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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 […]
Author Archives: enterpriseam admin
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) […]
Posted inLAST NIGHT’S TALK SHOWS
Last Night’s Talk Shows: Port snarls could be resolved by end of December?
It was another slow-ish night on talk shows yesterday, with the talking heads focusing on efforts by the government to release shipments piled up at ports. Goods worth some USD 6 bn are currently stuck at ports amid a shortage of FX needed to get them released, Alaa Ezz, secretary-general of the Federation of Egyptian […]
Posted inAlso on our Radar
Social ins contributions and payouts to rise in the new year
Among the other stories we’re paying attention to this morning: ECONOMY- Employees will pay more towards social ins. starting in January: The subscription wage used to calculate national ins. contributions for public and private sector workers will be raised to a minimum of EGP 1.7k and a maximum of EGP 10.9k as of 1 January […]
Posted inPLANET FINANCE
UAE’s Adnoc to invest USD 150 bn to expand in gas, chemicals, and green energy + Are investors calling time on the quest to build self-driving cars?
Adnoc is spending big: The UAE’s Abu Dhabi National Oil Company (Adnoc) will invest USD 150 bn under a five-year business plan that will see it up hydrocarbon production and sell a minority stake in its gas and LNG operations, as well as work toward net-zero emissions by 2050, the company said in a statement. […]
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. 2-3 December (Thursday-Saturday): BiznEX kicks off at Mamsha Ahl […]
Posted inWHAT WE’RE TRACKING TONIGHT
THIS EVENING: The Central Bank of Egypt is looking at a lot of options to bring in FX + Protests in China over covid-zero trudge on
Good afternoon, wonderful people. We have a brisker news day to bring you than we did yesterday — plus your usual roundup of everything you need to know to stay on top of the World Cup in Qatar. THE BIG STORY TODAY A peek into the CBE’s plan to shore up FX supply? The Central […]