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EARNINGS WATCH- SODIC reported 10% y-o-y growth in its bottom line to EGP 375 mn in 1H2018 with a strong net profit margin of 36%, the company said in its earnings release (pdf). Revenues for the six-month period came in at EGP 1.05 bn, compared to EGP 1.17 bn in the same period last year, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
CBE sells EUR 610 mn in EUR-denominated treasury bill auction
The central bank sold EUR 610 mn-worth of EUR-denominated treasury bills at an auction yesterday, according to a statement picked up by Reuters. The one-year bills will mature on 20 August 2019. “Appetite for Egypt’s domestic debt has grown since the central bank floated the [EGP] in November 2016,” the newswire notes. Foreign holdings in […]
Posted inSpeed Round
Single-shareholder companies go live today
Own your very own company today: Investment Minister Sahar Nasr signed off on the regulatory framework for issuing licenses for single-shareholder companies, according to a ministry statement. The model will allow small and micro-entrepreneurs to take advantage of the same benefits awarded to limited liability companies, which should help incentivize them to join the formal […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
A shuffle of the nation’s 27 governors will likely be announced after the Eid Al Adha holiday, an unnamed source from the Local Development Ministry tells Al Shorouk. The announcement of the shuffle has been postponed several times since since June, but sources had said earlier this week that as many as 12 governors could […]
Posted inImage of the Day
Gov’t begins tearing down Maspero buildings ahead of renovation
The government has begun tearing down buildings in Maspero as part of its urban development plan for the area Samy Magdy writes in a piece for the AP. The piece traces the history of the 19th century neighborhood. “Of the 4,500 families displaced by the demolition, about 900 will return to live in Maspero in […]
Posted inEGYPT IN THE NEWS
The western press discovers Sahel just in time for the Eid break
The western press (or at least the LA Times) has discovered the bacchanalia that is the Sahel scene just in time for the Eid break. The widening gap between the haves and have-nots in Egypt is particularly evident in Sahel, where “a proliferation of upper-crust watering holes with the rapid development of ever-newer, posher resorts” […]
Posted inOn Deadline
Private sector’s success hinges on extensive reforms, improvements
Extensive reforms and improvements to Egypt’s business climate are necessary to allow the private sector to flourish, Nashwa El Houfy writes for El Watan. These improvements extend beyond superficial measures such as public relations campaigns, and are integral to allow legislation encouraging business activity to be effective. El Houfy argues that the state’s bureaucracy and […]
Posted inWorth reading
Jakarta could end up underwater
Jakarta could soon end up underwater, and the Indonesian capital city only has a few years to pull the brakes on the impending disaster. Dubbed the “world’s fastest-sinking city,” Jakarta is ceding around 1-15 cm of its ground each year to rising water levels, according to BBC. Researchers at the Bandung Institute of Technology say […]
Posted inWorth watching
Vienna ranked as most liveable city in the world
Step aside, Melbourne. Vienna is now the world’s most liveable city. The Austrian capital scored 99.1 out of 100 in the Economist Intelligence Unit’s global liveability index, which looks at access to health care, education, infrastructure, culture, environment, political and social stability as key components of each country’s ranking. This year, Vienna ended Melbourne’s seven-year […]