Patrick Werr

Cairo

Journalist at Reuters

Columnist at Freelance

Economics and finance journalist based in Egypt for 33 years, writing on the Egyptian economy for Reuters.

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Articles

Beltone Holding raises $205mln in new capital

1 week ago | zawya.com | Patrick Werr

CAIRO - Cairo-based financial services provider Beltone Holding has raised its capital by 10.5 billion Egyptian pounds ($205 million), it said in a statement on Monday. The capital increase "supports our growth plan across all of the company's platforms, with a focus on strategic expansion, artificial intelligence and digital transformation," the statement quoted chief executive Dalia Khorshid as saying. Foreign investors made up the vast majority of the subscriptions, it added.
Permanent desalination plant for Cape Town - have your say

2 months ago | bizcommunity.com | Ahmed Eljechtimi |Patrick Werr

Advertise your job vacancies 2 days7 days30 daysBy Industry Show more The City of Cape Town is calling on the public to comment on the proposal to implement and operate the city’s first permanent desalination plant in Paarden Eiland. Desalination is a scientific process of removing salts from sea water, then processing it further to make it suitable and safe for human consumption.
Egypt's economy expected to grow by 4% on IMF reforms: Reuters poll

Jan 20, 2025 | msn.com | Patrick Werr

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Egypt's economy expected to grow by 4% on IMF reforms

Jan 20, 2025 | msn.com | Patrick Werr

Continue reading More for You
Egypt's economy expected to grow by 4% on IMF reforms

Jan 20, 2025 | marketscreener.com | Patrick Werr

CAIRO (Reuters) - Egypt's economy will grow by 4.0% in the year to the end of June as IMF measures continue to help improve its economic environment, a Reuters poll showed on Monday. The median forecast in the Jan. 9-20 poll of 19 economists predicted gross domestic product (GDP) growth would then accelerate to 4.7% in 2025/26 and 5.0% in 2026/27.
Egypt's economy expected to grow by 4% on IMF reforms

Jan 20, 2025 | ca.marketscreener.com | Patrick Werr

CAIRO (Reuters) - Egypt's economy will grow by 4.0% in the year to the end of June as IMF measures continue to help improve its economic environment, a Reuters poll showed on Monday. The median forecast in the Jan. 9-20 poll of 19 economists predicted gross domestic product (GDP) growth would then accelerate to 4.7% in 2025/26 and 5.0% in 2026/27.
Egypt rushes to catch up on solar energy as gas prices soar

Jan 13, 2025 | reuters.com | Patrick Werr

LNG imports likely to cost billions of dollars in 2025New projects to feed into grid coming onstream in early 2026Law allowing private solar providers passed in MarchCAIRO, Jan 13 (Reuters) - With few clouds, vast empty deserts and a well-developed electricity grid, Egypt has all the elements for a huge expansion in solar power generation. But it is only now moving to exploit them, after the cost of natural gas imports jumped.
Egyptian pound breaches 50 to the dollar, central bank says

Dec 5, 2024 | zawya.com | Patrick Werr |Adam Makary

The Egyptian pound weakened to close at 50.0024 to the dollar, having breached the 50 pound barrier for the first time since March, Egypt's central bank said on Thursday.
Egypt's net foreign assets slid in October

Dec 1, 2024 | zawya.com | Patrick Werr

CAIRO - Egypt's net foreign assets (NFAs) dropped by $1.12 billion in October after a rise in September, central bank data shows. NFAs declined to the equivalent of $9.21 billion at the end of October from $10.33 billion at the end of September, according to Reuters calculations based on the official central bank currency rates. The decline followed a $591 million gain in September.
Egypt's AAIB raises $500mln from sustainability bond issue

Nov 25, 2024 | zawya.com | Patrick Werr

CAIRO - Egypt's Arab African International Bank has raised $500 million in a "sustainability bond" issue, it said in a statement on Monday. The funds will be used to finance industrial energy efficiency, small-scale renewable energy projects and green buildings. Some 25% will be allocated for "social assets" including micro, small and medium-sized enterprises.