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INVESTMENT WATCH- BP wasn’t the only one pledging new investments, as Dubai-based Emirates National Oil Company (Enoc) said yesterday it is eyeing new investment in Egypt through its wholly-owned subsidiary Dragon Oil, according to the National. “Investing in Egypt’s market, the third largest in Africa, complements our business strategy to go beyond the UAE and […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Production from the Zohr offshore gas field will reach 2.9 bcf/d by mid-2019
Production from the Zohr offshore gas field will reach 2.9 bcf/d by mid-2019, said Eni CEO Claudio Descalzi at the conference. The goal was to reach output of 1.8-2 bcf/d by the end of 2018 and then ramp up to 2.9 bcf/d by mid-2019, he added, according to Reuters. Descalzi also spoke on the potential […]
Posted inSpeed Round
Lagarde praises Egypt’s “courage,” points to 5% growth and “benefits for the people” from “big stabilization”
IMF Managing Director Christine Lagarde singled out Egypt in her praise of the “courage” Arab countries have shown in implementing economic reforms, according to CNBC. “If we look at Egypt, which has gone through a really tough time, and where the Egyptian people have shown courage, and the Egyptian leader, courage — we have seen […]
Posted inSpeed Round
Washington backs Egypt’s war on terrorism, says Tillerson
Washington stands by Egypt and is “committed” to supporting it in its war on terrorism, US State Secretary Rex Tillerson said yesterday after meeting with President Abdel Fattah El Sisi, according to an Ittihadiya statement (pdf). “The President noted that Egypt looks forward to forging closer economic cooperation with the US and to increasing American […]
Posted inSpeed Round
Daesh calls for attacks during Presidential elections as Operation Sinai 2018 intensifies
Daesh calls for attacks during presidential elections as Operation Sinai 2018 intensifies: The Daeshbags have reportedly put out a video urging their fighters to stage terror attacks during next month's presidential elections and warning Egyptians to stay away from polling centers, according to the Associated Press. The video, which calls the elections an act of […]
Posted inSpeed Round
Iraq looks to Egypt as a model
Iraq will follow Egypt’s model on economic reforms as it begins a USD 88 bn reconstruction process after three years of war with Daesh, Iraqi Central Bank Governor Ali Mohsen Al Allaq told Al Shorouk on the sidelines of an international donors’ conference in Kuwait yesterday. It is unclear whether this implies a possible devaluation […]
Posted inSpeed Round
EFG Hermes research to cover new Latin American markets
CORRECTION- Our friends at EFG Hermes are not planning to expand to Latin America, as reported by Al Mal. EFG Hermes clarified instead that they’re going to launch research coverage of some Latin American markets, including Peru and Argentina. The incorrect entry has been removed from our web edition.
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Emerging markets have outperformed during the market selloff, smaller markets including Egypt were the stars -Bloomberg
Emerging markets are coming out of the recent global selloff “looking better than their richer counterparts, especially the US.” Not only are developing economies “well supported by earnings growth,” but in the last two weeks, their levels of expected volatility collectively rose at a slower rate and degree than more developed counterparts, Srinivasan Sivabalan writes […]
Posted inEGYPT IN THE NEWS
SNL ban dominates foreign media coverage of Egypt
The Supreme Media Council’s ban on SNL Arabia is topping coverage of Egypt in the English-language press this morning, with stories from the Guardian, AFP, Chortle, and Arab News. The show was suspended on Sunday for making [redacted] references and using inappropriate language. Coming in second was US Secretary of State Rex Tillerson’s visit to […]