38bn over 8 years: executive manager
The prices of real estate units are expected to increase by 20-30%, says ARCO’s managing director
US dollar exchange rate against Egyptian pound continues to rise at banks, CBE on Thursday
Prior to the CBE’s decision to float the currency on 3 November, the price of the dollar was set at EGP 8.83
Egyptian products to be sold in 275 outlets in Iraq’s Kurdistan: Industry and Foreign Trade Ministry
Egyptian companies will showcase their products for free for the first two years