Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The EGX30 fell 0.2% at today’s close on turnover of EGP 1.73 bn (3.2% below the 90-day average). Foreign investors were net sellers. The index is up 12.4% YTD. In the green: Oriental Weavers (+5.5%), CIRA Education (+2.3%) and Juhayna (+1.4%). In the red: Talaat Moustafa Holding (-4.8%), GB Auto (-4.3%) and e-Finance (-4.1%).
Author Archives: enterpriseam admin
Posted inSustainability
Ultra-fast fashion comes at a hefty price
Shein’s ultra fast-fashion is as popular as it is unsustainable: Chinese retailer Shein is at the forefront of a new wave of fast-fashion companies that are making the clothing business cheaper, faster, and less sustainable than ever before. Founded in 2008, the fashion giant is valued at some USD 100 bn and continues to generate […]
Posted inCALENDAR
FEBRUARY 26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center. 30 January-1 February (Monday-Wednesday): CI Capital’s Annual MENA Investor Conference 2023, Cairo, Egypt. 31 January-1 February (Tuesday-Wednesday): Federal Reserve interest rate meeting. 1 February (Wednesday): Capricorn Energy will hold a vote on its merger with Israel’s NewMed. 1 February (Wednesday): OPEC will […]
Posted inWhat We're Tracking Today
THIS MORNING: The new month should bring big privatization news
Good morning, wonderful people, and welcome to the first day of February. It’s another macro-heavy kind of news day here at home, with plenty on the state of our economy — and more speculation about the government’s privatization plans. DRIVING THE CONVERSATION here at home this morning: The Madbouly government is teasing a big announcement […]
Posted inUncategorized
Experience a time of serenity and breathtaking views of the Red Sea where you get to enjoy life as it should be, only at Somabay. A gateway for the perfect winter vacation where you can combine all your vacation elements from one place. For more information, kindly contact us at 16390 or www.somabay.com.
Posted inEconomy
IMF trims Egypt growth forecast
The IMF has cut its economic growth forecast for Egypt, saying it sees GDP growing 4.0% this year, a 0.4 percentage point trim from its previous forecast in October, according to its updated World Economic Outlook released yesterday (here and here, pdf). That’s in line with forecasts from the Madbouly government, which in November predicted […]
Posted inBanking
ADIB + NBK give thumbs-up to econ reforms
Two Gulf lenders are positive on Egypt: Senior staff at Abu Dhabi Islamic Bank (ADIB) and National Bank of Kuwait (NBK) both expressed optimism about Egypt and their businesses here in interviews yesterday. ADIB is reassured that we’re taking the right measures: Group CFO Mohamed Abdel Bary said he has confidence that Egypt has all […]
Posted inM&A WATCH
IDH ends its pursuit of Pakistani diagnostics firm IDC
IDH pulls the plug on acquisition of a major stake in IDC: Integrated Diagnostics Holdings (IDH) has walked away from its bid to acquire a major stake in one of Pakistan’s largest diagnostics providers due to regulatory issues and challenging economic conditions, the multinational consumer healthcare outfit said in disclosures to the London Stock Exchange […]
Posted inDevelopment finance
EBRD and partners fund more green finance for SMEs + EBRD, BII lend USD 100 mn to BdC
DFIs to fund more green projects + privatization candidate BdC gets funding: More funding for green projects will be available to local SMEs courtesy of the European Bank for Reconstruction and Development (EBRD), the EU, and the Green Climate Fund. Meanwhile, EBRD and British International Investment said they would provide a USD 100 mn facility […]
Posted inTelecoms
TE to buy USD 125 mn of new bandwidth to bolster its network
TE lands new frequencies: Telecom Egypt will pay USD 125 mn to acquire 5 MHz of new bandwidth in the 1800-MHz frequency band, after the National Telecommunications Regulatory Authority accepted the company’s bid, TE said in a statement(pdf) yesterday. The new bandwidth will help the state-owned operator provide faster service and support heavier traffic, it […]