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The EGX30 fell 0.9% at today’s close on turnover of EGP 1.87 bn (4.2% above the 90-day average). Foreign investors were net sellers. The index is up 11.4% YTD. In the green: Edita Food Industries (+11.0%), Juhayna (+2.7%) and Credit Agricole Egypt (+1.2%). In the red: Oriental Weavers (-8.6%), GB Auto (-6.5%) and Elsewedy Electric […]
Author Archives: enterpriseam admin
Posted inCALENDAR
FEBRUARY 26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center. 2 February (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting. 5 February (Sunday): The Senate reconvenes. 11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities. 12 February (Sunday): The House reconvenes. 13-15 February (Monday-Wednesday): The Egypt Petroleum […]
Posted inWhat We're Tracking Today
THIS MORNING: The Fed hiked rates yesterday. Will the CBE follow today?
Good morning, wonderful people, and a very happy THURSDAY. Don’t relax just yet — it’s already shaping up to be a very busy news day. DRIVING THE CONVERSATION here at home this morning: Prime Minister Moustafa Madbouly’s announcement that stakes in no less than 20 state-owned companies will be offered to strategic investors, on the […]
Posted inUncategorized
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Posted inPrivatization
We’ll get the names of 20 companies in the listing pipeline next week
Get ready for the details on 20 companies in the privatization pipeline: The government will next week reveal the names of at least 20 state-owned companies in which it plans to offer stake sales over the next year, Prime Minister Moustafa Madbouly said at a press conference yesterday (watch, runtime: 15:05 or read the cabinet […]
Posted inReal estate
Gov’t introduces fresh support for real estate developers amid economic challenges
The state answers real estate players’ pleas: Real estate developers are now entitled to a 20% deadline extension on their projects, Prime Minister Moustafa Madbouly said at yesterday’s post-cabinet meeting press conference (watch, runtime: 15:05 or read the cabinet statement.) There’s more: The government will also consider projects finished when they are 85% complete, down […]
Posted inCabinet watch
More golden licenses, oil exploration on the cabinet agenda
Cabinet rolls out approvals for four more golden licenses + 13 oil agreements: Prime Minister Moustafa Madbouly and his ministers took steps towards granting more golden licenses and oil agreements at this week’s cabinet meeting, according to a statement. More golden licenses to come: The cabinet granted four unnamed companies — in the logistics, vaccine […]
Posted inM&A WATCH
MNT-Halan on its way to unicorn status with major Chimera investment
IFC is also intending to invest USD 40 mn in MNT-Halan
Posted inAutomotive
Auto sales fall 73% in December
Auto sales slump continues in December: Auto sales fell 73% y-o-y in December as import restrictions continued to weigh on the sector. Some 7.9k vehicles were sold during the month, compared to almost 29.3k in December 2021, according to figures released by the Automotive Marketing Information Council (AMIC). This is the lowest since at least […]
Posted inEnergy
US contractor McDermott to work on Greece–Africa Power Interconnector
Another Greece-Egypt electricity interconnector is in the works: The US contractor McDermott has signed an MoU with Greek renewables company Eunice Energy Group to work on a 2-GW interconnector that will link Greece and Egypt’s electricity grids, according to a joint statement. The Greece–Africa Power Interconnector (GAP) will transit the Mediterranean between Crete and Marsa […]