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The float of the EGP has negatively impacted most sectors of the real estate market in the short term, JLL said in its year-end report on Egypt (pdf). Developers chose in November to pass the rising cost of building materials on to homebuyers, with further price hikes of 25-30% expected in early 2017. Some developers […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Why are some companies continuing to rely heavily on the parallel market
Why are some companies continuing to rely heavily on the parallel? CEOs polled by Al Mal admitted that they still source anywhere between 15-100% of their FX through the parallel market. The most commonly cited reason is the inability of the banking sector to meet the requirements of importers in a timely manner. Mohamed Shokry, […]
Posted inSpeed Round
CBE issues criteria for banks using international loans to strengthen capital base
The Central Bank has issued criteria to guide banks wanting to allocate loans from international funding institutions to strengthen their tier-2 capital base. In a circular issued yesterday, Monday, the CBE said the loans must be unconditional and not lent against any specific asset if they’re to factor into the institution’s capital adequacy ratio. Banks […]
Posted inSpeed Round
Eight policemen gunned down in attack on checkpoint in New Valley
Eight policemen were killed and three others were injured in an attack on a checkpoint in the New Valley province of Egypt’s Western Desert, AMAY reported. Two terrorists were killed during the gun battle, Reuters added. Meanwhile, an Egyptian offshoot of Daesh has reportedly claimed responsibility for a suicide bomb outside a police station in […]
Posted inSpeed Round
Foreigners to buy USD 10-11 bn of Egypt’s local debt -El Garhy
CORRECTION- Finance Minister Amr El Garhy said he expects foreigners to buy USD 10-11 bn of Egypt’s local debt. We mentioned incorrectly yesterday that Egypt was expecting foreigners to double their purchases of eurobonds. We regret the error. The piece was amended and updated on our website.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
International press picks up Tiran and Sanafir final court ruling
The international press was abuzz this morning with the Higher Administrative Court’s final verdict rejecting the transfer of Red Sea Islands Tiran and Sanafir to Saudi Arabia. The Guardian writes that the ruling was cause for celebration among the masses but notes how it reflects that the “centers of power within the Egyptian state do […]
Posted inEGYPT IN THE NEWS
WSJ profiles Amanda Sobhy
What is it about Egyptians and squash? One of the best squash players in the United States is a half-Egyptian graduate of Harvard, the Wall Street Journal (paywall) tells us in its lovely profile of Amanda Sobhy, the sixth-ranked women’s squash player worldwide.
Posted inEGYPT IN THE NEWS
The “dangers” of being a reporter in Egypt
The notion that “The Most Dangerous Job in Journalism Is Just Being a Reporter in Egypt” is an insult to men and women who work — and too-often lose their lives — in active war zones every day. That hasn’t stopped US tabloid Foreign Policy from making that claim atop a nearly 4,600-word piece that […]
Posted inEGYPT IN THE NEWS
Draft to allow US Secretary of State supervision over Christian construction sites angers Egypt
Copts have rejected a proposed US bill that aims to require the United States to monitor the reconstruction of Christian sites in Egypt, writes Jenna Le Bras for La Croix International. The draft bill aims to monitor the rebuilding of churches damaged in terrorist attacks and to oversee the delivery of construction permits required under […]