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Egypt presidential elections to be done by 3 May
This year’s presidential election cycle will wrap by 3 May, more than a week ahead of the start of Ramadan,…
SPEED ROUND
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SPEED ROUND
Religious Endowment Authority to invest EGP 1 bn in stock market
INVESTMENT WATCH- The Religious Endowments Authority has earmarked EGP 1 bn to be invested in the EGX, Ahmed Abdelhafez, the…
Tax Authority’s seizure of GTH’s bank accounts relates to 2005 tax dispute -source
An administrative freeze on Global Telecom Holdings (GTH)’s bank accounts is related to a 2005 tax dispute, a source at…
Oxford Business Group sees Egypt’s economic growth accelerating further in 2018
The Oxford Business Group released their Egypt review for 2017, in which it notes that an “improved performance in Egypt’s…
Investors optimistic about Egypt’s 2018 prospects, but FDI may not surge until second half
Investors are “increasingly optimistic about prospects” for Egypt in 2018 “after years of political turmoil,” according to Reuters. With foreign…
PMI falls in December, but 4Q2017 average is highest in two years
Business conditions in Egypt’s non-oil private sector deteriorated in December, according to December’s PMI reading, which came in 48.3. That…
Ismail Cabinet forms new Supreme Anti-Terrorism and Extremism Committee
The Ismail Cabinet agreed yesterday to form a new Supreme Anti-Terrorism and Extremism Committee, according to an official statement. The…
Earnings watch: GlaxoSmithKline reports 9M2017 results
EARNINGS WATCH- GlaxoSmithKline’s local subsidiary reported 9M2017 consolidated net profits of EGP 235 mn, compared to net profits of EGP…
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