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And while we’re basking in this glow of macro positivity, here’s one more: NBK expects Egypt growth to maintain strong momentum. Public investment spending, rebounding tourism and increasing natural gas output will help the Egyptian economy maintain its strong growth momentum in 2019, according to a research note by the National Bank of Kuwait. Tourism […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Expect pick-up in real estate stocks, says EFG Hermes
So, which stocks should you pick? Look at real estate stocks this year, says EFG Hermes: 2019 will be a better year for real estate stocks after last year’s squeeze, EFG Hermes Head of MENA Strategy Mohamed Al Hajj told Bloomberg TV (watch, runtime: 2:21). “If we see continued falling inflation and interest rates, we […]
Posted inSpeed Round
Israel, Egypt in early talks to build new natgas pipeline
Egypt and Israel are in early talks to build a new underwater natural gas pipeline, on which construction could begin as early as next year, Israeli Energy Minister Yuval Steinitz tells Bloomberg. The line would allow Israel to export more natgas into Egypt from its Leviathan and Tamar fields — “much more” than the maximum […]
Posted inSpeed Round
Egypt’s officials required to obtain president approval for high-rank diplo missions
High-ranking officials need presidential sign-off on diplomatic missions: President Abdel Fattah El Sisi announced yesterday that senior officials embarking on diplomatic missions will be required to obtain presidential approval, according to a decree published in the official Gazette (pdf). The requirement applies to the prime minister and his deputies, the ministers of defense, interior, justice […]
Posted inSpeed Round
New president of Industrial Development Authority
MOVES- Magdy Ghazi was appointed the acting head of the Industrial Development Authority (IDA) by decree of the Madbouly Cabinet, according to Youm7. Ghazi, who had served as the former deputy head of the IDA, subsequently spoke of the IDA’s plan to expand access to industrial land to manufacturers, local sources report. The agency plans […]
Posted inSpeed Round
Earnings watch: Egypt’s QNB Al Ahli reports net profit of EGP 7.2 bn in FY 2018
EARNINGS WATCH- QNB Al Ahli reported a net profit of EGP 7.20 bn in FY2018, up 30% y-o-y from EGP 5.52 bn in FY2017, according to QNB's financial statement (pdf).
Posted inSpeed Round
CORRECTION- We had noted a piece from Al Borsa yesterday that claimed the Investment Ministry had selected McKinsey & Company to advise on its global investment promotions strategy. Ministry sources tell us now that no decision has yet been reached on the advisor. The piece has been removed from our website and the original Al […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the news on 16 January 2019
On a slow morning in the foreign press, a handful of headlines worth noting in brief: The newly-established regional natgas alliance “formalizes growing energy ties among recent rivals,” Foreign Policy says. Few sites around the world rival the Giza Pyramids, Business Insider correspondent Harrison Jacobs says after paying a visit. An archaeological team has discovered […]
Posted inWORTH A LISTEN
Genome editing: A scientific miracle?
Genome editing: A scientific miracle? After the highly controversial revelation in November last year from Chinese scientist He Jiankui that he had created the world’s first genetically edited twin babies, the ethics of genome editing have moved from classroom theory to real-world problem. Throwing ethical questions and a lifetime of Michael Crichton novels aside, developmental […]