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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. 2-3 December (Thursday-Saturday): BiznEX kicks off at Mamsha Ahl […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
THIS MORNING: One week to go until the Enterprise Climate X Forum + More friendly winks from Turkey
Good morning, wonderful people, and happy hump day. One week from today — right about now — a bunch of us will be heading toward the Grand Egyptian Museum to get ready to meet many of you at the Enterprise Climate X Forum. It’s our first-ever large-scale event, with more than 200 C-suite execs, bankers, […]
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 +20155 600 […]
Posted inCEO POLL
Somabay’s Ibrahim El Messiri on how a tourism push could draw immediate FX
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 inEconomy
Plenty of options on the table
CBE looks at proposals to help shore up FX liquidity: The Central Bank of Egypt (CBE) is mulling a handful of options as part of its strategy to increase FX liquidity, after CBE Governor Hassan Abdalla met with the heads of the nation’s banks on Sunday, Bloomberg Asharq reports, citing sources it says attended the […]
Posted inEconomy
Economy grew 4.4% y-o-y in the first quarter of 2022 despite global headwinds
Egypt’s economy grew 4.4% y-o-y in 1Q FY 2022-2023, according to preliminary data from the Planning Ministry. GDP growth in the first quarter of the state’s current fiscal year (which starts in July) came despite continued global headwinds thanks to the pandemic, the war in Ukraine, and climate change, Planning Minister Hala El Said said […]
Posted inEnergy
BP gets two new Mediterranean gas blocks
BP has been awarded gas exploration rights in two offshore blocks in the Mediterranean Sea, the company said in a statement (pdf). The oil and gas giant has now been awarded four blocks so far this year, along with a block extension, “which offer the potential for gas discoveries that could be developed using existing […]
Posted inAutomotive
Egypt car sales down again in October
Auto sales down yet again: Monthly auto sales fell in October as the industry faces continued import difficulties. Less than 6.1k passenger vehicles were sold last month, down 69% from the same month last year, according to figures released by the Automotive Information Council (AMIC), an industry group. Passenger vehicle sales hit a 4.5 year […]
Posted inEGYPT IN THE NEWS
Exchanging currencies and commodities
No single story is driving the conversation on Egypt in the international press this morning: Investors and analysts are expecting the EGP to weaken a bit more against the greenback, possibly before the IMF executive board approves a funding package in December, Bloomberg reports. Reuters is out with a story on the Egyptian Mercantile Exchange(EMX) […]