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Japanese companies want clarity on gov’t policy toward automotive assembly industry before committing to new investments: Japanese automotive companies are interested in investing more in Egypt, but are waiting for clarity on government policy, Japanese Ambassador to Egypt Masaki Noke said. “If you have a trade agreement, you can import from Europe, Turkey and other […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s Orascom Construction releases 3Q2018 results
EARNINGS WATCH- Construction giant Orascom Construction announced overnight (pdf) like-for-like net income of USD 69.1 mn in 3Q2018 (up more than 208% year-on-year) on revenues of USD 2.2 bn. The adjusted net income figure reflects a one-time provision one-off provision for a case in the United States involving a subcontractor at OC’s now-completed Iowa fertilizer […]
Posted inSpeed Round
Egypt court fines former CAF head Hayatou and secretary Amrani EGP 1 bn
Court slaps former Confederation of African Football officials with EGP 1 bn fine for antitrust violations: A Cairo Economic Court has fined former Confederation of African Football (CAF) head Issa Hayatou and former CAF Secretary-General Hisham El Amrani a combined EGP 1 bn for anti-competitive practices, Egyptian Competition Authority (ECA) head Amir Nabil said in […]
Posted inSpeed Round
El Sisi holds talks with MbS on Egypt-Saudi investment and joint projects
President Abdel Fattah El Sisi held talks yesterday with Saudi Crown Prince Mohammed bin Salman, who landed in Cairo on Monday, according a statement from Ittihadiya. The two discussed collaboration on investment, economic, and national security issues as well as regional diplomacy. Reports of the USD 5 bn King Salman Causeway made the press: Construction […]
Posted inSpeed Round
Will Israel’s pipeline dream ever come true?
Is Israel’s pipeline dream realistic? Israel’s ambitions to build a USD 7-8 bn pipeline to supply natural gas to Europe by 2025 might be a little too optimistic, Gabriel Mitchell, an expert in Israeli government and international affairs, writes in an opinion piece for Globes. Israeli Energy Minister Yuval Steinitz announced last week that his […]
Posted inSpeed Round
Correction
CORRECTION- We fudged the numbers from CAPMAS’ report on road accidents in Egypt in yesterday’s issue. The total number of accidents in 1H2018 dropped to 4,426 from 5,826 during the same period last year, not the other way around. H/t Tarek B.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the News on 28 November 2018
Mo Salah, animal lover, tops coverage of Egypt in the foreign press: Displacing MbS’ visit to Cairo from the global headlines is Liverpool star Mohamed Salah coming out to condemn a controversial — and unconfirmed — proposal to export our nation’s stray cats and dogs to countries that use them for food. The story is […]
Posted inON THE FRONT PAGES
MbS’ meeting with El Sisi in Cairo leads the conversation in state dailies
Crown Prince Mohammed bin Salman and President Abdel Fattah El Sisi’s sit-down yesterday is leading the conversation in Egypt’s three state-run newspapers this morning. The top headline in Al Gomhuria focuses on the warm welcome MbS received in Cairo, while Al Ahram and Al Akhbar feature nearly identical headlines on El Sisi stressing direct correlation […]
Posted inWorth reading
Egypt’s consumers are adjusting to a new status-quo two years after devaluation
Consumer confidence in Egypt fell by three points q-o-q to a reading of 80 on Nielsen’s Global Consumer Confidence Index for 2Q2018. Egypt and South Africa are the only two countries in the Middle East and Africa to see their consumer confidence readings decline, according to the index, which measures economic optimism. But, when compared […]