THE COMPANY: Oriental Weavers (OW) is one of the largest producers of machine-made woven and printed/tufted rugs in the world. In 2013 it produced 116m sq metres of carpets across 10 manufacturing facilities in Egypt, China and the US. With a combined 240 showrooms and wholesale outlets across Egypt, it enjoys a dominant position...
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Articles & Analysis | Consumer goods from The Report: Egypt 2014
Articles & Analysis | Real estate from The Report: Egypt 2014
THE COMPANY: Sixth of October Development and Investment Company (SODIC) follows an integrated, low-risk, self-financed business model, focused mainly on the upper-middle-income class. Despite a smaller land bank than its competitors (Talaat Moustafa Group and Palm Hills Developments), SODIC manages to position itself among the biggest...
Interviews & Viewpoints | Hussein Choucri, Chairman and Managing Director, HC Securities & Investment, on fiscal reform and growth in Egypt from The Report: Egypt 2014
On July 10, 2014, President Abdel Fattah El Sisi signed the decree that approved Egypt's budget for the fiscal year 2014/15, reflecting his intention to reduce the national deficit from 14% to 10% of GDP. The president’s decision is a step in the right direction towards regaining stability. The government has set a total spending budget of LE790bn ($112.2bn), compared to...
Articles & Analysis | Telecommunications from The Report: Egypt 2014
THE COMPANY: Telecom Egypt (TE) is Egypt’s sole fixed-line operator and wholesale telecommunications services provider, with indirect access to the mobile market via its 45% stake in Vodafone Egypt (VFE), the country’s largest mobile operator with a 41.7% market share. TE-Data, its fully owned internet service provider (ISP), has 63.4...
Articles & Analysis | A new index for SMEs should generate more interest and help to unlock potential from The Report: Egypt 2014
The performance of the Nile Stock Exchange (NILEX) over 2013 and into 2014 suggests that it has broken through the inertia that plagues many new secondary boards in stock exchanges. Established in 2010 as a sub-market for mid- and small-cap firms wishing to access liquidity through the exchange, the NILEX had to contend in its first year of business with low trading...
Articles & Analysis | New reforms are set to put the market on track for sustainable and long-term growth from The Report: Egypt 2014
Given the fallout from the revolution of 2011, the management of the Egyptian Exchange (EGX) focused heavily on short-term challenges and adjusting market operations in order to safeguard the exchange. T+0 settlement was suspended, which brought intraday trading to an end, the pre-trading mechanism used to quote stocks’ guide prices was halted and price fluctuation caps...