Back to the complete issue
Thursday, 27 October 2022

Egypt in the News: Our FX bonds are on the up + the FT has a love letter for Egyptian tourism

FROM THE DEPT. OF GOOD NEWS: Egypt’s USD-denominated bonds have gained 5% this week, giving them a spot among the top three emerging market performers, Bloomberg reports. Investors are starting to dip their toes back into the country’s debt market amid anticipation that an agreement with the IMF for a new bailout package is nearing.

The Financial Times has a love letter to Egypt’s tourism industry. Headlined “Eternal Egypt — a journey out of time,” it says that the nation’s “ancient wonders still hold us spellbound, but its pulsing, intense present is just as intoxicating.” We’re also getting some tourism ink from Lonely Planet.

Also making headlines:

  • Domty boss Mohamed El Damaty tells Zawya that 2023 planning is a challenge amid economic turmoil.
  • MIT Technology Review and Germany’s DW both have stories on human rights.

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; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.