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EGP / USD CBE market average: Buy 16.24 | Sell 16.36 EGP / USD at CIB: Buy 16.24 | Sell 16.34 EGP / USD at NBE: Buy 16.23 | Sell 16.33 EGX30 (Monday): 14,431 (+1.5%) Turnover: EGP 943 mn (36% above the 90-day average) EGX 30 year-to-date: +10.7% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
October: A forum will be organized by Russia’s Rosatom and the Nuclear Power Plants Authority to introduce local suppliers and contractors to the Dabaa nuclear plant. October: German businessman delegation will visit Egypt to discuss good projects in order to spend German funds into Egypt October: A delegation of 40-50 Saudi companies will visit Egypt […]
Posted inWhat We're Tracking Today
What we’re tracking on 7 October 2019
Welcome back from a slightly extended weekend break: We’re picking up where we left off on Thursday with another bumper issue. T’was a busy weekend indeed. The Ruskies are here for business: Russian Trade Minister Denis Mantrov landed in Cairo on Thursday at the head of a business delegation that will be in town until […]
Posted inEnterprise+: Last Night’s Talk Shows
FinMin calls state entities to respect minimum wage, El Sisi says Egypt to prevail against “dangerous waves”
The nation’s talking heads have had plenty to keep themselves occupied over the past two nights: FinMin warns against violating minimum wage decision: Finance Minister Mohamed Maait has called on all public bodies to commit to the prime minister’s decision to raise the minimum wage, Assal also noted (watch, runtime: 02:32). Maait asked organizations that […]
Posted inSpeed Round
Egypt’s non-oil business activity improves marginally in September, but remains in contraction territory
Non-oil business activity improves marginally in September, but remains in contraction territory: Egypt’s non-oil private sector continued to contract in September, albeit at a slightly lower rate than August, as output fell for the second consecutive month, according to the Markit / Emirates NBD purchasing managers’ index (PMI) (pdf). The PMI gauge rose fractionally to […]
Posted inSpeed Round
Egypt reduces natural gas prices for three types of factories
Gov’t announces long-awaited decision to lower natgas prices for industry, but only for a few sectors: A ministerial committee lowered on Thursday the price of natural gas for the cement, metallurgy, and ceramics industries after repeated calls by manufacturers, cabinet said in a statement. The price for cement factories was slashed to USD 6 / […]
Posted inSpeed Round
Egypt cuts fuel prices for first time since 2016
Gov’t cuts fuel prices for first time since 2016: The government has revised down prices for all grades of fuel by EGP 0.25 per liter on the back of lower average crude prices and a stronger EGP, the cabinet said in a statement. The committee in charge of setting prices under the automatic fuel pricing […]
Posted inSpeed Round
Egypt’s United Bank sale moving forward, Amer says
M&A WATCH- United Bank sale moving forward: The CBE has appointed one local and one foreign lead advisor on the expected sale of state-owned United Bank, which is “moving forward,” CBE Governor Tarek Amer told reporters at a presser on Thursday, according to Reuters. Authorities should approve the banks’ names within one week, he added. […]
Posted inSpeed Round
Egypt’s non-loan IMF program still “under consideration,” Maait tells Bloomberg
Non-loan IMF program still under consideration but nothing conclusive yet -Maait: Egypt is still looking at securing a non-loan program with the IMF, but future cooperation with the fund could also continue “under any form,” Finance Minister Mohamed Maait told Bloomberg TV on Thursday (watch, runtime: 2:47). The minister said that having a formal agreement […]