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Orange Egypt reported a consolidated net loss of EGP 2.55 bn in 2016 from a profit of EGP 10 mn in 2015, according to a regulatory disclosure. FX revaluation charges cost the mobile network operator EGP 2.3 bn in 2016. Orange Egypt says its loss owes primarily to rising prices and operational costs, the impact […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Naguib Sawiris dismissed from Free Egyptians Party
The spat between Naguib Sawiris and the Free Egyptians Party has come to a head: The FEP (of which Sawiris is a founder) dismissed Naguib from the party after he did not show up to a hearing with the party’s disciplinary committee, Al Shorouk reports. Sawiris had been summoned for questioning about his “slanderous” remarks, […]
Posted inSpeed Round
JPMorgan, Morgan Chase rumored to be lead underwriters for Aramco IPO
Aramco has selected JPMorgan Chase, Co and Morgan Stanley, and HSBC as the lead underwriters for its planned IPO, sources told The Wall Street Journal (paywall). Other unnamed sources told Reuters that only JPMorgan and Morgan Stanley were tapped to assist with the IPO, but that Aramco “could call on another bank with access to […]
Posted inSpeed Round
Absence of a regional gas agreement could be why Noble is delaying developing Leviathan
Is Noble Energy getting cold feet in its development of Israel’s Leviathan gas field? In a piece for Globes, Amiram Barkat asks why has there been no official and binding decision to develop the Leviathan gas reservoir. He says the key behind the delay is that the development of Leviathan depends on “a single strategic […]
Posted inTHE MACRO PICTURE
Equity valuations may be high, but there are still opportunities for value investors
Goldman Sachs Asset Management says equities internationally might be getting too expensive, “but there are still select opportunities for value investors.” In a recent email, the firm presents a chart depicting the degree of dispersion between the price of the top 25% and bottom 75% stocks in each of five different markets. “Despite broadly high […]
Posted inImage of the Day
Egyptian child uses plastic bottles as prosthetic limbs
An 11-year-old Egyptian boy born without limbs due to a rare disease uses old plastic soda bottles as prosthetic limbs to be able to carry out daily activities such as eating, drinking, and writing, Al Arabiya reports. Ziad Mohammed’s father fashioned the makeshift limbs for his son by using bottles that “have been cut in […]
Posted inEGYPT IN THE NEWS
Blind sheikh returns to Egypt
Leading international news coverage on Egypt this morning is the return of the body of convicted terrorist Omar Abdel-Rahman “the blind sheikh” to Egypt, with Reuters reporting that thousands turned up to the terrorist’s funeral. Abdel-Rahman was the spiritual leader of the Jama’a Islamiyya and sentenced to life in prison in the United States for […]
Posted inEGYPT IN THE NEWS
Abdel Rahman’s tactics caused a shift in counter-surveillance efforts -Stratfor
Few, if any, modern terrorists share Abdel Rahman's pedigree, Fred Burton, Stratfor's chief security officer, writes. “One of the more interesting and lesser-known aspects of the Blind Sheikh's plots forever changed the methods we used to protect our charges. In the aftermath of the first World Trade Center bombing, we uncovered sophisticated surveillance efforts that […]
Posted inEGYPT IN THE NEWS
Ikhwan spokesman defends the group in the pages of The New York Times
One of our least-favorite Islamists is back in the international spotlight: Writing from prison,Gehad El-Haddad, the Ikhwan’s one-time English-language spokesman takes, to the pages of The New York Times to “recognize the [Ikhwan’s] political mishaps” and argue that they are by no means enough to justify “detention and fallacious designations.” Haddad says the group had […]
Posted inEGYPT IN THE NEWS
Trump’s America could be Egypt’s golden ticket back to its days as regional superpower
The Obama administration might have given President Abdel Fattah El Sisi the cold shoulder, but Donald Trump’s America could be Egypt’s golden ticket back to its days of former glory as the region’s main superpower, Seth J. Frantzman writes for the National Review. Frantzman misses the mark, arguing that Egypt’s renewed closeness with the US […]