10-2-2012
MasterCard Worldwide and INJAZ Al-Arab Announce Joint Collaboration on Entrepreneurship Program
The FINANCIAL — During an event held under the High Patronage Of the Prime Minister H.E. Mr. Najib Mikati, MasterCard Worldwide today announced that the Company is teaming up with INJAZ Al-Arab, a non-profit organization in the Middle East.
February 10,2012
Egypt pins hopes on tourism recovery
CAIRO Egypt hopes to witness a strong recovery in its tourism sector in2012 by improving services and infrastructure while attracting visitorsfrom more diverse parts of the globe, a top tourism official said.
http://www.chinadaily.com.cn/cndy/2012-02/10/content_14573702.htm
February 10,2012-02-12
Standard & Poor’s cuts Egypt’s sovereign rating due to unrest; outlook negative
CAIRO — Ratings agency Standard & Poor’s has pushed Egypt’s sovereign credit ratings deeper into junk status, citing declining foreign reserves and continued unrest.
February 10,2012
Egypt needs $11 billion to fund economic reforms: Finance minister
Egypt needs an infusion of $11 billion over the next two years to fund an ambitious economic reform programme that will restructure tax and energy subsidies, the country’s finance minister said on Thursday.
February 10,2012-
In Egypt’s bread, signs of economic weakness
CAIRO — There is no more potent symbol of Egypt’s economic fragility than the pocket bread that is a staple of life here.
February 10,2012
Turkey’s return to ME affairs welcomed, Egyptian ambassador says
The top Egyptian diplomat in Turkey has said Turkey’s return to the Middle East is welcomed by Egypt and pointed out that both countries’ perspectives and stances are identical on most regional issues, including the ongoing political turmoil in Syria.
February 9,2012
Worldview: How far the U.S., and democracy, have fallen in Egypt
Nothing better illustrates America’s sliding status in today’s Arab world than Egypt’s decision to try 16 Americans who work for pro-democracy groups there.
http://articles.philly.com/2012-02-09/news/31042203_1_egyptian-activists-mubarak-era-tahrir-square
February 9,2012
Egypt: WB Mission – We Trust Economy
At a meeting with Minister of Civil Aviation Hussein Masoud, the WB delegation voiced confidence that the tourist and travel movement in Egypt will go back to normal levels in the coming phase.
http://allafrica.com/stories/201202091099.html\
Febraury 9,2012
Egypt inflation eases slightly, economist warns of stagflation
CAIRO: Egypt’s urban consumer inflation reached 8.6 percent in the year to January, down from 9.6 percent in December, as analysts said the numbers are much lower than expected given the country’s current economic woes.
Febraury 8,2012
Rise of the Brotherhood Won’t Alter Egypt’s Economy Much
The Brotherhood’s political arm, the Freedom and Justice Party, won 47 percent of the seats in the Egyptian parliament in January 2012, and concerns about that accession to power largely concentrate on secondary issues — sartorial restrictions, alcohol prohibition, gender-segregated beaches — leaving little room for serious policy discussion. But the Brotherhood’s economic policies may signify the most profound changes for the country.
http://www.thejakartaglobe.com/opinion/rise-of-the-brotherhood-wont-alter-egypts-economy-much/496448
February 7,2012
Egypt’s net international reserves fall $1.7 billion in January, down 54 pct since end 2010
CAIRO — Egypt’s central bank says the country’s net international reserves dropped by more than $1.7 billion in January, continuing a slide that began in January 2011 with the uprising that ousted former President Hosni Mubarak.
February 7,2012
The MENA 100 Business Plan Competition: Promoting Innovative Entrepreneurship
The competition, which is co-organized by the MENA-OECD Investment Programme, aims to promote entrepreneurship and small- and medium-sized enterprises (SMEs) in the Middle East and North Africa, by mentoring entrepreneurs with innovative ideas to come up with the perfect business plan for their startup or expanding their young enterprises.
February 6,2012
Most Egyptians Oppose U.S. Economic Aid
LOS ANGELES — About 7 in 10 Egyptians surveyed by Gallup in December 2011 oppose U.S. economic aid to Egypt, and a similar percentage opposes the U.S. sending direct aid to civil society groups.
http://www.gallup.com/poll/152471/Egyptians-Oppose-Economic-Aid.aspx
February 6,2012
Ministry: Egypt public-sector profits fell 23% in 2010/11
Total net consolidated profits for Egyptian public-sector companies fell by 23 per cent in 2010/11 to LE3.8 billion for the period, compared to LE4.9 billion the previous year, according to a press release issued Monday by Egypt’s Ministry of Public Sector Affairs.
February 6,2012
Most Egyptians Oppose U.S. Economic Aid
LOS ANGELES — About 7 in 10 Egyptians surveyed by Gallup in December 2011 oppose U.S. economic aid to Egypt, and a similar percentage opposes the U.S. sending direct aid to civil society groups.
http://www.gallup.com/poll/152471/Egyptians-Oppose-Economic-Aid.aspx
February 6,2012
Egypt’s ‘Economic Woes’ Distract From Religious Extremist Reality
As the one-year anniversary of Egypt’s Tahrir Square uprising came and went, many commentators felt obliged to wax positive about the revolution in the country.
February 5,2012
Egypt expects tourist numbers up despite clashes
DUBAI (Reuters) – Egypt’s Ministry of Tourism hopes to see a recovery in tourist numbers to between 12 and 13 million this year, bringing in $11 billion, despite ongoing street violence and more than 70 deaths after a football match riot last week.
http://af.reuters.com/article/investingNews/idAFJOE81403X20120205
February 5,2012
Campaign calls on Egyptian to boycott any products
CAIRO: In protest of the ongoing clashes between security forces and protesters, which have intensified demands for an immediate end to military rule, Egyptian activists have called for a national boycott of army-produced goods and services.
http://thedailynewsegypt.com/economy/campaign-calls-on-egyptians-to-boycott-army-products.html
February 4,2012
Egypt must rebuild economy by building democracy
Another major advance for democratization is the fact that the National Emergency Law, which granted overwhelming powers to the police, was lifted in principle for the first time in about 30 years in the wake of the lower house election.
http://www.yomiuri.co.jp/dy/editorial/T120203005211.htm
February 3,2012
Economic freedom must accompany democracy in Egypt
The latest outbreak of violence in Egypt is a reminder of that country’s halting transition from dictatorship to democracy. The process of democratization in the Arab world that begun with the self-immolation of Tunisian street vendor Mohamed Bouazizi just over a year ago will likely continue,
http://dailycaller.com/2012/02/03/economic-freedom-must-accompany-democracy-in-egypt/
February 2,2012
Finest Event Organizers in the Egyptian Market
Egypt-business.com prepared a survey to help companies select an event organizer. The survey shows the foundation year and the number of events organized throughout the year 2011 for 15 event management companies in Egypt
http://www.pr.com/press-release/387484
Febaruary 2,2012
Many opportunities in Egypt for SA, says ambassador
LAST year’s revolution in Egypt did not affect the operation of the country’s main institutions, and trade and investment opportunities still abounded between South Africa and Africa’s second-biggest economy, Egyptian ambassador Mohamed Zayed said on Wednesday.
http://www.businessday.co.za/articles/Content.aspx?id=164061
February 2,2012
More on How (and Why) to Help Egypt
We’re easily distracted as a nation, especially by violence and intrigue. And so, for the past week, the very serious macroeconomic crisis mounting in Egypt—where the most important political transition since the collapse of the Soviet Union is unfolding—is being pushed out of the headlines by a diplomatic dispute over NGO activities and now an explosion of soccer hooliganism that could have happened as easily in Mexico or Russia or Britain as in Egypt.
http://www.slate.com/blogs/the_reckoning/2012/02/02/more_on_how_and_why_to_help_egypt.html
February 1,2012
Women taking the lead in Egypt’s economic revolution
CAIRO: By bringing progressive ideas to the country’s business development sector, Egyptian female entrepreneurs are taking the lead in social and economic change.
http://thedailynewsegypt.com/economy/women-taking-the-lead-in-egypts-economic-revolution.html
Febaruary 1,2012
My Business: Egyptian mothers on the net
What makes an entrepreneur? BBC Arabic’s Marwa Amer and Tom Santorelli spoke to Yasmine El-Mehairy about setting up an Egyptian website designed specifically for mothers.
http://www.bbc.co.uk/news/business-16824208
February 1,2012
Egypt’s Economy is Dependent on Its Politics
Markets—and investors—have little patience for uncertainty, and since its revolution a year ago, Egypt has experienced one of the most mismanaged democratic transitions in recent memory.
http://www.brookings.edu/opinions/2012/0202_egypt_hamid.aspx
January 31,2012
Egypt”s PM paints bleak picture of economy
Prime Minister Kamal Ganzouri described Tuesday the current economic situation as bad, but stressed that Egypt is able to overcome the crisis and emerge strong.
http://www.kuna.net.kw/ArticleDetails.aspx?id=2218527&language=en
January 31,2012
Islamists to head main economic committees in Egypt parliament
Members of the Freedom and Justice and Nour parties are voted into the top jobs in three main economic advisory bodies
January 30,2012
Google announces 50 startup finalists for its $200,000 seed capital prize
Early last month, Google announced its 200 finalists for the Start with Google (Ebda2) initiative in which it will be giving one lucky Egyptian entrepreneur up to $200,000 in seed capital.
January 30,2012
Egypt’s digital revolution
If there was one surprise outcome of last February’s Egyptian revolution, it was the role of the internet as a catalyst for political change.
http://www.itp.net/587800-egypts-digital-revolution
January 29,2012
IMF loan to Egypt will carry lower interest rate: Ministry official
Future borrowing from the global body will be at 1.12 per cent floating annual rate due to a worldwide drop in interest rates, says ministerial assistant
January 29,2012
Egyptian Stocks Rise to Four-Month High After Peaceful Protests
Egyptian stocks advanced to the highest in more than four months after peaceful protests marking the first anniversary of the uprising that toppled Hosni Mubarak.
January 28,2012
Arab Spring Stumps Davos Investors Year After Egypt Revolt
One year after Egypt knocked global finance off the agenda at the World Economic Forum, Arab officials returning to Davos may struggle to drum up interest in the region.
January 28,2012
Egypt’s tourism sector struggles to revive fortunes
Hurghada, Egypt – The beaches are almost empty and taxi drivers jockey for customers in Egypt’s Red Sea resort of Hurghada, once a bustling city, now desperately struggling to revive its tourism sector a year after the country’s political revolution.
January 27,2012
Arabs to Davos: invest in us, don’t fear us
Leaders of the Arab Spring sought to assure the world’s elite in Davos that the rise of political Islam is not a threat to democracy, and pleaded for help creating jobs and satisfying the hunger of their people for a better life.
http://www.reuters.com/article/2012/01/27/us-davos-arab-spring-idUSTRE80Q0ZN20120127
January 27,2012
Can an Egyptian Virtual Call Center Outprice India?
