{"id":549511,"date":"2022-09-20T04:00:19","date_gmt":"2022-09-20T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/efgs-outlook-is-extremely-bullish-especially-in-the-gcc\/"},"modified":"2022-09-20T04:00:19","modified_gmt":"2022-09-20T04:00:19","slug":"efgs-outlook-is-extremely-bullish-especially-in-the-gcc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/efgs-outlook-is-extremely-bullish-especially-in-the-gcc\/","title":{"rendered":"EFG\u2019s outlook is \u201cextremely bullish\u201d \u2014 especially in the GCC"},"content":{"rendered":"<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>EFG Hermes Group CEO Karim Awad welcomed more than 655 global investors <\/strong>as well as CEOs, C-suite execs and IR folks from more than 200 companies spanning from Nigeria to Vietnam and beyond, on the second day of the EFG Hermes One on One investor conference in Dubai. <strong>\u201cNothing beats the warmth of face-to-face human interaction,\u201d<\/strong> Karim said. Everyone in the finance industry \u2014 issuer, investor and banker alike \u2014 has suffered through a lifetime\u2019s worth of virtual meetings since covid-19 kicked off in March 2020.<\/p>\n<p><strong>Awad is \u201cextremely bullish\u201d on the countries in which EFG does business<\/strong> \u2014 and singled out the Gulf Cooperation Council countries. Business growth in the GCC is being driven not just by high oil prices, but by \u201cstrong and pragmatic leadership\u201d that is diversifying economies and transforming stock exchanges with globally compelling transactions, he said.<\/p>\n<p><strong>EFG Hermes has changed massively since we all last gathered in Dubai in March 2019<\/strong>, Karim noted, pointing to the group\u2019s acquisition of aiBANK in Egypt, valU growing to the point that it attracted investment from Amazon, and the investment bank\u2019s involvement in IPOs including Dubai Electricity and Water Authority (DEWA), ADNOC Drilling, Borouge, Ali AlGhanim & Sons, and ACWA Power, among others.<\/p>\n<p><strong>KEY TAKEAWAYS from EFG Hermes Research\u2019s \u201cThe Consensus 2023,\u201d<\/strong> the only live research poll we know of in frontier emerging markets. Participants had 10 seconds to vote live on each of 10 questions. The results:<\/p>\n<ul>\n<li><strong>69% of respondents see the US Federal Reserve raising r<\/strong><strong>ates another 1.5 percentage points or more<\/strong> during the current cycle.<\/li>\n<li><strong>46% of respondents believe Brent crude will be at an average of about USD 80 \/ bbl<\/strong> in 2023 \u2014 and 41% see it averaging USD 100.<\/li>\n<\/ul>\n<p><strong>^^ Why this matters: Interest rates and oil are central themes for the region<\/strong>, EFG Hermes Research said in a note to clients yesterday after the poll.<\/p>\n<ul>\n<li><strong>The markets likely to give the best return in 2023 (in USD terms):<\/strong> KSA (39%), followed by Egypt (21%) and the UAE (17%).<\/li>\n<li><strong>Investors were evenly split on what asset class they\u2019d choose to buy and hold for three years:<\/strong> 29% tap emerging markets equity ETFs, while the same number would hold an S&P 500 equity ETF. In third place: Gold, at 19%, with US 10-year bonds (13%) and a basket of cryptocurrencies (11%) bringing up the rear.<\/li>\n<li><strong>The best performing US stock in 2023?<\/strong> That would be Amazon, which was tipped by 27% of respondents, narrowly edging out JP Morgan (24%), Tesla, Exxon, and Walmart.<\/li>\n<li><strong>The biggest source of risk for your business over the next year:<\/strong> A dead heat between finding good people (23%) and rising interest rates (24%).<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/ent.news\/2022\/9\/One-on-One-poll-Sep-2022.pdf\">Tap or click here to see the full poll results (pdf)<\/a><\/strong><\/p>\n<p><strong>ALSO YESTERDAY- <\/strong><strong>DFM boss Helal Saeed Almarri did an on-stage interview <\/strong>with EFG Hermes Research Head of Strategy Simon Kitchen. Almarri wears many hats, including that of director general of Dubai\u2019s Department of Economy and Tourism. <strong>He\u2019s smart, well-spoken and absolutely worth hearing from on the importance to the private sector of clear, transparent and dependable regulatory frameworks<\/strong>, among other issues.