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Macroeconomic picture improves, yet progress needs to be made on unemployment, closing housing gap, financial inclusion: OBG Egypt director

Throughout the past three years, Egypt has been through tough but necessary economic reforms, undertaken by the authorities and supported by the International Monetary Fund (IMF). The reforms aim to improve Egypt’s public finances, curb the budget deficit, and get the currency shortage under control, all while achieving sustainable growth. The economic reforms came after …

Mohamed Samir

Sustainable customer analytics essential for Egyptian retailers to maintain competitiveness: Booz Allen Hamilton

Customer analytics investment provides exciting opportunities for the growth and development of retail sector workers in Egypt to help them remain competitive in the region, according to a report by strategy and technology consulting firm Booz Allen Hamilton. The report, titled “Next Generation Retailers: Power Up Your Analytics”, sheds light on how data analytics can …

Reem Hosam El-din

Egypt Year in Review 2015

The year 2015 brought welcome stabilisation and recovery to Egypt, after a difficult post-revolutionary period marked by continued upheaval and sluggish growth. The first part of the year saw a range of encouraging developments, including the completion of the strategically vital Suez Canal expansion, the commitment of more than $35bn in planned foreign investments, closer …

Oxford Business Group

Egypt’s power supply gets an encouraging boost

  By Oxford Business Group A $9bn deal inked in Egypt will give a substantial boost to the country’s electricity generation capacity, helping the government address power shortages and support a growing population and economy. On 3 June, German industrial conglomerate Siemens agreed to a deal to supply gas and wind power plants that will …

Daily News Egypt

Egypt gains momentum in ICT outsourcing

By Oxford Business Group Egypt has long been a cost-competitive destination for offshore services, such as business process outsourcing (BPO), but a spate of new agreements with a number of large investors has given the ICT sector a further boost, with thousands of potential new jobs in the offing. Egypt’s Information Technology Industry Development Agency …

Daily News Egypt

Central Bank of Egypt leans on currency devaluation

By Oxford Business Group A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading. The controlled devaluation of the currency earlier this year from EGP 7.14 to EGP 7.62 to the dollar has …

Daily News Egypt

Egypt looking to mend economy with energy moves

  By Oxford Business Group Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and …

Daily News Egypt

Signs of rebound in Egypt’s tourism sector

By Robert Tashima The government in Egypt is expecting a recovery of its tourism sector by next year after the latest data showed the tide may be turning for an industry hit hard by domestic instability over the past three years. With Egypt’s recent period of relative calm following the May election of President Abdel Fattah …

Daily News Egypt

Misunderstanding Africa

By Robert Tashima   Gold, oil, timber, cocoa: these four words could sum up the essence of African economic development over the 20th century. Investors dug mines, brought in derricks, and chopped down trees, but with few exceptions that was largely it. The impact of this was significant. Per capita GDP declined in the 1980s, …

Daily News Egypt

Competition set to rise in Egypt’s telecoms industry

By Oxford Business Group A new licence system governing Egypt’s fiercely competitive telecoms sector is expected to be rolled out within weeks, paving the way for mobile and fixed-line operators to vie for each other’s business. While the country has a large consumer population, as penetration has passed 100%, telecoms players have faced an increasingly …

Daily News Egypt

Egypt builds upon its outsourcing growth

The local cost advantage is an important factor: labour, land and power are all affordable by international standards. But while workers’ wages are relatively low, the skills base is strong. As well as native Arabic, English is widespread.

Daily News Egypt

Egypt Year in Review 2013

The year was coloured by unrest, with widespread protests against President Mohammed Morsi followed by his removal and the installation of a new interim government, which subsequently saw additional demonstrations.

Daily News Egypt

Egypt: Banks attracting Gulf investors

  By Robert Tashima Despite an uncertain political climate and a sluggish economic recovery, the long-term prospects of Egyptian banks are attracting attention from their Gulf counterparts. Two recently announced acquisitions have brought the sector back into the headlines on a positive note, helping offset a recent ratings downgrade. While the transactions also represent the …

Daily News Egypt

Egypt: Facing economic challenges

By Oxford Business Group CAIRO: The New Year sees a very different Egypt from the one that welcomed the opening of 2011, being in the process of instituting multi-party democracy, while trying to reshape the national economy. However, many hurdles still have to be overcome to ensure social, economic and political stability. 2011 will be remembered …

DNE

Egypt: Taking matters into its own hands

By Oxford Business Group With its recently passed budget for the 2011/12 fiscal year, Egypt has established a revised set of ambitious targets for tackling its public expenditures. Having rebuffed aid offers from several international organizations and countries, the move is a sign that the country will steer clear of a rising budget deficit on its …

DNE

Sharjah: On the radar

By Oxford Business Group The outlook for 2011 is one of correction and consolidation for Sharjah’s real estate sector. The market should slowly start to pick up, though recovery is expected to be modest in the shorter term before gaining momentum. According to data issued by the Sharjah Real Estate Information Service in mid-November, rental …

DNE

Dubai: Building recovery

By Oxford Business Group Dubai’s construction sector is still dealing with the fallout of the global recession. Some segments are experiencing gathering momentum while others may have to look beyond 2011 before demand picks up and confidence returns. An oversupply of residential and commercial properties has resulted in the sector redressing the speed with which …

DNE