As local small businesses in Egypt suffer, due to reduced consumer spending during the country’s economic crisis, one entrepreneur is plotting to build a virtual call center that will hedge against the risk of being a local or national company.
http://www.wamda.com/2012/01/can-an-egyptian-virtual-call-center-outprice-india
January 26,2012
Abraaj Capital to Invest $20 Million in Egypt SME Sector
Abraaj Capital Ltd., the Middle East’s largest private-equity firm, plans to invest $20 million in Egypt’s small and medium-sized enterprises, or SMEs, this year despite the political unrest that has been sweeping the region since last year, a senior executive said Thursday.
January 26,2012
Egypt: the key is economics
Interview with Ambassador Aleksey Podtserob, who is currently based with the Institute of Oriental Studies in Moscow, Russia.
http://english.ruvr.ru/2012/01/26/64674697.html
January 26,2012
Egypt’s Economy Will Start to Improve
Egypt’s economy, which has been severely hit by the uprising that ended Hosni Mubarak’s 30-year dictatorship, is likely to start improving by the second half of this year, the chief executive of the country’s largest publicly traded investment bank said Wednesday.
http://blogs.wsj.com/davos/2012/01/26/egypts-economy-will-start-to-improve/?mod=google_news_blog
January 25,2012
Abraaj May Invest in Egyptian, Saudi Arabian Companies
Abraaj Capital Ltd., the Middle East’s biggest private-equity company, is in “advanced stages” of investing $20 million in small and medium-sized Egyptian companies and is also targeting investments in Saudi Arabia.
January 25,2012
Egypt 2012: Time to for a new economic vision
CAIRO: A year after Egyptians took to the streets demanding bread, freedom and social justice, a lack of vision on the government’s part has pushed the economy to a breaking point.
http://thedailynewsegypt.com/economy/egypt-2012-time-to-for-a-new-economic-vision.html
January 25,2012
Teams Pitch Ideas for the People at the Second Startup Weekend Cairo
“Is it better than the original?” That’s the first question we normally ask about the sequel.Startup Weekend Cairo, held from the 19th to 21st January, 2012, at the Technology Innovation and Entrepreneurship Center (TIEC), was no exception
http://www.wamda.com/2012/01/teams-pitch-ideas-for-the-people-at-the-second-startup-weekend-cairo-
January 25,2012
Women Entrepreneurs on the Rise in Egypt: How Heba Hosny Hopes to Fund Social Good
As Egyptians stage a sit-in in Tahrir to honor the anniversary of the uprisings that eventually ousted Hosni Mubarak last year, one entrepreneur is celebrating her birthday- and funneling newfound optimism into a social venture.
January 25,2012
US, Egypt Agree To Improve Trade, Investment In Wake Of Uprising
The U.S. and Egypt agreed Wednesday to take a number of steps to spur trade and investment flows, a year after the uprising began that toppled Hosni Mubarak.
http://online.wsj.com/article/BT-CO-20120125-710914.html
January 24,2012
Egypt’s Economic Crisis: Where Are the Promised Billions and What Will It Take for Investors to Return?
Alarm bells are ringing inside Egypt and outside as the country faces an economic crisis nearly one year after the revolution.
http://www.huffingtonpost.com/carina-kamel/egypt-economic-crisis_b_1224994.html
January 24,2012
Egypt’s gross domestic debt climbs LE50 billion in three months
Egypt’s gross domestic debt climbed to LE1.095 trillion at the end of September, up LE50 billion from June, a monthly bulletin from the Central Bank of Egypt (CBE) said Tuesday.
January 24,2012
What really ruined Egypt’s economy in 2011?
It wasn’t the protests. Not the strikes. Not the revolution. And it definitely wasn’t an unidentified foreign object – the proverbial invisible hand.
http://thedailynewsegypt.com/economy/what-really-ruined-egypts-economy-in-2011.html
January 24,2012
Middle East, North Africa growth set to improve this year
Cairo, Egypt David Rosenberg (The Medi – Economic growth in the Middle East and North Africa will likely hold steady this year, even as the rest of the world economy slows, the International Monetary Fund (IMF) said on Tuesday. However, the region’s relative strength is mainly because 2011 was such a lousy year.
http://gantdaily.com/2012/01/24/middle-east-north-africa-growth-set-to-improve-this-year/
January 23,2012
Good economic prospects for Egypt
HSBC Bank predicted in a report that Egypt will be among the top twenty fastest growing economies in the world by 2050. Other countries on the list include China, India, and the Philippines.
http://www.albawaba.com/business/good-economic-prospects-egypt-409965
January 23,2012
Uprising leaves Egyptians freer, poorer
Mechanic Hany Shaaban heard there was free food on offer in Cairo’s Tahrir Square, so he left his poor neighborhood of Sayda Aisha to mingle with the crowds demanding an end to Hosni Mubarak’s three-decade rule.
http://www.reuters.com/article/2012/01/23/us-egypt-uprising-idUSTRE80M13A20120123
January 23,2012
Abol Fotoh and experts debate future of economy, education
With Egypt’s future in mind, presidential hopeful Abdel Moneim Abol Fotoh along with several political figures and scholars discussed his campaign’s vision and the fate of the economy at Egypt’s International Economic Forum on Sunday.
http://thedailynewsegypt.com/economy/abol-fotouh-and-experts-debate-future-of-economy-education.html
January 23,2012
What is a social entrepreneur?
Social entrepreneurship, like “reinventing capitalism,” has become a buzz word in a society seeking solutions to environmental, economic and financial crisis caused largely by unbridled greed of financial institutions, hedge funds and businessmen who hold that morality has no place in the business world and “greed is good.”
January 22,2012
Campaign slams IMF for ‘illegitimate’ negotiations with Egypt
The International Monetary Fund (IMF) came under fire this week for negotiating a $3.2 billion loan with Egypt’s army council and interim Cabinet, seen by some activists and youth movements as “unrepresentative” of the people.
January 22,2012
Back to the future Investment fundamentals alter in new world economy
Egypt’s Stock Exchange in Cairo, as well as Colombia’s, have been among the best performing stock markets in the world as investors take advantage of emerging economies.
http://www.theprovince.com/business/Back+future/6033843/story.html
January 21,2012
Central Bank of Egypt prepares Mubarak’s full account file for authorities
Amidst media reports that ousted president Hosni Mubarak pocketed Gulf money and transferred it abroad, Egypt’s central bank is preparing evidence to counter the claims
January 20,2012
How Can the Diaspora Boost ICT Development in the Arab World?
In early January 2011, startup accelerator Plug and Play Egypt kicked off its first cycle with investment in six startups.
http://www.wamda.com/2012/01/how-can-the-diaspora-boost-ict-development-in-the-arab-world
January 20,2012
Troubled Japan and Egypt hope to rebound
Egypt and Japan are two countries with the most challenging year ahead in trying to convince travelers that it is OK to return
http://www.ocregister.com/travel/tourism-336431-egypt-visitors.html
January,20,2012
Middle East-based Entrepreneurs Who Made Their Way to Success Against All Odds
Although the times have changed and start-ups these days do not get the same opportunities as did Coca-Cola and Ford, more than a century ago. However, geniuses do not need favours dished out them, they find them and put in the effort to become successful.
http://www.newspakistan.pk/2012/01/20/entrepreneurs-success-odds/
January 19,2012
Islamists look to shake up Egypt stock exchange
Last month, Mahmoud Abbas, a member of the Salafi-led Nour Party, addressed newly elected members of Egypt’s lower house of parliament and journalists in a conference at the Egyptian stock exchange, in an effort to reassure investors that markets will be safe under an Islamist-dominated parliament.
http://www.almasryalyoum.com/en/node/609331
January 19,2012
MIDEAST STOCKS – Factors to watch – Jan 19
Here are factors that may affect Middle East stock markets on Thursday. Reuters has not verified the press reports and does not vouch for their accuracy.
http://af.reuters.com/article/egyptMarketNews/idAFL6E8CJ01B20120119
January 19,2012
Egypt Tourism Receipts Slip Nearly 30 Pct in 2011
Revenues from Egypt’s vital tourism sector plunged almost 30 percent last year, dragged down by the unrest following the ouster of former President Hosni Mubarak, the government said Thursday.
January 19,2012
Initiative seeks to raise money from engineers to support Egyptian economy
Engineers Syndicate members launched a new initiative to raise LE12 billion from engineers working in Gulf countries in order to support the Egyptian economy during 2012
http://www.almasryalyoum.com/en/node/609821
January 18,2012
Egypt entrepreneurs see new dawn post-revolution
A year after Mubarak’s ouster, economic conditions in Egypt remain grim. The risk of a currency devaluation, and continued uncertainty over how much power the military is willing to hand over to a democratic government, are deterring new projects by many large businesses, including foreign investors. At the same time, the new political landscape is encouraging a flowering of entrepreneurial activity among some Egyptians.
http://www.almasryalyoum.com/en/node/608066
January 18,2012
‘Egypt’s economy better within 7 years’
Egyptian economy will, within seven years, be better than the Turkish and Malaysian economies, because of the economic programme of the party which wants to achieve a real developmental renaissance, an official in Freedom and Justice Party (FJP) has said
January 18,2012
Egypt open to trade talks with US: trade minister
Egypt’s trade minister on Tuesday courted badly needed U.S. investment with a promise Cairo would maintain open markets, and said the Egyptian government was open to pursuing free trade talks with the United States.
http://af.reuters.com/article/investingNews/idAFJOE80H00P20120118
January 18,2012
Egypt: Economic Modernization Will Support Democratization
A successful Egyptian transformation to democracy will require not only political reform, but also increased economic opportunities for the Egyptian people
http://allafrica.com/stories/201201191069.html
January 18,2012
FEATURE-Egypt entrepreneurs see new dawn post-Revolution
Two months after mass protests ousted Egyptian president Hosni Mubarak last February, Ahmed Essam resigned from his job at a well-established software company to set up a six-person venture developing applications for smart phones.
http://www.reuters.com/article/2012/01/18/egypt-entrepreneurs-idUSL6E8C501620120118
January 18,2012
Students and pros compete for best app
ver the weekend, more than one hundred entrepreneurs gathered in Griffin Hall’s Digitorium to design their own companies and pit them against each other in an event known as Startup Weekend, which stopped by Northern Kentucky University on its journey around the world.
http://www.thenortherner.com/news/2012/01/18/students-and-pros-compete-for-best-app/
January 17,2012
Diplomatic overtures: Egyptian envoy wants to cement ties with Pakistan through art, trade
Egypt’s new ambassador wants to strengthen relationship with Pakistan through promotion of art and culture. He intends to promote his country’s art through his personal programme.
