Economy features

With loans, a flood of Turkish business

Egypt's President Mohamed Morsy attends a meeting with Turkish Foreign Minister Ahmet Davutoglu (L) at the presidential palace in Cairo July 2, 2012. Egypt will approach the International Monetary Fund (IMF) and other financial institutions to help get its economy back on track once Morsy appoints a government, a financial adviser who helped draw up his manifesto said.
08 Oct 2012
After receiving some substantial financial aid from the Turkish government, Egypt is increasingly turning to its Anatolian neighbor for much-sought after private investments.   This month, the Turkish government agreed to deposit US$2...
Yes

Through special office, government to protect Saudi investors

Saudi Arabia's King Abdullah (R) meets with Egypt's President Mohamed Morsy at the Royal Palace, Jeddah,11 July 2012.
04 Oct 2012
In what appears to be a last-ditch effort for the government to settle several high-dollar deals domestically instead of paying out millions in international arbitration proceedings, government officials recently designated a special...
Yes

Amid economic downturn, a furniture company finds success

The furniture industry in Damietta experiencing great demand all over Egypt
04 Oct 2012
The nation may be going through the most severe economic slowdown of the past decade, but some businesses have managed to grow despite the hard times. Egypt Independent recently talked to one business owner whose company has found its...
Yes

White-taxi drivers demand financial help, decry government program

Dozens of white taxi drivers protest against security failure, Egyptian Museum, Tahrir Square, Cairo, 15 November, 2011. Drivers said they suffer thuggery and car robbery.
03 Oct 2012
Amid a slew of recent labor protests, drivers of white taxis blocked a main Cairo traffic artery last week, parking dozens of cabs in front of the Cabinet building. Their protest, drivers say, was meant to call attention to the efficacy of...
Yes

Lost in the shuffle: Small businesses continue to bear brunt of economic downturn

 
27 Sep 2012
It’s been a hard year for Mohamed al-Kady, owner of a small clothing factory in Heliopolis. The months of unrest and uncertainty, he says, have weakened demand for his Egypt-made ready-to-wear apparel. “The middle class has...
Yes

USAID loan promises small businesses help, but without a guarantee

الشعار الخاص ببنك HSBC
24 Sep 2012
In a visit to Egypt in late August, US Under Secretary of State Robert Hormats announced a US$34 million loan guarantee extended to HSBC Bank by USAID in support of small- and medium-sized enterprises, or SMEs. The initiative is part of...
Yes

The alternative guide to solving Egypt's economic crisis

The opening ceremony of the new Egyptian Stock Exchange in Smart Village, outside of Cairo.
21 Sep 2012
Egypt is currently taking a series of massive measures which officials say will help fix the country’s ailing economy. In recent weeks, it has received loans and investment pledges from Italy, Turkey, the United States, Saudi Arabia...
Yes

Hunger economics: Do rising food prices mean trouble ahead?

Residents of El Kom El Ahmar village, Shebin El Qanater, pushing each other while waiting for subsidised bread to come out of distribution unit (a bakery).
20 Sep 2012
Ali Mazen, a day laborer from Fayoum, barely makes enough in Cairo to buy food for his family back home. He can’t imagine how he would cope if basic food prices were to rise. “The money I make now barely covers my own expenses...
Yes

In debate over devaluating the pound, officials avoid sparking panic

Building of headquarters of Central Bank of Egypt in Downtown
04 Sep 2012
In the past year, Egypt has been dealt a series of crippling economic blows, but the Egyptian pound has not depreciated greatly, thanks to the Central Bank of Egypt and some of its costly measures. But as the country’s political...
Yes

Is the government trying to tap into the lucrative mobile phone industry?

An Egyptian girl seen talking in a mobile phone.
04 Sep 2012
With a mobile phone in the hands of nearly every Egyptian and three large companies vying to provide customers with affordable mobile services, the telecommunications industry is often touted as one of the most competitive and successful...
Yes

Our Recommendations