What we’re tracking on 13 December 2014
** TAKE OUR NEW QUARTERLY SURVEY, wherein we ask you, dear readers, to drill down into what USD : EGP rate you’re using in your 2017 budgets, your outlook on the economy, whether you would like to hold more assets outside of Egypt — and what gets you out of bed in the morning. The survey runs from today through Tuesday, 20 December at 5pm. We’ll have the results in our 29 December Year-in-Review edition. Tap here to take the survey — it won’t take more than a minute unless you’d like to leave us a long note.
Thank you for your patience yesterday, and thank you for continuing to read us every morning.We’re about 99.9% certain we’ve resolved the tech problem that saw yesterday’s first edition dispatched with neither formatting nor links. The problem appears to have been related to a silent upgrade in one of the tools we use to produce Enterprise (our suspicion is Google Docs).
Al Borsa / Business News are hosting their Third Annual Egypt Automotive Summitat the Semiramis InterContinental Cairo today. Topping the discussions at the conference is the automotive directive and its impact on the industry, said Moustafa Saqr, chairman of Business News. Count on top industry figures to be present, including Raouf Ghabbour (GB Auto), Farid El Tobgy (Bavarian Auto Group), Isao Sekiguchi (Nissan Egypt), and Tarek Atta (General Motors). The roster also includes representatives from Volkswagen and Peugeot Citroën, among others.
There has been no word whether the African Development Bank (AfDB) has voted to approve the second USD 500 mn tranche of its USD 1.5 bn development loan to Egypt. The vote was scheduled to take place yesterday. The AfDB did announce, however, that a global coalition of donors pledged USD 7.1 bn over three years to its African Development Fund to scale-up support for the private sector in 38 lower income African countries. The World Bank is expected to vote on its USD 1 bn second tranche of the USD 3 bn facility signed with Egypt on 22 December.