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The market on 24 November, 2022
The EGX30 rose 1.4% at today’s close on turnover of EGP 1.95 bn (37.5% above the 90-day average). International investors were net sellers. The index is up 7.0% YTD. In the green: GB Auto (+6.9%), Alexandria Containers and Cargo Handling (+3.9%) and Elsewedy Electric (+3.9%). In the red: QNB Alahli (-1.8%), Orascom Construction (-1.4%) and […]
Egypt’s corporate learning and development landscape
What are Egyptian businesses looking for in L&D services? A core pillar of any business is the learning and development (L&D) of its employees — from the junior to the executive level. Globally, most university-based executive education programs work with corporate clients — as opposed to Egypt, where individuals are investing a lot in their […]
NOVEMBER 20 November-18 December (Sunday-Sunday): 2022 Fifa World Cup, Qatar. 22 November- 23 November (Tuesday-Wednesday): The Fingerprint Summit will be held at the Nile Ritz Carlton Hotel. 27 November (Sunday): Senate in session. 27-28 November (Sunday-Monday): The first edition of the Egypt Media Forum. 27-30 November (Sunday-Wednesday): Cairo ICT and Pafix, Egypt International Exhibition Center, […]
THIS MORNING: Happy Thanksgiving, everyone
Is it really that time of year again, ladies and gents? We wish all of our American readers a Happy Thanksgiving today — as well as everyone else turning “American” for the day to get involved with the good food and the good vibes. WHAT’S HAPPENING TODAY- The Egyptian Businessmen’s Association is meeting today to […]
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Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?
Are talks between TE and Qatar’s sovereign fund over Vodafone Egypt hotting up? The Qatar Investment Authority’s (QIA) talks with Telecom Egypt over the potential purchase of a 20% stake in Vodafone Egypt have “accelerated” and could close “very soon,” Bloomberg Asharq reports, citing two sources it says are in the know. The Qataris are […]
The CBE’s exit from the subsidized loan programs isn’t going down well with some industry figures
A decision by the government to end the central bank’s role in subsidizing loans has not been received well by some sections of the business community, with the Egyptian Businessmen’s Association (EBA) and some MPs calling on ministers to rethink their plans. Refresher: A decree issued by Prime Minister Moustafa Madbouly earlier this week will […]
EGP most vulnerable EM currency, says Nomura
The EGP might not be out of the woods yet: Japanese bank Nomura thinks that Egypt is the most vulnerable emerging-market country to a currency crisis over the next 12 months, according to a report. Egypt is ranked highest of the 32 EM nations included on the bank’s Damocles Index, indicating a strong chance that […]
Cabinet approves plans for IP Authority
Ministers approved a draft bill that would establish the Egyptian Intellectual Property Authority, a public body to regulate and protect intellectual property rights in the country, cabinet said in a statement following its weekly meeting yesterday. The authority is key to the government’s new five-year intellectual property strategy which was announced in September as part […]