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EARNINGS WATCH- Qalaa Holdings’ revenues rose 8% y-o-y in 2Q2019 to EGP 3.5 bn “driven by solid top line performance at TAQA Arabia,” the company’s energy platform, Qalaa said in its earnings release (pdf). TAQA’s revenues grew 33% y-o-y during the quarter. ERC set to come online in 4Q2019: The Egyptian Refining Company (ERC) is […]
Author Archives: enterpriseam admin
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inTHE MACRO PICTURE
EMs need not worry too much about slower world growth, analyst says
Are EMs in a better position than developed markets to withstand slower world growth? Positive real interest rates and smaller fiscal deficits are providing emerging market policymakers a range of policy tools with which to combat the global economic slowdown, argues the Financial Times (paywall). In a time where developed countries are running out of […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 29 September 2019: Israel, Libya, tourism and travel
Leading the conversation in the foreign press on Egypt over the weekend is the second round of protests that took place on Friday. We have the full story in this morning’s Speed Round, above. Other stories getting attention: Libya doesn’t like us: Libyan PM Fayez Al Sarraj said “interference” from Egypt, France and the UAE […]
Posted inWorth reading
Egypt’s khayamiya has to evolve to survive
Egypt’s khayamiya has to evolve to survive: The ancient art of khayamiya is unique to Egypt, but despite enduring for years, it is now most likely to draw attention because of the multiple threats it faces, Stephanie Vermillion writes for Atlas Obscura. These include a dearth of tourism, competition from cheaper textiles imported from overseas […]
Posted inDiplomacy + Foreign Trade
China aims to more than double investments in Egypt to USD 15 bn
China is looking to more than double its investments in Egypt to USD 15 bn from USD 7 bn currently, Chinese Ambassador to Cairo Liao Liqiang said on the sidelines of the China Trade Fair in Cairo. Liqiang did not provide a timeframe, but said he expected a business delegation to visit Cairo soon for […]
Posted inDiplomacy + Foreign Trade
Egypt, Cyprus, and Greece discuss trilateral cooperation at UNGA
Egypt, Cyprus, and Greece discuss trilateral cooperation at UNGA: Foreign Minister Sameh Shoukry met with his Cypriot and Greek counterparts, Nicos Christodoulides and Nikos Dendias, on the sidelines of the UN General Assembly in New York, to discuss the diplomatic ties between the three countries, according to a ministry statement. Shoukry suggested that the seventh […]
Posted inEnergy
EGAS cancels third consecutive LNG tender
EGAS has canceled an LNG tender for six cargoes from the Idku gas liquefaction plant for loading between 5 October and 1 November, three market sources told Reuters without providing a reason. This is the third consecutive tender cancelled by the company. The tender canceled last month was due to low bids, sources told the […]
Posted inInfrastructure
Acwa Power to submit offers for desalination plants in Egypt “in coming weeks”
Saudi’s Acwa Power is planning to submit in “the coming weeks” an offer to the government to set up water desalination plants in coastal cities, according to a cabinet statement following a meeting between Prime Minister Moustafa Madbouly, Energy Minister Mohamed Shaker, and Acwa Chairman Mohammad Abdullah Abunayyan. This would be Acwa’s first desalination venture […]
Posted inTourism
Egypt’s tourist arrivals increase 30% in 2019
Tourist arrivals have increased some 30% y-o-y so far into the year, Egyptian Travel Agencies Association boss Hossam El Shaer said. Arrivals came in at 11.34 mn visitors in 2018, leading to a 50% y-o-y increase in revenues to USD 11.4 bn throughout the year, up from USD 7.6 bn in 2017.