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Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s attendance at the G7 summit and a USD 500 mn Lulu Hypermarket agreement received talk show coverage last night
It was a quiet night on the airwaves yesterday, with President Abdel Fattah El Sisi’s meetings with Trump and Boris Johnson on the sidelines of the G7 summit meriting only a brief mention by Masaa DMC’s Eman Hosary (watch, runtime: 00:21). The president mainly focused on exploring solutions to Africa’s challenges, fighting terrorism and climate […]
Posted inSpeed Round
Egypt’s rate cut makes the market even more attractive to investors, says Credit Suisse
Egypt’s rate cut makes the market even more attractive to investors, says Credit Suisse: The CBE’s interest rate cut last week is making Egypt — already a “fundamentally attractive” market — all the more appealing for institutional investors, Credit Suisse’s Managing Director and Head of MENA equities Ahmed Badr told Bloomberg (watch, runtime: 04:49). Badr […]
Posted inSpeed Round
Egypt signs USD 500 mn agreement with India’s LuLu Hypermarket
INVESTMENT WATCH- Egypt signed a USD 500 mn agreement with India’s LuLu Hypermarket on Monday for four new retail outlets in Sixth of October City, New Cairo, and Obour City, the cabinet said in a statement. The company is also planning to build two logistics centers from which it will be targeting exports, particularly frozen […]
Posted inSpeed Round
Health Ministry permanently suspends El Ezaby, Roshdy from pharmacy registry
DISPUTE WATCH- Health Ministry permanently suspends El Ezaby, Roshdy from pharmacy registry: A Health Ministry body has permanently removed pharmacists Ahmed El Ezaby and Hatem Roshdy from its registry over licensing-related breaches, Al Shorouk reported. The ministry’s Central Administration for Free Treatment and Licensing (CAFTL) has reportedly notified the Pharmacists Syndicate of its decision to […]
Posted inSpeed Round
Parliament to review Data Protection Act in October
LEGISLATION WATCH- Parliament to review Data Protection Act in October: A draft of the Data Protection Act will be presented to the House of Representatives in October, Mohamed Hegazy, the head of the Communication Ministry’s legislation committee, told Al Mal. The legislation would introduce minimum one-year prison terms and fines ranging between EGP 100k and […]
Posted inSpeed Round
El Sisi meets Trump, Johnson and Macron at G7 summit
Warm words between El Sisi and Trump at G7 summit: US President Donald Trump said that Egypt has made “tremendous progress” during talks with President Abdel Fattah El Sisi yesterday, according to a White House statement. The two leaders met for the first time since April on the sidelines of the G7 summit in France […]
Posted inSpeed Round
Elsewedy Electric Profits inches down 2.6% y-o-y in 2Q2019
EARNINGS WATCH- Elsewedy Electric’s net profit dropped 2.6% y-o-y in 2Q2019 to EGP 957.8 mn, down from EGP 983.8 mn during the same period last year, the company said in its earnings release (pdf). Revenues increased 2.1% to EGP 10.3 bn, which the company says was driven primarily by its turnkey projects segment. “Elsewedy Electric […]
Posted inSpeed Round
Ahmed El Bassiouny named Central Bank of Egypt’s sub-governor for economic research
MOVES- Ahmed El Bassiouny named CBE sub-governor for economic research: Ahmed El Bassiouny (LinkedIn) has been appointed as sub-governor of the economic research at the Central Bank of Egypt (CBE). El Bassiouny succeeds Naglaa El Nozahy, who is currently the governor’s advisor on African affairs, Middle East News Agency reported. El Bassiouny will also maintain […]
Posted inSpeed Round
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