Author Archives: enterpriseam admin
What the markets are doing on 7 February, 2024
The EGX30 rose 2.3% at today’s close on turnover of EGP 6.3 bn (74.1% above the 90-day average). Foreign investors were net buyers. The index is up 12.1% YTD. In the green:Sidpec (+12.8%), Oriental Weavers (+8.2%) and Telecom Egypt (+5.1%). In the red: GB Corp (-6.3%), Ibnsina Pharma (-5.0%) and Juhayna (-4.0%).
FEBRUARY 3-8 February (Saturday-Thursday): Japanese Film Week by The Japan Foundation. 4-10 February (Sunday-Saturday): Petite Salle Exhibition at Passion Art Gallery. 6-11 February (Tuesday-Sunday): My Bedroom 2 theater performance at Dawar. 7 February (Tuesday): Karaoke Night at ROOM Garden City. 7 February (Wednesday): Perfect Days film screening and discussion at Laplace. 8 February (Thursday): Tablet […]
Blinken has landed in the region
Good morning, friends. The news cycle is beginning to pick up. We have econ, M&A, and diplo news for you this morning. THE BIG STORY HERE AT HOME- Twelve-month non-deliverable forwards have dipped and stabilized yesterday at c. EGP 57.00 to the greenback — down from a high of nearly 67 just a few days […]
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Non-oil private sector remains in contraction as inflation weighs on demand, dims business confidence
Egypt’s PMI fell to a three-month low of 48.1 from 48.5 in December
Kazyon expands into Saudi Arabia, acquiring half of discount retailer Dukan
Transaction was by an investment by an unnamed sovereign fund
FX reserves see slight uptick in January
The country’s reserves inched up to just under USD 35.25 bn by the end of January