MIRA INFORM REPORT

 

 

Report Date :

02.10.2014

 

 

 

 

Tel. No.:

202-22603250/ 966503828270

Fax No.:

202-22602923

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Egypt

B1

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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

 

 

 

 

COMPANY NAME

 

EGYPT FIRST TRADING & INDUSTRIES CO

 

 

ADDRESS

 

Physical Address

 

Building             : 4 El Obour Building

Street               : Salah Salem Street

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 22603250

Facsimile          : (20-2) 22602923

Email                : manager@tiremg.com

 

 

GENERAL COMMENTS

 

Upon investigation local sources were unable to locate a company called “Egypt First Trading & Industries 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 Chambers of Commerce also proved unsuccessful as they had no listing under the name of “Egypt First Trading & Industries Co”. The telephone number listed above was tried on numerous occasions but remained unanswered.

 

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 :

PDT

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.