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Gov’t is targeting 6.1% economic growth in its next fiscal year: The government is targeting a budget deficit of 7.2% of GDP and a GDP growth of 6.1% in FY2019-20, Finance Minister Mohamed Maait said yesterday, according to Reuters. The figures cited by Maait differ slightly from those included in the ministry’s mid-year review of […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt wants to subject real estate payment plans to FRA oversight
LEGISLATION WATCH- Gov’t wants to subject real estate payment plans to FRA oversight: Installment-based payment plans for real estate could soon be regualted by the Financial Regulatory Authority (FRA) under a legislative change now being mulled by the Madbouly government, unnamed government sources told the domestic press. The report suggests that officials believe real estate […]
Posted inSpeed Round
Earnings watch: EFG-Hermes and Al Ezz Dekheila Steel report 2018 results
EARNINGS WATCH- EFG Hermes is proposing an EGP 0.65 / share dividend for FY2018 pending approval of the financial service corporation’s shareholders, the company said as it announced its 2018 earnings (pdf). The group reported net profit of EGP 1 bn on revenues of EGP 4.3 bn. Notably, its non-bank financial services arm contributed more […]
Posted inSpeed Round
Cairo ranked among the world’s least expensive cities
Cairo is one of the least expensive cities in the world, according to the Economist’s Intelligence Unit’s 2019 Worldwide Cost of Living Survey (paywall). The findings are based on the comparative cost of 160 products and services in each location, including housing, transportation, utilities, clothing, private schooling, and domestic help, among others. The nation’s capital […]
Posted inSpeed Round
CORRECTION- We incorrectly said earlier this week that the annual football tournament between law firms was organized solely by Zulficar & Partners. The event was organized through the joint effort of the law firm community. The story has been updated in our web edition.
Posted inSpeed Round
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Posted inTHE MACRO PICTURE
Emerging-market volatility set to increase as elections approach
Emerging-market volatility set to increase as elections approach: It’s election season in several key emerging markets, and volatility is likely to increase as a result, according to Bloomberg. India, the world’s sixth-largest economy, will go to the polls in April, while South Africa, the continent’s largest economy, will vote in May. Other notable economies heading […]
Posted inEGYPT IN THE NEWS
Egypt tightens media regulations
Egypt’s stringent new media regulations are the talk of the international press this morning: The AP reports that the Supreme Media Council published late yesterday new regulations for media and social media platforms that would permit the government to block, without a court order, media sites and social media accounts with over 5k followers if […]
Posted inON THE FRONT PAGES
El Sisi urges youths to make stability priority
El Sisi urges youth to put stability on top of their priority list: President Abdel Fattah El Sisi said stability and protecting the state should be the youth’s first priority, Al Ahram reported this morning. The remark came during the ongoing Arab-African Youth Forum that kicked off in Aswan earlier this week. Both Al Gomhuria […]