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EARNINGS WATCH- Plenty of our friends in corporate Egypt have reported results in the past 24 hours: Edita Food Industries reported a 50.8% y-o-y jump in its bottom line for 1Q2018 to EGP 60.9 mn, up from EGP 40.4 mn in the comparable quarter last year. Net profit climbed on the back of higher revenues, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egyptera will need another month to reshape electricity prices
Egyptera still hashing out structure of July electricity price hike: The Egyptian Electricity Utility and Consumer Protection Agency (Egyptera) is reportedly still working on the final structure of the price hikes it is expected to roll out in July as the government looks to slash electricity subsidies by 47% in the next fiscal year. Sources […]
Posted inSpeed Round
House passes procurement act and law granting Industrial Development Authority full autonomy from trade ministry; shopping centers act gets nod in committee
LEGISLATION WATCH- House passes law granting IDA autonomy from Trade and Industry Ministry: The House of Representatives gave its final nod yesterday to legislation that gives the Industrial Development Authority (IDA) autonomy from the Trade and Industry Ministry, according to a ministry statement. MPs had signed off on the act back in January and sent […]
Posted inSpeed Round
Planning Ministry wants to amend Civil Service Act’s exec regs to increase annual raises for public sector employees
LEGISLATION WATCH- Planning Ministry wants to give civil servants bigger raises: The Planning Ministry has finalized amendments to the Civil Service Act’s executive regulations that would pave the way for public sector employees to receive bigger annual raises, government sources say. As it currently stands, the Civil Service Act stipulates that all public sector workers […]
Posted inSpeed Round
Death toll rises as Gaza violence continues for second day
The death toll from clashes between Gaza protesters and Israeli forces rose to more than 60 yesterday as demonstrations against the opening of a US embassy in Jerusalem continued for a second day.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
20 Egyptian Christians beheaded in Libya laid to rest in Minya church
The laying to rest of 20 Egyptian Christians beheaded in Libya in 2015 tops coverage of Egypt in the international press. The bodies were repatriated earlier this week. The burial is a “chance for some closure” for the victims’ families, who cried at the funeral service but said they are happy their remains were returned […]
Posted inEGYPT IN THE NEWS
Egypt’s equities have been a “performance standout” over the past year
Egypt’s equities “have been a performance standout” over the past year as economic reforms have begun to take hold, “breathing life into an economy that had been stymied by the after-effects of revolution,” says Seeking Alpha. Whereas the broad emerging markets index has an average return of 22%, Egyptian equities’ return stand at nearly 53%. […]
Posted inOn Deadline
The hate-arade on the metro ticket price continues
Today’s hate-a-rade flavor of choice among opinion writers: Metro ticket prices. The hike in metro ticket prices was both grounded in faulty economic logic and badly sold to the public, the nation’s columnists say. Ziad Bahaa El Din saysin a column for Al Shorouk that since the metro is not used by the rich, cutting […]
Posted inWorth reading
Global executives are increasingly seeing a business case for using blockchain
Global executives are increasingly seeing a business case for using blockchain, a report from Deloitte LLP found, according to Bloomberg. Of the 1,053 executives surveyed for the report, nearly 75% see a compelling business case for it and 84% forecast the mainstream adoption of blockchain in the near future. Considering that blockchain is “one of […]