Mahmoud Mohieldin, Egypt’s first investment minister and current IMF executive director for Arab studies, shares his thoughts on the region’s economic prospects. Since the start of 2020, the global economy has had to deal with new precedent after new precedent as lockdowns tested nations’ decision-makers. In response, they mostly resorted to ad-hoc solutions. Today, the world is much calmer, thanks in large part to the global vaccine rollout. Yet, there is still trepidation about economic recovery. “We can’t work with surprises, not even good ones,” Mahmoud Mohieldin, executive director for Arab studies at the IMF, told AmCham during a May…
Author: Tamer Hafez
President Joe Biden wants the federal government to lead the economic recovery in the United States. While many Americans love the idea, some experts warn it may backfire. When it comes to the economy, many governments would agree the private sector is the engine driving it forward. It is an important policy message of the OECD, a club of mostly rich nations. “As the major contributor to economic growth and employment creation, the private sector has a central place,” it noted in 2017. Additionally, as a regulator, a government should not influence supply and demand, violating a key dynamic within…
As the world rushes to a more digital future, international experts highlight a likely consequence: that reality would become an expanding playground for cybercriminals. Last year, many office workers contemplated if a return to a physical workspace would be possible in 2021. Now, with countries suffering a third or even fourth wave of COVID-19 infections and disrupted rollouts of vaccines, working from home is likely here to stay. “As the current pandemic has shown, with very few exceptions, numerous jobs can be efficiently done with no traditional physical workplace,” Michael O’Malley, vice president of strategy at the security solutions and…
Airlines embrace their role in confronting climate change. When international experts look beyond COVID-19, they almost unanimously agree humans must reduce their carbon footprint or face more severe pandemics and crises. According to YouMatter, a news portal reported that passenger jets produce roughly five times as much carbon dioxide per kilometer as an average car; they also consume far more fuel than cars. That means EgyptAir and other airlines must accelerate plans to make their fleets more fuel-efficient and environmentally friendly. “Airlines will look at the world in a different light as the recovery develops,” says John Grant, a senior…
To keep air travel alive and well in the age of social distancing and environmental responsibility, carriers and aircraft manufacturers must rethink how they do business. That will require more investment and new paradigms. As governments announce ambitious vaccine rollouts, aviation experts predict the resulting boost in public confidence will fuel a recovery in the airline business. “A vaccine is on the horizon, and travelers are already feeling more optimistic about flying in 2021,” wrote Jessica Puckett, a journalist for Condé Nast Traveler, in December. Online flight searches and bookings on platforms such as Skyscanner and Kayak increased by more…
President Joe Biden has already signed off on far more executive orders than former presidents Donald Trump, Barack Obama, or George W. Bush did in comparable periods at the beginning of their terms. As of Feb. 25, Biden has already inked 63 executive orders, with implications spanning various vital industries and sectors. His ‘’Buy American’ plan is a continuation of the 1933 ‘Buy American Act.’ It requires “federally funded public projects use domestically produced iron, steel and manufactured goods unless doing so increases project costs by 25% or more,” noted a February report by Scott Beyer and Ethan Finlan in…
Last year, organizations were put to the test, upending operations to balance employee well-being, government regulation and making money. Those that successfully navigated COVID-19’s disruptions believed large-scale change was inevitable. “Companies that took steps to prepare for future disasters prior to 2020 were more likely to say they are weathering the pandemic better than their peers,” said the 2021 Deloitte Global Resilience Report. Last year, organizations were put to the test, upending operations to balance employee well-being, government regulation and making money. Those that successfully navigated COVID-19’s disruptions believed large-scale change was inevitable. “Companies that took steps to prepare for…
Managers need to change their mindsets in response to different team dynamics and priorities. Last year, employees were forced to carry out their work with offices shut down to curb the spread of COVID-19, while at the same time decision-makers were demanding no disruption to “business as usual.” “That was the challenge in the local business environment,” said Sherine Zeidan, HR business partners manager at Commercial International Bank, during a Feb. 10 AmCham webinar featuring a panel of human resources professionals and executives. Most employees have settled into working remotely and virtual meetings, for better or worse. However, as managers…
Managers need to change their mindsets in response to different team dynamics and priorities. Last year, employees were forced to carry out their work with offices shut down to curb the spread of COVID-19, while at the same time decision-makers were demanding no disruption to “business as usual.” “That was the challenge in the local business environment,” said Sherine Zeidan, HR business partners manager at Commercial International Bank, during a Feb. 10 AmCham webinar featuring a panel of human resources professionals and executives. Most employees have settled into working remotely and virtual meetings, for better or worse. However, as managers…
The idea of issuing Islamic bonds, better known as sukuk, in Egypt has been nearly nine years in the making. In April 2012, experts speaking to Business Monthly warned against rushing into such products, yet highlighted their necessity. “Leave these decisions to the future government,” Sherif Delawar, a finance professor at the Arab Academy for Science and Technology, said at the time. “They need to have the option to determine what is best for Egypt.” Sukuk didn’t resurface until 2018, when the current administration announced it would start drafting a law. At press time, the draft law was not ready for…