Hisham Salah

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Latest by Hisham Salah


Amr El-Garhy, The Minister of Finance

Finance ministry working to reduce budget deficit to 3-4% by 2021: El-Garhy

Minister of Finance Amr El-Garhy said during a meeting of the American Egyptian Chamber (AmCham), that the ministry is working to reduce the budget’s deficit to 3-4% by the year 2021, adding that it’s one of the current challenges facing the government. In the meeting held on Sunday, the minister stated that the government has …

Hisham Salah

by asmaa gamal

Challenges that new ministers face

On 16 February, Prime Minister Sherif Ismail got parliamentary approval for the new ministers that he had chosen for the cabinet reshuffle. The reshuffle comes during a time that is seeing extreme instability of the economy. The new ministers will also have to deal with the heavy burdens that citizens face after the implementation of …

Hisham Salah

market

Reducing price of products depends on stability of US dollar

After the Ministry of Finance reduced the price of the US dollar used for customs to EGP16, down from EGP18.5 on 16 February, media outlets stated that the prices of a lot of products will decrease soon. The prices of almost all products have hiked during the previous months after the Central Bank of Egypt …

Hisham Salah

the head of the NECD Atter Hannoura

Providing lands for investors in June/July: head of NECD

During a meeting held by the Egyptian Center for Economic Studies, the head of the New Egyptian Countryside Development (NECD), Atter Hannoura, said that the company will provide lands to investors in June or July. He added that the company didn’t achieve a measurable success in providing lands for companies; instead, NECD focused on individual …

Hisham Salah

New Capital

Withdrawals grant government a chance to rethink new capital project: UC chairperson

The Ministry of Housing, Utilities, and Urban Communities said in a statement issued on Wednesday that the China State Construction Engineering Corporation (CSCEC) has withdrawn from the new administrative capital project, which had been announced during the Sharm El-Sheikh conference in March 2015. According to the statement, the company decided to withdraw over financial disputes. …

Hisham Salah

inflation , market (5)

Annual rate of inflation hikes by 29.6%, monthly by 4.3%: CAPMAS

The annual rate of inflation hiked to 29.6% in January compared to January 2016. The rate had previously stood at an annual inflation rate of 24.3% during December 2016, according to the monthly report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly rate recorded an increase of 4.3%, which was …

Hisham Salah

Trump

Too early to predict US foreign investments policy: Nafea

In spite of the harmony between Egyptian President Abdel Fattah Al-Sisi and US president Donald Trump, economic experts believe that it’s hard to guarantee bilateral relations are going to improve and that Trump’s good personal relation with Al-Sisi doesn’t mean economic relations will improve. According to Trump’s statements, which voice his putting America first to …

Hisham Salah

The Egyptian Stock Exchange in session. (DNE PHOTO)

EGX could attract falling Saudi investments, experts say

Saudi stock exchange has been witnessing huge losses for the second week respectively. According to a report issued by Al-Hayat news website, Tadawul—the stock market of Saudi Arabia—lost more than $3.5bn due to declining demand. The report added that the liquidity in the market declined by 18%, affecting the Tadawul All Share Index (TASI) negatively. …

Hisham Salah

shishia, coffee shop , cafe , football , match

The economics of football championships between fans and coffee shops 

Since the 2006, 2008, and 2010 African Cup of Nations, football became very important to Egyptians, as the country won the title three times in a row. Egyptians are very keen and excited to watch football matches with friends or family. Moreover, they prefer to watch the matches while having hot drinks and smoking shisha …

Hisham Salah

trade , exports

Ministry of Industry creates export strategy to Africa for next 3 years

Minister of Industry and Trade Tarek Kabil announced that the ministry will complete the establishment of a new strategy that aims at increasing exports to Africa within the next three years. He added that the ministry cooperated with five export councils, namely the chemical and fertilisers, building industries, food, engineering, and medical councils, to create …

Hisham Salah

egyptian pound

Egyptian pound’s value drops by 98% since 1979

According to data collected from the International Monetary Fund (IMF), Bloomberg, and Beltone research, the Egyptian pound lost a lot of its value during the past four decades. Since 1979, the pound has lost approximately 98% of its value. Now, the pound can buy only 2% of what it could back in 1979, and is …

Hisham Salah

trade , exports

Exports increased after Egyptian pound’s flotation: Minister of Industry and Trade 

Minister of Industry and Trade Tarek Kabil said that the flotation of the Egyptian pound has helped promote the country’s exports and limit its imports, according to a statement issued by Beltone Financial on Wednesday. Kabil added during Beltone Financial’s “Africa’s Era, Egypt’s Moment” conference, which is currently being held, that “the 2011 revolution impacted …

Hisham Salah

Amr El-Garhy, The Minister of Finance

Egypt’s treasury bonds: high interest, but for what?

The government of President Abdel Fattah Al-Sisi promised to carry out a lot of economic reforms in the country, which require excessive effort and financing, as the president had mentioned many times during different speeches. The government has been asking for foreign help since Al-Sisi came to office, from Saudi Arabia, Kuwait, the United Arab …

Hisham Salah

sisi, suez canal

Despite efforts, investors have not flocked to national mega projects

The government headed by Sherif Ismail has repeatedly said that it wants to attract investment to all national projects which were announced by President Abdel Fattah Al-Sisi. However, experts believe that the government is wasting precious time by not establishing the infrastructure of these mega projects. These projects are the Suez Canal Economic Zone, the …

Hisham Salah

E-Planet Educational Services,

E-Planet launches its first English learning smartphone application

E-Planet Educational Services, an international organisation created by a team of education experts, has launched a new smartphone application named “E-planet English Courses” in January 2017. The new application attempts to facilitate communication between students and their English-language school, besides providing other educational services.   “Through the app, learners can message their course provider at …

Hisham Salah