THE ECONOMIC SYSTEM IN EGYPT
PRIVATE SECTOR: Ready for action
As Egypt is known for it’s mixed economic system ,Compared with other emerging markets, Egypt's private sector is tiny. The public sector still accounts for almost 70 per cent of GDP despite the fact that hundreds of public enterprises have been wholly or partly privatised during the past four years.
Judging, however, by the rapid growth of some of the country's largest family-owned businesses, this is unlikely to hold true five years from now. Raouf Ghabbour, chairman of Ghabbour Group, a family business and the country's largest assembler and distributor of motor vehicles, says there are hundreds of medium-sized companies which are growing fast enough to qualify for joint-stock status within three or four years.
Ghabbour Group is one of only a dozen or so unlisted private sector companies with a turnover of more than E£1bn. This is considered a minimum threshold for a company to launch a successful public listing. "Our turnover has been growing at about 25 per cent a year this decade," says Mr Ghabbour. "There are countless small and medium-sized companies with this kind of growth rate."
Much like Orascom, Egypt's largest family-owned group, which has interests ranging from tourism to telecoms separated into several publicly listed companies, Ghabbour has been converted to the benefits of going public.
The car assembler, which also has a growing consumer loan subsidiary, hopes to offer 10 to 15 per cent of its equity in an initial public offering later this year. Others, including IGI, a diversified family-owned group with interests in manufacturing, dairy farming and petroleum, are thinking along similar lines.
"There are probably about 10 or 12 family companies with similar plans," says Khaled Sheta, chief executive of International Group for Investment. "All of them will be quoted in a year or two from now." Mr Sheta provides justification for such a move. "Opening your books to the public acts as a good business discipline on managers and enables you to value your assets more accurately," he says.
It is also, of course, a handy way of raising capital without having to cede majority control of the company. Indeed, for the few that have achieved genuine nation-wide market share in their industries, there is little choice but to go public or offer stakes to strategic investors if they want to continue expanding.
Being so small in number, companies such as Ghabbour and Mansour, which has the Coca-Cola and McDonald's franchise in Egypt, are inevitably bumping up against credit limits to their banks.
The creation myths that I have studied are similar in many ways. They also have differences that show an inherently different way of thinking about the world. All have creators-gods that make the world into what is now. There are conflicts within their world, and these conflicts change the face world. God to god or human to god maybe be involved in these conflicts. Their bloody struggles prove who is more powerful, causing change in the control of the world. Some gods are beneficial to man and others are self-serving, using man only as a tool.
In the “Model Prayer”, Jesus taught that prayer is to be directed to the Father, showing His role in prayer: “In this manner, therefore, pray: Our Father in heaven…” (Matthew 6:9). Prayer, being directed to the Father, goes through Jesus (the Word), as He is the “one Mediator between God and men” (1 Timothy 2:5). Finally, the Holy Spirit’s role in prayer (though less clear than that of the other two) is to help us in our weakness (Romans 8:26). It is in this area, more than almost any other, that many attempt to change the assigned roles of each member of the Godhead. While the Father’s role in prayer is for it to be directed to Him, many attempt to direct prayer to the other two members of Deity. Because each member of the Godhead has such a clearly defined role in prayer as revealed in Scripture, to attempt to change of modify those roles seems to be quite presumptuous, unauthorized, and dangerous. Instead, let us hold fast to the Divine pattern for prayer as laid out in the
to 2650 B.C., changed his name to the more commonly known Zoser. It was Zoser
A creation myth is an explanation of how the world began and how people first came to inhabit it. Every creation myth is different, but there is similarity in most of them. Motifs are recurring ideas that help develop a theme and these motifs are common in many creation myths. Three similar motifs are the idea of a supreme being, the idea of people being created from organic material, and the idea of rulers being overthrown. These concepts appear in the Inuit, Greek, Hindu, Chinese, Norse, and many more myths. These three motifs connect to one another and are common in many creation myths.
