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Personal loans increase as inflation and price of goods rise

The value of personal loans made in November 2012 increased by EGP 900m from the month of October. The total value of loans in local currency was EGP 111.2bn for the month of November 2012, as opposed to EGP 110.2bn in October 2012. During the same period, loans made in foreign currency increased from EGP …

Daily News Egypt

Open sesame

By Philip Whitfield “Iftaḥ ya simsim” Ali Baba says, and the mouth of the cave concealing the 40 thieves’ treasure opens wide. The poor woodcutter becomes antiquity’s biggest Lotto winner. We grow up on myths, glorious fiction, and eternity’s morality story of hope’s triumph over melancholy. The best tales have a beautiful leading lady, a …

Daily News Egypt

Tourism in the news: Tourism pays the price for violence

Egypt’s economy relies heavily on its tourism sector that has been struggling to survive since the uprising of 25 January and subsequent events in the country. Once a month DNE rounds up the most significant news relating to tourism to give you an overview of the efforts that are being made to bring tourists back to the country.

Daily News Egypt

Review: Columnists debate Morsy’s poor performance

Several columnists have denounced Morsy’s recent visit to Germany as an example of his failure to consider the deteriorating political situation in Egypt, criticising his decision to visit Berlin amid the political uproar. Some highlight that many Egyptians regret their choice of Morsy as president.   The failing trip to Germany Mohamed Salmawi Al-Masry Al-Youm …

Daily News Egypt

Review: Commentaries advise government to prioritise duties

Columnists condemn the poor performance of Hesham Qandil’s government in the wake of a series of sad incidents that took place last week.  Some writers are asking the cabinet to pay extra attention to the basic needs of the poor, instead of focusing on endless internal political disputes.   What does the poor want from …

Daily News Egypt

Reasons for optimism in 2013

By Moustafa Menshawy Cairo – If you live in Egypt, there are many reasons to feel politically, socially and economically pessimistic. Political wrangling and polarisation keeps the country on the edge of civil unrest. Unemployment and poverty grow amid a stagnant economy, insufficient investment and a fragile tourism industry in shambles in the post-revolutionary scare. …

Daily News Egypt