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Egypt’s poverty line is expected to rise to EGP 700-800 during FY2017-18, up from EGP 482 amid the impact of the government’s ongoing economic reform program, Cairo University Professor of Statistics Heba El Laithy tells Youm7. El Laithy, who helps state statistics agency CAPMAS carry out its income and expenditures survey, says the number of […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Moody’s affirms Egypt’s B3 rating, outlook stable
Moody’s affirmed Egypt’s B3 rating with a stable outlook, saying the IMF’s review of the country’s economic reform program is credit positive in a report released on Thursday (paywall). “Reforms are showing positive results, particularly the foreign exchange rate liberalisation in November 2016, which helped reduce balance-of-payment pressures from large current-account deficits and support the […]
Posted inSpeed Round
Housing Ministry to issue immediate 10% downpayment on compensation to contractors
Housing Ministry to issue immediate 10% downpayments on compensation to contractors: Contractors being compensated for losses incurred on government contracts after the EGP float receive 10% downpayments until the committee tasked with repricing their contracts can complete its work, Housing Minister Mostafa Madbouly decided on Thursday, according to Al Mal. President Abdel Fattah El Sisi […]
Posted inSpeed Round
NBK Egypt earnings for 1H2017
EARNINGS WATCH- The National Bank of Kuwait - Egypt reported a 78.4% year-on-year jump in net profit during 1H2017, which came in at EGP 727 mn, according to a regulatory filing to the EGX.
Posted inSpeed Round
Qatar amends terrorism laws in a bid to dispel charges of supporting terrorism
Qatari Emir Tamim bin Hamad al-Thani issued a decree on Thursday amending the country’s anti-terrorism laws in a bid to “dispel charges it supports terrorism,” Reuters reports. The move earned Doha some praise from the UAE, whose minister of state for foreign affairs said it is a “positive step,” but maintained that Qatar’s policies must […]
Posted inSpeed Round
Halal Guys named number one fastest growing restaurant concept
New York food cart chain The Halal Guys has been named the number-one fastest growing restaurant concept by Restaurant Business on its 2017 Future 50 list. The Halal Guys first started in 1990 “by three like-minded men from Egypt who came to America in search of a better life. When the founders noticed many Muslim […]
Posted inEGYPT IN THE NEWS
Death of eight members of Hasm tops coverage of Egypt
Topping coverage of Egypt in the foreign press this morning pickups of wire coverage of a shootout that saw security forces kill eight suspected Hasm militants over the weekend. Security forces said that the group was found in a training camp in a southern desert region. Eight others were arrested in Giza.
Posted inEGYPT IN THE NEWS
Timing of tourist killing in Hurghada could not have been worse –FVW
The stabbing of two German tourists in Hurghada could not have happened at a worse time, as tourism in Egypt is just beginning to recover, German tourism portal FVW says. “The terrorist attack threatens a new blow to the country’s struggling tourism industry and economy.” German tourists are expected to continue flying into the country […]
Posted inEGYPT IN THE NEWS
Ahmed El Alfi profile on Entrepreneur Middle East
Sawari Ventures, Flat6Labs, and Greek Campus founder Ahmed El Alfi’s career isbeing profiled in a glowing report by Entrepreneur Middle East. The piece pays particular attention on his charting of the VC environment during the calamitous period of the Arab Spring. El Alfi explains that two important changes, both presently occurring, will enable the startup […]
Posted inEGYPT IN THE NEWS
El Warraq highlights disconnect between urban development and slum dweller’s rights
The clashes in the El Warraq neighborhood highlights the disconnect between the government’s urban development policy and slum dwellers rights, writes Ruth Michaelson for the Guardian.