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Posted inEnterprise+: Last Night’s Talk Shows
Another humdrum night on the airwaves
The Education Ministry has closed down several unlicensed private tutoring centers in recent raids, Education Ministry spokesperson Ahmed Saber told Hona Al Asema. Legal action was also taken again unlicensed tutors, while registered teachers found working at these institutes have been referred to the ministry for investigation. The ministry will be launching its own after-school […]
Posted inSpeed Round
Egypt competition watchdog says Ousta’s death pushed it to act on Uber, Careem merger
** #2 Competition watchdog says Ousta’s collapse pushed it to act on Uber, Careem merger: The shutdown of Egyptian ride-hailing app Ousta signaled that the Egyptian Competition Authority (ECA) needed to keep an eye on the fast-growing industry, ECA head Emir Nabil said at a press conference on Monday, according to AMAY. “There is a […]
Posted inSpeed Round
Egypt’s real estate, construction and hospitality sectors won attention of foreign investors in 2017
** #2 2017 wasn’t a great year for foreign investment in Egypt, but real estate, hospitality and construction were winners (at least on a project-count basis), according to a 2017 EY Africa report on FDI (pdf) released yesterday. The report, which looks at FDI on a volume-of-projects basis as opposed to in USD terms, says […]
Posted inSpeed Round
Madbouly gov’t at work on 2019-20 budget, sees GDP growing at 6% clip and oil at USD 80 / bbl
** #4 EXCLUSIVE- The Madbouly government has started work on the FY2019-20 budget, with various government departments tallying up their budgets and projection, a senior government official told us yesterday. The government is targeting GDP growth of 6% in its next fiscal year, up from 5.5% this fiscal year. The Finance Ministry apparently expects the […]
Posted inSpeed Round
Egypt’s non-oil exports rose 11% in 9M2018
** #5 Egypt’s non-oil exports rose 11% y-o-y in 9M2018 to USD 18.5 bn, up from USD 16.6 bn in the same period last year, data from the General Organization for Export and Import Control (GOEIC) showed. Imports have gone up 14% y-o-y in the same period, reaching USD 49.1 bn from USD 43.2 the […]
Posted inSpeed Round
Egyptian Exchange boss Farid says global volatility risks countries adopting “inward-looking” growth models
** #6 Global economic volatility could force countries to adopt “inward-looking,” consumer-driven growth models, says Farid: Global economic volatility could lead to policy changes and new growth models being adopted around the world, EGX Chairman Mohamed Farid told Zawyaon the sidelines of the annual conference of the Federation of Euro-Asian Stock Exchanges (FEAS) in Abu […]
Posted inSpeed Round
Enara wants to invest USD 200 mn to sell solar power direct to Egypt consumers
INVESTMENT WATCH- Enara wants to invest USD 200 mn to sell solar power direct to consumers: Enara Capital is lining up capital for a USD USD 200 mn pipeline of solar power projects with a combined generation capacity of 200 MW, CEO Sherif El Gabaly said. The company is in talks with the government to […]
Posted inSpeed Round
Egypt in talks with Chinese investor to build solar panel factory in Aswan
INVESTMENT WATCH- Military Production Ministry in talks with Chinese investors on USD 1 bn solar panel plant: The Military Production Ministry is in talks with an unnamed Chinese company to partner on a USD 1 bn solar panel factory in Aswan, ministry officials tell Al Mal. The ministry plans to hold a 51% stake in […]
Posted inSpeed Round
House looks at legislation which could cut down on Egypt’s int’l arbitration cases
LEGISLATION WATCH- House mulls legislation that could make it easier to clear Egypt’s arbitration backlog: The House of Representatives’ Legislative Committee is reviewing a law that could help fast-track the resolution of investor disputes that center on state-owned companies where the Administrative Court has tried to reverse privatizations ales. The law would allow the Prime […]