Economy features

Minister of Finance: Moody's decision to change Egypt's outlook to stable good news, but not enough

A general view of the stormy sky in Cairo, Egypt, 13 December 2013.
21 Oct 2014
The Egyptian Minister of Finance Hany Qadry Dimian on Tuesday said he considered the rise in the country's credit rating by Moody's evidence of the governmental reform plan success but it is not enough to express the positive...

Steel protectionism stokes price hikes fears

18 Oct 2014
Steel traders have warned that imposing protectionism fees on their imports indicate a possible return to market hegemony for influential steel tycoon and ex-president Hosni Mubarak’s strongman Ahmed Ezz.   The traders said...

Israeli gas holds promise of better ties with neighbors

Natural gas field in the Mediterranean
14 Apr 2014
Israel's drive to export its new-found natural gas could help to rebuild strained ties with old regional allies Egypt and Turkey, but could deprive Europe of a precious alternative to Russian gas. Israel has in recent months already...

Investments plagued with low-qualified workers

10 Nov 2013
Egypt is suffering a clear lack of investments, which many businessmen who run factories in various industrial zones across the country have blamed on low-qualified with low production rates.   Since the 25 January revolution,...

Egypt relies on Gulf aid for economy: Then what?

A meeting between a UAE delegation to Cairo, led by UAE National Security Chief Sheikh Hazza bin Zayed al-Nahyan, and Egypt's interim president Adly Mansour. 
10 Nov 2013
Egypt is engaged in a high stakes gamble, using billions of dollars from Gulf Arab allies to stimulate the economy and keep its politically charged streets calm in the hope that investors and tourists will return. The...

Abu Dhabi bank chief says Egypt must develop base of economy

09 Nov 2013
In order to reach its potential, Egypt must first develop the base of its economy, which currently lacks raw materials and intermediates, says Karim Helal, CEO at the Abu Dhabi Islamic Bank who heads the industry reactivation session...

Is the worst over for Egypt’s economy?

06 Nov 2013
Could Egypt’s economy be on the road to recovery?   Some indicators suggest this might be the case. According to Reuters:   Egyptian business activity shrank for the 13th month in a row in October but at a much slower rate...

Egypt sees a drop in millionaires during Morsy

03 Nov 2013
The number of millionaires in Egypt fell by around 3,000 during Morsy’s one-year rule, according to Credit Suisse Research Institute’s (CSR) Global Wealth Report 2013.   The total number in mid-2012 was around 25,000,...

Egypt’s economic competitiveness plunges to new lows

12 Oct 2013
Political instability has caused Egypt’s economic competitiveness to tumble from 107th to 118th out of 148 countries, according to Global Competitiveness Index (GCI), an annual report issued by the World Economic Forum.   The...

New mandatory pricing list: a merchant’s nightmare

Foodstuff prices
02 Oct 2013
The interim government has threatened imposing a so-called “mandatory pricing list” on merchants to fight soaring commodity prices and merchants’ “greed,” giving them a grace period of only one week to lower...