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The “sharp rise” in Egypt’s external debt since 2015 could be cause for alarm but “the risks are currently manageable,” Capital Economics says in a research note. There are obvious downside risks to external debt, including “roll-over risks — if risk appetite deteriorates, it can become much more difficult to access new financing from abroad […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Lawsuit filed against Emaar Misr over Marassi land plot
DISPUTE WATCH- Emaar Misr sued over Marassi land plot: Businessman Waheed Raafat has filed a legal case against Emaar Misr claiming to own 400 feddans of the land plot on which real estate developer Emaar Misr has built its Marassi compound in Sahel, Reuters reports. The first court hearing for the case has been scheduled […]
Posted inSpeed Round
Egypt seeking USD 2.5 bn of financing for monorail project
Gov’t eyes USD 2.5 bn loan for monorail project: The government is seeking a USD 2.5 bn loan to finance the monorail project linking Cairo to 6 October and the new administrative capital, Khalid Hamza, deputy head of the European Bank of Reconstruction and Development’s (EBRD) Egypt office, told Al Mal. Egypt is seeking USD […]
Posted inSpeed Round
Earnings watch: Orascom Development Egypt, Arabian cement
EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an EGX earnings statement (pdf). Revenues for the quarter climbed 50.9% to EGP 1.32 bn, up […]
Posted inSpeed Round
Export Development Authority to get new boss
MOVES- Abdel Aziz Sherif met with Trade Minister Amr Nassar to discuss becoming the new head of the Export Development Authority following Khaled Youssef’s resignation earlier this week, a Trade Ministry source told Youm7. Sherif should take up the position in early September.
Posted inSpeed Round
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Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the news on 21 August 2019
Mo Salah “sets the record straight” on Warda controversy: Mohamed Salah sat down for an interview with CNN to “set the record straight” on his role in the Amr Warda controversy and his position on women’s rights in the region. Salah didn’t really back down from his position, saying that his defense of Warda was […]
Posted inDiplomacy + Foreign Trade
Egyptian QIZ exports record USD 472 mn in 1H2019
Egypt’s exports from Qualifying Industrial Zones (QIZ) increased 6.7% y-o-y to USD 472 mn in 1H2019, according to the local press. An unnamed source at the QIZ unit at the Trade Ministry said textiles and readymade garments made up 97% of the exports, while food and glass products comprised the rest. Participants in the QIZ […]
Posted inEnergy
EGPC to launch new oil and gas exploration tender by the end of the year
State-owned Egyptian General Petroleum Corporation (EGPC) plans to launch a new oil and gas exploration tender by the end of the year, Oil Ministry sources told the local press. The tender is expected to include eight to 12 concession blocks in the Western Desert, the Gulf of Suez, and the Eastern Desert.