Negligence of foreign currency resources aggravates ballooning dollar crisis
A decline in revenues from tourism, FDI, the Suez Canal and Egyptian exports continues to burden Egypt’s foreign reserves
Doaa Farid
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Latest by Doaa Farid
Temporary rice shortage reveals tenuous balance between food security and government’s drive for profit
The GASC issued a series of calls to tender, moving between local suppliers, whom it owed outstanding payment, and international suppliers, whom it failed to interest
Egypt discusses tax reforms in IMF-World Bank meetings
Egyptian delegation agreed with IMF officials to cooperate in studying methods to enforce VAT law
IMF loan negotiations: Will Egypt make it work this time?
Economy professor Alia El-Mahdy believes Egypt will adopt further economic reforms in the new fiscal year to meet IMF’s demands
Sawiris and Tarek Amer fight: flashback to previous battles with the state?
Businessman Naguib Sawiris insists that Tarek Amer used his position to prevent state-owned banks from funding his bid to acquire CI Capital
Metro ticket price: between a burdened government and frustrated commuters
The Ministry of Transportation spokesperson said that the ticket increase will not exceed EGP 1, making the final price EGP 2
1 year after EEDC: What has been achieved?
Questions have been raised over the purported success of the conference, as following up on investment pledges haven’t been announced periodically
Analysts laud lowering gas prices for steel factories
Steel factories were spending $2bn to import steel plate, to offset low production resulting from gas shortage
Unflagging EGP decline threatens Egypt’s economic growth
US dollar is forecasted to break EGP 10 threshold
High demand pushes Careem Egypt to amend price of service
Additional costs will be fully given to Careem drivers “to encourage them” to be available during peak times
70 million reliant on food subsidies in peril amid government austerity and mismanagement
Syndicate of Commodity Grocers alleges Ministry of Supply mismanaged food sourcing procedures in attempt at centralisation
Cloaks and dollars: World Bank’s $1bn, VAT, and misalignment within government
An attempt to provide an account of the brief history of the World Bank loan agreements, negotiations surrounding VAT, and the implications of parliamentary intransigence
Port Said Harbour to be launched later this week
The project was finalised in three months and 10 days
Confusion reigns following rejection of Civil Service Law
Some employees are yet to be informed under which system they will receive their February salaries
No legal action taken against car mobile-based applications, demand increased
Police have reportedly begun stopping Uber and Careem drivers to check their papers
Wheat importers still ‘cautious’, tender cancelled
GASC issued two tenders last week
Egypt’s wheat reserves in question
Last May, wheat reserves were reported to be 165,000 tonnes
New system for wheat farmers’ subsidies to boost local production: Ministry spokesperson
Government will give EGP 1,300 in subsidies for each planted acres with a maximum 25 acres for each farmer
Egyptian wheat security under threat
Egypt faces an impending crisis in its main food commodity as suppliers boycotted a tender issued earlier this month in protest of new import rules
Egypt must consider alternatives to French wheat
Noureldin said France has often requested exemption from Egyptian quality regulations
Real estate prices will increase with continuous pound devaluation: JLL
The new administrative capital is the natural extension of the city and it will develop anyways, says JLL Egypt Director
Another round of high inflation anticipated following new custom tariffs
Government custom revenues recorded 8.7% of total value of imports in first five months of FY 2015/2016
Egypt’s economic gains highly susceptible to risk events
Implementation of VAT as replacement for current sales tax is the cornerstone of revenue-side reforms in Egypt, says Mathias Angonin
New fund to compensate victims of real estate fraud
Ministry of Housing awaits upcoming law to send to parliament for approval
Australian delegation to Egypt to assess investment opportunities
Bilateral trade between Egypt and Australia in FY 2014/2015 recorded at $386m
Civil Service Law’s fate uncertain amid push for reissuance
The government said that it will resubmit the law to the parliament after amending it
Budget deficit will be above government expectations: Fitch Ratings
Mega projects were a catalyst for some private sector investments and helped lift business confidence in Egypt, says Fitch Senior Director
Civil Service Law will be amended if needed: Head of Free Egyptians Party
Free Egyptians Party calls for a community dialogue later to discuss the law
Egypt-China economic relations anticipate a boost
Cairo prepares 16 projects, MoUs to be signed with China in the fields of electricity, transportation, construction, agriculture, industry, education
City Centre Almaza construction kicks off, Salman hastens completion
The armed forces undertook construction of the roads and bridges surrounding the shopping centre for EGP 35.5m