• Sunday, 24 July 2022

    Last Night’s Talk Shows on diplomacy, diplomacy, diplomacy

    It was a diplomacy-heavy night on the airwaves last night, as the nation’s talking heads discussed the Russian foreign minister’s visit to Cairo, the latest on the GERD crisis, and El Sisi’s overseas visits last week.On the agenda for Lavrov...
  • Thursday, 2 June 2022

    Insurance startup Amanleek wins Orange fintech competition

    The formidable 13-year-old Egyptian-Hungarian violinist Mariam Abouzahra won the Golden Note — a televised classical music competition run by the Austrian Broadcasting Corporation. The young musician reached the finals with eight other performers between the age of 10 and 16,...
  • Sunday, 29 May 2022

    Earnings watch: MM Group, Oriental Weavers, Emaar Misr report 1Q2022 results

    EARNINGS WATCH-MM Group reported a 60.1% y-o-y drop in its 1Q2022 bottom line, recording EGP 51 mn, according to an earnings release (pdf). The company’s consolidated revenues also fell 22.9% y-o-y during the quarter to hit EGP 1.94 bn.Oriental Weavers...
  • Monday, 23 May 2022

    Exporters want more support as gov’t wraps up latest phase of subsidy program

    Gov’t wraps up fourth phase of export subsidy program: Some EGP 261 mn in overdue export subsidies was paid out to more than 130 businesses during the fourth phase of the government’s export subsidy program, which started in November, the...
  • Tuesday, 8 March 2022

    Earnings watch: Emaar Misr

    EARNINGS WATCH-Emaar Misr’s bottom line rose around 118% y-o-y to EGP 4.12 bn in 2021, according to the company’s financials (pdf). Revenues increased 137% y-o-y, reaching EGP 11.08 bn. MARKET ROUNDUP-The EGX30 fell 2.8% at today’s close on turnover of...
  • Monday, 20 December 2021

    Wheat could get pricier as Russia mulls higher export tariffs

    Brace yourself for pricier wheat as Russia mulls raising export tariffs on the grain: Russia, the world’s largest wheat exporter, is considering imposing higher export tariffs if wheat prices reach USD 375 / ton, with a bigger hike proposed if...
  • Wednesday, 4 August 2021

    Emaar Misr net income doubles in 2Q2021

    Emaar Misr’s net income almost doubled in 2Q2021 to EGP 801.1 mn, up from EGP 409 mn in the same period last year, according to the real estate developer’s latest earnings statement (pdf). The hike came as revenues almost tripled...
  • Sunday, 13 June 2021

    Earnings: Emaar Misr, Alex Medical more than double net income in 1Q2021

    EARNINGS WATCH- Emaar Misr’s consolidated net income more than doubled in 1Q2021 to EGP 529.1 mn, up from EGP 247.6 mn in the same quarter last year, according to the real estate developer’s financials (pdf). The jump came as revenues...
  • Tuesday, 30 March 2021

    Emaar loves Egypt + Edita’s big move in Morocco

    Emaar Properties plans to double its Egypt operations to 30% of its overall business, founder Mohamed Alabbar told Asharq Business, describing Emaar Misr as the “star performer” of 2020. This follows the company’s announcement earlier this week of its intention...

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