|
Report Date : |
14.06.2014 |
|
|
|
|
Tel. No.: |
20242100357 |
|
Fax No.: |
20242105072 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No Trace |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Egypt |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EGYPT - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate growth. Poor living conditions combined with limited job opportunities for the average Egyptian contribute to public discontent. After unrest erupted in January 2011, the Egyptian Government backtracked on economic reforms, drastically increasing social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction were among the hardest hit sectors of the Egyptian economy, pushing up unemployment levels, and economic growth remains slow amid political uncertainty, government transitions, unrest, and cycles of violence. Cairo since 2011 has drawn down foreign exchange reserves and depended on foreign assistance, particularly from Gulf countries, to finance imports and energy products and prevent further devaluation of the Egyptian pound, fearing higher inflation from a weaker currency
Source
: CIA
EL TAAWEN TEXTILES
CO
PO Box : 564
Town : 10th
of Ramadan City
Country : Egypt
Telephone : (20-2) 42100357
Facsimile : (20-2)
42105072
Email : eltaawentextiles@gmail.com
Upon investigation local sources were unable to locate a company called
“El Taawen Textiles Co” in Egypt. They also consulted local business
directories and journals, as well as the local telephone operator however there
was no mention of the subject of your enquiry.
Enquiries made with the local Chamber of Commerce also proved
unsuccessful as they had no listing under the name of “El Taawen Textiles Co”.
The telephone number listed above was tried on numerous occasions but remained
out of service.
Should you be able to provide us with any further information on the
subject of your enquiry we shall re-investigate and endeavour to send you a
full report as soon as possible.
Important Note:
Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.