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Doubts over Abu Qir, ACCH share sales in December: Repeated delays to the state privatization program are causing analysts to doubt whether plans to sell stakes in state-owned Alexandria Container and Cargo Handling (ACCH) and Abu Qir Fertilizers at the end of December are achievable, Patrick Werr writes for Reuters. Public Enterprises Minister Hisham Tawfik […]
Author Archives: enterpriseam admin
Posted inSpeed Round
IMF out with final review of Egypt’s reform program
IMF out with final review of Egypt’s reform program: The International Monetary Finance (IMF) released on Friday its fifth and final policy review of Egypt’s economic reform program, which was conducted last July ahead of disbursing the final USD 2 bn tranche of the institution’s USD 12 bn facility to Egypt. This disbursal marked what […]
Posted inSpeed Round
Egypt’s economy to grow at 5.8% clip in FY 2019-2020- World Bank
The World Bank has maintained its expectations that Egypt’s economy will grow at a 5.8% clip this fiscal year and accelerate to 6% in FY 2020-2021 — assuming that macroeconomic reforms continue and the business environment improves, it says in its latest economic update (pdf). This is slightly lower than the government’s FY 2019-2020 target […]
Posted inSpeed Round
Administrative Court backs Trade Ministry’s steel import tariffs
Has the battle over steel tariffs finally been resolved? The High Administrative Court has overturned a court decision to freeze the Trade Ministry’s decision to impose a 25% duty on steel rebar and a 16% duty on iron billets for three years, the local press reports. The administrative court ruled against the imposition of the […]
Posted inSpeed Round
El Sisi forms committee to work on Public Enterprises Act amendments
LEGISLATION WATCH- President Abdel Fattah El Sisi has formed a committee to work on amendments to the Public Enterprises Act, the local press reported. The committee will be chaired by the president’s assistant for national and strategic projects, and will feature Public Enterprises Minister Hisham Tawfik, and representatives from the finance and planning ministries, general […]
Posted inSpeed Round
Egypt’s El Sisi, Ethiopia’s Abiy Ahmed vow to end obstacles in GERD negotiations
El Sisi, Abiy Ahmed vow to overcome obstacles to successful GERD negotiations: President Abdel Fattah El Sisi and Ethiopia’s Prime Minister Abiy Ahmed reiterated their mutual commitment to successfully negotiating an agreement on the operation of the Grand Ethiopian Renaissance Dam (GERD), according to an Ittihadiya statement. The two leaders, who spoke on the phone […]
Posted inSpeed Round
Cabinet signs off on USD 500 mn World Bank facility for Egypt’s social safety net
CABINET WATCH- The Madbouly Cabinet approved on Thursday a USD 500 mn loan from the World Bank to support Egypt’s social safety net for three years, according to an official statement. Egypt had signed the agreement for the facility, which will be used to expand the Takaful and Karama cash subsidy programs, in September. Siemens […]
Posted inUncategorized
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Posted inImage of the Day
Studies show stocks with catchy tickers may perform better
Who said creativity and stocks didn’t go together? The results of a 2009 study that found stocks with memorable ticker names outperform in the market still rings true, according to the Economist. A decade later, the same portfolio of companies with eye-catching tickers were again found to have outperformed. Some of the stocks in the […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 13 October
The foreign press is still not done covering the recent demonstrations in Egypt. Deutsche Welle and Al Monitor were each out with a piece on the economic reforms and austerity measures that drove the demonstrations. Meanwhile, Amnesty International is alleging that prominent activist Alaa Abdel Fattah has been subjected to torture during his detention at […]