Latest in Tag: flotation Highlight
Latest in Tag: flotation
Wadi-Food to exploit flotation, expand into African markets
40% increase in sales of the company during the last year, says Nasrallah
Development cost of Sharm Dreams Holding hotels increase 35% due to flotation
Current bookings prevent tourism recovery in 2017 by 30% on average at company hotels, says Abu El Enein
CBE provides banks $420m to cover companies’ flotation debts
The Central Bank of Egypt (CBE) provided $420m to local banks to cover the debt, which occurred by the different foreign currencies exchange rate due to flotation. This offer is valid for companies with debts of less than $5m and whose sales do not exceed EGP 500m. This came after the CBE’s governor Tarek Amer …
SODIC achieves total revenues of EGP 2.1bn in 2016
The company achieves 40% growth and aims to allocate EGP 600m for purchasing lands in 2017
Costs of packaging reduce flotation gains in food industries
Prices increase by 14-60%, manufacturers suffer from the market’s randomness
Reducing price of products depends on stability of US dollar
After the Ministry of Finance reduced the price of the US dollar used for customs to EGP16, down from EGP18.5 on 16 February, media outlets stated that the prices of a lot of products will decrease soon. The prices of almost all products have hiked during the previous months after the Central Bank of Egypt …
Dollar continues decline, expected to stand at EGP 16 in short term
The price of the pound against the dollar will reach equilibrium in the fourth quarter of 2017: Youssef
Will commodity prices go down as pound strengthens?
Companies pledge to bring prices down; others refuse due to inventory input
Does EGP improvement reflect real economic recovery?
A strong economy with a weak currency is better than a weak economy with a strong currency, says economist
Banks experiencing significant disposal operations of foreign currency; dollar registers lowest level since November 2016
Significant decline in Arab and foreign currencies traded in domestic market due to decline in dollar prices
AC prices surge 3.8% in February due to EGP flotation
1.5 hp air-conditioners settle between EGP 6,500 to EGP 8,800
Sales of pharmaceutical companies increase by EGP 10bn, growing by 31%
Factories’ revenues amounted to EGP 5bn in November, despite calls for raising prices
Egypt continues to suffer from consequences of currency flotation: Focus Economics
Focus Economics forecasts an average inflation of 20.1%, 13.6% for calendar years of 2017 and 2018 respectively
Usage of cards abroad dropped by 55% following flotation: CBE
Egyptians usage of cards abroad dropped by a value of $223m in November and December 2016, following the Central Bank of Egypt (CBE) decision to float the national currency—a drop of 55% compared to the same months in 2015. In a press release on Tuesday, CBE stated that data from banks indicate that payments via …
EZ Food Egypt aims to utilise flotation and double exports
EZ Food Egypt aims to double its exports in 2017 to benefit from the exchange rate value and maintain the company’s capital following the negative effects of the flotation of the Egyptian pound The company’s chairperson, Mahmoud Khairy, said that they target achieving $1m worth of exports to the markets of Italy, Bangladesh, Spain, Malta, …
Agricultural crop companies offer prescription to increase exports after floatation
Solutions include intensifying role of trade representative offices, farmland control, and marketing
Egyptian pound’s value drops by 98% since 1979
According to data collected from the International Monetary Fund (IMF), Bloomberg, and Beltone research, the Egyptian pound lost a lot of its value during the past four decades. Since 1979, the pound has lost approximately 98% of its value. Now, the pound can buy only 2% of what it could back in 1979, and is …
Exports increased after Egyptian pound’s flotation: Minister of Industry and Trade
Minister of Industry and Trade Tarek Kabil said that the flotation of the Egyptian pound has helped promote the country’s exports and limit its imports, according to a statement issued by Beltone Financial on Wednesday. Kabil added during Beltone Financial’s “Africa’s Era, Egypt’s Moment” conference, which is currently being held, that “the 2011 revolution impacted …
Flotation, reduced subsidies increase growth to 6% in 2018: Finance Minister
Egypt’s debt tripled in recent years due to the problems experienced during the last 40 years, says Al-Garhy
Flotation, high lending interest rate, VAT negatively affect real estate investment activity: FEDCOC
Alaa Fekry, member of the Real Estate Investment Division at the Federation of Egyptian Chambers of Commerce (FEDCOC), said that real estate companies face several challenges in the current period which may adversely affect their expansion plans in the current year and increase the prices of real estate units. Fekry, who is also the chairperson …
Government raises GDP estimate to EGP 3.4tn following flotation
Egypt’s economy will grow by 4% during this FY, says Planning Minister
Banque Misr financed import operations worth $2bn, post-flotation collection of US dollars surpassed $1bn
We aim to increase MSMEs financing to EGP 25-30bn by 2019, branches to 780 in two years, says El-Etreby
Banks, pharmaceutical shares expected to attract investors in 2017
The flotation of the Egyptian pound will play an influential role in determining the attractiveness of shares for investors during 2017, especially after the price of the US dollar increased to more than EGP 19, which will affect companies’ activities and their ability to make a profit. Financial and technical analysts expect that the most …
Companies face fluctuations of pound with ‘various scenarios’ strategy in 2017
Two scenarios to deal with the increase and decrease of the US dollar and the effect on cost and pricing
After full flotation of Egyptian pound, US dollar price targets cannot be specified: Aboul Fotouh
US dollar not expected to make large gains against the pound in 2017
We repatriate Air France’s money in return for bearing foreign exchange gap: country manager
‘The company operates its brand new Boeing 787 to Cairo with 6 weekly flights’.
Flotation necessary to tackle economic problems: Al-Sisi
Officers and soldiers eat gravel to save the army the suffering of 1967 without burdening the national economy, says Al-Sisi
Business volume for construction companies affiliated to HCC declines after pound’s flotation
Roland Construction demands 50% price difference from the value of remaining works
22% growth in customs outcome after flotation, expected to collect EGP 29.4bn by end of FY 2016/2017: ETA chairperson
Customs outcome reached EGP 27.2bn by the end of FY 2015/2016
Was the government ready for the flotation’s consequences?
Squeezed by economic and political turmoil following the 25 January Revolution that toppled former president Hosni Mubarak, Egyptians are now facing a new era of hardship and austerity. The government’s adopted economic reform programme, backed by the International Monetary Fund (IMF), included the flotation of the Egyptian pound, subsidy cuts, high interest rates, and the …