Egypt's economic growth will remain strong in the medium-term thanks to strong investment and a recovering consumer environment, according to Fitch Solutions.
Fitch analysts expect growth to remain strong in the next five years. The economy will (...)
Food prices unexpectedly declined by 4.3% in March 2020 compared to the previous month, the Institute of National Planning has announced.
Food Price Index figures released by the UN's Food and Agriculture Organization (FAO) showed a global decline (...)
Egypt's inflation in March fell to 4.6% y-o-y, down from 4.9% y-o-y in February, continuing a decline for the fourth consecutive month. The deceleration was supported by a price decline in transportation, alongside a mild price growth in food and (...)
The Ministry of Petroleum announced, on 10 April, an "average 4.5% decrease in domestic gasoline and mazut prices" for industries. The downgrade came following a third review under the automatic fuel indexation mechanism, with the food and (...)
The Monetary Policy Committee (MPC) decided in an extraordinary meeting, held 16 March, to cut the overnight deposit, lending, and the main operation rates by 300 basis points (bp) to 9.25%, 10.25%, and 9.75%, respectively. The discount rate was (...)
Egypt's economic growth will remain strong in the medium term due to relative political stability, strong investment, and recovering consumer environment, Fitch Solutions said in its latest report. That said, more needs to be done in terms of (...)
The Central Bank of Egypt (CBE) left overnight deposit rate unchanged at 12.25% on 16 January, surprising market and analysts expectations of easing. Standard Chartered expected a 50bps cut but highlighted the risk of a hold decision. The CBE (...)
Prime Minister Moustafa Madbouly reviewed on Tuesday a number of important issues concerning the economy, society, and latest developments during a Cabinet weekly meeting. At the meeting, Minister of Finance Mohamed Maait presented a report on the (...)
BlackRock Investment Institute said in its 2020 global outlook that the 2020 macro environment marks a big shift from the dynamics of 2019, when an unusual and late-cycle dovish turn by central banks helped offset the negative effect of rising trade (...)
The Food and Agriculture Organization's (FAO) Food Price Index (FFPI) scored its highest level in five years, averaging 181.7 points in December 2019, growing by 4.4 points from November, marking the third month of increase in a row.
Strong rallies (...)
Beltone Financial Investment Bank said in its 2020 yearbook that, despite the weak growth in banks' financial position during 8M19, they remain positive on financial position expansion on the back of their expected growth in M2 money supply, though (...)
Beltone Financial said in its yearbook that they continue to favour Egypt's healthcare sector heading into 2020 due to its inherent top-down fundamentals, under-tapped potential, shortage of bed capacity, and its pent up demand for high quality (...)
Beltone financial investment bank said in its 2020 yearbook that the challenging environment affecting the Egyptian telecom sector which started in 2017 will continue in 2020 on the absence of any developments on proposed amendments from operators (...)
Beltone Financial said the foreign direct investments (FDIs) in Egypt increased to $2.4bn in the first quarter (1Q) of FY 2019/20 from $1.4bn in the same period of FY19, the highest since 2017, driven by $0.84bn increase in net inflows for (...)
Beltone financial investment bank said in its latest Mena Macro Strategy, that the key sector for Egyptian industrial players has been Egypt's giant natural gas discoveries in the Zohr Gas field, which triggered a turnaround in the industrial (...)
Beltone Financial Investment bank expects the real estate sector to decelerate in 2020 as real estate sales have lost pace or are coming flat, driven by continued oversupply risks in upper middle and high-end project offerings, and slower price (...)
Invesco Investment Solutions believes that over the last ten years since the end of the Global Financial Crisis, the equity markets have experienced a prolonged upswing with relatively subdued volatility, something that is unlikely to be repeated in (...)
The economy is about to enter its first year in four without any form of macro tightening, opening room for a more favorable environment for economic growth, EFG Hermes said in its latest yearbook. They, therefore, see room for the private sector (...)
Beltone Financial Investment said in its MENA Macro & Strategy 2020 that among their coverages in Egypt, Saudi Arabia, Kuwait, and the UAE, Egypt is the economy with the most catalysts for growth in private consumption heading into 2020.
Based on (...)
Egyptian markets such as Cairo, Hurghada, Sharm El Sheikh, and Alexandria continue to experience strong performance in the Mena Hotel Forecast's publication.
These markets showed an average revenue per available room (RevPAR) growth of 14% during (...)
Pharos Holding's view on the Egyptian economy is positive in its annual book, as they expect real GDP to slowly pick up from 5.7% in FY18/19 to 5.9% in FY19/20 driven by the transportation, communication, tourism, and manufacturing sectors. Pharos' (...)
Moody's Investors Service downgraded its outlook for African banks from stable to negative in a its latest report, reflecting their weakening operating environment, rising assets quality pressures, and political and social uncertainties.
Weakening (...)
The Organization of Petroleum Exporting Countries (OPEC) and its allies agreed to deepen crude oil production cuts by additional 500,000 barrels per day (bpd) to 1.7m bpd, effective January 2020, from current 1.2m bpd.
Under the revised deal, Saudi (...)
Beltone Financial holding updated their valuation on Oriental Weavers group (ORWE) and revised the fair value to EGP 11.75 /share from EGP 14.6 /share with an equal weight recommendation on an upside of 10%.
Beltone analysts lowered OWRE's fair (...)
Egypt's financial account recorded $8.5bn in the fiscal year (FY) 2018/19, down from $22.1bn in FY 2017/18, dropping 61%, according to the Central Bank of Egypt (CBE).
This huge decline was mainly driven by deterioration of several types of (...)