? UNDER THE LAMPLIGHT- All the People I’ve Been by Rayan Mansour comprises a set of short stories about the various dimensions of our personalities, and how a person can live more than one life. In her book, Mansour claims that everyone has the ability to transform who they are by bringing us beyond our […]
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What the markets are doing on 12 January, 2023
The EGX30 rose 0.15% at today’s close on turnover of EGP 2.59 bn (55.9% above the 90-day average). Local investors were net buyers. The index is up 6.53% YTD. In the green: Heliopolis Housing and Development (+10.6%), Alexandria Containers and Cargo Handling (+4.9%) and AMOC (+4.5%). In the red: Cleopatra Hospitals (-3.2%), Mopco (-2.7%) and […]
JANUARY January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time. January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power. January: Global Auto to restart BMW assembly in Egypt. 15 January (Sunday): Tourism Minister Ahmed Issa to speak […]
THIS MORNING: Where will the EGP go next? Here are 6 questions you need to be asking today.
Good morning folks, and happy THURSDAY. It’s been a rollercoaster of a week — and it’s not over yet: We’ll be keeping a close eye on both today’s interbank foreign currency auction as well as how the EGX reacts. THE BIG STORY here at home: No prizes for guessing that it’s still the EGP. The […]
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EGP breaks the 30 barrier against the USD before settling at 29.76
The EGP tumbled to a new all-time low against the greenback yesterday as authorities continued to transition to a fully flexible exchange rate as agreed with the IMF. The currency fell in the interbank auction by a little over 16% to 32.20 to the USD by 1pm before rebounding to close at 29.76 per the […]
Industry and agriculture to get fresh subsidized loans at a higher 11% rate
Gov’t plans EGP 150 bn subsidized loan program for industry and agriculture: The Madbouly government is set to offer EGP 150 bn worth of loans at a subsidized 11% interest rate to industry and agriculture players, according to a cabinet statement. The program is set to launch next week, immediately after cabinet gives its final […]
TE could get in on future flows
Telecom Egypt is looking at future flow securities as a potential debt tool to help fund its expansions and investments, a source close to the matter confirmed to Enterprise. The company is considering future flows along with other types of securities, and has yet to decide on the value of bonds it wants to issue […]