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Dominating global business headlines this morning: Top-secret Saudi Aramco financials have leaked, and it looks like that USD 2 tn MbS is hoping for might be a stretch. Bloomberg claims to have gotten a look at Saudi Aramco’s pro-forma IFRS financials and found it made USD 33.8 bn in profit in the first half of […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
Look for a busy week on diplomacy front as Arab leaders meet in KSA following Syria air strikes.
Otherwise, expect the next couple of days to be heavier than usual on news from the diplomatic front: The United States, Britain and France launched joint airstrikes on Syria on Saturday morning, the biggest international escalation in the seven-year conflict and the sharpest intervention yet by the West. The three countries launched 105 missiles overnight […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Finance Minister Amr El Garhy will head to Washington, DC, on Monday for the IMF and World Bank’s Spring Meetings from April 16-22. Investment Minister Sahar Nasr and Central Bank Governor Tarek Amer are also attending, Al Masry Al Youm says. You can check out the landing page for the spring meetings here.
Posted inON THE HORIZON
On the horizon
Egypt calls for fresh round of GERD talks next week: Egypt has invited Sudan and Ethiopia to another round of negotiations over the Grand Ethiopian Renaissance Dam (GERD) in Cairo on 20 April, Foreign Minister Sameh Shoukry told Ahram Gate. The ministry also released a statement on Thursday rejecting reports that Egypt was the reason […]
Posted inEnterprise+: Last Night’s Talk Shows
Syria airstrikes, Arab League summit, budget talks on last night’s talk shows
Airstrikes by the US, UK, and France against Syria dominated the debate on the airwaves last night. Egyptian officials were not given prior notice of the strikes, according to Foreign Minister Sameh Shoukry, who told Kol Youm’s Amr Adib that Cairo has always been against military escalation in Syria. Shoukry also said that Egypt has […]
Posted inSpeed Round
Gov’t budget bridging is out, sees inflation dropping to low of 10% in FY2018-19
BUDGET WATCH- Government sees inflation dropping to low of 10% in FY2018-19: The Finance Ministry issued its pre-budget report for FY2018-19 on Friday (pdf) in which it outlines the broad strokes of the budget and its priorities for the economy and public spending. The government is predicting that inflation will continue to cool into 2019, […]
Posted inSpeed Round
Why aren’t ratings agencies seeing the same picture as investors when it comes to Egypt?
Why aren’t ratings agencies seeing the same picture as investors when it comes to Egypt? “Egypt is bucking the conventional wisdom when it comes to gauging a country’s ability to repay its debt,” writes Bloomberg’s Ahmed Feteha. With a B3 rating from Moody’s and B- from S&P, Egypt is ranked below Nigeria and Argentina by […]
Posted inSpeed Round
Disney extends contracts with Egyptian companies manufacturing its products until December 2019
Disney extends contracts with Egyptian companies manufacturing its products until December 2019: The Walt Disney Company has given Egyptian companies that manufacture products carrying its trademark and logo an extension on their production licenses until December 2019, the Trade and Industry Ministry announced in a statement yesterday. The extension allows manufacturers to expand the size […]
Posted inSpeed Round
Three Egyptian law firms get nods from Global Arbitration Review’s list of top 100 law firms
Three Egyptian law firms have won nods in Global Arbitration Review’s list of top 100 law firms for international arbitration in its 2017 review, including Zulficar & Partners, Youssef & Partners and Matouk Bassiouny. The review “is a guide to the international arbitration capabilities of law firms.”