Latest in Tag: Economy Highlight
Latest in Tag: Economy
Cars prices in Egypt grow amid consumer frustration
Car experts blame high US dollar exchange rates and popular demand for fuel saving cars for increase
Informal sector volume records around EGP 1.5tn: ECES
Government lost EGP 300bn in potential taxes, according to study
National Bank of Egypt hopes to open 200 new branches within 3 years
EGP 150m total savings for bank clients with platinum certificates
Shoukry calls on Spanish counterpart to participate in Egypt’s conference to support economy
Shoukry meets with Spanish FM to discuss bilateral relations during ministerial conference in Madrid
Despite difficult challenges, Egypt has a considerable economic upside
By Mohamed A. El-Erian Already struggling to meet citizens’ legitimate needs and aspirations, the Egyptian economy has suffered a series of additional setbacks in recent years. So much so that, for the first time in many years, the population has had to cope with power cuts, shortages of goods, and partial controls on foreign exchange. …
More private sector influence good for economy: Al-Suwaidi
The Egyptian economy is currently facing many challenges in light of the growing budget deficit, the energy crisis, and the decline in domestic and foreign investments
Euromoney Conference: Egypt’s economic summit under the microscope
The business and financial community awaits the Egyptian government’s economic plans to be revealed during the Sharm El-Sheikh summit to be held at the end of 2014 or early 2015. The plans are expected to involve procedures correcting Egypt’s economic path amid the government’s efforts to restore international and local market in the economy. Egypt’s …
New council must determine economic roadmap: CIB managing director
The council must be independent and serve an advisory purpose, Hisham Ezz Al-Arab says
Minister of Planning looks ahead to Egypt’s Economic Summit in February 2015
The government will announce a clear strategy for 2030 in Egypt’s upcoming Economic Summit next February
Businessmen want Wealth Tax to be paid in kind; government wants cash payment
Investors fear the government will direct proceeds of Wealth Tax to balance the budget deficit without focusing on development projects
Al-Sisi, Putin seek stronger ties in Sochi
Russian and Egyptian presidents look to coordinate on international issues
Al-Sisi set for Russia visit
The Egypt State Information Service says Al-Sisi responded to Putin’s invitation and will pay a short visit to Russia Tuesday
Egypt drafting law to protect facilities, criminalises attacks on water and electricity: PM
Government drafts document obliging Toshka development companies to finish within 3 years or face land withdrawal
Migrants: A treasure for Egypt
By Omar Khedr For its 2014 forecasts, the World Bank predicts that Egypt’s economy will grow by 2.4% followed by a further 2.9% expansion in 2015. Endowed with a young population, Egypt has a strong potential to kickstart its economic development programme. In fact, Goldman Sachs – one of the largest investment banks in the …
US confirms support for Egypt’s economic reform programme
Government seeks to restore the confidence of international markets in Egyptian economy and gain support for economic reform programme
Egyptian government presents trade, technology projects to India
Government conducts broad international talks to revive confidence in Egyptian economy threatened by political turmoil
Misunderstanding Africa
By Robert Tashima Gold, oil, timber, cocoa: these four words could sum up the essence of African economic development over the 20th century. Investors dug mines, brought in derricks, and chopped down trees, but with few exceptions that was largely it. The impact of this was significant. Per capita GDP declined in the 1980s, …
Returns on treasury bills rise, negative impact on economic growth expected
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
Ministers of Agriculture, Industry to discuss needs of spinning, weaving companies
Government moves to save the textile industry in view of governmental failure to recognise huge losses incurred
Culture of cooperation and common goals key to Germany’s victory: WEF
By Evline Meshreky A blog published by the World Economic Forum (Davos) attributed Germany’s success in football as well as economically to sustaining a culture of cooperation and common goals, and long-term policies to support those goals. The article relates the young average age in the German football team, 26.31, as opposed to 28.92 in …
Committee to curb international arbitration against Egypt: PM
Government seeking to settle some 22 investment disputes against Egypt pending before international arbitration “amicably” in order to avoid fines estimated at $20bn
Subsidy cuts a ‘very important step’: EU ambassador
EU ambassador to Egypt welcomes reduction of subsidies on petroleum products
‘Catastrophic’ it is!
Amnesty International said last week that Egypt is witnessing a “catastrophic” decline in human rights. Indeed, human rights conditions in Egypt are currently a disaster, but the “catastrophe” Egyptians are witnessing these days is all-encompassing. On Friday, the government announced an increase in fuel prices – a step every government has struggled to take and …
Tax revenues to increase 1.6% in 2014/2015 fiscal year: Finance minister
Ministry of Finance expects tax revenue increases of EGP 6bn or 1.6% due to amendments to real estate and income tax laws, as well as new taxes on stock dividends and distributions
Backlash against petroleum subsidy cuts as experts cite concern of effects on middle class
Cash support for poor may act as safety net, but biggest danger lies in creating new poor by cutting energy subsidies, says professor of socioeconomics Hania Al-Shalkamy
Economic success can be achieved in 2 years, with ‘sacrifice’ by Egyptian people: Al-Sisi
On the first anniversary of the 30 June uprising, the newly appointed president discusses state of economy, pledges to “correct religious discourse”
Lantern prices increase 20%, Chinese products infiltrate market
Ramadan lantern prices increased this Ramadan over last year due to a price increase in raw materials and exchange rate
Understanding formalisation and its benefits – for all Egyptians
Office of Peruvian economist Hernando de Soto responds to Egyptian op-ed, defends benefits of formalisation in developing economies like Egypt
Government tasked to apply maximum wage: Mehleb
Upcoming state budget seeks to apply financial and economic reforms
Meet the cabinet’s economic team
With the swearing in of the new government, Daily News Egypt reintroduces the cabinet’s returning economic team and profiles the newly appointed ministers, discussing the main agenda and challenges they will have to tackle.