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Yousef Saba

IMF expects Egypt economy to grow 5.9% in year to end of June

Oct 15 2019

CAIRO Egypt's economy is expected to grow 5.9% in the year ending in June, the International Monetary Fund said on Tuesday -- unchanged from its April forecast but below the government's target of 6% to 7%.

CORRECTED-World Bank sees Egypt economy growing 5.8% in 2019/20

Oct 15 2019

CAIRO, Oct 10 The World Bank forecast on Thursday that Egypt's economy would grow by 5.8% this fiscal year, lower than the government's target of 6-7% but in line with the bank's expectation six months ago.

Egypt's central bank makes second consecutive cut to key rates

Sep 26 2019

CAIRO Egypt's central bank on Thursday cut its key interest rates for the second month in a row, after inflation fell further and as central banks globally ease monetary policy.

Egyptian tuk-tuk start-up Halan to expand to Ethiopia

Sep 19 2019

CAIRO Halan, an Egyptian technology start-up that uses two- and three-wheeled vehicles to transport passengers and goods, will begin operating in Ethiopia before the end of 2019, its chief executive told Reuters.

Egyptian transport start-up Swvl targets expansion in Africa, Asia

Sep 16 2019

CAIRO Egyptian transport technology start-up Swvl will expand into two cities in Pakistan in the next two weeks and begin operations in Nigeria's commercial capital Lagos before the end of the year, its chief executive told Reuters.

Egypt overhauling tax procedures to lure investors: finance minister

Sep 10 2019

CAIRO Egypt hopes to boost feeble foreign direct investment (FDI) by automating and simplifying customs and tax processes, Finance Minister Mohamed Maait said on Monday, acknowledging that much still needed to be done.

UPDATE 2-Egypt plans up to $7 bln in international bonds in 2019-20

Sep 09 2019

CAIRO, Sept 9 Egypt intends to issue international bonds worth $3 billion to $7 billion in the 2019-2020 financial year, Finance Minister Mohamed Maait said on Monday.

CORRECTED-UPDATE 1-Egypt plans up to $7 bln in international bonds in 2019-20

Sep 09 2019

CAIRO, Sept 9 Egypt intends to issue international bonds worth $3 billion $7 billion in the 2019-2020 financial year, Finance Minister Mohamed Maait said on Monday.

Despite rosy economic data, Egyptians complain of harder living

Aug 29 2019

CAIRO Economists and investment banks say Egypt's economic reforms have been a huge success. Zeinab doesn't think so.

Despite rosy economic data, Egyptians complain of harder living

Aug 29 2019

CAIRO, Aug 29 Economists and investment banks say Egypt's economic reforms have been a huge success. Zeinab doesn't think so.

World News

Cartel gunmen terrorize Mexican city, free El Chapo's son

Heavily armed fighters surrounded security forces in a Mexican city on Thursday and made them free one of drug lord Joaquin 'El Chapo' Guzman's sons, after his capture triggered gunbattles and a prison break that sent civilians scurrying for cover.