Back to the complete issue
Thursday, 24 November 2016

Black Friday, the honeymoon is over in KSA, we all want to love The Donald

Other international stories worth checking out this morning, should you have the time:

  • “Honeymoon is over for new Saudi leader as reform pain kicks in; the kingdom is on the brink of its first non-oil sector recession in three decades.” (Financial Times)
  • Op-ed by Roula Khalaf: “A Middle Eastern battle for Donald Trump’s heart and mind; Sunni states are hoping the president-elect rekindles their love affair with America.” (Financial Times)
  • “Black Friday,” the start of the traditional post-Thanksgiving Christmas shopping season in the United States, is front-and-center in the thoughts of the business press this morning, with everyone from the Wall Street Journal to the FT and Fortune noting that while sales on Black Friday are expected to rise about 2.6% over last year, it’s all being driven by margin-sapping sales. We’ll spare you our standard lecture about the follow-the-herd mentality that has led retailers in Egypt, Canada and other nations to blindly ape the US in adopting Black Friday, a retail invention timed to coincide with American Thanksgiving. (WSJ | FT | Fortune)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.