January 17,2012
IMF loan not enough to lift Egyptian economy, says Fitch Ratings
The rating agency says an IMF facility would only be sufficient if it catalyses additional international support for the country’s economy
January 17,2012
Market Report: Egypt stocks up 1.2 pct on IMF visit
Bourse sees across-the-board gains as foreign investors take renewed loan negotiations as a sign the country’s economy is getting back on track
January 17,2012
HSBC report: Egypt economy to rank 20th in world by 2050
The size of Egypt’s economy will rank 20th in the world by 2050, according to a report issued by international investment bank HSBC on the economic situation of the Middle East and North Africa region.
http://www.almasryalyoum.com/en/node/605566
January 17,2012
Egypt and Libya with more industrial cooperation
The Arab Organization for Industrial Development and Metallurgy met in Egypt on Monday for the second time to discuss the country’s industrial sector in the “post-revolution” stage.
http://www.albawaba.com/egypt-libya-eye-more-industrial-cooperation-409331
January 17,2012
Egyptian Accelerator Flat6Labs Graduates First Cycle of Tech Startups
Egypt’s newest seed stage accelerator, Flat6Labs, has graduated its first group of startups, culminating in a Demo Day at their Cairo center on Sunday.
http://www.wamda.com/2012/01/egyptian-accelerator-flat6labs-graduates-first-cycle-of-tech-startups
January 16,2012
Arab country officials meet in Silicon Valley
Monday, officials from 11 Arab nations met in Silicon Valley looking for ideas on how to best build technology in their countries.
http://abclocal.go.com/kgo/story?section=news/business&id=8507929
January 16,2012
Fuel shortage in Egypt leads to rising tensions
A gasoline shortage in Egypt has led to long queues at fuel stations and raised suspicions among drivers that it may be a prelude to a cut in subsidies, despite official reassurances that there is no plan to hike prices.
http://www.reuters.com/article/2012/01/16/us-egypt-fuel-shortage-idUSTRE80F15920120116
January 16,2012
Islamists threaten to radicalize Egyptian tourism
Despite the economy reeling and political turmoil very much a feature of recent Egyptian history, Islamic parties want to make tourism stricter by reducing the rights of visitors to behave as they wish.
http://www.tourism-review.com/islamists-threaten-to-radicalize-egyptian-tourism-news3071
January 15,2012
Egypt to ask US for clear position on economic assistance
Egypt will ask the US government to clarify its stance on support for the Egyptian economy, Minister of Industry and Foreign Trade Mahmoud Issa has said, adding that the US is aware of how much it has benefited from its strategic partnership with Egypt.
http://www.almasryalyoum.com/en/node/602186
January 15,2012
Egypt Suez Canal revenues up in December
Egyptian government figures show that revenues from the Suez Canal climbed almost 4.8 percent year-on-year in December.
http://www.cbsnews.com/8301-505245_162-57359407/egypt-suez-canal-revenues-up-in-december/
January 15,2012
Egypt reveals ‘economic constitution’ ahead of IMF visit
For the first time in the country’s history, the Federation of Egyptian Chambers released on Saturday an economic constitution, just a day ahead of a planned IMF visit to Egypt.
http://thedailynewsegypt.com/economy/egypt-reveals-economic-constitution-ahead-of-imf-visit.html
January 14,2012
Year Later, U.S. Can Nurture Arab Spring’s Economic Roots: View
Saturday marks one year since uprisings in the Arab world for the first time extirpated an autocrat: Tunisia’s Zine al-Abidine Ben Ali.
January 14,2012
Minister: IMF mission aims to get acquainted with developments of Egyptian economy
A few hours ahead of the arrival of the mission of the International Monetary Fund (IMF) in Egypt, indicators of the Egyptian economy performance have confirmed a big improvement in exports, investment and public debt during the past few months
http://www.sis.gov.eg/En/Story.aspx?sid=59914
January 14,2012
Egypt government finds surprising praise for economy hours before IMF visit
After weeks of gloomy pronouncements, officials admit foreign investment and exports are improving. It could be a government move to build support for a controversial loan, says former finance minister
January 14,2012
5 Ways Egypt Can Avoid Becoming Pakistan
When Hosni Mubarak resigned from the Egyptian presidency in February, many commentators asked whether Pakistan–an unstable Muslim country outside the Arab Middle East–would go the way of Egypt, experiencing what was then thought to be revolutionary change.
January 12,2012
A figure in Egypt religious party says focus must be economy
The Muslim Brotherhood is expected to win more than 40% of legislative seats, transforming it from state enemy to power center. It seeks to dispel fears that Islamists will tilt Egypt towardsharia.
http://www.latimes.com/news/nationworld/world/middleeast/la-fg-egypt-brotherhood-20120113,0,1115134.story
January12,2012
IMF confirms sending mission to Egypt next week to discuss possible financial support
The International Monetary Fund confirmed Thursday it was sending a mission to Egypt to discuss possible financial aid to the country,
January 12,2012
Economy: Aquino (Assafrica), companies must adapt to changes
If entrepreneurs want to emerge from stagnation and save Italy from the abyss, they must adapt to major changes. “A real entrepreneur is one who is not afraid of change, but rather adapts to it and knows how to take risks”.
http://www.ansamed.info/ansamed/en/news/nations/oman/2012/01/12/visualizza_new.html_43310681.html
January 11,2012
BasharJobs Celebrates One Year of Transforming Job Recruitment in Egypt
Online job recruitment in the Middle East is a hassle. Yet offline job recruitment is expensive. This conundrum has long frustrated employers in the Middle East, especially startups with small budgets.
http://www.wamda.com/2012/01/basharjobs-celebrates-one-year-of-transforming-job-recruitment-in-egypt
January 11,2011
Egypt Goes Back to the IMF for Loan
CAIRO—Egypt will return to negotiations with the International Monetary Fund next week for a $3 billion loan it rejected last year, a government minister said, in an effort to ease economic woes that threaten further instability in the country.
http://online.wsj.com/article/SB10001424052970203436904577152732158403446.html?mod=googlenews_wsj
January 11,2012
Egypt consumer confidence rises in December: Report
Consumer optimism increases at year’s end on El-Ganzouri’s appointment to premiership, according to Cabinet report
January 10,2012
Padma-Shri Dr. Pritam Singh Joins on the Board of Governors of IFIM Business School
IFIM B-School takes pride in sharing this moment of gratification with all its stakeholders that the Management Guru and erstwhile Director of MDI and IIM- Lucknow Padma-Shri Dr. Pritam Singh who currently holds the command as the Director General of IMI, New Delhi, has graciously agreed to be a member of Board of Governors of the B- School.
http://www.sbwire.com/press-releases/sbwire-122033.htm
January 10,2012
Economy will recover once security is restored, say experts
Economists have forecast that the Egyptian economy will recover once the security situation in Egypt returns to normal.
http://www.almasryalyoum.com/en/node/594881
January 10,2012
US to offer more Egyptian companies duty-free access to American market
Embassy unveils plans to widen current import rules for Egypt producers saying it will help ‘increase prosperity and employment’
January 10,2012
US ambassador: We fully support the Egyptian economy
The US is helping the Egyptian economy survive in this difficult time and be able to compete with other economies, US Ambassador Anne Patterson said Monday, noting that Washington is committed to a strategic partnership with Egypt, especially regarding trade.
http://www.almasryalyoum.com/en/node/593031
January 10,2012
Egypt’s agreement with IMF gives country credibility: Minister
Egypt and the IMF will discuss an economic programme that includes a cut in energy subsidies, diversification of debt sources and more efficient tax collection
January 9,2012
The Unexpected Early Winners of the Arab Spring
After toppling long-standing regimes, destabilizing others and grabbing the world’s attention, the Arab Spring’s protestors most likely remain amazed at the far-reaching effects of their actions in early 2011.
http://knowledge.wharton.upenn.edu/arabic/article.cfm?articleid=2765&language_id=1
January 9,2012
Serious Measures to Finance Faltering Factories, Support Exports
Prime Minister, Dr. Kamal Al-Ganzoury held a meeting on 8/1/2012 on cleaning committee and faltering factories.
http://allafrica.com/stories/201201091718.html
January 8,2012
Weekend helps startups establish a ‘biz beachhead’
Holding a weekend gathering of entrepreneurs to hatch several businesses in less than three days may sound like a gimmick, but John Rumery saysStartup Weekend West Michigan is the real deal.
January 8,2012
Rising Spending Power Energizes Egypt’s Domestic Tourism
Increasing per capita income, which will grow further phenomenally in the years to come, is encouraging the domestic tourism segment of the Egyptian tourism industry, says RNCOS.
http://www.sbwire.com/press-releases/sbwire-121585.htm
January8,2012
IMF delegation to discuss loan in Egypt in mid-January
An IMF delegation will visit Egypt in mid-January to discuss a $3.2-billion loan to Cairo, the finance minister told the Al-Ahram weekly on Sunday.
http://en.ria.ru/world/20120108/170670309.html
January 8,2012
ElBaradei unveils own crisis plan for Egypt’s economy
Presidential candidate Mohamed ElBaradei has outlined a strategy for Egypt’s government to follow to lift the country out of economic crisis.
http://www.almasryalyoum.com/en/node/590216
January 7,2012
Egypt tourism receipts slip nearly 30 pct in 2011
Revenues from Egypt’s vital tourism sector plunged almost 30 percent last year, dragged down by the unrest following the ouster of former President Hosni Mubarak, the government said Thursday.
http://www.lasvegassun.com/news/2012/jan/07/ml-egypt-economy/
January 5,2012
QNet: Not all pyramids make money for Egypt
“Let’s face it – by the time you have financial security in your nine-to-five job, you’ll be too old to enjoy the benefits.”
January 5,2012
Egypt Foreign Currency Reserves Plunge as Bond Yields Soar to Record High
Egypt’s international reserves (EGIRES) fell for a 12th month in December, sending bond yields (JPSSGEGY) to a record high and fueling investor concerns about a currency devaluation
January 4,2012
The greatest threat to Egypt’s revolution: money
Egypt may be stumbling toward democracy, but with the economy failing and state coffers drained, a lack of funds may yet undo the gains of the past year.
January 4,2012
The greatest threat to Egypt’s revolution: money
Egypt may be stumbling toward democracy, but with the economy failing and state coffers drained, a lack of funds may yet undo the gains of the past year.
January 3,2012
Saving Vocational Education in a New Arab World
While rampant unemployment was one of the primary catalysts of the Arab Spring, the unstable state of sweeping political reform has actually decreased their chances for employment in the near future.
http://knowledge.wharton.upenn.edu/article.cfm?articleid=2916
January 3,2012
Green shoots need nurturing
During the past year, the Arab Spring has inspired a new wave of budding entrepreneurs.
But some aspiring business owners are still finding it tough.
