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15-17 January (Sunday-Tuesday): International Conference on Improving Sustainability Concept in Developing Countries, Cairo. 15-20 January (Sunday-Friday): Bidding window for Petroleum Ministry’s gold exploration tender in eastern desert and Sinai, Egypt. 17-20 January (Tuesday-Friday): World Economic Forum, Davos, Switzerland 17-18 January (Tuesday-Wednesday): Underground Infrastructure & Deep Foundations Egypt, Nile Ritz-Carlton, Cairo. 22-31 January (Sunday-Tuesday): 28th African […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 16 January 2017
President Abdel Fattah El Sisi spoke on the economy yesterday in a sit-down with state-owned media. It’s definitely the Finance Ministry’s week in the sun between Amr El Garhy’s presser yesterday (and his interview with Lamees El Hadidy last night), the kickoff of the eurobond roadshow tomorrow and a visit from the IMF. We have […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
There are what appear to be conflicting reports on the status of the Investment Law by Al Mal. The paper quotes General Authority for Free Zones and Investments CEO Mohamed Khodeir as saying the law would be presented to the House next week following its review by the Egyptian Council of State. It is also […]
Posted inA CONTRARIAN VIEW
Egypt’s golden opportunity: Mining for the 21st Century
Egypt could be one of the top mining destinations in the world, but it needs to reform its mining policies. Dump the oil and gas production sharing model — it does not suit the mining investment model, says Mark Campbell, president and CEO of Aton Resources. Instead, Campbell believes, Egypt should resort to the “transparent […]
Posted inEnterprise+: Last Night’s Talk Shows
El Garhy makes the rounds following presser on Egypt’s fiscal position; Adib reads price controls are coming from El Sisi’s interview
On ONTV’s Kol Youm, Amr Adib is interpreting President Abdel Fattah El Sisi’s interview with state-owned papers as foreshadowing price controls. “It feels like a plan is in the works to impose a cap on profit margins” he said (watch, runtime 10:51). The president said that the EGP should begin strengthening in six months’ time, […]
Posted inSpeed Round
President El Sisi’s interview on the economy
President Abdel Fattah El Sisi spoke about the economy yesterday in his first extended interview of the year with state-owned newspapers. While addressing the investing communities at times in the interview, the president’s intended audience was the average “working man and woman,” whom he thanked for accepting the economic reforms and for whom he expressed […]
Posted inSpeed Round
Egypt could double size of targeted eurobond issuance
It is definitely the Finance Ministry’s week in the spotlight. We learned yesterday that Egypt expects foreigners to buy as much as USD 10-11 bn of local debt, but, as expected, the eurobond issuance will all begin with a roadshow this week in which Egypt will be looking to raise USD 2-2.5 bn, as reported by Bloomberg. […]
Posted inSpeed Round
Budget deficit records 5.1% of GDP in 1H2016-17
Egypt’s budget deficit shrank to 5.1% of GDP in the first half of FY2016-17, registering EGP 174 bn,down from 6.1% of GDP a year earlier, Finance Ministry Amr El Garhy announced at a press conference yesterday, according to a report by Al Masry Al Youm. Revenues grew to 14.5% of GDP, coming in at EGP […]
Posted inSpeed Round
EgyptAir flight avoids mid-air collision in Belgian airspace
Disaster averted: An EgyptAir Airbus A300-600 cargo freighter narrowly avoided a mid-air collision with an Air France Airbus A320-200 over Belgium on New Year’s Day. According to The Aviation Herald, the EgyptAir flight MSX-541 was instructed three times to climb and maintain a certain altitude but told to stop as the Air France flight approached. […]