Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The EGX30 rose 0.6% at today’s close on turnover of EGP 3.53 bn. Foreign investors were net sellers. The index is up 11.0% YTD. In the green: EFG Hermes (+5.8%), e-Finance (+4.1%) and Orascom Construction (+3.9%). In the red: Eastern Company (-7.1%), Ibnsina Pharma (-2.3%) and Palm Hills Development (-2.2%).
Author Archives: enterpriseam admin
Posted inCALENDAR
NOVEMBER 20 November-18 December (Sunday-Sunday): 2022 Fifa World Cup, Qatar. 27-30 November (Sunday-Wednesday): Cairo ICT and Pafix, Egypt International Exhibition Center, New Cairo. DECEMBER 1 December (Thursday): Sphinx International Airport will begin operating international flights. 1 December (Thursday): Contractors to break ground on Egypt-Saudi interconnection project. 1-3 December (Thursday-Saturday): BiznEX kicks off at Mamsha Ahl […]
Posted inWhat We're Tracking Today
THIS MORNING: Could Ryanair land in Egypt?
Good morning, wonderful people — and happy last day of November. There are now 31 days left in 2022. We have a packed issue for you this morning, including the latest in CEO poll of top executives on why we need to focus on FDI and exports, word that BMW has appointed a new agent […]
Posted inUncategorized
Enjoy renting with home comfort, privacy, exclusive privileges, and tailor-made packages for an unforgettable guest experience. A signature collection of handpicked serviced villas, chalets, apartments, and studios to transform your vacation into an exceptional experience, and to discover the magic of Somabay in luxury bliss. For booking inquiries, contact us by phone at +20 155 […]
Posted inCEO POLL
ALC’s Bahaa Alieldean on why freezones are key for FDI and exports
We recently had breakfast with 20 top CEOs to talk about why exports and FDI are key to our economy going forward. After reading our five-step recipe for turning Egypt into a global export hub and FDI magnet, participating CEOs agreed to answer two questions on the record for our latest CEO Poll. We have […]
Posted inM&A WATCH
The new face of BMW in Egypt
An international JV now represents BMW and Mini in Egypt, says it’s restarting local assembly: BMW has made Global Auto Group its new importer and agent in Egypt. Global is a joint venture between Kuwait’s Ali Alghanim & Sons Automotive, Saudi Arabia’s Mohamed Yousuf Naghi Motors, and local firms Organi Group and Al Safi Group, […]
Posted inEconomy
KSA rolls over its USD 5 bn CBE deposit
Saudi Arabia is extending by one year its USD 5 bn deposit at the Central Bank of Egypt (CBE), state-run Saudi Press Agency reports. The kingdom made the deposit in March. The sum forms part of over USD 22 bn pledged in investments and deposits by our GCC neighbors to help shore up Egypt’s finances […]
Posted inDebt
The end of subsidized loans to industry
Subsidized loans to industrial, agricultural, and construction companies will be axed, Deputy Central Bank of Egypt (CBE) Governor Gamal Negm said during a cabinet meeting yesterday. Borrowers who have already taken out loans under the program will continue to benefit from the subsidized 8% interest rate. However, industry players who want to extend or borrow […]
Posted inLEGISLATION WATCH
Senate votes to pass wildcat building law + Say goodbye to your not-so-friendly neighborhood sayes?
Wildcat building law gets Senate sign off: After three days of debate, the Senate gave its final nod yesterday to legislation aimed at making it easier for owners of illegal buildings to go legit. What will it cost owners to get their buildings legalized? The current draft of the bill sets reconciliation fees at a […]
Posted inDISPUTE WATCH
GB Auto, Misr Beni Suef Cement have separate arbitration news for us
GB Auto has filed an arbitration case against the Algerian government for what it says are “severe damages and losses suffered” due to unspecified measures taken against GB Auto’s units and investments in the country. In an EGX disclosure (pdf), the company says its Algerian units — GBR Auto and GBR Services — have suffered […]