January 3,2012
Egypt FinMin says to keep 2011/12 deficit on target
Egypt will maintain its budget deficit at 8.6 percent of output for this financial year, its finance minister said on Tuesday, as another minister was quoted as saying a visit from the IMF planned for January would be delayed for a few weeks.
http://af.reuters.com/article/investingNews/idAFJOE80203D20120103
January 2, 2012
America’s warning to Egypt
The current or the coming Egyptian government has to realize that the international game led by Washington is about to be over and that new powers are being reshaped.
http://english.alarabiya.net/views/2012/01/02/185931.html
January 2, 2012
S Jewelry: Recycled beauty
Sara Kouedi is the new face on the jewelry block — and she’s one of the first recycled jewelry designers in Egypt.
The Faculty of Fine Arts graduate left architecture and started her design career a couple of years ago with the “Cobre Collection.” Kouedi stands out with her simple design concept and her use of recycled materials.
http://www.almasryalyoum.com/en/node/580021
January 1,2012
Demand for unskilled Egyptian labour rises, highly educated labour falls in 2011
The index for unskilled Egyptian labour increased 6.2 per cent in November 2011 compared to last year, according to labour market report
December 31,2011
A year in review: After a tough year, Egypt’s economic future still uncertain
In 2011, the Egyptian economy took a pummeling from the revolution. In 2012, it looks like it will be coming to terms with a new political reality.
http://www.almasryalyoum.com/en/node/576741
Decembere 31,2011
Cigarette smuggling hits Egypt’s economy by LE3 billion annually
Egypt’s economy faces a hit of about LE3 billion ($500 million) yearly, with the smuggling of 17 billion cigarettes to the domestic market, according to a report reviewed by Egyptian Minister of Industry and Foreign Trade Mahmoud Eissa and Minister of Supplies and Domestic Trade Goda Abdel Khalek on Friday.
December 29,2011
Blurred vision
It is said that the first casualty in times of war and conflict is truth. Media coverage often serves the interests of those behind the outlets. In Egypt, the unclear vision of those making economic plans adds to an already murky scene.
http://weekly.ahram.org.eg/2011/1078/ec11.htm
December 28,2011
Chengdu Impression seminar held in Pingleancient town
National Friendship Award winners, overseas Chinese famous bloggers, local well-knownentrepreneurs along with executives from Forbes Asia were all in attendance. They talkedabout the livability of Chengdu and the planning prospects of the Tianfu New Area of Chengducity.
http://www.chinadaily.com.cn/regional/2011-12/28/content_14343478.htm
December 28,2011
Endeavor defies turbulent economy, adds 8 companies to its network
Despite one of the most turbulent years for Egypt’s businesses, Endeavor, a global movement which aims to catalyze long-term economic growth for entrepreneurs, selected eight high-impact companies to join their network this year.
December 28,2011
Top tech successes and failures of 2011
Successes1. Rise of Aussie tech entrepreneurs2. Rise of the tablets3. Power of individuals4. Use of social media for citizen uprisings5. Kids making cash on iTunesFailures1. Data breaches2. Vodafone’s network3. Banks’ outages4. Online anonymity debate5. Slow death of RIM Technological successes 1. Rise of Aussie tech entrepreneurs
December 27,2011
Genuine irreversible reform in Egypt will take time: UK minister
Taken by surprise by the Arab Spring, British Minister Alistair Burt tells Ahram Online how opinions on the Middle East are being revised in the new political reality
December 29,2011
In Katrina’s Wake, New Orleans Enjoys Startup Boom
New Orleans has long been known as one of America’s hardest luck cities, struggling over the years with poverty, crime and corruption and tragic disaster. But the city’s darkest days have sparked a surprising new entrepreneurial spirit.
December 27,2011
Egypt’s sinking economy belongs to the Islamists now
The political turmoil that has gripped Egypt for much of the past eleven months has distracted from the most critical question facing Egypt today: Can the Muslim Brotherhood, which is poised to lead Egypt’s emerging civilian government, fix an economy that is in far worse condition than when the uprising began last January?
December 27,2011
Islamists Vow Support for Egypt Economy
Showing their support for the country’s stumbling stock market, Egypt’s political powers, including Islamists, have thrown their weight behind boosting the nation’s economy.
http://www.onislam.net/english/news/africa/455155-egypts-islamists-support-halal-exchange.html
December 27,2011
IMF says expects January talks with Egypt
The International Monetary Fund (IMF) said on Tuesday it planned to meet with Egyptian authorities to discuss the country’s economic problems but added that any funding would have to be based on benchmarks that had broad political support.
http://www.reuters.com/article/2011/12/27/us-egypt-imf-idUSTRE7BQ0ZS20111227
December 27,2011
Arab Protests Resulting in Economic Difficulties
The anti-government protests erupting in the Arab countries early this year have brought to the Middle East and North Africa a political change, in which the veteran rulers in Tunisia, Egypt and Libya have been toppled, the Yemeni president was forced to sign away his power, and Syria is still grappling with the nearly nine months of unrest.
http://english.cri.cn/6966/2011/12/27/2701s673379.htm
December 26,2011
Egypt economy grows by 0.2 pct, down on previous quarter
The drop in the growth rate is driven by contraction of tourism, construction and manufacturing industries while domestic consumption prevented the economy from shrinking
December 25,2011
Egypt Economy Slows as Turmoil Takes Toll
Egypt’s economic growth slowed in the first quarter of the fiscal year as the nation’s worst political crisis in at least three decades eroded income from tourism, manufacturing and construction.
http://www.bloomberg.com/news/2011-12-25/egypt-economy-slows-as-turmoil-takes-toll.html
December 25,2011
Egypt’s budget deficit expected to surge to 11.7 pct according to ministerial committee
Budget deficit could go up to LE182 billion, 11.7 per cent of GDP, which entails a funding gap of some $12 billion; forcing Egypt to resort to foreign borrowing
December 24,2011
The army and the economy in Egypt
Should the production of pasta, mineral water, butane gas cylinders and gas station services qualify as classified military secrets? And does discussing these enterprises in public pass as a crime of high treason? The leaders of the Egyptian armed forces believe the answer is “yes.”
http://www.almasryalyoum.com/en/node/566416
December 23,2011
Analysis: Egypt may need up to $15 bln from IMF to avoid crunch
Egypt has little choice but to return to the IMF to help it find up to $15 billion to stave off a full-blown financial crisis, but the ruling army seems to be stalling to avoid blame for approaching a foreign institution for cash on its watch.
http://www.chicagotribune.com/news/sns-rt-us-egypt-economytre7bm0iw-20111223,0,271416.story
December 21,2011
From Tahrir to Trade: Gaining International Economic Support
Not only does the lethal action the world has witnessed against unarmed demonstrators shift attention away from the electoral process and the political transition, but it further delays prospects for a recovery of Egypt’s economy—which is rapidly deteriorating.
http://carnegieendowment.org/sada/2011/12/21/us-economic-policy-in-post-election-egypt/8i9u
December 21,2011
Political unrest pushes Egypt towards economic meltdown
While clashes continue in the centre of Cairo, Egypt is headed towards a major financial and economic crisis.
http://www.bbc.co.uk/news/world-middle-east-16277206
December 20,2011
Egypt’s economy stretches to breaking point
The housewives and breadwinners stepping out of a Cairo supermarket with bags of groceries agreed on one thing. “The prices are very high,” Sabah Fehmi, 58, said earlier this month. “The economy has been very bad after the revolution.”
http://www.washingtonpost.com/world/middle_east/egypts-economy-stretches-to-breaking-point/2011/12/14/gIQAM7rq6O_story.html
December 20,2011
Egypt – A major player in information economy
a recent report by the UN Conference on Trade and Development (UNCTAD) stated that Egypt “is poised to emerge as a major player in the information economy”, Global Arab Network reports according to OBG.
December 20,2011
Egypt’s growing economic crisis
With the right policy signals, and by stemming the rise in prices and flight of foreign capital, Egypt can restore a measure of stability, encourage foreign and domestic private-sector investment and a return of tourism, and turn its downward spiral into a virtuous circle.
http://shadow.foreignpolicy.com/posts/2011/12/20/egypts_growing_economic_crisis
December 19,2011
Egypt Economy Falters as Cairo Clashes Leave 11 People Dead
Clashes between Egyptian protesters and the army threatened to further undermine the ailing economy, as the benchmark index slumped the most in almost a month and the country missed its target on the sale of Treasury bills.
December 18,2011
Shops lower prices for ‘Buy Egypt’ day, but benefits are doubted
In an attempt to spur the local economy from within, 16 December was dubbed “Buy Egyptian Day” by various business and government officials. Shops offered 5 to 10 percent off Egyptian-made goods, from fine men’s ties to furniture and rugs.
http://www.almasryalyoum.com/en/node/555836
December 17,2011
The economic forces behind a revolutionary spring
Cairo on Friday was a tableau of bloodied faces, firebombs and rocks, club-swinging soldiers and turbulent street battles. If this year began with a simple arithmetic of immovable protesters facing down a dictatorship, it is ending with a more complicated geometry involving a power-wielding army, resurgent Islamists and humiliated protesters.
December 16,2011
Picking up – Egypt attracting international attention and investment
Continuing to attract international attention and investment, Egypt’s real estate sector is performing well in what has been a turbulent year for the country’s economy.
http://www.english.globalarabnetwork.com/2011121612292/Economics/picking-up-egypt-attracting-international-attention-and-investment.html
December 15,2011
African entrepreneurs win UN-backed award for eco-friendly initiatives
A company that transforms groundnut shells into fuel briquettes in Gambia and a business in Kenya where women produce aloe-based skin care products are among this year’s winners of a United Nations-backed award recognizing projects that help promote sustainable development.
http://www.un.org/apps/news/story.asp?NewsID=40739&Cr=sustainable+development&Cr1
December 15,2011
Is ‘Buy Egyptian’ enough to alleviate economic pains?
In a move to push consumers to buy Egyptian products, companies, manufacturers and service providers issued advertisements for discounts on sales on Dec. 16 as part of the ‘Buy Egyptian’ campaign, first announced by television presenter Amr Adib.
http://thedailynewsegypt.com/economy/is-buy-egyptian-enough-to-alleviate-economic-pains.html
December 14,2011
Aussie Camel Scheme Gives Investors the Hump
Turmoil in Egypt has forced a delay in the plans of one entrepreneur Down Under to export Australian camel meat to the Arab world.
December 14,2011
Young Egyptians use Facebook, coffee to bring religions together
A group in Cairo is using a Facebook page to unite Egypt’s different religions at a local coffeehouse in the upper-class suburb of Maadi.
http://edition.cnn.com/2011/12/14/world/africa/cairo-coffeehouse-salafism/
December 13,2011
Egypt strikes a patriotic note to improve economy
It’s no secret that Egypt’s economy is struggling in the post-revolution period with both foreign investment and tourism, two main pillars, taking a hard hit.
