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Raya Holding’s recycled plastic producer BariQ aims to invest EGP 300 mn to expand its Sixth of October facilities, Sales Manager Ahmed Nabil told the local press. The company aims to establish new production lines to double its output capacity to 3.2 bn recyclable bottles per year. The company exports 100% of the raw material […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Egypt’s newly-established securities federation receives 90 membership requests
Egypt’s Federation for Securities has so far received over 90 membership requests since it was established by the Financial Regulatory Authority (FRA) in March, head of the federation’s establishing committee Soliman Nazmy said yesterday. The committee is waiting for more of the 550 FRA-licensed firms to request membership before organizing board elections. Each member company […]
Posted inSports
Mo Salah named captain of Egypt’s national football team
Mohamed Salah has been named the new captain of Egypt’s national football team, recently-appointed head coach Hossam El Badry announced on Saturday, according to the local press. Speculation was rife that Salah may leave the Pharaohs following tension with the Egyptian Football Association (EFA) for allegedly not voting for Salah to receive the Best Fifa […]
Posted inON YOUR WAY OUT
US actor Steven Seagal visits Egypt for Gouna Film Festival
US actor Steven Seagal made a whistlestop and (excuse us for this) action-packed visit to Egypt on Friday, attending the Gouna Film Festival and then touring the Giza Pyramids with his wife, Egypt Today says. Seagal is best known for starring in cheesy ‘90s action movies and fighting accusations of [redacted] assault.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.20 | Sell 16.33 EGP / USD at CIB: Buy 16.21 | Sell 16.31 EGP / USD at NBE: Buy 16.23 | Sell 16.33 EGX30 (Monday): 14,258 (-0.4%) Turnover: EGP 688 mn (2% above the 90-day average) EGX 30 year-to-date: +9.4% THE MARKET ON MONDAY: The EGX30 ended […]
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 30 September 2019
We’re one trading session into the week, and so far so good. The EGX gained another 3.3% yesterday, continuing last week’s late rally to claw back losses in a torrid Sunday-Tuesday sell-off. The EGP also strengthened against the USD on the back of Thursday’s interest rate cut and improving sentiment among investors about the country’s […]
Posted inEnterprise+: Last Night’s Talk Shows
EGP, EGX rally after CBE rate cut
The EGP flexed its muscles against the USD yesterday, rallying on the first market day after the central bank cut key interest rates by another 100 bps in last week’s MPC meeting (watch, runtime: 02:22). The EGP strengthened to 16.31 against the greenback on Sunday compared to 16.38 on Thursday. The EGX30 picked up where […]
Posted inSpeed Round
EGX30 extends rally after central bank loosens policy
EGX30 extends rally after CBE loosens monetary policy: The benchmark EGX30 index climbed 3.3% at session close yesterday in response to the central bank’s 100 bps interest rate cut on Thursday and muted protests over the weekend. All of EGX30 shares rose yesterday, led by Qalaa Holdings, which surged 13.7%. Index heavyweight CIB rose 2.5%. […]