Mohamed Samir

586 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


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). …

Mohamed Samir

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 …

Mohamed Samir

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 …

Mohamed Samir

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 …

Mohamed Samir

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 …

Mohamed Samir

Egypt to establish farm in Zambia: Egyptian ambassador to Zambia

Zambia and Egypt are planning to sign a memorandum of understanding (MoU) for the development of a 2,381-feddan joint farm project, an Egyptian official said on Friday, according to China’s state-run Xinhua news agency. “This new giant farm will enable both parties to bring their cooperation to new horizons,” Egypt’s ambassador to Zambia, Ahmed Mostafa, …

Mohamed Samir

Al-Sisi meets UAE delegation, agrees on enhancing bilateral relations, exchanging innovative administrative experience

President Abdel Fattah Al-Sisi met a ministerial delegation from the United Arab Emirates (UAE) on Wednesday. The two sides agreed on enhancing bilateral relations, focusing on exchanging innovative experiences, to develop governmental institutions. The UAE delegation included Mohammed bin Abdullah Al Gergawi, minister of cabinet affairs and the future, Ohood bint Khalfan Al Roumi, minister …

Mohamed Samir

Madbouly’s new economic portfolio ministers: Who’s who?

The cabinet of Mostafa Madbouly was sworn on before President Abdel Fattah Al-Sisi Thursday to serve as Egypt’s new government. The core economic group of Egypt’s cabinet consists of the Ministries of Finance, Public Sector Affairs, Investment, and Industry. Ministers of other economy-related portfolios, such as trade, tourism, and petroleum, were announced. Mohamed Moeit, was …

Mohamed Samir

Brazil has highest probability of winning World Cup: Goldman Sachs

Brazil will win its sixth World Cup title, defeating Germany in the final on July 15, according to the The World Cup and Economics report issued by the Goldman Sachs Group on Tuesday. “When Lionel Messi observed that ‘in football…talent and elegance mean nothing without rigor and precision,’ he was clearly thinking as much about …

Mohamed Samir

Macroeconomic picture improves, yet progress needs to be made on unemployment, closing housing gap, financial inclusion: OBG Egypt director

Throughout the past three years, Egypt has been through tough but necessary economic reforms, undertaken by the authorities and supported by the International Monetary Fund (IMF). The reforms aim to improve Egypt’s public finances, curb the budget deficit, and get the currency shortage under control, all while achieving sustainable growth. The economic reforms came after …

Mohamed Samir

Egyptian economy in good shape as FY 2018 ends: FocusEconomics

Egypt’s economy seems in good shape as annual economic growth accelerated in the January-March period to reach a multi-year high. Additionally, in May, foreign reserves hit a record monthly high and, in April, business conditions in the non-oil private sector were in positive territory for only the second time in over two years, according to …

Mohamed Samir

Egypt PMI back to contraction in May: Emirates NBD

Egypt’s non-oil private sector activity continued to shrink in May to reach 49.2 points, down from 50.1 points in April. Nonetheless, the Purchasing Managers’ Index (PMI) score for May remained well above the long-term average, according to the latest Emirates NBD Egypt Purchasing Managers’ Index survey, published on Tuesday. However, according to the survey, there …

Mohamed Samir