December 12, 2011
Egypt’s economy much worse six months after Arab Spring takeover
Egypt’s new interim prime minister broke into tears in front of journalists on Sunday as he spoke about the state of the country’s economy, saying it was “worse than anyone imagines.”
December 12,2011
Why Egypt’s Economy Matters
Egypt’s declining reserves and looming currency crisis could complicate the country’s already tenuous political transition
http://www.theatlantic.com/international/archive/2011/12/why-egypts-economy-matters/249718/
December 12,2011
Egypt Pound Drops to 2004 Lows After Premier Warns on Economy
Egypt’s pound weakened to a seven- year lows after Prime Minister Kamal el-Ganzouri said the country’s economic situation is worse than expected.
http://www.businessweek.com/news/2011-12-12/egypt-pound-drops-to-2004-lows-after-premier-warns-on-economy.html
December 12,2011
Egypt Shares Fall Most in Three Weeks After PM’s Economy Warning
Egyptian shares declined the most in almost three weeks after Prime Minister Kamal el-Ganzouri said austerity measures may be required to counter a deterioration of the economy.
December 11,2011
PM tells Egyptians austerity needed to help economy
The prime minister told Egyptians on Sunday that the economic situation was worse than anyone imagined and that there was a need for austerity to rein in the burgeoning budget deficit.
http://af.reuters.com/article/investingNews/idAFJOE7BA05Q20111211
December 11,2011
Helping the Maghreb: A Look at How Entrepreneurship and Innovation Will Lead To Future Job Creation in North Africa
“Today, the opportunities, first for the regional market of the Maghreb, then for the extension to all of North Africa and the Middle East, and finally to the entire world, are now more accessible and broader than in the earlier phases of industrial development,” Abetti said.
December 11,2011
Tearful Egyptian prime minister says economy ‘worse than anyone imagines’
Egypt’s new interim prime minister broke into tears in front of journalists on Sunday as he spoke about the state of the country’s economy, saying it was “worse than anyone imagines.”
December 10,2011
Arab stocks steady as impact of euro zone crisis retreats
Arab stock markets, except the Egyptian bourse, rallied last week as investors became less affected by the fallout of the euro zone debt crisis, financial analysts said Friday.
http://arabnews.com/economy/article545643.ece
December 9 ,2011
Will a New Economic Equilibrium Emerge from the Arab Spring?
Numerous emerging parties are vying for status, while the traditional powers attempt to preserve the status quo. The challenge now is how the newcomers to the decision-making process can form a coalition, reach a new equilibrium, and achieve the economic growth that can help solve their countries’ problems.
http://carnegieendowment.org/2011/12/09/will-new-economic-equilibrium-emerge-from-arab-spring/84yp\
December 8 ,2011
Egypt stocks fall as Islamist gains put focus on banks
Egypt’s benchmark index declined as the formation of a new Cabinet was overshadowed by pessimism over the economy and fears that the success of Islamist parties in the first round of an election increased risk for the banking sector.
December 8 ,2011
Has Egypt’s Revolution left women behind?
Millions of women were among the 52 percent of eligible voters who cast ballots in Egypt’s parliamentary elections this week, but preliminary results suggest that Egypt’s first popularly elected legislature since the revolution might not include a single female face
http://mideast.foreignpolicy.com/posts/2011/12/08/has_egypts_revolution_left_women_behind
December 8 ,2011
Egypt army only wants foreign loans in extreme need
Egypt’s army said it has not accepted a $3.2 billion financing facility from the International Monetary Fund because it did not want to build up debts while it was in power for a transitional period.
http://af.reuters.com/article/commoditiesNews/idAFL5E7N74PE20111208
December 7,2011
Economy in dire straits
CAIRO – Egypt has suffered huge financial losses as a result of low foreign investments in the light of a security vacuum, the suspension of production in some plants, strikes, sit-ins and protests in addition to a cash reserve deficit. These factors led the Central Bank of Egypt to raise the interest on deposit revenues.
http://213.158.162.45/~egyptian/index.php?action=news&id=22605&title=Economy%20in%20dire%20straits
December 6 ,2011
Egypt’s electoral road to reform
The immediate lesson emerging from Egypt’s historic first-round electoral process is that the eventual victor has no alternative but to lead an inclusive power-sharing government of national unity.
http://thehill.com/blogs/congress-blog/foreign-policy/197569-egypts-electoral-road-to-reform
December 5,2011
Entrepreneurship Requires Free Speech, Free Thinking – Biden
Washington — Governments must allow their people to speak and think freely if they want to encourage entrepreneurship and the economic rewards it can bring to their societies, Vice President Biden said, arguing that the most valuable resource on earth is the human mind.
http://allafrica.com/stories/201112060443.html
December 5,2011
Egyptians spending more on food and housing, less on education: Survey
Latest official figures show almost half of Egyptians are finding it hard to make ends meet on a monthly basis, spending more than two thirds of their income on food and housing
December 4 ,2011
Egypt’s army pumps $1 billion of own money into central bank, refuses foreign aid
Egypt’s troubled financial picture has prompted the ruling military to redirect US$1 billion of its money into state coffers.
November 4,2011
Market Report: Egypt’s Bourse slips 0.4 per cent on foreign reserves fears
Egyptian stocks slipped back into the doldrums Sunday after a dramatic week of dips and rises as news about the country’s foreign reserves prompted cautious, defensive trade.
December 3, 2011
Turkey: Biden tells entrepreneurs that democracy spurs economic innovation
The Second Global Entrepreneurship Summit is taking place at Istanbul Harbiye Convention Center between December 3 and 6 under the theme of “Entrepreneurship, Values and Development: A Global Agenda”.
December 3,2011
US vice president attends Entrepreneurship Summit in Istanbul
Income per capita had a significant rise in Turkey in the mentioned period, Biden said during the Second Global Entrepreneurship Summit in Istanbul.
http://www.worldbulletin.net/?aType=haber&ArticleID=82512
December 2,2011
SCAF: Egypt has refused foreign aid with political strings attached
Egypt has refused financial aid offers from the Gulf and other foreign countries because political conditions have been attached, member of the Supreme Council of the Armed Forces (SCAF) Major General Mahmoud Nasr said during a SCAF seminar Thursday.
http://www.almasryalyoum.com/en/node/530486
December 1,2011
Can the Muslim Brotherhood fix Egypt’s economy?
CAIRO, Egypt — Egypt’s official election results for the first round of the recent parliamentary vote have been delayed until Friday because of the record turnout, but early indicators already point to a big win for the country’s Islamist groups.
December 1,2011
Egypt’s Economy Reels as Capital Flees
Political unrest is hurting Egypt’s economy: GDP is falling, factories are closing, and the nation’s finances are worsening
http://www.businessweek.com/magazine/egypts-economy-reels-as-capital-flees-12012011.html
December 1,2011
Egypt stock index extends gains while doubts over sustainability run high
Egypt’s benchmark stock index extended its gains for a third consecutive day Thursday after landmark parliamentary elections passed relatively peacefully. Few, however, expected the rally to endure amid the country’s lingering political uncertainty and its growing economic problems.
http://www.washingtonpost.com/business/economy/egypt-stock-index-extends-gains-for-3rd-day-after-landmark-parliamentary-vote/2011/12/01/gIQANJtCGO_story.html
November 30,2011
Looking eastward after the Arab Spring
Today, the question facing a region living in the shadow a revolution is, “what next?” The Arab Spring took the world by surprise and it is therefore unsurprising that detailed plans for what to do next do not exist.
http://www.thejakartapost.com/news/2011/11/29/looking-eastward-after-arab-spring.html
November 30,2011
As Egyptians vote, economic policies remain murky
Ahead of the polls, parliamentary candidates laid out their economic visions for Egypt during the transition to democracy. But while many tout “social justice” as their main goal, what’s less clear is how this will be achieved as the current focus is more on political concerns over drafting the constitution.
November 30, 2011
From Arab Spring to economic winter?
The scope of foreign investments for the entire region has dropped by some 83 percent, from over $20 billion to less than $5 billion, and that the expected growth in Egypt, according to the World Bank, will be no more than 1.2 percent, as compared to the country’s economic growth under Mubarak’s reign, which reached 5.5 percent during his last year in office.
http://www.haaretz.com/print-edition/features/from-arab-spring-to-economic-winter-1.398576
November 29,2011
Let women realize full potential
The former Canadian Foreign Minister Pierre Pettigrew was possibly the first to state that the era of globalization would count women among its winners.
http://www.koreatimes.co.kr/www/news/opinon/2011/11/137_99774.html
November 29,2011
Volatility in the Egyptian Stock Market
Despite clashes in Egypt last week that resulted in over 40 deaths, Egypt’s first parliamentary election since the Mubarak era is progressing surprisingly smoothly.The Egyptian stock market has also moved in tandem with the country’s recent political developments
http://blogs.cfr.org/coleman/2011/11/29/volatility-in-the-egyptian-stock-market/
November 29,2011
calm voting soothes markets
After a week of dire predictions and market turmoil, Egypt’s equity markets saw their biggest single day rise in almost two years on Tuesday. The benchmark EGX index jumped 5.5 per cent as two days of peaceful polling gave investors hope that a new government could be formed and power transferred smoothly from the ruling military council.
http://blogs.ft.com/beyond-brics/2011/11/29/egypt-calm-voting-soothes-markets/
November 28,2011
‘Azerbaijan considers necessary to boost economic relations with Egypt’
Egyptian ‘Nil’ satellite TV channel broadcast two-hour long program about Azerbaijan with the attendance of Azerbaijani ambassador Shahin Abdullayev.
http://news.az/articles/economy/49643
November 27,2011
Political uncertainty, unrest drag economy down
As a sit-in demanding the Supreme Council of the Armed Forces hand over power to civilians enters its ninth day, experts predict that as the country’s government fails to put in place the needed economic reforms, political and social unrest will keep intensifying.
http://thedailynewsegypt.com/economy/political-uncertainty-unrest-drag-economy-down.html
November 27, 2011
Political transitions scare Arab investors
The Tadawul All-Share Index slipped 0.47 per cent, taking losses on the region’s largest bourse to 8.5 per cent so far this year. That followed intense selling pressure in Egypt last week.
http://www.thenational.ae/thenationalconversation/industry-insights/economics/political-transitions-scare-arab-investors
November 26, 2011
Economic decline continues
Egypt will soon start knocking impatiently at the doors of the World Bank and International Monetary Fund, begging for urgent loans to help its economy that has been declining drastically since the January 25 revolution.
