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In miscellany this morning: We like standing desks for our backs and hips — but using one doesn’t qualify as exercise, and there’s no real research proving that sitting at work will kill you. (NYT) 4am starts and spinach smoothies: Da Vinci Code's Dan Brown on how to write a bestseller. (Guardian) Four on the […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
With no clear theme in Egypt’s news, talking heads take note of Universal Children’s Day
No particular theme dominated last night’s talk shows, save for a few talking heads taking note of Universal Children’s Day. Egypt currently has some 38.9 mn citizens under the age of 18, Hona Al Asema’s Lama Gebril said, citing CAPMAS figures (watch, runtime: 5:55). As the government looks to contain Egypt’s population growth, the Social […]
Posted inSpeed Round
Egypt and UK in early talks of post-Brexit freetrade agreement
Egypt and the UK are reportedly in “early talks” over a post-Brexit trade agreement, government sources told the domestic press yesterday. The agreement is necessary as the UK looks set to abandon a trade pact that saw Egypt and the European Union cut tariffs, quotas and barriers to the sale of agricultural products and manufactured […]
Posted inSpeed Round
Exec regs are due this week for the one ‘reform’ bill business could come to dread
Executive regulations are due this week for one piece of “reform” legislation the business community could come to dread. The Madbouly Cabinet is reportedly set to approve this week the executive regulations for the amended Consumer Protection Act, unnamed sources at the Consumer Protection Authority tell Amwal Al Ghad. The law gives the CPA the […]
Posted inSpeed Round
Egypt’s budget deficit narrowed to 1.9% in 1Q18-19
Egypt’s budget deficit narrowed slightly to 1.9% during the first quarter of FY2018-19, down from 2% during the same period in the last fiscal year, Finance Minister Mohamed Maait said, according to Reuters. Maait said the narrowing of the deficit indicates that Egypt is on track to meet its budget deficit target of 8.4% for […]
Posted inSpeed Round
Egypt’s non-oil industrial output climbs to EGP 168.5 bn in 1Q2018
Egypt’s non-oil industrial output jumped 32% in 1Q2018 to EGP 168.5 bn, up from EGP 127.7 bn in the same quarter last year, according to a CAPMAS release. Food products accounted for 23% of overall output while steel production accounted for 19.2%.
Posted inSpeed Round
Egypt releases EGP 504 mn in export subsidy funds
Gov’t disburses EGP 504 mn in export subsidy funds: Finance Minister Mohamed Maait has disbursed EGP 504 mn in export subsidy funds, bringing total payouts in recent months under the state-run Export Subsidy Fund to EGP 1.2 bn, the ministry said in a statement. The fund is supposed to pay out 8-12% of the value […]
Posted inSpeed Round
CBE sells USD 1.7 bn USD-denominated T-bills, repurchases USD 2.6 bn T-bonds
The central bank sold USD 1.7 bn-worth of one-year USD-denominated treasury bills on Monday at an average yield of 3.697%, it said on its website. Egypt also issued on Monday USD 2.57 bn-worth of treasury bonds in two tranches: A USD 860 mn series with a 2026 maturity at 7.12% and a USD 1.76 bn […]
Posted inSpeed Round
Investors to buy 20-25% stake in Ostoul Capital Group
M&A WATCH- Gulf investors are acquiring as much as 25% of Ostoul Capital Groupunder a planned capital increase, CEO Ali Al Ghannam told Al Mal. Funds from the EGP 50 mn capital increase will allow the firm to grow its brokerage arm, Al Ghannam said, adding that Ostoul is exploring potential investments in the health […]