Latest in Highlight

Advertising Area






Latest in


Egypt’s Naeem Holding to cross-list on Abu Dhabi exchange

Reuters – Naeem Holding for Investments has received approval from the United Arab Emirate’s financial regulator to list on the Abu Dhabi exchange, the firm said, a further sign of closer economic ties between Egypt and the Gulf. “Coordination is ongoing with the Abu Dhabi market and the necessary measures for receiving the approval of …

Daily News Egypt

Dubai lender Amlak’s Bourse suspension to be lifted

Reuters – The shares of indebted mortgage lender Amlak will resume trading on the Dubai bourse in the second half of this year, the United Arab Emirates’ economy minister said on Monday. Trading in shares of Amlak, which is in the process of restructuring debt that sources put at nearly $2bn, was suspended in November …

Daily News Egypt

After popular protests, Oman starts to pursue graft

Reuters – Young Omanis who took to the streets in 2011 to demand jobs and better economic prospects failed to trigger the mass protests that transformed other parts of the Arab world in their own Gulf state. But they may have had an impact all the same, as authorities are making a start on a …

Daily News Egypt

Dubai Investments to lift foreign ownership cap to 35%

Reuters – Dubai Investments, a diversified manufacturer and investor in property, plans to increase the limit on foreign ownership of its shares to 35% of its total capital, the company said on Sunday. Foreign investors now hold 13.7% of Dubai Investments’ shares out of the total 20% allowed, bourse data shows. The firm’s shareholders, including …

Daily News Egypt

Managing editor Rana Allam

Al-Sisi’s austerity request

“Egypt’s youth is its hope; they need to give and not expect to take anything now.” “Egypt needs a lot from us. Egypt’s youth should not be thinking about when will they be able to get married or when will they ‘live’, they need to build the country first.” “Our economic situation is extremely difficult, …

Rana Allam

Africa’s economy grows, but many stomachs are empty

By Kingsley Ighobor Each year, governments, journalists, development experts and others look forward to the United Nations Development Programme’s Human Development Report. The report includes a ranking of countries based on life expectancy, literacy, quality of life and so on. Once it is released, governments and citizens of countries with high rankings immediately trumpet their …

Daily News Egypt

South Africa’s youth employment bill

In May of 2012, a violent clash erupted between protesters and the opposition. Although this sounds like a fairly common news report from Egypt these days, the incident in fact took place in South Africa. The Democratic Alliance (DA), the main opposition to the ruling African National Congress (ANC), took to the streets to march …

Iris Boutros

So how is the economy?

Last week we talked about the challenges facing the new Egyptian government. We spoke of the newly appointed prime minister’s objectives. Mr Mehleb has proclaimed that his main aims are to wipe out militant violence and improve the economy. Well, security we all know about and can see its status by watching the news; but how …

Dr Mohamed Fouad

‘Let them eat cake’, part 2

When Gouda Abdel Khalek was Minister of Supply in March of 2012 he made a very “novel” suggestion— not the good kind of novel. At the time, Egypt’s food subsidy programme supplies were woefully insufficient to feed the millions of Egyptians benefitting (in theory) from the assistance. With some governorates having no rice for distribution …

Iris Boutros

Hopes pinned on private sector as Libya economy slumps

AFP – Small businesses are prospering in Libya’s major cities even as the economy at large is being throttled because of security problems and industrial action which has shrunk lifeline oil revenues. Its financial woes combined with lawlessness has so far discouraged the return of multinationals, three years after the outbreak of an armed revolt …

Daily News Egypt

Inside the Box

Since 25 Jan and former president Hosni Mubarak’s ouster, Egypt has been in a perpetual stage of transition. All dreams of a better future and rosier outlook have evaporated in the midst of unrest that has kept investors and tourists at bay, stifling economic growth. The economy has been battered ever since, with foreign debts …

Dr Mohamed Fouad

Meet Reem

Reem is a cleaning lady and a mother of four. She has been married twice though neither ex-husband supports his children financially or otherwise. Reem is on her own raising her children. Reem is among the working poor. Although she works full time, she barely meets basic needs. All four of her children show signs …

Iris Boutros

Egypt’s growth to miss forecasts

Reuters – Egypt’s economy will only grow by 2.0% in the fiscal year ending June 2014, well below the government target of 3.5%, according to a Reuters poll of economists who lowered their forecasts once again. Chances for an economic rebound were hurt by violence and political turmoil after Islamist President Mohamed Morsi was ousted …

Daily News Egypt

Benevolent dictator

South Korea has quickly become one of the world’s economic powerhouses. Growth of its real gross domestic product (GDP or the most common although imperfect measure of a country’s economic performance) was an average of 8% from 1962 to 1989. Interesting and quite relevant for Egypt today, the South Korean experience of rapid growth occurred …

Iris Boutros