Mohamed Samir

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Latest by Mohamed Samir


Crude oil slump, as Trump threatens further China tariffs

Oil prices slumped, on Monday, with Brent crude futures recording $69.78 per barrel, down $1.07, following the United States President Donald Trump’s announcement that he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the two largest economies. On Sunday, Trump wrote on Twitter account that, “For 10 …

Mohamed Samir

Egypt warns Turkey against drilling in Cyprus’ economic zone

Egypt warned against intentions of Turkey to begin drilling activities in a maritime area west of Cyprus, according to a Saturday statement issued by Egypt’s Ministry of Foreign Affairs. The statement added that Egypt is following the development, warning against the effects of any unilateral actions on security and stability in the Eastern Mediterranean region. …

Mohamed Samir

Huawei to test 5G network in Cairo during AFCON 2019

Huawei Technologies Company is to launch first 5G network services trial in Egypt at the Cairo International Stadium during the period of hosting the 2019 Africa Cup of Nations (AFCON), Minister of Communication and Information Technology, Amr Talaat, said on Sunday. This came on the sidelines of a meeting between Egyptian Prime Minister, Mostafa Madbouly, Huawei’s …

Mohamed Samir

Egypt targets 6% GDP growth in FY 2019/20: Minister of Finance

Egypt’s fiscal policy aims to raise the GDP growth rate to 6% in the next fiscal year (FY) 2019/20, after the recent increase of 5.5%, Minister of Finance Mohamed Moeit said on Saturday. Moiet explained that the economic reforms implemented since 2016 allowed the country to overcome various economic difficulties, and set the national economy …

Mohamed Samir

Egypt imposes temporary 15% import tariff on iron billets, 25% on steel rebar

Egypt’s Finance Ministry has imposed, on Monday, a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days. The ministry announced that the tariff aims to protect Egypt’s domestic iron and steel industry against dumping, and unfair competition. Local steel manufacturers have been calling on the government to …

Mohamed Samir

Al-Sisi receives Haftar, vows support to LNA’s counterterrorism operations

President Abdel Fattah Al-Sisi met with the Commander of the Libyan National Army (LNA), Khalifa Haftar, where he asserted Egypt’s support for Libya’s ongoing onslaught in Tripoli. Forces affiliated with Haftar have engaged in violent clashes with militants in the outskirts of Tripoli since last week. According to a statement from the Egyptian presidency, the …

Mohamed Samir