November 26,2011
Egypt Protests Send Economy In to Crisis
The ongoing public unrest in Egypt is now threatening to devastate the country’s economy and turn into a full-bore financial crisis.
http://www.newser.com/story/134122/egypt-protests-send-economy-into-crisis.html
November 25,2011
Egyptian Party Head Says They Admire Turkey’s Experiences on Economy
An Egyptian party head has said that they admired Turkey’s experiences on economy and democracy.
November 24,2011
Standard & Poor’s cuts Egypt sovereign rating on political crisis
Ratings agency Standard & Poor’s on Thursday pushed Egypt’s sovereign credit ratings deeper into junk status, citing the country’s dire political and economic situation and the increased risk of civil strife.
November 24,2011
Tear-gassing the economy
Following new clashes in Tahrir Square in Cairo, stock market indices went into free fall.the main tracker of Egyptian stocks, declined to its lowest level in 32 months on Monday and Tuesday.
http://weekly.ahram.org.eg/2011/1073/eg42.htm
November 24,2011
Egypt’s central bank mulls slight rise in interest rates
The Central Bank may raise interest rates when it meets later Thursday, say experts, as concerns grow over Egypt’s economic stability.
November 24,2011
Borrowing costs surge amid further Egypt unrest
Egypt’s borrowing costs surged to their highest level yesterday since the unrest in January as a second wave of protests hamper the country’s ability to address its pressing financial needs and risk a deterioration in the economy.
http://www.thenational.ae/business/economy/borrowing-costs-surge-amid-further-egypt-unrest
November 24,2011
Activist: Jobs creation starts with youth entrepreneurship
To reduce youth unemployment, training and education might not be enough, turning young people into entrepreneurs is the solution, Peter Matjašič, president of the European Youth Forum, told EurActiv in an interview.
November 21,2011
Egyptian protests drive UAE markets down
The UAE’s markets are in retreat this morning as fresh protests in Egypt weigh on stocks including Emaar Properties, the emirate’s biggest property developer.
http://www.thenational.ae/business/markets/egyptian-protests-drive-uae-markets-down
November 21,2011
Spillover of global economic turmoil further stress on Egypt, says economist
| The European sovereign and banking crises as well as the American fiscal stalemate will most acutely impact Egypt, given the implications on global growth, Citigroup chief economist Willem Buiter said Sunday. |
November 21,2011
Egypt finance risk, political woe may prove toxic
Egypt’s plans to transition into a full democracy following the ouster of President Hosni Mubarak earlier this year have been marred by tensions between the military and political forces, raising concerns about the prospects for the nation’s economy.
http://www.marketwatch.com/story/egypt-finance-risk-political-woe-may-prove-toxic-2011-11-21
November 20, 2011
Egypt set to negotiate IMF loan package
CAIRO: Egypt has decided to open negotiations with the International Monetary Fund (IMF) “within a couple weeks,” for a new $3.2 billion dollar finance package to help aid the ailing Egyptian economy, according to Egyptian Minister of Finance Hazem el-Beblawi on Friday.
http://bikyamasr.com/48956/egypt-set-to-negotiate-imf-loan-package/
November 18,2011
Egypt has most billionaires in Africa: Forbes report
Egypt has the largest number of billionaires in Africa, according to a new wealth report by Forbes magazine.
November 17,2011
Start-up soup
NEW YORK: Last month I was in Kyiv, speaking at a conference focused on entrepreneurs. I wanted to give a talk that would be of general interest but also concrete. So I started with one of my favorite parables.
http://thedailynewsegypt.com/global-views/start-up-soup.html
November 17,2011
Arab Monetary Fund boosting Egypt efforts
The Arab Monetary Fund (AMF) is planning to give Egypt $200 million in an effort to boost Cairo’s budget pitfalls after Egypt’s economy continues to struggle, an Egyptian minister said on Wednesday.
http://bikyamasr.com/48678/arab-monetary-fund-boosting-egypt-efforts
November 17,2011
Market Report: Egypt stocks drop 1.1 per cent on resurgent protests
Main index drops to its lowest level in five weeks as financial institutions take the main hits ahead of Friday’s mass protests against constitutional amendments
Egypt team wins at Intel challenge for Hepatitis C detection
A team of entrepreneurs from Egypt came in third place at the seventh annual Intel Global Challenge at UC Berkeley, winning $10,000 for an innovation that can detect Hepatitis C.
November 16,2011
The Economic Impact of south med’s democratic transition
This year the annual FEMISE report, published ten months after the first revolts of the Arab Spring, analyses the economic impact of this transition towards democracy and looks at the factors that caused the revolution.
http://www.greenmed.eu/news-1156.html
November 15, 2011
Now for something completely different: Colombian internet entrepreneurs
Research has shown that high-tech startups create the greatest number of jobs, and it’s no wonder that entrepreneurs and startups from lesser-known countries such as Colombia are pursuing these opportunities with some success. Moreover, if Michael Geoghegan, former HSBC CEO, is correct, these countries may make bigger waves in the future: “Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa will take over as the new BRICs, as Brazil, Russia, India and China were dubbed a decade ago.”
November 14, 2011
World Bank officials to visit Egypt again over borrowing
World Bank officials plan to visit Cairo to examine the possibility of giving loans to Egypt, said Vakhtang Lejava, a World Bank representative who is chief adviser to the prime minister of Georgia.
http://www.almasryalyoum.com/en/node/514468
November 14,2011
UPDATE 2-Telecom Egypt Q3 hurt by post-revolution downturn
The economic slowdown triggered by this year’s popular uprising in Egypt tipped land-lines monopoly Telecom Egypt into a worse than expected 21 percent fall in third-quarter net profit, the company said on Monday.
http://af.reuters.com/article/commoditiesNews/idAFL5E7ME0D620111114
November 13, 2011
Google is launching its second incubator, this time in Israel
Google has launched an incubator in South Africa, has gotten involved with existing incubators in Portland, and most recently, launched the Ebda2 initiative in Egypt offering one lucky entrepreneur up to $200,000 in seed capital. These are just a few of the many ways in which Google is giving back to the startup community.
November 12 , 2011
Egyptian activists commit to bridging digital divide
With one hand gripping the steering wheel and the other his BlackBerry, IT entrepreneur Hassan Hamed accelerated up a steep unpaved road leading into one of Cairo’s sprawling, unplanned slum areas known as ashwa’iyat, Arabic for “random.”
http://gulfnews.com/news/region/egypt/egyptian-activists-commit-to-bridging-digital-divide-1.928508
November 12 ,2011
Egypt hits highest unemployment in 10 years in October
Egypt’s unemployment rate has risen to 11.9 per cent in the third quarter of 2011 said the head of the Central Agency for Public Mobilisation and Statistics [CAPMAS), Abu Bakr El-Gendi, in a press conference on Thursday.
November 11,2011
Egypt Stock Market Commentary – Week Ending November 11, 2011
Egypt had a relatively quiet week, seeing only two trading sessions take place.
http://www.afribiz.info/content/egypt-stock-market-commentary-week-ending-november-11-2011
November 11,2011
Student Entrepreneurs Win Intel Award For Outstanding Innovation
The competition, held at the Haas School of Business at UC Berkeley, drew 28 teams from more than 20 countries. China, has won the 7 th annual Intel Global Challenge at UC Berkeley , Second place and $20,000 was awarded to Maxygen-mobile DNA of Russia The $10,000 third-place prize went to NanoDiagX of Egypt.
November 10,2011
Broadcast premiere for charity song from Arab superstars
A Quincy Jones collaboration with Emirati social entrepreneur Badr Jafr, bringing together 24 musicians from 16 Arab nations for a charity single Tomorrow-Bokra, will be broadcast live on MBC and online by YouTube on 11 November.
November 10,2011
Egyptian economy hangs on poll results
Egypt needs to lure back foreign investors to alleviate pressure on domestic banks. Even with the promise of Gulf aid, the country’s fortunes hang on its upcoming elections.
http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentID=20111107111778
November 10,2011
Breaking: Egypt inflation drops to 7.5 per cent in October
Egypt’s annual inflation registered 7.5 per cent in October, a significant dip from September’s figure of 8.5 per cent, according to the Central Agency for Statistics and Mobilisation (CAPMAS).
November 10,2011
OPIC approves $150 mln in financing for Egypt’s Citadel
The Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, approved Wednesday a $150 million (LE 900 million) financial package for Egypt’s Citibank that will go to the Cairo-based Citadel Capital, a regional private equity firm.
November 9,2011
Minister: LE 233 Billion investments to spur Egypt’s economy in 2012
Minister of Planning & International Cooperation Fayza Abul-Naga said the fiscal year 2011/2012 plan targets the increase in the gross domestic product (GDP) to hit LE 1.570 billion against LE 1.373 billion for 2010/2011, 14% up, in order to reach a real economic growth rate of 3.2%.
http://www.sis.gov.eg/En/Story.aspx?sid=58854
November 9,2011
OPIC Board Approves $150 Million for Investment in Egypt & Mena Region
OPIC’s Board of Directors approved $150 million in financing for investment in such critical sectors as consumer foods, manufacturing and financial services.
November 9 ,2011
European Commission allocates 22 mln euros for SMEs in rural Egypt
CAIRO: The European Commission approved Tuesday a program worth €22 million to improve living conditions in rural Egyptian districts by supporting the development of agricultural small and medium enterprises (SMEs).
November 9,2011
Standard & Poor’s maintains high-risk rating for Egypt banks
Standard and Poor’s is maintaining its high-risk assessment of Egypt’s banking sector due to political and economic uncertainty, the credit ratings agency said on Wednesday.
November 9,2011
Egypt suffers economic losses from violence against women
A recent study noted that the Egyptian economy lost about 150 billion pounds over the last 50 years due to violence against women. This figure does not include the loss of direct materials or the moral losses compounding the social environment.
http://www.albawaba.com/business/egypt-suffers-economic-losses-violence-against-women-400323
November 8,2011
Arab Spring may turn page in Egypt-Libya economic relations
Can revolutions succeed where decades-old dictatorial systems failed, and usher in stable, mutually beneficial economic relations between Egypt and Libya? The coming months may bring the answer.
November 8 ,2011
Egypt bourse chairman says cutting salaries of senior execs
In a move to restructure the administrative and financial framework of the Egyptian Stock Exchange, the bourse chairman has cut salaries of senior executives by roughly 20 to 40 percent, while cutting managers and directors’ salaries by about 15 to 25 percent.
November 7,2011
Egypt Didn’t Request Loan During IMF’s Visit, Minister Says
Egypt didn’t ask for a loan from the International Monetary Fund during a visit to Cairo this week by an IMF mission, Finance Minister Hazem El Beblawi said today in a phone interview in the capital.