<\/p>\n<p><strong>The One on One continues through Thursday. <\/strong>We\u2019ll be bringing you daily coverage in EnterpriseAM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes Group CEO Karim Awad welcomed more than 655 global investors as well as CEOs, C-suite execs and IR folks from more than 200 companies spanning from Nigeria to Vietnam and beyond, on the second day of the EFG Hermes One on One investor conference in Dubai. \u201cNothing beats the warmth of face-to-face human [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549512,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9136],"tags":[163,84,1918,72,125,2460],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enterprise-on-the-road","tag-dubai","tag-efg-hermes","tag-enterprise-on-the-road","tag-enterpriseam","tag-investment-watch","tag-karim-awad","wpautop","entry"],"acf":{"mongo_id":"25f0a738-f379-4828-a4fa-88583f47bd03","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/280.jpg","photo_position":"above","related_issue":[549507],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The financial world can seem abstract and impenetrable to the uninitiated. But in the latest\u2026","rel":"","context":"In &quot;Worth Listening&quot;","block_context":{"text":"Worth Listening","link":"https:\/\/enterpriseam.com\/egypt\/category\/worth-listening\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565993,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/to-universal-bankhood-and-beyond\/","url_meta":{"origin":549511,"position":1},"title":"To universal bankhood, and beyond","author":"enterpriseam admin","date":"20 May 2021","format":false,"excerpt":"EFG and the SFE have inked agreements to buy a supermajority stake in AIB in a transaction worth some EGP 3.8 bn. The Sovereign Fund of Egypt (SFE) and EFG Hermes will acquire 76% of the Arab Investment Bank (AIB), the two parties announced in a joint press release (pdf)\u2026","rel":"","context":"In &quot;SPEED ROUND: M&amp;A WATCH&quot;","block_context":{"text":"SPEED ROUND: M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/408.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591530,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/our-latest-making-it-guest-efg-hermes-on-growing-into-a-true-multinational\/","url_meta":{"origin":549511,"position":2},"title":"Our latest Making It guest: EFG Hermes on growing into a true multinational","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"EFG Hermes Group CEO Karim Awad \u2014 whose firm cracked the top 20 in Bloomberg\u2019s Europe, Middle East, and Africa IPO league table \u2014 is our guest on the latest episode of Making It. EFG has transformed under group Awad from a home-grown champion into a true multinational \u2014 without\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570132,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/19\/efg-hermes-net-profit-up-36-in-2019\/","url_meta":{"origin":549511,"position":3},"title":"EFG Hermes net profit up 36% in 2019","author":"enterpriseam admin","date":"19 March 2020","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes\u2019 net profit surged 36% in 2019 to EGP 1.38 bn from EGP 1 bn a year earlier, according to the company\u2019s earnings release (pdf). Revenues in 2019 reached EGP 4.8 bn, up from EGP 4 bn in 2018. On a quarterly basis, profits grew by 16%\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562453,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/efg-hermes-awad-on-the-aib-acquisition-taking-his-franchise-outside-egypt-and-what-will-bring-foreign-investors-back-to-the-market-part-1-of-2\/","url_meta":{"origin":549511,"position":4},"title":"EFG Hermes\u2019 Awad on the AIB acquisition, taking his franchise outside Egypt, and what will bring foreign investors back to the market \u2014 part 1 of 2","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"Few transactions have been as closely followed in Egypt\u2019s banking and finance industries as has EFG Hermes\u2019 acquisition of a controlling stake in the commercial bank AIB in a partnership with the Sovereign Fund of Egypt (SFE). Was the SFE serious about public-private partnership? Did EFG Hermes\u2019 management have a\u2026","rel":"","context":"In &quot;Spotlight&quot;","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/214.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597270,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/efg-hermes-to-set-up-real-estate-private-equity-fund-in-2020\/","url_meta":{"origin":549511,"position":5},"title":"EFG Hermes to set up real estate private equity fund in 2020","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"EFG Hermes is planning to set up a real estate private equity fund next year with a number of unnamed real estate developers, EFG Hermes Group CEO Karim Awad said, according to the local press. The fund is part of the firm\u2019s expansion plans over the coming few years, which\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549511"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549511\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549512"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549511"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549511"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}