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EARNINGS WATCH - Eastern Company reported a net profit of EGP 2.32 bn, a 160.84% y-o-y increase for 1H2017-2018, according to a bourse filing. Revenues for the period grew 36% y-o-y to EGP 1.78 bn.
Author Archives: enterpriseam admin
Posted inSpeed Round
Italy could become Europe’s main natural gas hub, an exporter for the first time
Relevant to Egypt’s ambition as a regional gas and energy export hub: Italy is the new “center of gravity in Europe’s natural gas market” and could soon find itself an exporter for the first time in its history, according to Bloomberg. The country’s favorable geography makes it “very well positioned to act as a hub,” […]
Posted inSpeed Round
Saudi reaches settlement agreements worth a collective SAR 400 bn in corruption crackdown
Saudi reaches settlement agreements worth a collective SAR 400 bn in ‘corruption crackdown’: Saudi Arabia will be collecting SAR 400 bn (c. USD 107 bn) from settlement agreements it has reached so far with businessmen who were detained on corruption charges, a statement from the country’s Center for International Communication said yesterday. The amount is […]
Posted inSpeed Round
Full float of Morocco’s currency 5-15 years away, says central bank governor
It may take Morocco five to 15 years to fully liberalize its currency regime, central bank Governor Abdellatif Jouahri tells Bloomberg, as floating the MAD is “dependent on other reforms including strengthening the country’s export base and reducing the current-account deficit.” Morocco began implementing a more flexible exchange rate earlier this month, widening the MAD […]
Posted inSpeed Round
Correction
CORRECTION- The Egyptian Competition Authority announced on Tuesday that officials from Qatar’s BeIN Sports, including Chairman Nasser Al-Khelaifi, had been slapped with a EGP 400 mn fine in an antitrust case the ECA brought up with the Cairo Economic Court. Some news outlets had reported on Monday that the fine was EGP 400k.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Other international coverage
It’s a reasonably quiet morning for Egypt in the international press, with coverage focused largely on the presidential election, where the Lawfare blog spoke for the hive mind with its headline that “Egypt finds a token candidate to run against Sisi.” Dominating a narrative is a piece from Associated Press bureau chief Hamza Hendawi noting […]
Posted inOn Deadline
Columnists are not happy with how the presidential elections have been set up
After weeks of hoping for a pluralistic election, the nation’s columnists are not at all happy with how the race is shaping up. Al Shorouk’s Emad El Din Hussein wishes that the state had pushed forward its candidate of choice into the race a little bit earlier in the game to avoid making his entry […]
Posted inWorth watching
Barcelona experimenting with superblock urban design
City planners in Barcelona are rethinking the way we approach urban development and coming up with solutions for congestion and its effects, according to a video report by Vox. The idea revolves around the concept of a “superblock,” clustering several blocks together and closing them off to major forms of traffic to create more space […]
Posted inDiplomacy + Foreign Trade
Egypt could establish industrial pharma city in Iraq
Egypt is ready to establish an industrial pharma city project in Iraq, Health Ministry spokesperson Khaled Megahed said yesterday, Al Shorouk reports. The announcement followed a meeting between Iraqi President Fuad Masum and Health Minister Ahmed Rady, who is in Baghdad for a three-day visit to discuss Egypt’s role in reconstruction efforts there as part […]