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The EGX30 rose 1.7% at today’s close on turnover of EGP 2.1 bn (45.5% above the 90-day average). Local investors were net buyers. The index is up 3.3% YTD. In the green: Fawry (+7.8%), Rameda Pharma (+6.3%) and Alexandria Mineral Oils Company (+6.2%). In the red: Egypt Kuwait Holding-USD (-2.6%) and Cleopatra Hospitals Group (-1.7%).
Author Archives: enterpriseam admin
Posted inClimate
Planet Earth has some daunting climate challenges with a ballooning population
The global population is now at 8 bn, a milestone that brings daunting — but not insurmountable — climate challenges: Earlier this week, the global population reached 8 bn people and is on course to reach 10.4 bn by the 2080s, the UN said. These figures, along with the fact that in many parts of […]
Posted inCALENDAR
NOVEMBER 6-18 November (Sunday-Friday): Egypt will host COP27 in Sharm El Sheikh. 13-22 November (Sunday-Tuesday): Cairo International Film Festival (CIFF). 15-16 November (Tuesday-Wednesday): G20 summit, Bali, Indonesia. 20 November (Sunday): House of Representatives is back in session. 21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar. 22 November- 23 November (Tuesday-Wednesday): The Fingerprint Summit will […]
Posted inWhat We're Tracking Today
THIS MORNING: There are only three days left of COP27. Or are there?
Good morning, wonderful people. Climate is again the big story of the day, as you might expect with just three days of COP27 left to go. BUT, BUT, BUT… There’s an outside chance that delegates could be staying in Sharm El Sheikh past Friday in a bid to reach an agreement. That was from COP27 […]
Posted inUncategorized
2CELLOS — LIVE AT SOMABAY on 18 November, 2022: Mark your calendars — world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian […]
Posted inEnergy
Egypt signs framework agreements for green hydrogen + ammonia plants worth USD 83 bn
Another step forward to becoming a green energy hub: Egypt has signed framework agreements with international power companies to construct nine green hydrogen and ammonia facilities in the Suez Canal Economic Zone, a series of government statements (here, here and here) yesterday. The facilities would collectively produce up to 7.6 mn tons of green ammonia […]
Posted inEnergy
The SFE could acquire 10% of ACWA, Hassan Allam wind farm
SFE could invest in 1.1 GW wind farm being developed by ACWA, Hassan Allam: The Sovereign Fund of Egypt (SFE) could acquire a minority stake in ACWA Power’s planned 1.1-GW wind farm in the Gulf of Suez. The wealth fund is considering making an investment in the facility under the terms of an MoU signed […]
Posted inCLIMATE CEO POLL
The Enterprise Climate CEO Poll: Joel Van Dusen, head of corporate and investment banking at Mashreq
Enterprise Climate CEO Poll- Joel Van Dusen: With just a few days to go until COP27 winds down in Sharm El Sheikh, we continue our inaugural Climate CEO Poll in EnterpriseAm and Enterprise PM. Our series of interviews with top C-suite execs and business leaders covers key issues being raised at the summit, including climate […]
Posted inEconomy
Unemployment rate ticks up in 3Q 2022
Egypt’s unemployment rate rose marginally to 7.4% in 3Q 2022, up 0.2 percentage point from last quarter, according to data (pdf) from statistics agency Capmas out yesterday. The jobless rate is down 0.1 percentage points in comparison with the same quarter last year. REMEMBER- The official unemployment rate only includes people who are looking for […]
Posted inInfrastructure
Maersk’s SCCT inks contract for USD 500 mn East Port Said port expansion
It’s official: AP Moller-Maersk will embark on a major USD 500 mn expansion of East Port Said port that is expected to raise its capacity by 40%. The Suez Canal Container Terminal (SCCT) — majority-owned by Maersk’s APM Terminals — yesterday signed a contract with the Suez Canal Economic Zone (SCZone) that will put it […]