Egypt’s Citadel Capital eyes $528m share sale
Citadel Capital has taken another step away from its private equity roots on Monday after it obtained regulatory permission to go ahead with a $528m share issue. The group, which has $9.5bn under...
View ArticleGuest post: Egypt’s problems will not be solved by aid alone
By Elizabeth Stephens of JLT Specialty Investor confidence and the prospects for international businesses operating in Egypt have reached an all time low as the potential for disintegration has become...
View ArticleEgypt’s tourist numbers just fell off a cliff
Egypt’s problems are not exactly unknown. The question for potential tourists is whether things are so bad they should stay away. It seems many think they should. Arrivals in August plummeted 46 per...
View ArticleUS-Egypt: aid cut is symbolic, tourism is material
As the FT reports, the US has suspended part of its aid to Egypt in an effort to put pressure on the military to move towards democracy. It comes after months of uncertainty from the US over how to...
View ArticleEgypt: EGX30 party time
The news out of Egypt may seem unremittingly bad of late but here’s something to cheer equity investors: the benchmark Cairo index, the EGX30, is back above 6,000 points this week, a level not seen...
View Article[video] Who will grow next?
Research by Harvard’s Ricardo Hausmann has found that Mexico, Zimbabwe and Egypt are well-positioned to grow. Qatar and Brazil are less well-placed, while China risks recession. In part two of a...
View ArticleGuest post: Egypt’s economy, propped up but struggling
By Anthony Skinner of Maplecroft The Egyptian economy is being propped up by loans, grants, direct deposits and fuel shipments worth billions of dollars from Saudi Arabia, Kuwait and the United Arab...
View ArticleGuest post: how to end Egypt’s subsidies addiction
By Dalibor Rohac of the Cato Institute Following the military takeover and the bloody crackdown on the followers of the Muslim Brotherhood, Egypt has been living through intermittent violence and...
View ArticleEgypt: S&P upgrade, with help from friends
A bit of good news for Egypt: rating agency Standard and Poor’s upgraded the country’s credit rating on Friday on foreign long-term borrowings to ‘B-’ from ‘CCC+’. In other words, Egypt is considered...
View ArticleEgypt after Morsi – all you need to know
A graphic look at Egypt's economy | Click to enlarge With the military reoccupying centre stage in Egypt, what does this mean for democracy and the economy? Since the July ouster of President Mohamed...
View ArticleGuest post: is Egypt committing economic suicide?
By Dalibor Rohac of the Cato Institute How does one save an economy on the brink of bankruptcy? In Egypt, the answer seems to be a stimulus plan. Egypt’s finance minister, Ahmed Galal, announced that...
View Article[wrap] Egypt votes on new consititution
Egyptians queue up to cast their vote on a new constitution in Al-Haram in the southern Cairo Giza district on January 14, 2014. Egypt goes to the polls – again. This time on a new constitution, which...
View ArticleEgypt stock market hits pre-Arab Spring high
The Arab Spring is officially over, at least as far as Egyptian equities are concerned. In a milestone of sorts, Egypt’s benchmark EGX30 stock index on Tuesday hit a new three-year high, surpassing for...
View ArticleGuest post: Egypt’s economic reformers bet on new sales tax
By Richard Asquith of TMF Group It has been a difficult three years for Egypt, both politically and economically. The euphoria following the toppling of President Mubarak has given way to violent...
View ArticleCemex: back to square one in Egypt?
Cemex, the Mexican cement giant, is breathing a little sigh of relief. It had been biting its nails ahead of a ruling from an Egyptian appeals court on whether its 1999 purchase, in a privatisation, of...
View ArticleEgypt: back to 2008 levels
Source: Bloomberg Who says military rule is bad for stock markets? The EGX30, Egypt’s main stock index, is now over 7,700 – a level not seen since mid-2008. The index has surpassed the previous...
View ArticleArab youth turn from “Arab spring” to starting businesses
Young Arabs are increasingly turning their backs on cushy public sector jobs in favour of working for private companies and starting their own businesses, a survey in 16 countries has found. There has...
View ArticleEgypt pledges reform, seeks investor support
With Egypt’s presidential election approaching fast, representatives from the Egyptian government and financial community travelled to London this week to seek support from international investors for...
View ArticleGuest post: Egypt’s election over, what now for the economy?
By Dalibor Rohac, Cato Institute Abdel Fattah el-Sisi’s landslide victory in the presidential race, with over 93 per cent of the popular vote, is a result not only of his undeniable popularity among...
View ArticleEgypt: World Bank sees widening of ‘shadow’ economy
It is not hard to find evidence of Egypt’s extensive informal economy. It is present everywhere from the rickety microbuses that are poor Egyptians’ main means of transport, to the myriad small...
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