Latest in Tag: Economy Highlight
Latest in Tag: Economy
CBE fails to balance exchange market
Deputy governor admits that attempts to preserve pound to demonstrate strength of economy have caused foreign currency reserves to lose value
Ten new ministers take oath in Cabinet reshuffle
Four new Cabinet ministers are known to be Muslim Brotherhood members
Egyptian pound turns 114
The pound first came into existence as a result of a Khedival decree in 1834, replacing the piaster
Rebel Economy
Guide to the end of the world (or explanation of currency devaluation)
Rebel Economy Wrap
Syria’s Poundemonium
Rebel Economy Wrap
Egypt Central Bank Battle, Budget Deficit Under Morsy, Retail Always Wins
Rebel economy wrap
Egypt’s New Central Bank Governor – Hisham Ramez
Rebel Economy Wrap
Citadel’s New Energy Chief, Centamin Spat, Mubarak-Era Projects
Qandil’s plan, high on aspirations low on detials
PM Qandil predicts 3.5 per cent growth this year
EGX continues sideways movement reflecting market uncertainty
The stock exchange’s main indicator, the EGX30, reflected ongoing instability in the market with a shaky day of trading Wednesday. A slight dip started the day, followed by an up-swing that lasted until midday before it closed at 5,668 points, losing 0.38 per cent of its value. The market has been sensitive to contradictory news …
Editor’s letter: Mubarakonomics
Remember people chanting “Bread, freedom and social justice” twenty months ago? Remember how brilliant it felt summing up all what we needed in a Post-Mubarak Egypt? How does this same and exact slogan feel to your ears now? I guess quite kitsch. Simply, too much shouted and no steps ever taken towards its realisation. Mubarak’s …
European stocks rise on solid US jobs report
Dow Jones Industrial Average up by 47.35 points 0.36 per cent, the broad-based S&P 500 gained 0.34 per cent, Nasdaq Composite rose 0.22 per cent
Rebel Economy Wrap
Human vs machine, IMF in Cairo, interest payments on Egypt debt
Qandil says he did not ask for aid
Algeria still holds economic potential
Qatar’s Emir pays second visit to Morsy
Qatari and Egyptian heads of states discuss relations and Palestine
Rebel Economy Wrap
Made in Asia – China and Japan in North Africa, Saudi-style revolution
Swimming against the current
The government’s prescription to treat the economic recession we’re currently enduring has been a two-fold solution of increasing foreign investment and seeking more international loans. The monetary policy of maintaining the stability of the Egyptian pound against depreciation is a top priority. But how long can the state keep this up? How overvalued is the …
Rebel Economy Wrap
Central bank meeting, interest rates explained as Egypt cuts corners
Rebel Economy Wrap
Iraq Central Bank head suspended, Mubarak’s Laundromat
Kuwaiti funds to invest in Egypt
Kuwait Finance House and its subsidiary, Liquidity House, have declared their readiness to support Egypt by investing in the country, according to Minister of Finance Momtaz El-Saeed. El-Saeed recently met a delegation from the two organisations headed by the vice president of Liquidity House, Emad Youssef El-Manieg The Kuwaiti delegation emphasised the enthusiasm of Kuwaiti …
CBE prepared to take necessary steps to protect pound
Central Bank of Egypt officials say they are committed to keeping Egypt’s pound and foreign reserves stable, but do not have a “magic number” targeted
S.Africa gold mine owners, unions reach pay deal
NUM, owners reach an agreement, workers going back to work today
Investment in Egypt: A lot is being done, a lot is yet to be done
Most of the speakers tried to convey a reassuring message, however some participants insisted that most of the work is yet to be done.
Shipping lines vow to reroute their ships away from Al-Sokhna
Three shipping lines of the Ain El-Sokhna port have warned the Dubai Ports World (DP World) company, which is working in El-Sokhna port, to reroute its ships to other ports in the Red sea in case of further strikes, said an official DP World source. The three shipping lines represent around 90 per cent of …
Review: The speech at the stadium
 Following the high-profile celebration of the 6 October victory in Cairo Stadium, at which President Morsy gave a lengthy speech, columnists discussed, analysed and critiqued the speech and the indications it relays. Reactions varied from praise, to admiration of political astuteness, to outright attack.  The stadium speech… a provisional analysis Nader Bakkar Al-Watan Judging …
Morsy marks 100 days in office
Review of Morsy’s first 100 days in power
Foreign reserves’ movement defies all expectations
By Mohamed Salah Against all expectations, the Central Bank of Egypt announced yesterday that the country’s foreign currency reserves fell by $84 million in September, but remain above the barrier of $15 billion. The international reserves, which reached $15.13 billion in August dropped to $15.04 billion by the end of September as reported by the …
Morsy’s 6th of October speech
Analysis and beyond
Chinese steel sparks anxiety among domestic producers
A wave of alert follows the announcement that a Chinese steel freight will be sold for around EGP 700-800 less than Egyptian steel. The news caused local steel producers to panic, forcing Ezz steel to lower its prices by EGP 250 per tonne, reaching EGP 4,080 for factories and EGP 4,230 for the final consumer, …
Morsy attacks non-compliant companies
President Mohamed Morsy targeted five companies yesterday, stating that they owe the government more than EGP 100 billion. Morsy’s lengthy speech commemorating the 39th anniversary of the October war against Israel was turned into a report of sorts on companies’ performance and compliance with contractual agreements with the government. Morsy stated before tens of thousands …