Latest in Tag: Economy Highlight
Latest in Tag: Economy
Final composition of government to be announced this evening: Abdel Nour
Ministry of Investment to be separated from the Ministry of Industry and Trade, the minister noted.
Addressing bureaucracy, administrative corruption necessary for economic reform: Experts
Bureaucracy, complicated investment legislation, and administration corruption are the main stumbling blocks to economic reform, several heads of banks said during the People and Banks Conference last Wednesday. Participants in the conference discussed how to work to restore investor confidence in the Egyptian market in order to transform it into a magnet for Arab and …
China state media calls for ‘severe punishment’ for Google, Apple, US tech firms
US companies such as Yahoo Inc, Cisco Systems Inc, Microsoft Corp and Facebook Inc threaten the cyber-security of China and its Internet users, said the People’s Daily on its microblog, in comments echoed on the front page of the English-language China Daily.
Mansour’s presidential decrees, and their mark on Egypt’s economic landscape
Mansour issued a decree amending the Investment Law, prohibiting third parties from challenging contracts between the government and investors.
Domestic public debt rises to 83.3% of GDP in first quarter of 2014: CBE
Central bank reports estimates net external debt rose by 5.8%, as a result of increased borrowing and higher exchange rates against the dollar
Informal system is a ‘structural defect’ of Egypt’s economy: Al-Diwani
Prohibitive laws and procedures push Egyptians to work in the informal sector, says executive director of Center for Economic Studies
Poroshenko faces mammoth task after poll ‘victory’
Poroshenko, a 48-year-old former cabinet minister, had said Sunday he would work immediately to end a bloody pro-Russian insurgency that prevented voting across swathes of the industrial east and to fix a recession-hit near bankrupt economy.
Egypt outlook: The struggle between a pessimistic present and an optimistic future
By Ahmed Abou El Saad and Eric Swats The Egyptian economy Since 2011, Egypt has been hit hard by both ongoing political volatility and social unrest. Four key economic indicators have underscored this reeling economy: an increase in T-Bill rates, a decrease in Net International Reserves, the depreciation of the Egyptian pound (EGP) and a …
With tourism at an ebb, hopes for an Egyptian strongman
Sisi’s support campaign in Sharm El-Sheikh is coordinated by a former intelligence officer who now works in tourism.
Al-Sisi targeting 7% GDP growth, 8% unemployment by 2017/2018
Discussing the changes in fiscal policies, Al-Sisi’s economic platform stated that budget deficit and public debt should return to “safe levels”.
Al-Sisi condemned for withholding his platform
Al-Sisi, Sabahy hold meetings over their presidential campaigns
Fighting in Sudan Darfur city kills 4: Medic
A medical source said the bodies of four people were brought to hospital in the town. Three of the dead were “soldiers” but it was not clear from which force.
Elite Libya unit boosts rogue general’s Islamist hunt
Gunmen stormed the GNC in southern Tripoli on Sunday, two days after an anti-Islamist offensive launched by a rogue general in the eastern city of Benghazi.
Arabian Cement shares jump EGP 10.39 on first day of trading on EGX
CEO says IPO primarily aims to allow exit of investors, and can in the future contribute to increase the company’s capital
EGP 135bn spent on subsidies for current fiscal year
By the end of the current fiscal year the amount spent on subsidies will reach approximately EGP 135bn, compared to the EGP 129 billion spent the previous year, according to Al Al-Mula. Petroleum Minister Sherif Ismail predicted that subsidies for petroleum products for the coming fiscal year will reach about EGP 140bn in case prices …
Suez Canal development plan to be presented in January 2015: SCA official
Suez Canal Authority expects consortium tasked with preparing the plan to be announced soon
Al-Futtaim Group Egypt to launch new Honda City model in July at EGP 165,000 starting price
By Islam Atris Nile Trading and Engineering Company Al-Futtaim Group Egypt, Honda’s agent in the country, will release the new design of the Honda City model in July at a starting price of EGP 165,000. Al-Futtaim will release the car during the second half of 2014, and will begin supplying the model to Honda’s authorised …
Government to halt import of products with local equivalent
Decision in line with ministry of industry’s earlier announcement it is preparing a law obliging governmental authorities to buy local products instead of imported ones
Decision to use coal in cement industry is irreversible: Mehleb
Prime minister denies reports that Suez would be transferred to the authority of Cairo governorate
Communication of Egyptian government needs improvement: OECD
Report criticises labour market and education system; describes them as structural weakness
Development of industrial areas expected to miss deadline at end of FY
Industrial Development Authority considering to speak with the ministries of Finance and Planning to extend deadline for completing development of industrial lands
Government targets 67% GDP share from private sector
In past three years, private sector’s contribution to GDP was 60%, down from 65% registered in 2011
IMF says Lebanon economy to grow by 4% in medium term
Reuters – The International Monetary Fund forecasts Lebanon’s economy will grow by 2% in 2014 and a “modest 4% over the medium term,” despite two years of violence, political paralysis and a huge refugee influx. But with heavy pressures weighing on the economy, the IMF also said in a report published on Friday that Lebanon …
Annual inflation drops while foreign reserves rise
Revenue consistency prompts rise of foreign reserves for fourth consecutive month and the government’s negotiations with merchants lead to prices control, experts say
US government and Egypt’s civil society promote consumer rights
Over 300 Egyptians generated recommendations to strengthen the consumer protection law in Egypt at an event in Alexandria sponsored by the US Agency for International Development (USAID). Organised in coordination with the Egyptian Consumer Protection Agency (CPA) and three civil society groups, this event increased public awareness regarding consumer rights and regulations. “USAID has been …
MENA monetary policy is expansionary and will remain so: Emirates NBD
Egypt’s credit grew 20.7% year on year in January
Pakistan’s Sharif set to visit Iran amid strained ties
Relations between the neighbours hit a low following the kidnapping by Pakistani Sunni extremists of five Iranian border guards from Iran’s Sistan-Baluchestan province in February.
Sabahy aims to boost economy through job creation
The presidential hopeful’s economic plan relies on state budget, banks, and investors to finance its projects
Sabahy announces emergency economic plan
Presidential hopeful outlines 21 projects that aim to help Egypt achieve “economic development that will lead to social justice”, and “dignity protected by national independence”
Visa collaborating with government on online payment services: Visa’s general manager
Daily News Egypt interviews the General Manager of Visa in the North and Francophone Africa region Tarek Elhousseiny