Al-Sisi, Di Maio agree on enhancing bilateral cooperation, fighting illegal immigration, concluding Reggini’s investigation
Italy keen to cooperate with Egypt in field of renewable energy, says Italian deputy prime minister
Mohamed Samir
577 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
Microfinance activities in Egypt grow by 76% to reach EGP 9.75bn in Q2 2018: Omran
Egypt’s microfinance activities continued to grow to reach EGP 9.75bn by the end of the second quarter (Q2) of 2018, marking a 76% increase compared to EGP 5.5bn in the same period last year, Egyptian Financial Regulatory Authority (FRA) Chairperson Mohammed Omran announced on Tuesday. Omran added that the growth was accompanied by an increase …
Egyptian police kill five suspected militants in Sohag
In November 2017, President Al-Sisi vowed to restore stability by eradicating terrorism
Egypt extends fish exports tariff for one year
In April 2017, the ministry had imposed EGP 12,000 per tonne tariff following a hike in fish exports
Apache to invest $1bn annually in Egypt: Tarek El-Molla
Apache investments in Egypt exceed $12bn in 23 concession areas, including 20 production regions
Al-Sisi ratifies cybercrime law regulating web content, ISP surveillance
Law includes 29 penalties from three months to five years prison sentences, fines up to EGP 20m
Robust GDP growth in Egypt with 5.4% estimated in FY 2017/18, debt remain a problem: AfDB
Total infrastructure investment forecast for Egypt to 2040 is $444bn
African Leaders Hold Summit for a Conflict-free Africa
In celebration 100th anniversary of the births of former South African President Nelson Mandela and the human rights activist Albertina Sisulu, on 10 August the 2018 African Leaders of Peace Summit was held at Hilton Hotel in Gauteng, Johannesburg, South Africa to discuss ways to achieve an Africa free of conflict. The summit was co-hosted …
Privatisation always been on state’s agenda, good step, with maintaining free-market balance: Al-Sisi
Subsidies will not be cancelled, to maintain social balance during difficult economic conditions
Sharm El-Sheikh, Hurghada occupancy grows over 30% in Q2 2018: Colliers
Supply rise by 9% in KSA, 3% in UAE, 2.1% in Egypt in same period
64% increase in Orascom Development Egypt earnings, Talaat Moustafa Group sales expands by 1030% in Q2 2018
Celia main driver behind TMGH sales boom, Gouna occupancy, Makadi project boosted ODE’s performance, says Beltone
Lavrov hints Idlib offensive with Russia’s blessing
Ceasefires will not include terror groups such as Nusra Front, says, Russian foreign minister
Egypt has six months worth of sugar reserves: minister of supply
Egypt has sufficient strategic sugar reserves equivalent to six months of consumption, Minister of Supply Aly Moselhy said on Monday. However, the minister did not specify the exact amount of these reserves. Last week, Egypt cancelled a tariff imposed last year on sugar exports, the Ministry of Trade and Industry said in a statement received …
Business tycoon Ahmed Ezz cleared of money laundering case
Prosecution had charged Ezz with laundering of EGP 6.5bn, through peddling, squandering of public finances
Egypt PMI rise in July to eight-month high of 50.3: Emirates NBD
Stronger GDP growth in 2018/19 supported by monetary policy normalisation, political stability, tourism recovery
30% of Abu Qir Fertilisers to be offered on EGX: Tarek El-Molla
Minister of Petroleum Tarek El-Molla announced on Friday that 30% of Abu Qir Fertilisers (ABUK) shares will be offered on the Egyptian stock exchange (EGX).
Fitch affirms Egypt’s positive outlook, B rating
Public finances remain Achilles heel of Egypt’s credit profile, yet Fitch estimates debt/GDP to drop to 88% in FY 2019
Egypt is committed to inclusion of people with disabilities, aspires to become regional assistive technology hub: Al-Sisi
President Abdel Fattah Al-Sisi said that what Egypt is witnessing today is a shining picture of the use of ICT tools to remove obstacles standing in the way of people with disabilities. This came during his speech in the seventh annual Cairo Information Technology Convergence and Services for People with Disabilities Conference on Monday. “The …
Zohr gas field production to reach 2bn cubic feet per day by September: Eni
Egypt to reach self-sufficiency by year’s end, says El-Molla
Lightsource BP enters solar energy joint venture with Hassan Allam
Exciting potential in Egypt following country’s economic recovery says CEO, founder of Lightsource BP
Islamic State local leader killed in Sinai
One of the local leaders of the of the Islamic State (IS) militant group in Egypt’s Sinai Peninsula was killed, according to the militant group’s Amaq news agency announcement late on Sunday. The group identified the leader as Abu Jaafar Al-Maqdesi, without mentioning any further details about the location or circumstances of his death. Since …
Cairo tops Africa’s cities in terms of FDI attraction in UN-Habitat report
Egypt’s capital Cairo held the first place in Africa in terms of volume of foreign direct investments (FDI) attracted, followed by South Africa’s Johannesburg in second place, then Morocco’s Tangier in third, Nigeria’s Lagos as fourth, and Morocco’s Casablanca ranked as fifth, according to the latest report issued by United Nations Human Settlements Programme, (UN-Habitat). …
Minister of finance sets the price of tobacco products
Foreign tobacco companies are reportedly dissatisfied with tax
Ministry of Antiquities uncovers mummification workshop at Saqqara necropolis
Minister of Antiquities Khaled El-Enany uncovered a new discovery south of Cairo dating back more than 2,500 years at the Saqqara necropolis in Memphis, the first capital of ancient Egypt. The discovery included a mummification workshop and has several burial chambers dating to the Saite-Persian Period (664-404 BC), found during excavation work carried out by …
All investigated transactions are correct, allegations are unfounded: CIB
The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules. Moreover, according to the statement, all objected transactions were examined and found correct, and …
Suspected embezzlement case at CIB
The bank released a statement stating that they received a complaint, are currently investigating
Hurghada, Muscat selected as touristic hotspots with 13%, 8% forecasted growth respectively: Colliers
Hotels in Egypt’s Hurghada and Oman’s Muscat were named touristic hotspots by Colliers International, with a forecasted growth of 13% and 8%, respectively, in revenue per available room (RevPAR), according to Colliers’ MENA Hotel Forecast June 2018 report. The witnessed growth in Hurghada hotels’ RevPAR was boosted by the continuation of a positive perception and …
Nasr negotiates with WB to expedite $500m social housing fund
Reports emerge that Egypt requests $2bn from WB
Inflation rises to 14.4% in June in line with expectations
Egypt’s annual inflation rate rose significantly in June to 14.4%, increasing from 11.4% in May, the Central Bank of Egypt (CBE) announced on Tuesday. The increase was due to a rise in food prices by 10% compared to an increase of 8.6% in May, in addition to the 55% hike in transportation sector on the …
41.2% increase in remittances from expatriate Egyptians in April 2018
Total remittances reach a record level of $26bn from July 2017 to April 2018