Egypt partners with Google to promote 'unmatched diversity' tourism campaign    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Taiwan GDP surges on tech demand    World Bank: Global commodity prices to fall 17% by '26    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Articles of the author Abdel Razek Al Shuwekhi
Egypt set to export electricity to Cyprus, Greece in October 2021
Mohamed Shaker, Egypt's Minister of Electricity, said Egypt possesses promising power capabilities in the field of electricity transmission, in light of the development of electricity production plants over the past five years, which helped achieve (...)

15 - 09 - 2021
From the trading floor
Abu Qir Fertilisers: The leading state-owned fertiliser producer is upbeat about global nitrogen fertiliser prices. During a conference call earlier this week, the management of the company told analysts it expects prices to hover around $400 per (...)

07 - 09 - 2021
From the trading floor
GB Auto: The leading car distributor has decided not to renew distribution agreements signed with the Chinese Car Manufacturing Company, owner of the trademark Geely, "for strategic reasons", according to a GB Auto statement. Prior to the decision, (...)

17 - 08 - 2021
Action against Ennahda
On 25 July, Tunisian President Kais Saied took several decisions that marked a turning point in Tunisian politics after confrontations over the last seven months with prime minister Hichem Mechichi and speaker of parliament and leader of the Ennahda (...)

27 - 07 - 2021
Egypt: Negative account balances
A country's current account balance shows imports and exports of services and goods, net investment income, and direct transfers. A positive current account means that a country earns more than it spends. A negative account means it spends more than (...)

03 - 05 - 2021
Reform for recovery
A national structural reform programme building on existing economic reforms is soon to be announced by the government. The new programme aims to create a stronger, more resilient economy, able to withstand domestic and external shocks, Fakhri (...)

20 - 04 - 2021
From the trading floor
Amoun Pharma: The leading local pharmaceuticals manufacturer and distributor is seeing an important change in its ownership structure, with its main shareholder, the Canadian Bausch Health, selling its stake to the Abu Dhabi sovereign wealth fund (...)

06 - 04 - 2021
A waterway to die for
Hundreds of thousands of Egyptian peasants lost their lives during the digging of the Suez Canal in the late 19th century, and its extravagant inauguration ceremony in 1869 was the start of Egypt's indebtedness. Former president Gamal Abdel-Nasser's (...)

30 - 03 - 2021
More spending budgeted
President Abdel-Fattah Al-Sisi announced increased spending intended to boost the incomes of millions of Egyptians on Monday in the state budget for the 2021-2022 fiscal year that goes into effect in July. The new spending increases the minimum (...)

16 - 03 - 2021
From the trading floor
Cairo for Investment and Real Estate Development (CIRA): Egypt's largest provider of educational services has acquired a 51 per cent stake in the nursery operator Innovette for Education. CIRA, which operates 21 schools nationwide and owns Badr (...)

02 - 03 - 2021
New opportunities for Egypt's banks
Despite the impact of the coronavirus on the economy in general and the banks in particular, the Egyptian banking system will remain stable in 2021, according to a report issued by the international ratings agency Moody's. The sector's profits, as (...)

02 - 02 - 2021
Escaping the debt trap
Reports on the Egyptian economy over the last 20 years have highlighted inflated public debt as one of its main shortcomings. The problem started with the Open-Door Policy in the 1970s, remained during the neo-liberal system of the Mubarak era, and (...)

20 - 12 - 2020
Company news
Egypt Aluminium: The company reported a 30 per cent increase in sales in the first quarter of 2020-21 compared to the previous quarter to reach LE2.19 billion. The noticeable improvement is attributed to strong production growth that recorded 72,000 (...)

08 - 12 - 2020
Unlocking employment potential
Egypt's unemployment rate dropped to 7.3 per cent in the third quarter of 2020 after hitting a two-year high of 9.6 per cent in the previous quarter, according to figures from the Central Agency of Public Mobilisation and Statistics (CAPMAS). The (...)

17 - 11 - 2020
Briefs
Inflation heads north EGYPT'S annual inflation rate increased to 4.5 per cent in October from 3.7 per cent in September, the Central Authority for Public Mobilisation and Statistics (CAPMAS) has said, attributing October's higher headline rate (...)

10 - 11 - 2020
CIB: Reassuring fundamentals
Shares in Egypt's largest private-sector bank, the Commercial International Bank (CIB), ended in the red on Monday for the second consecutive day. But the decline was limited in relation to the fuss caused by the resignation of long-time Chairman (...)

27 - 10 - 2020
Surviving the economic damage
The coronavirus pandemic has hard hit economies worldwide, with even the most developed countries witnessing slowing if not negative growth rates, widening deficits, and escalating unemployment levels. Egypt has been no exception, but the negative (...)

20 - 10 - 2020
Inflation down
Egypt's annual urban inflation rate increased slightly to 3.7 per cent in September compared to 3.4 per cent in the previous month, marking its lowest level since 2005 according to data from the Central Authority for Public Mobilisation and (...)

13 - 10 - 2020
From the trading floor
Orascom Investment Holding (OIH): The company owned by business tycoon Naguib Sawiris might be considering acquiring a majority stake in United Bank, 99 per cent owned by the Central Bank of Egypt. Sawiris told the financial daily Hapi that the (...)

06 - 10 - 2020
Going green, going Islamic
At a time when governments of both poor and rich countries as well as many corporates are suffering from the economic effects of the Covid-19 pandemic, more means to finance their spending needs are being sought through borrowing. Green bonds, being (...)

06 - 10 - 2020
From the trading floor
Telecom Egypt (TE): The state-owned fixed-line monopoly seems to be serious about acquiring the 55 per cent it does not own in the mobile operator Vodafone Egypt (VE). A consortium of banks is currently in negotiations with TE to finance the (...)

15 - 09 - 2020
Weathering coronavirus
Egypt's strong and diversified economy, low levels of foreign-currency denominated debt, and the declining domestic cost of borrowing are all factors bolstering its credit-worthiness, according to a recent report by the US ratings agency Moody's, (...)

08 - 09 - 2020
Newsreel
More jobless THE NUMBER of unemployed people in Egypt is increasing, with the unemployment rate rising to a near two-year high in the second quarter of 2020 to reach 9.6 per cent, 2.1 per cent higher than its level in the same period last year, (...)

18 - 08 - 2020
Foreign currency takes a hit
The Covid-19 pandemic is affecting the global economy as no crisis has ever done before, with the International Monetary Fund (IMF) recently releasing a report assessing the current and future impact of it on the external sector of economies or how (...)

11 - 08 - 2020
AIB into private hands
The Central Bank of Egypt (CBE) has given the green light to the Sovereign Fund of Egypt (SFE) and leading local investment bank EFG Hermes to start examining the financial situation of the state-owned Arab Investment Bank (AIB) as a first step (...)

30 - 06 - 2020
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