November 5,2011
Egypt gets $400 mln from Islamic trade financie
The trade financing arm of the Islamic Development Bank (IDB) has offered $400 million to help Egypt finance imports of petroleum products, wheat and other foodstuffs, Egypt’s official news agency MENA reported on Saturday.
http://af.reuters.com/article/egyptNews/idAFL6E7M50CY20111105
November 5, 2011
Finance minister defends govt appeal against Egypt renationalisations
Egypt’s finance minister has said the government’s legal appeal against returning three privatised companies to the state shows the country’s investment climate is being safeguarded.
November 5, 2011
Egyptians plan popular campaign to drop Egypt’s debts
The dictator’s regime resorted to external borrowing to finance its budget deficits and political projects. But the Egyptian people never had a say in decisions regarding external loans nor spending priorities.If not dropped, the accumulated debt will remain a burden on the Egyptian people for generations.
November 4, 2011
IMF says Egypt faces “challenging” economy
Egypt’s economy has strong potential but faces difficult challenges in its post-revolution reconstruction, the IMF said Thursday after an official mission to the country.
http://news.egypt.com/english/permalink/62167.html
November 3,2011
Egypt International Reserves Fall to Six-Year Low on Unrest
Egypt’s international reserves fell for a tenth month in October to the lowest level in almost six years as the economy continues to suffer from the unrest that toppled President Hosni Mubarak.
http://www.bloomberg.com/news/2011-11-03/egypt-international-reserves-fall-to-six-year-low-on-unrest-1-.html
November 3, 2011
Promising Student Entrepreneurs from Around the Globe Arrive in Silicon Valley
As part of the Intel Global Challenge at UC Berkeley, 29 teams of select student entrepreneurs from around the world including students will descend on Silicon Valley to present their innovative business plans that the potential to positively impact society.
All 29 Intel Global Challenge finalist teams, representing more more than 20 countries: the United States, China, Egypt, Argentina, Jordan, the Philippines and Denmark.
November 2, 2011
Egyptian Entrepreneur Shares Lessons From Her Playbook
Ms. Meguid has a unique perch from which to view the change. As a serial entrepreneur in the early years of the Internet, she had to develop her own playbook, learning to raise money from venture capitalists, manage multiple technology platforms and strike deals with large international companies. They are lessons she is sharing with the next generation of start-ups by guiding young entrepreneurs on how to turn ideas into commercially viable businesses.
http://dealbook.nytimes.com/2011/11/02/egyptian-entrepreneur-shares-lessons-from-her-playbook/
November 2, 2011
Can Egypt Overcome Its Travel P.R. Problem?
A total of 14.8 million tourists came to Egypt last year, feeding $13 billion into the economy. But the number of visitors fell by 80 percent in the first month after the revolution, and the industry will probably finish this year down 25 percent, according to the tourism ministry. That is a loss of more than $3 billion.
http://travel.nytimes.com/2011/11/06/travel/tourism-in-egypt.html
November 2 , 2011
5 Questions With . . . Anne Peters on Egypt Since the Arab Spring
This issue we ask “5 Questions” of Anne Mariel Peters, assistant professor of government who specializes in the Middle East. Her research interests include the durability of Middle Eastern Authoritarianism.
http://newsletter.blogs.wesleyan.edu/2011/11/02/peters/
November 1 ,2011
Euphoria Turns to Discontent as Egypt’s Revolution Stalls
More than eight months after President Hosni Mubarak was toppled, the euphoria of Egypt’s political spring has surrendered to a season of discontent. There is widespread gloom that Egypt is again stagnating, its economy heading toward a cliff, while the caretaker government refuses or fails to act.
31 October, 2011
Training 10,000 Future Women Entrepreneurs
Recently the 5000th woman enrolled in the $100 million, 5-year campaign launched by Goldman Sachs in 2008 to provide business and management education to 10,000 underserved women around the world.
http://www.forbes.com/sites/85broads/2011/10/31/training-10000-future-women-entrepreneurs/
October 30,2011
Abraaj says committed to Egypt’s market, refutes corruption allegations
Abraaj Capital, the Dubai-based private equity firm, continues to see Egypt as an investment hub for the region despite the political uncertainty that is weighing down on the country’s volatile economy, managing director Mustafa Abdel-Wadood said
http://thedailynewsegypt.com/economy/abraaj-says-committed-to-egypts-market-refutes-corruption-allegations.html
October 30, 2011
Credit downgrade complicates financing for a struggling Egypt
The downgrade of Egypt’s credit rating further towards junk territory will take its toll on the country’s ability to issue bonds domestically and internationally, according to experts.
October 29, 2011
Apache plans $1.5 billion Egypt investments in 2012
American oil and gas company Apache Corp plans to increase investments in its Egypt operations by $1.5 billion starting in 2012, Egypt’s General Authority for Free-zones and Investments (GAFI) said on Saturday.
http://www.baltimoresun.com/business/sns-rt-us-egypt-investmentstre79t06g-20111029,0,827903.story
29 October, 2011
The financial cost of the Arab spring
Almost 11 months after the Arab uprisings began, where political dynasties have fallen, the process of democratisation has started and millions hope for a brighter future.But as freedom is not free, and there are now some clear financial costs emerging.The numbers from political analysts Geopolicity – which base their estimates on data from the International Monetary Fund (IMF) – show almost $21bn have been lost in “the real economy”, meaning in the production of goods and services.Public finances have deteriorated by $35bn, that refers to the money the government raises from taxes and other sources. All for a grand total of $55.84bn.
http://www.aljazeera.com/programmes/countingthecost/2011/10/2011102983819757950.html
October 26,2011
Egypt, Lebanon and Yemen win top three places in final of 7th Arab Technology Business Competition
Dr. Abdalla Alnajjar, President of the Arab Science and Technology Foundation (ASTF) announced that Egypt, Lebanon and Yemen succeeded in catching the top three ranks in the final of the 7th Arab Technology Business Plan Competition (TBPC), that organized by the Arab Science and Technology Foundation (ASTF) in partnership with Intel Corporation and in collaboration with the United Nations for Industrial Development “UNIDO”.
http://www.ameinfo.com/279388.html
26 October, 2011
Egyptian firm posts $4.2m loss
Citadel Capital, Egypt’s largest buyout firm, reported losses of US$4.2 million (Dh15.4m) in the second quarter as income dried up and investment activity stagnated following the country’s revolution.
http://www.thenational.ae/business/banking/egyptian-firm-posts-4-2m-loss
25 October, 2011
Education and Support for Small Businesses Can Unlock Arab Youth Potential
Fulfilling the employment potential of Arab youth will need educational reforms, support for small businesses and private sector engagement, said H.M. Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan at the World Economic Forum Special Meeting.
The Queen praised organizations supporting young entrepreneurs, such as INJAZ Al Arab, Jordan’s Oasis 500 and Egypt’s Plug and Play.
http://en.ammonnews.net/article.aspx?articleNO=14277
25 October,2011
Egypt bourse says vote timing crucial, not result
Investors waiting for the right moment to return to Egypt are focusing more on when and whether elections happen than the kind of parliament and government they bring, the head of the country’s stock exchange said on Tuesday.
http://www.reuters.com/article/2011/10/25/us-mideast-summit-egypt-exchange-idUSTRE79O5AS20111025
October 24 ,2011
Egypt’s finance minister welcomes income tax hike
Egypt’s finance minister has welcomed suggestions the country raise its income tax ceiling to 30 per cent and swiftly implement a value added tax system.
http://english.ahram.org.eg/~/NewsContent/3/12/25035/Business/Economy/Egypts-finance-minister-welcomes-income-tax-hike.aspx
October 25 , 2011
Making a case for Egypt’s immediate economic needs
In recent weeks, Egypt’s Finance Minister Hazem El-Beblawi has indicated that the country is open to restarting discussions on a possible loan from the International Monetary Fund, to ease worsening liquidity issues.
http://thedailynewsegypt.com/economy/making-a-case-for-egypts-immediate-economic-needs.html
0ctober 25,2011
Obama urges Egyptian rulers to lift emergency laws
Mr Obama emphasised his support for full funding by the Congress of the Administration’s request for assistance for Egypt, without conditions, and stressed his commitment to help Egypt secure international assistance to address its economic needs.
http://www.thehindubusinessline.com/industry-and-economy/economy/article2570092.ece
24 October,2011
Espace: A catalyst in the Egyptian entrepreneurial ecosystem
While the entrepreneurial scene in the Middle East has been gaining momentum in the past couple of years, Espace is one Egyptian company which has been forging a path in the tech industry for far longer than that.
October 24,2011
Egypt says easing rules to draw investors
Egypt is streamlining rules to allow companies to secure licenses more swiftly as part of steps to attract investors to revive the battered economy, a senior investment official said.
http://www.reuters.com/article/2011/10/24/us-mideast-summit-egypt-investment-idUSTRE79N3FF20111024
23 October,2011
Education Hinders Arab Economies
Across the Arab world – from the wealthiest oil economies to the resource-poor countries of North Africa and the Levant – education remains a key obstacle to making the region’s economies economically competitive.
http://www.themedialine.org/news/news_detail.asp?NewsID=33534
October 23, 2011
Egypt will change gradually
The next period will be marked by instability, disorder and economic difficulty because the key issue is a discrepancy between unrealistic expectations of ordinary Egyptians and reality. This is not to say that Egypt can’t overcome this setback. Indeed it can and will emerge even stronger and more prosperous. But in order to get there, we shouldn’t forget that real and meaningful change takes time to implement.
http://gulfnews.com/opinions/columnists/egypt-will-change-gradually-1.913756
October 23, 2011
Opaqueness and unrest burden Egypt’s economy
CAIRO: An uncertain transition to civilian rule, labour unrest and sporadic violence that scares off tourists are aggravating Egypt’s economic slump almost nine months after president Hosni Mubarak’s overthrow, experts say.
October 23,2011
Qatari Diar $543.8m investment set to create 4000 jobs for Egyptians
Qatari Diar Real Estate Investment Company, an international leader in sustainable development, signed a contract with Consolidated Contractors Company today with a total worth of more than $543.8m for its projects in Cairo and Sharm El Sheikh.
http://www.ameinfo.com/279013.html
October 23, 2011
Domestic funding in Mideast not balanced
Demonstrators across the Arab world this year have sought an end to oppressive rule, high food prices, social discrimination and poor job prospects “The Middle East has been a particularly attractive source of capital for the rest of the world,” he said. “It’s time that some of that capital gets redirected back to the region.”
http://www.egypt-business.com/Web/details/1142-Egypt-a-37bn-gleam-in-the-dark
October 22,2011
UAE discussing mechanism for $3 billion Egypt aid
The United Arab Emirates plans to provide $3 billion in financial aid to Egypt but is still discussing the mechanism to deliver it, a senior UAE official said Saturday.
http://www.reuters.com/article/2011/10/22/us-uae-egypt-aid-idUSTRE79L1DD20111022
October 21,2011
28 High-Impact Entrepreneurs from Chile, Egypt, Jordan, Lebanon, Mexico, South Africa and Turkey Join the Endeavor Network
Endeavor selected 28 High-Impact Entrepreneurs from seven countries at its 40th International Selection Panel. Endeavor now supports 631 High-Impact Entrepreneurs from 399 companies in 12 emerging growth countries. The entrepreneurs were chosen at a Panel held from October 17 — 19 in Amman, Jordan.
