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CAPMAS: Trade deficit has risen 48 per cent

By Hend El-Behary Egypt’s trade deficit nearly doubled, reaching EGP 17.6 billion in June, compared to EGP 11.9 billion in the same month last year, a 47.9 per cent jump according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). Exports have plunged by 18 percent, falling to EGP 14.6 billion, a decrease of …

Daily News Egypt

Is Morsy pivoting eastwards?

Last week was quite eventful for our illustrious president. From his visit to China to his presence in the Non- Aligned Movement’s (NAM) summit, Morsy’s political clout has been progressively expanding as he strives to reinvigorate the image of Egypt, the leader of the Arab world. Since his ascent to power, Morsy has confidently taken …

Mohamed El-Bahrawi

Review: Columnists analyse Morsy’s meetings in China and Iran

After President Mohamed Morsy’s two last visits to China and Iran, columnists across Egyptian newspapers analyze his speech at the Non-Aligned Movement Summit in Tehran and the new Chinese grant. Some praised Morsy’s early steps towards a new page of Egyptian international relations, others see that his trips, especially that to Iran, will add to …

Daily News Egypt

Review: Mory’s visits to China and Iran overwhelm Egyptian columnists

As Morsy nearly finalises his three-day journey to China and heads towards a supposedly short, yet very unique, trip to Tehran, opinion writers in almost all Egyptian newspapers dissect the main reasons, repercussions and expected outcomes of the President’s two important visits. Some writers have refuted arguments that Egypt has the potential to swiftly follow …

Daily News Egypt

Morsy’s “balanced” foreign policy

By Alya Essam As Mohamed Morsy commences his three-day trip to China, which will be followed by a five-hour visit to Tehran, the president comes to introduce himself to world wide leaders, striving to hint at new approaches with countries that Mubarak had cut back relations with. “International relations between all states are open and …

Daily News Egypt

IEA cuts global oil demand forecasts

Paris (AFP) — Faltering economic growth will undercut global oil demand this year and next, the International Energy Agency said Friday, citing slowdowns in China and the United States in particular. “Sluggish economic growth could restrict annual oil demand growth to 0.9 million barrels per day in 2012 and 0.8 mbpd in 2013, with demand …

Daily News Egypt

Asian markets hit by weak China trade data

Hong Kong — Asian markets mostly fell Friday as weak Chinese trade data reinforced concerns of a slowdown in the world’s number two economy, while profit-taking after a week-long rally added to selling pressure. Wall Street provided a weak lead despite upbeat US jobs and trade data that indicated a positive outlook for the world’s …

Daily News Egypt