Hisham Salah

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Latest by Hisham Salah


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

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 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

Ministry of International Cooperation signs an agreement with Egyptian Steel, Orman to develop villages

Minister of International Cooperation Sahar Nasr signed an agreement with Ahmed Abou Hashima, head of Egyptian Steel, and Hossam El-Kabany, head of Orman charity association, to develop villages around Egypt. Nasr said that the agreement represents the true cooperation between the government, private sector, and civil society organisations. She stated that establishing sustainable development cannot …

Hisham Salah

Trade relations between Egypt African countries must improve: Talaat

At the American Chamber of Commerce in Egypt, country general manager of IBM Amr Talaat said that trade relations between Egypt and African countries need to improve. He said that African countries receive almost 3% of Egyptian exports, which is a small amount that must be increased. He added that so far, large economies in …

Hisham Salah

Performance of economic ministries too weak for experts, as parliament calls for cabinet reshuffle

Rumours have circulated in different media outlets regarding a potential cabinet reshuffling, supported by members of parliament. The parliamentary calls for areshuffle did not mention the main ministers they sought to replace or the ministries that should be subject to the reshuffle. However, the high inflation and the current economic conditions are cited as important …

Hisham Salah

Egypt’s agricultural exports increased by 17% during 2016

Minister of Industry and Trade Tarek Kabil said that Egyptian agricultural exports increased by 17% during 2016, adding that Egypt is currently the biggest citrus exporter in the world. The minister added in a statement issued on Wednesday during a meeting with investment banks’ representatives, arranged by EFG-Hermes, that Egypt has a lot of investment …

Hisham Salah

Egypt’s exports to Lebanon increase by 65%: Minister of Industry and Trade

Minister of Industry and Trade Tarek Kabil said that Egyptian exports to Lebanon increased by 65% during 2016 compared to 2015, adding that a lot of different fields benefited from the increase. Construction materials manufacturers benefitted most from the hike in exports, as their exports increased by 225% to record EGP 277m. Kabil said in …

Hisham Salah

ECA refutes illegal broadcasting rumours

The Egyptian Competition Authority (ECA) dismissed rumours that it would approve the illegal broadcast of the Africa Cup of Nations matches by Egyptian television channels. The ECA said in a statement issued on Sunday that it did not approve broadcasting for any channel. Instead, it emphasised the importance of restoring the spirit of competition within …

Hisham Salah

Unemployment rate in ashwa’yat is 9.9%: CAPMAS, Population Council

The Central Agency for Public Mobilization and Statistics (CAPMAS) and the Population Council announced the results of their survey of young people in the ashwa’yat (informal housing areas) of Greater Cairo during a meeting held on Tuesday. The survey measured the indicators of health, unemployment, migration, and marriage formation. The survey revealed that 44.5% of …

Hisham Salah

Does Egypt’s economic targets line up with its economic reality?

Minister of Finance Amr El-Garhy had said on Sunday that the ministry has set three goals for the country’s budget in the fiscal year (FY) 2017/2018. According to him, the ministry plans to focus on sustainable development, by raising the GDP by 5%, reducing unemployment to 11%, and cutting the national debt to 94% of …

Hisham Salah

Ministries of international cooperation, housing sign agreement with UNDP for Alexandria 2032 strategy

Minister of International Cooperation Sahar Nasr and Minister of Housing Mostafa Madbouly witnessed on Monday the signing of an agreement regarding the participatory strategic urban planning for Alexandria until 2032. The two-year agreement between the Ministry of International Cooperation and the United Nations Development Programme (UNDP) should have been completely planned out by 2016, but …

Hisham Salah

Allegations against local companies may deter appetite for investing in Egypt

One of the first things foreign investors look at before injecting their money into a new country is the legal framework and the amount of risk that may arise once business disputes occur. Looking at Egypt in recent years, several local companies have been faced with accusations and charges regarding their operations. While these disputes …

Hisham Salah

Egypt to receive 2nd tranche of African Development Bank loan

On Monday, the Minister of International Cooperation Sahar Nasr signed an agreement with Leila Mokaddem, resident representative of the African Development Bank (AFDB) to receive $500m as the second tranche of a $1.5bn loan. The loan was agreed on last year. The tranche will be given to Egypt in January 2017, according to Prajesh Bhakta, …

Hisham Salah

Exports of building, construction materials doubled to EGP 41bn in 2016

Egypt’s exports of construction materials has doubled in 2016 to record EGP41.93bn compared to EGP21.93bn during 2015, according to Waleed Jamal Al-Din, president of the Export Council for Building, Refractory and Metallurgy Industries (ECBM). Jamal Al-Din said exports surpassed plans and expectations set by ECBM, adding that they had aimed to increase exports by EGP …

Hisham Salah