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EARNINGS WATCH- Integrated Diagnostics Holdings (IDH) reported a 26% y-o-y increase in net profits to EGP 356 mn in 9M2018, according a regulatory filing (pdf). The consumer healthcare company’s 9M2018 revenues were up 25% y-o-y to EGP 1.38 bn. IDH’s focus on marketing efforts and test mix has “seen us extract higher value from increasing […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Suez Canal Authority amends contracts with companies over economic zone projects
Suez Canal Authority pulls land from “non-serious” investors: The Suez Canal Authority has amended several previously agreed contracts with companies operating in the Suez Canal Economic Zone (SCZone), withdrawing land from “non-serious investors,” authority head Mohab Mamish said in a statement picked by Ahram Gate. The statement singled out two companies by name, including one […]
Posted inSpeed Round
Maait appoints Yomna Khattab, Mai Farid as assistant ministers of finance
MOVES- Maait appoints new assistant ministers for fiscal policy, economic justice: Finance Minister Mohamed Maait tapped yesterday Yomna Akram Khattab (bio) as assistant minister of finance for fiscal policy and Mai Farid (bio) as assistant minister of finance for economic justice, Al Mal reports. Khattab was previously senior economist and deputy director of the macro-fiscal […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
FRA to look into Beltone’s appeal tomorrow: The Financial Regulatory Authority (FRA) will hold tomorrow a hearing to look into an appeal by Beltone Financial against the FRA’s six-month suspension of its investment banking arm, sources said, according to Al Mal. The hearing was postponed from last week the request of Beltone’s legal advisors, who […]
Posted inON THE FRONT PAGES
Egypt’s three state newspapers run with econ-focused stories on their front pages
The front pages of the country’s three state-run newspapers this morning feature stories relating to Egypt’s reform program and improving economic conditions. Al Gomhuria’s lead story is Prime Minister Moustafa Madbouly’s speech yesterday reassuring foreign business figures and diplomats that the economy has weathered the storm, while Al Ahram hits on the Supply Ministry’s attempted […]
Posted inEGYPT IN THE NEWS
Egypt uncovers pharaonic tomb in Luxor
Topping coverage of Egypt in the foreign press this morning is the discovery of a 3,000-year-old tomb in Luxor. Egyptian and French archaeologists unearthed a pharaonic tomb in the Theban necropolis of Al-Assasif housing mummies of a priest and his wife dating back to the 13th century, Antiquities Minister Khaled El Enany announced yesterday at […]
Posted inWorth watching
Are we about to witness a slowdown in US Fed rate hikes?
Are we about to witness a slowdown in US Fed rate hikes? The Federal Reserve’s top two officials said slower global growth is posing risks to the US economy, according to Bloomberg, prompting traders to expect fewer rate hikes in 2019. Many still believe a hike will take place in December, but expect the Fed […]
Posted inDiplomacy + Foreign Trade
Egypt, China to boost military cooperation, joint exercises, visits, and exchanges
Egypt and China agree to step up military cooperation: Armed Forces Chief of Staff Mohamed Farid and China’s State Councilor and Defense Minister Wei Fenghe agreed during a meeting in Beijing on Thursday to hold more frequent joint training, drills, and security visits between Egypt and China, Xinhua said on Thursday.
Posted inDiplomacy + Foreign Trade
Nasr proposes joint Arab investment council in Beirut forum
Nasr proposes joint Arab investment council in Beirut forum: Investment and International Cooperation Minister Sahar Nasr discussed a plan to establish a joint Arab investment authorities council with Investment Development Authority of Lebanon (IDAL) head Nabil Itani during a meeting in Beirut on Friday, according to a ministry statement. The council would include the General […]