{"id":628640,"date":"2018-05-09T04:19:01","date_gmt":"2018-05-09T04:19:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/bank-audi-sees-growth-potential-in-egypt\/"},"modified":"2018-05-09T04:19:01","modified_gmt":"2018-05-09T04:19:01","slug":"bank-audi-sees-growth-potential-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/bank-audi-sees-growth-potential-in-egypt\/","title":{"rendered":"Bank Audi sees growth potential in Egypt"},"content":{"rendered":"

Just like rival Blom, Lebanon\u2019s Bank Audi sees a lot of potential for growth from its Egyptian business<\/strong>, particularly on the private banking side, which requires fairly low capital and generates around 12-15% of the bank\u2019s bottom line in the country, Chairman Samir Hanna tells Bloomberg in an interview (watch, runtime: 6:12<\/a>).<\/p>\n

The government does not seem to have a realistic plan for attracting citizens to the new administrative capital<\/strong>, says the Guardian\u2019s Ruth Michaelson<\/a>. Although the new megacity is meant to leave behind the \u201cugliness\u201d of crowded Cairo, real estate prices are likely to make it difficult for low-income government employees to relocate. Employees who opt to commute to the new capital \u2014 which will house government buildings, and potentially foreign embassies \u2014 might also find the cost of taking the monorail too high, Michaelson says, suggesting that the new capital might meet the same fate as \u201chalf-empty\u201d satellite cities, \u201ceach a failed monument to their developers\u2019 inability to draw the bulk of the population away from downtown Cairo.\u201d<\/p>\n

Also worth a skim this morning:<\/p>\n