Egypt Independent: Economy-Main news http://www.egyptindependent.com//enhome_channel/Economy/rss.xml en BMI: Egypt's medical device market expects to reach $1.01bn within five years http://www.egyptindependent.com//node/2441781 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/video_thumbnail/" alt="" title="" class="imagecache imagecache-video_thumbnail" /><p dir="LTR">Egypt&#39;s medical device market is projected to grow by 11.1 percent in 2013-2018, one of the highest growth rates for the sector in the MENA region. The market is expected to reach US$1.01 billion in the next five years according to research recently released by Business Monitor International (BMI).</p><p dir="LTR">&quot;Egypt&#39;s per capita medical device expenditure is very low by regional and world standards, which indicates the enormous potential for growth as the country has the second largest population in the region,&quot; BMI said. &nbsp;</p><p dir="LTR"><span style="font-size: 1em; line-height: 1.5em;">&quot;Opportunities exist for medical companies to increase sales and market share,&quot; BMI added.</span></p><p dir="LTR">BMI explained that the vast majority of the market is supplied by medical device imports, particularly from Germany, the USA, China and Japan.</p><p dir="LTR">In US dollar terms, imports increased by 11.1 percent in 2013, reaching $540.5 million.</p><p dir="LTR">Other medical devices and diagnostic imaging remained the largest import product areas.</p><p dir="LTR">Egypt&#39;s medical device exports increased by 30.2 percent &nbsp;in 2013, amounting to $86.7 million. Consumables and other medical devices remained the largest export product areas.</p><p dir="LTR">&nbsp;</p> Thu, 25 Dec 2014 09:23:00 +0000 Egypt Independent 2441781 at http://www.egyptindependent.com Egypt's market gains LE3.8 bn, EGX30 Index inching up 0.64% http://www.egyptindependent.com//node/2441827 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/06/19/484151/217788_0.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p dir="LTR"><span style="font-size: 1em; line-height: 1.5em;">Egyptian shares inched up during Wednesday&#39;s session, with EGX30 closing 0.64% up, recording 8,766.12 points and a turnover of LE453 million.</span></p><p dir="LTR">Meanwhile, the EGX70 and the EGX100 also closed up 0.46 percent and 0.38 percent respectively.</p><p dir="LTR">Arab institutions and Arab retail investors recorded net purchases of LE13.69million and LE7.69million respectively.</p><p dir="LTR">Local institutions and local retail investors recorded net sales of LE16.67million and LE6.22 million respectively.</p><p dir="LTR">EGX market capital gained LE3.8 billion (US$1.3 billion) to hit LE493.14 billion compared to LE4 489.3 billion on Tuesday .</p><p dir="LTR">&nbsp;</p> Wed, 24 Dec 2014 15:02:00 +0000 Egypt Independent 2441827 at http://www.egyptindependent.com sites/default/files/photo/2014/06/19/484151/217788_0.jpg Former FM chairs Cairo economic forum http://www.egyptindependent.com//node/2441816 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/11/05/484151/tswyr_hmd_trnh_3.jpg" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><div><div>Former Egyptian Foreign Minister Mohamed al-Orabi will chair the global economic summit in Cairo in February, with Hoda Naguib of the Foreign Ministry as his vice president.</div><div>&nbsp;</div><div>Ismail Mossad, president of Economists Without Borders, which organizes the summit, said the forum would play a major role in the overall economic development of the world with participants presenting studies providing solutions to global economic crises.</div><div>&nbsp;</div><div>He added that the organization will issue a quarterly annual report on the world economy, and will award prizes for the best research presented.</div><div>&nbsp;</div><div>Among the economists participating in the forum are Alan Randall, professor of economics at the University of Sydney, Dalal Abdel Hadi, professor of economics at the University of Alexandria, Mohamed Hamid Dewedar, professor of economics at the University of Alexandria, Tamer Momtaz, jury member of the Swiss Arbitration Association and Abdiweli Mohamed Ali, former prime minister of Somalia. The Chamber of Metallurgical Industries of the Federation of Egyptian Industries and the Federation of Egyptian Chambers of Tourism will also participate in the summit.</div><div>&nbsp;</div></div><p>&nbsp;</p> Wed, 24 Dec 2014 14:12:00 +0000 Egypt Independent 2441816 at http://www.egyptindependent.com sites/default/files/photo/2014/11/05/484151/tswyr_hmd_trnh_3.jpg Lamudi: Five real estate trends expected for 2015 http://www.egyptindependent.com//node/2441769 <img src="http://www.egyptindependent.com///sites/default/files/imagecache/media_thumbnail/photo/2014/12/23/39/lamudi.png" alt="" title="" class="imagecache imagecache-media_thumbnail" width="152" height="114" /><p dir="ltr" id="docs-internal-guid-ef33c0e3-7716-78e3-3c29-8b372b1ac447" style="line-height:1.15;margin-top:0pt;margin-bottom:0pt;"><span style="line-height: normal;">Global Property Portal Lamudi has predicted five key trends to watch out for in emerging real estate&nbsp;</span><span style="line-height: normal;">markets</span><span style="line-height: normal;">&nbsp;</span><span style="line-height: normal; font-size: 1em;">for the 2015 New Year.</span></p><div>&nbsp;</div><div>Perhaps the most apparent changes will be in foreign ownership laws expected in 2015. Some countries in the Association of Southeast Asian Nations (ASEAN) will merge to form a single market, Lamudi said, indicating that foreigners are banned from buying properties in many of the emerging markets.</div><div>&nbsp;</div><div>Lamudi is also expecting an increase in investor interest, saying that Foreign direct investment (FDI) is expected to continue to hit record highs in 2015.</div><div>&nbsp;</div><div>Lamudi also highlighted a steady increase of Africa&rsquo;s share in global FDI projects over the past decade, based on forecasts by the African Development Bank, the United Nations Development Program and the Organization for Economic Cooperation and Development forecast, that Africa&rsquo;s FDI would reach $US80 billion in 2014, saying that real estate has been a major contributor.</div><div>&nbsp;</div><div>Among other trends expected during 2015 is the growing middle classes, which according to Lamudi, boosts the demand. Lamudi explained that the wealthier people are, the better educated, career-minded they will become, which consequently means they will have greater purchasing power to buy properties including houses.</div><div>&nbsp;</div><div>Lamudi also expected the Internet revolution to transform the property industries, saying that more people are switching online every year across the emerging markets.The portal advised those working in the real estate industry in the coming year to market their products via mobile in order to reach the highest number of potential customers.</div><div>&nbsp;</div><div>One more trend was the high growth and optimism expected to continue in the coming year. Lamudi indicated its recently conducted online survey showing that real estate agents across emerging markets predicted high growth for their national property sectors in the coming year.</div><div>&nbsp;</div><div>In a recent online survey conducted by Lamudi, real estate agents across emerging markets predicted high growth for their national property sectors as well as optimism in 2015.</div><div>&nbsp;</div><div>&nbsp;</div><div>&nbsp;</div><div>&nbsp;</div> Wed, 24 Dec 2014 12:05:00 +0000 Nehal Mostafa 2441769 at http://www.egyptindependent.com sites/default/files/photo/2014/12/23/39/lamudi.png