October 20,2011
£5m deal to boost Egyptian economy
A £5 million package to boost the Egyptian economy is to be announced by Deputy Prime Minister Nick Clegg during a visit to Cairo.
The British money is intended to help create jobs in the country as it tries to make the transition to democracy in the wake of the Arab Spring.
October 20, 2011
Egypt: a $3.7bn gleam in the dark
Ahmed Heikal, one of Egypt’s best-known financiers, is pressing ahead with a $3.7bn refinery investment despite the political uncertainty surrounding the country.
http://www.egypt-business.com/Web/details/1142-Egypt-a-37bn-gleam-in-the-dark
19 October, 2011
Egypt: Biblawi – Encouraging Signs On Economy Future
The crisis in Egypt was the result of two factors: the retreat of liquidity levels at the state budget and uncertainty about the future of economic and political policies, Biblawi said in a meeting with the board of the Egyptian Federation of Investor Associations and heads of investor associations across Egypt.
http://allafrica.com/stories/201110250997.html
October 6,2011
Airport strike spotlights Egypt’s economic woes
A work slowdown by air traffic controllers delayed scores of flights Thursday and left passengers stranded for many hours in Cairo’s international airport, wreaking havoc in the latest example of cascading labor unrest that officials and analysts say is devastating Egypt’s economy.
Economic indicators point to troubling times ahead for Egypt — where more than 40 percent live around or below the World Bank poverty line of $2 per day.
Oct 2, 2011
Global firm with big hopes for small start-ups chooses Dubai
A frenzy of entrepreneurial activity occurring in Dubai is solidifying the emirate’s status as the Silicon Valley of the Middle East, and has attracted a global organization that fast-tracks the growth of businesses in emerging markets.
September 28, 2011
All Aboard: Google Bus Seeks Start-Up Ideas
A bus branded with the Google logo will be traveling across 10 governorates in Egypt starting this week, including stops at universities in Cairo and Alexandria, scouting for the next generation of technology entrepreneurs with homegrown ideas on the scale of Facebook or LinkedIn.
September 26,2011
Google is giving $200,000 to one Egyptian entrepreneur
Google MENA has just announced its latest initiative named, Ebda’, which literally means Begin in Arabic. The initiative, launched in partnership with Egyptian businesses, Innoventures and Science Age Society, will give one Egyptian entrepreneur the chance to get their startup off the ground, with the help of a $200,000 seed investment from Google.
http://thenextweb.com/google/2011/09/26/google-is-giving-200000-to-one-egyptian-entrepreneur/
September 25, 2011
Active PR Awards US$20,000/- to Arabia’s Wildlife
Active Public Relations & Marketing Communications Consultancy (Active PR) today announced the winner of the Entrepreneur Loudspeaker Competition 2011, Wild Planet Productions. This was the culmination of a 3 month grassroots initiative that saw entries from start-ups across the ME region from Palestine, Egypt, Jordan and the UAE.
http://www.albawaba.com/business/pr/active-pr-awards-us20000-arabia%E2%80%99s-wildlife-393563
September 25, 2011
Startup Weekend Alexandria, Egypt: Grassroots Startups Inspired by a Grassroots Revolution
Startup Weekends are 54-hour events where developers, designers, marketers, product managers and startup enthusiasts come together to share ideas, form teams, build products and launch startups. See how Startup Weekend faired in the coastal Mediterranean town of Alexandria, Egypt.
September 23, 2011
Arabs May Buy Egypt Debt to Cut Highest Yield Since 2008
Arab governments or their investment arms may soon buy Egyptian treasury bills to help the government reduce the highest borrowing costs since 2008. The chaos accompanying this year’s popular revolt that toppled President Hosni Mubarak has battered tourism revenue, weakened the pound and prompted foreign investors to cut holdings of government debt. Other Arab countries may help out.
September 23, 2011
Egypt firms struggle as political uncertainty hits economy
The economic policies in place throughout the transitional governments rule are having a direct effect on the future of Egypt’s economy. How will upcoming parliamentary and presidential elections change the way Egyptian firms and investors view the economic future of Egypt?
September 21, 2011
Czechs in Egypt’s first post-Mubarak foreign direct investment
Czech Pegas, the second biggest producer of synthetic textiles in Europe, is expanding abroad. And the first country the company picked for its FDI premiere is Egypt.
September 21, 2011
IMF: Egypt economy to grow just 1.5 per cent in 2011
The global body’s latest report on the world economy paints a depressing picture for Egypt, predicting growing account deficits, stalled investment and a further drop in foreign reserves.
September 18, 2011
Egypt and Libya: Capital Takes Flight
The Bank for International Settlements for the first time unveiled the extent of capital flight from Egypt and Libya in its latest quarterly report, noting that outflows from Egypt in the first three months of 2011 surged at their highest quarterly rate ever.
http://blogs.ft.com/beyond-brics/2011/09/18/egypt-and-libya-capital-flight-up/
September 18, 2011
‘Wait-and-see’ game about Egypt
Islamic financial institutions in general are playing a “wait-and-see” game regarding Egypt, one of the laboratories of the contemporary Islamic finance movement and currently in political and economic transition with elections – both parliamentary and presidential – due later this year.
http://arabnews.com/economy/islamicfinance/article503526.ece
September 16, 2011
Egypt’s Economy Sinks on Heels of Uprising
Margaret Warner continues her reporting from Cairo with a look at the economic fallout from the country’s revolution.
http://www.youtube.com/watch?v=086CPC3kJjM
September 15, 2011
The Middle East’s Leaders of the Future?
More than two thirds of the Arab region’s population is under the age of 25, according to the Arab Thought Foundation, and they have emerged as the drivers of the Arab Spring uprisings.
Here, is a profile of some young people from the Middle East and North Africa who could be the region’s leaders of tomorrow. Among them are three entrepreneurial innovators from Egypt.
http://edition.cnn.com/2011/09/15/world/meast/mideast-future-leaders/
September 14, 2011
A Night of Extraordinary Women
Do something! That’s what the courageous women activists and leaders urged at the launch of the Women in the World Foundation in Manhattan on Tuesday. From honor killings to child marriage, find out how you can help.
September 11, 2011
Arab Nations Promised $58 Billion for Reform
After Tunisia and Egypt ousted their authoritarian regimes this year, eight of the world’s most developed economies along with rich Arab countries and a raft of development banks had pledged in May to give $40 billion in support to their nascent democracies and hopefully keep them on the path to open government.
September 9, 2011
Egypt’s Economy Struggled, 1.8 Percent Growth
Political tension and street protests have seen Egypt’s economy struggle to a 1.8 percent growth during the last fiscal year ending June 30. It is the smallest percentage growth for the country in over a decade.
http://bikyamasr.com/41737/egypts-economy-struggled-1-8-percent-growth/
September 8, 2011
Egypt Yields Jump Most Since Revolt Signaling a Need for Cash
Egyptian borrowing costs climbed the most since February, the month former President Hosni Mubarak was ousted, after the Finance Minister said the country is seeking $7 billion in aid.
September 8, 2011
Is Islam Compatible With Capitalism?
The Middle East’s future depends on the reply, which in part has been answered by the experience of Turkey
Here is an eye opening article that describes how Islam, Christianity, Capitalism and the standard business practices undertaken throughout the Middle East play into how investors will look at the future of entrepreneurialism in the region.
http://www.vancouversun.com/business/Islam+compatible+with+capitalism/5373388/story.html
September 7, 2011
Cultivating Entrepreneurship in the Arab Spring
Since early 2010, wheels were turning to launch LearnServe Egypt in Cairo in the summer of 2011, a flagship program bringing American and Egyptian university students together for a six-week “boot camp” of entrepreneurship, innovation, intercultural understanding and social impact to help promote Egyptian social and economic development. After individuals from both sides of the world traveled to Cairo and Washington D.C. much was learned and the path to certainty seems a little more clear.
http://www.huffingtonpost.com/laura-sicola/cultivating-entrepreneurs_b_952202.html
September 5, 2011
Egypt’s Local Borrowing May Backfire on Economy: Arab Credit
Egypt is going through a shaky environment for financing demand from the private sector. There needs to be a recognition that this demand can return if fiscal consolidation can be applied, and a leveling of the playing field for small borrowers is created between well-connected businessmen. With more political stability, there will be job creation and an increase in growth.
August 31, 2011
Entrepreneur’s soft skills blossom in Arab Spring
There is a youth demographic bubble. Populations in countries from Yemen to Egypt have been swelled by people under 30, both men and women, and it is important to find this emerging generation something to do. Here is an article that shows how one man has created an avenue for this demographic to succeed.
August 24, 2011
Egyptian Entrepreneur Exports Sweets, Culture to U.S.
Food exports from Egypt are growing, and Lamiaa Aboulfadl wants to add to the numbers with a product reminiscent of her country’s ancient history, which has mesmerized much of the world for centuries.
She is producing mummies – in chocolate.
http://allafrica.com/stories/201108250043.html
August 23, 2011
Ambassador Patterson Highlights Egypt’s Economic Potential at U.S. Embassy Iftar
American Ambassador Patterson discusses the future of U.S. and Egyptian partnerships and how demographics, elections, entrepreneurialism and economic modernization will all play a role in progress. In her discussion she mentions how Egypt has a world-class business community that is more entrepreneurial, more creative, and more developed than those of many of its neighbors.
http://egypt.usembassy.gov/pr082311_1.html
July 25, 2011
Young Start-Ups Shaping Egypt’s Future
Here is a link to a great article that shows how Egyptian Entrepreneurs are taking advantage of the current situation and turning it into an opportunity for forward progress.
http://edition.cnn.com/2011/TECH/innovation/07/21/egypt.entrepreneurs.technology/index.html
July 16, 2011
Arab Spring, Start-Up Summer?
A very educated and economically conversant, forward-looking group of people started a revolution in Egypt and are now working towards a brighter future. In the wake of an oppressive regime millions of entrepreneurs are finding themselves in a position to affect change and make a difference in their country. See how some these individuals are seizing the moment.
June 27, 2011
Arab Spring Turns into an Entrepreneurial Summer
Five months after an Egyptian uprising led to the fall of Hosni Mubarak’s 30-year political regime, an all-star cast of young American and Danish entrepreneurs are in Cairo to offer an education in how to build a successful business. Along the way, they hope to learn a few things themselves.
January 31, 2011
Unrest in Egypt: An Investor’s View
Ev