Here are some interesting facts about Egypt:
1. It is ranked 29th in terms of GDP.
2. It has extensive coal, oil, and natural gas reserves.
3. Its primary industries are agriculture, media, petroleum exports, and tourism.
4. It is the third-largest recipient of U. S. foreign aid.
5. It was rated as one of the top countries in the world undertaking economic reforms by the IMF.
6. In 2005 it decreased corporate taxes from 40% to 20%.
7. It is supposedly the highest earner of Foreign Direct Investment on the African continent in 2007.
8. It is the country with the highest population in the Middle East.
Here are some Egyptian stocks that are worth checking out:
Commercial International Bank (OTC:CMGGF), is a bank holding company in Egypt with 74 branches. Its net profit for the latest quarter was 56.39%, and its operating margin was 61.91%. Its return on average equity was 44.96%. EFG Hermes GDR (OTC:EFGZF) is in the business of investment banking, private equity, asset management and investment brokerage. It also manages two funds, the Jordan Hi-Tech Venture Fund Limited, which invests in the information technology sector in Jordan, and the Middle East Technology Fund. Its net profit margin for the latest reported quarter was 58.27%, its operating margin was 68.62%, and its return on average equity was 13.17%. El Ezz Steel Rebars (OTC:ALZJF) manufactures and markets steel, ceramics, sanitary ware, and pipes. Its operating margin for the latest reported quarter is 21.84%, and it has a return on average equity of 37.45%. Orascom Construction GDR (OTC:ORSDF) operates in 20 countries. It is in the business of manufacturing and marketing building materials, and in construction contracting. Its operating margin was up only 0.46%, and its return on average equity was down slightly. Orascom Telecom SAE (OTC:ORSTF) , is an international mobile communications which operates in Algeria, Pakistan, Egypt, Tunisia, Iraq, Bangladesh and Zimbabwe. Its operating margin for the latest reported quarter was 18.32%, and the return on average equity was 33.31%. Suez Cement (OTC:SUZXF), is a manufacturer and marketer of gray and white cement. Its operating margin for the latest quarter increased by 36.63%, and its return on average equity was 17.85%. Telecom Egypt (OTC:TEGPY), provides retail and wholesale landline telecommunication services. It has an operating margin of 25.40%, and a return on average equity of 6.26%.
Disclosure: The author does not own any of the above.