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INVESTMENT WATCH- It looks like this “100% Arab car” is happening, and it’s happening here: The Arab Organization for Industrialization (AOI) has signed a cooperation agreement with the UAE’s Sandstorm Automotive to manufacturing four-wheel-drive vehicles, according to AOI head Abdelaziz Seifeldin. Under the agreement, AOI will begin assembling vehicles for Sandstorm in Egypt. No details […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Government buys less domestic wheat in 2018 than it did last year
Supply Ministry’s domestic wheat purchases fall short of target as 2018 harvest season comes to a close: The Supply Ministry’s domestic wheat buying season ended yesterday with the state having bought 3.15 mn tonnes at a cost of EGP 12 bn, according to a statement. That’s significantly short of the ministry’s short of its initial […]
Posted inSpeed Round
Contractors Compensation Act high on Madbouly Cabinet agenda
CABINET WATCH- Contractors Compensation Act high on Madbouly Cabinet agenda: The focus of the Madbouly Cabinet’s weekly meeting yesterday appears to have been paying out compensation to government contractors under the Contractors Compensation Act, according to a cabinet statement. Ministers reviewed a report, which showed that EGP 2.7 bn were disbursed to contractors out of […]
Posted inSpeed Round
KSA to ramp up production to a record 10.8 mn bpd
Saudi Arabia reportedly plans to pump a record 10.8 mn barrels of crude a day starting July under a pact with OPEC that should see global oil output rise by 1 mn bpd for the second half of the year, unnamed sources tell Bloomberg. Energy Minister Khalid Al Falih said last week that Saudi would […]
Posted inSpeed Round
Peace in South Sudan
Peace in South Sudan: Salva Kiir, the South Sudan president and longtime Egypt ally, signed a peace agreement on Wednesday in the Sudanese capital of Khartoum with rebel leader and former Vice President Riek Machar. The pact aims to end a five-year civil war between the two factions. “The parties will continue talks in Khartoum […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Saudi’s MSCI EM classification gives GCC expansive position in the index
Saudi’s MSCI EM classification gives GCC a significant position in the index: Saudi Arabia’s entry last week to the MSCI Emerging Markets equity index had given the GCC an outsized role in the index and increased GCC ownership stakes in EMs, writes Steve Johnson for the FT. This is especially true when taking into account […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 28 June 2018
It is a blessedly slow morning for Egypt in the international press.
Posted inOn Deadline
Drawing the line between public/private responsibilities
In the unlikely event you needed a reminder: Not everyone in this country thinks the private sector should take the lead in the economy. Witness Ashraf El Berbery, who writes for Al Shorouk that the government is neglecting its role in providing public services to low-income groups as it looks to close its budget deficit. […]
Posted inWorth reading
Skeletal records from Ancient Egypt show that cancer rates have been “actively getting worse”
Skeletal records from Ancient Egypt hint that cancer rates have been “actively getting worse”: An analysis of 1,087 skeletons from Ancient Egypt’s western desert found lesions “likely consistent with carcinoma” in only six of them, according to Alphr. “Using this data, we can estimate that the Egyptian cancer rate was around one in 1,000. The […]