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** Earnings watch: Arabian Cement Company reports a consolidated net profit of EGP 245 mn in 2016, down 11.6% from EGP 277.2 mn a year before, according to a regulatory filing. Despite having no effect on consolidated results, the company incurred FX losses of EGP 81.1 mn due to the impact of the EGP float […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt ranks 104th on happiness index
We’ve become a much less happy bunch, according to the 2017 World Happiness Report. Egypt is in the 104th spot on the global Ranking of Happiness, right below Mongolia, South Africa, Tunisia, and Palestine. Egypt is also in the bottom quintile in changes in happiness with a significant drop in the perception of happiness from […]
Posted inSpeed Round
UK to invoke Article 50 on 29 March
Elsewhere in the world: The UK will begin the process of leaving the European Union on Wednesday, 29 March. Prime Minister Theresa May will file the “divorce papers,” invoking Article 50 of the Lisbon Treaty that will launch two year of talks to exit from the EU, according to Bloomberg.
Posted inTHREE QUESTIONS FOR…
Three Questions for EFG Hermes’ Mostafa Gad on M&A flow in 2017
EFG Hermes sees manufacturing plays as the dark horse of Egypt M&A activity in 2017, is growing pipeline with UAE and Kuwait transactions: EFG Hermes is coming off a year that saw it become thetop-ranked MENA-based house on the Reuters’ Middle East M&A league table for 2016. The firm has been best known in the […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 21 March 2017
Hurghada seems to have been the main beneficiary of Sharm El Sheikh being off-sale in the UK, Rob Gill writes for tourism news website TTG. Andrew Grant, managing director of Red Sea Holidays, says: “Holidays for Hurghada, particularly the Makadi Bay area, are showing healthy increases in passenger numbers — the market is reporting an […]
Posted inOn Deadline
Egyptian columnists are starting to see the big picture
Egyptian pundits are starting to get it (well, one at least): While the reasons behind inflation — the gradual phase-out of energy subsidies and the EGP float — are clear, Mohamed Youssef argues in a column for Al Shorouk that domestic manufacturers’ reliance on imported materials has trickled down to consumer prices. He urges the […]
Posted inWorth reading
In spite of its hurdles, Egypt’s market holds very unique opportunities
How Egypt’s unique problems open up the doors for its startups: Despite the hurdles digital startups face in Omm El Donia ranging from poor education to a lack of funding, the market here is wide open for digital services startups, simply because the most mundane of tasks in Egypt “like paying bills and getting things […]
Posted inWorth watching
Egyptian fathers complain about all the attention mothers get one day a year
“It’s so provocative. We wake up at 6 am and come home tired and nobody remembers us.” An exceptionally entitled group of Egyptian dads complained that they don’t get praise the way mothers do (watch, runtime 5:50) on CBC Egypt. One father complained that he had to sacrifice exercising to be a father, while the […]
Posted inDiplomacy + Foreign Trade
El-Sisi, Abbas hold meeting in Cairo
President Abdel Fattah El Sisi met with Palestinian President Mahmoud Abbas in Cairo yesterday for what media reports are calling a reconciliation meeting, according to the Associated Press. El Sisi reportedly promised Abbas to push for a resumption of the stalled peace process when he meets with US President Donald Trump next month. Both leaders […]
Posted inDiplomacy + Foreign Trade
Sudan moving to escalate Halayeb dispute, plans to evict Egyptians from the triangle
Sudan is escalating its dispute with Egypt over Halayeb and Shalatin: The Sudanese government is looking for “diplomatic means” to force Egyptians out of the disputed border area of the Halayeb and Shalatin Triangle, Anadolu Agency reports. The head of Sudan’s Technical Committee for Border Demarcation Abdallah al-Sadiq said that the panel has been meeting […]