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The House of Representatives yesterday approved three foreign financing agreements to fund rural development, irrigation, and rail infrastructure. It also gave its final nod to some articles of a draft tourism bill it passed in principle earlier this week. The House has now adjourned and will reconvene on Sunday, 12 February. The financing agreements approved […]
Author Archives: enterpriseam admin
Posted inLAST NIGHT’S TALK SHOWS
Privatization plans, interest rates, and CDs make for another econ-heavy night
We got more economy lessons from the talking heads last night, as the government’s upcoming announcement on its listing pipeline and tomorrow’s rate policy meeting at the central bank took top billing on the airwaves. Lamees urges “significant” EGX listings — not only strategic stake sales: Noting that cabinet did not invite any EGX reps […]
Posted inEGYPT IN THE NEWS
Yet more int’l coverage on the state of our economy
The economic crisis is still getting ink:The government’s Ahlan Ramadan discount supermarket expo is seeing high turnout amid soaring inflation, Reuters reports, while Qantara covers the economic impact of the EGP devaluation and Africa Report looks at Egyptians’ use of social media to voice disquiet about the country’s predicament.
Posted inAlso on our Radar
GASC launches its second int’l wheat tender this month
COMMODITIES- A second World-Bank backed wheat buy: State grain buyer GASC has launched an international tender for 30-60k tons of wheat for delivery in late February or March, according to its website. Traders need to submit their bids directly to GASC by midday tomorrow. This is GASC’s second grain tender this month, breaking a hiatus […]
Posted inPLANET FINANCE
Saudi economy on a tear + Chinese business is back in expansion
The Saudi non-oil economy expanded at its fastest pace in more than a year in 4Q 2022, according to government figures (pdf) out yesterday. The non-oil economy grew by 6.2% in the final quarter of last year while the oil sector rose 6.1% on the back of heightened oil prices. Business activity in China expanded […]
Posted inDiplomacy
Egypt is “deeply willing” an end to Russia-Ukraine crisis, FM Shoukry tells Russia’s Lavrov
FM Shoukry urges an end to Russia-Ukraine crisis in Moscow talks: Foreign Minister Sameh Shoukry told his Russian counterpart Sergei Lavrov that Egypt is “deeply willing to see an end to military confrontations with Ukraine” in a meeting in Moscow yesterday, according to an SIS statement. The pair also discussed strengthening bilateral relations and developments […]
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 TONIGHT
THIS EVENING: IDH calls time of death on IDC acquisition + Eurozone did better than expected in 2022
Good afternoon, wonderful people, and a very happy hump day to you all. We have another brisk news day here in Omm El Donia to mark the mid-point of the week — and the last day of January. THE BIG STORY TODAY IDH scraps IDC acquisition bid: LSE- and EGX-listed consumer healthcare firm IDH has […]