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Egypt seizes 3rd place in Mastercard’s MENA region businesses

“Mastercard believes that digital transformation is a priority on the Egyptian agenda, which will drive positive change in the country, he commented” writes Hagar Omran for dailynewssegypt.com. Egypt’s efforts toward digital transformation are outstanding, he asserted, noting that he held a recent meeting with Egyptian government officials where he assured that the digital transformation efforts in the country are tangible and notable across the MENA region. Source: dailynewssegypt.com

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Digital transformation to increase Egypt’s competitiveness: Communications Minister

“He stressed the importance of national companies and the Egyptian youth entering digital transformation projects and automating state procedures” writes Daily News Egypt for dailynewssegypt.com. The minister reviewed the second axis of Egypt’s digital strategy, which aims to develop the health and education sectors along with youth training on digital transformation.Digital transformation has positive economic and social effects and is a locomotive for economic growth and can achieve state plans and objectives, he added.Egyptian companies have the opportunity to be influential, industrial, and participate in all components and stages of…

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News Stocks 

Howard Hughes stock tanks after CEO replaced, ‘transformation plan’ underway

“HHC, +1.95% fell more than 18% in the extended session Monday after the real-estate company announced a “transformation plan” and its board appointed Paul Layne the company’s new chief executive, replacing David R. Weinreb” writes Claudia Assis for marketwatch.com. Shares ended the regular trading day up 2%. Source: marketwatch.com

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Markets News Oil 

KSA’s GDP is currently 40% reliant on oil exports: Colliers International 

“In terms of the retail sector, Colliers unveiled that the everchanging retail landscape is showing no signs of steadying as demand emerges for new retail types” writes Nihal Samir for dailynewssegypt.com. In retail, for example, millennials favour more experiential and lifestyle retail over conventional retail,” he added.Colliers revealed that in the next 10 years, the population of Saudi will grow by 5m to almost 40m, of which almost 70% will be under the age of 44.It also highlighted that the growth of regional websites such as Noon.com and Amazon’s Souq.com…

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H&M profit beats forecasts as collections score a hit with shoppers

“Hennes & Mauritz AB Thursday posted a forecast-beating rise in third-quarter net profit as new collections and fewer markdowns helped offset higher costs from turnaround efforts” writes Dominic Chopping for marketwatch.com. The Swedish fashion retailer HM.B, -2.97%  posted a net profit of 3.86 billion Swedish kronor ($391 million) for the quarter ended Aug. 31, compared with SEK3.1 billion a year earlier.Analysts polled by FactSet had expected a profit of SEK3.76 billion. Sales rose to SEK62.57 billion from SEK55.82 billion, as previously announced, while net sales in September are estimated to…

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The Future of Payments: How to Accelerate Digital Transformation in Payments

“The last decade has seen an acceleration in the rate at which banks are being encouraged, or required, to innovate and transform their business” reports finextra.com. With PSD2 and GDPR now in action, questions are being raised about whether this was a success for the payments market and whether legacy structures need to be shaken up as the status of real-time payments and open banking initiatives in Europe become complicated.Banks are also having to contend with the likes of Google, Apple, Facebook, Amazon and Alibaba as they figure out the…

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Data-First Transformation in HR: The Value Proposition of Implementing Compensation Technology

“With a greater view and better management of staff compensation across an organisation, a light can be shone on any pay inequalities, for example” reports finextra.com. In this way, data-fuelled technology to improve compensation management can yield wider benefits to the business, and with a simplified and agile data management system, schemes of equal and greater complexity can be supported.It will stay this way too, as organisations need to become agile, continually morphing and transforming in line with more sophisticated data management as well as frequent regulatory updates and iterations.Holistic…

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Markets News Oil 

The US-China trade war has set in motion an unstoppable global economic transformation

“The most knowing delegates at this year’s World Energy Congress, who met here this week, continued to worry about the US-Chinese trade war” writes Frederick Kempe for cnbc.com. Frederick Kempe is a best-selling author, prize-winning journalist and president & CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs.If nothing interrupts this process, it will reverse 40 years of increased trade, financial and economic integration of the two countries. Source: cnbc.com

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Egypt eyes digitalisation of industry, but faces challenges

“Digital transformation is expected to achieve additional revenue and create new business models, digital products, services, and solutions” writes Shaimaa Al-aees for dailynewssegypt.com. Two years ago, the ministry of trade and industry said Egypt seeks to apply digital transformation mechanisms on the national industry, in preparation for the fourth industrial revolution.Most recently, creating smart cities and communities became a top trend in Egypt with the aim of promoting innovative technologies and digital transformation.Egypt’s digital transformation strategy focuses on several axes: developing infrastructure,  creating a conducive business environment, investing in human…

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Markets News Stocks 

There’s a sudden transformation taking place in the stock market and it’s unnerving some investors

“The value fund rose again Tuesday, trading 0.5% higher while the momentum fund dropped another 1.3%” writes Fred Imbert for cnbc.com. The S&P 500 closed little changed for the session, but value stocks — those with low multiples and stable fundamentals — significantly outperformed their growth counterparts.This shift is unnerving to investors because momentum stocks, those defined by their large growth expectations relative to the broader market, have outperformed value names in recent years. A rotation away from these stocks could result in a downturn for the broader market.The momentum…

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