How did imperialism manage to bring both disaster and success to Egypt? The morals of imperialism are mixed; it all depends on perspective. It brought along famines, heavy taxes, and many others to Egypt. On the other hand, it opened up trade routes from Britain to Asia and India, formed a steady supply of cotton for Britain, etc. (period6-5imperialism10.wikispaces.com, Egypt) In the beginning, Egypt actually tried to modernize itself, as an attempt to ward off European dominance (Modern World History, 354), but debts and other financial problems drove it into Britain’s arms. So how was Egypt affected by this? As a result of imperialism, Egypt received aid on some of the current problems, but were faced with many more new ones.
Wiliam, D. (2007). Keeping learning on track: classroom assessment and the regulation of learning. In: Lester FK (ed) Second handbook of mathematics teaching and learning. Information Age Publishing, Greenwich, pp 1051–1098
...milarities. Their single god creates a firmament, luminaries, dry land, and the people that inhabit that land. Chinese and Egyptian mythology also share an uncanny amount of coincidences, such as the presence of a dog-headed god, or the creation of Earth and the heavens from a cosmic egg. Norse, Japanese, and Greek mythologies, too, agree on a lot of ideals. They each contain a clash of gods and the death of certain gods in order to form life. The list of creation myths, and myths in general, that relate to each other could stretch out for miles. With these parallels, humanity can better understand earlier cultures and document the method to how mythologies change over time.
Genius is still a poplar creation myth that is being followed and taught in the current culture of today. The Genius myth begins like this; in the beginning God a spirit who is neither male nor female created the universe. At this time Earth was a void and was formless, covered in total darkness. Earth was also covered in a raging ocean and
Happiness can be easily defined as the state of well-being and contentment gained by personal life experiences through either direct or indirect connections with the world around us. The people we meet and the trails we go through in life add together to create a hopefully happy life. To be happy in life is indeed the only way to enjoy it. Therefore it’s no wonder that we all strive to achieve this idea of happiness. This interest in the search for true happiness has become a major factor in our modern age. Looking back at our history, the moods of many Americans have seemed to become stagnate even when we experience a rise in salaries and overall life expectance. This begs the question as to what then
There are specifically nine classifications of creation myths and many employ more than one motif. Genesis cosmogonies apply both the deus faber and ex nihilo motifs. The story often considered the ex nihilo myth, meaning "out of nothing" is the account in the first book of the Old Testament, Genesis, of God's creation in six days by speaking into existence light and darkness, sun and moon, stars and earth, plants and animals, and birds and fish. God then generates Adam in His image from the dust and breathes life into him and Eve was formed from one of Adam's ribs, therefore combining deus faber (the "maker-God") with ex nihilo motifs.
IPOs are created by underwriters. The first step in creating the IPO is to hire an investment bank and negotiate a contract. The contract will state the type of securities (either stocks or bonds), the amount of capital to be raised, and the details of the actual underwriting agreement. The company and the investment bank determine the structure of the contract. There are two different types of structured agreements. The first type of structured agreement is the firm commitment agreement, in which the underwriter guarantees that a certain amount of capital will be raised. This is done through buying the entire offer and reselling it to the public. The second type of structured agreement is the best effort agreement, in which the underwriter will sell the securities for the company but does not guarantee how much capital will be raised. To protect themselves with IPOs, an investment bank will often form a syndicate of underwriters. When a syndicate is formed, a lead underwriter will be in charge of the syndicate, while the others will each sell a portion of the securities issued. Once a contract agreement is reached, the investment bank files a registration statement with the Securities and Exchange Commission (SEC) (IPO, 2005).
The Body Shop International case is an interesting case study into the miscommunication of owners and stockholder interests with regard to financial conditions. Anita Roddick, the founder of The Body Shop had no financial experience and thought that all she needed to do was expand her business and the financing would take shape as she developed her business. While Anita’s product concept of a natural skin-care line was good; her lack of experience in financial matters took its toll on her business.
are ever increasing. Contrary to the popular myth that private equity firms weaken companies by
Stories surrounding the creation of the universe varies between religions. In some parts of the world, cultures believe the creation of the universe began its start from the desecration of a mythical creature. For others, the universe existed prior to their deities’ birth. Every story has a beginning, however, how the interpretation of the story differs
We do not make friends because they are useful but the bond of friendship, once it grows stronger and stronger has a number of positive aspects. There are certain secrets that can only be shared with our friends only. When we are facing a difficult situation in our lives, only true friends come forward to help us overcome all the difficulties.