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EGP / USD CBE market average: Buy 16.19 | Sell 16.31 EGP / USD at CIB: Buy 16.21 | Sell 16.31 EGP / USD at NBE: Buy 16.23 | Sell 16.33 EGX30 (Sunday): 14,316 (+3.3%) Turnover: EGP 939 mn (38% above the 90-day average) EGX 30 year-to-date: +9.8% THE MARKET ON SUNDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
28-30 September (Saturday-Monday): Techne Summit, Alexandria. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 29 September 2019
Of rate cuts, EGX rebounds, and a very quiet Friday: To take things in the order they happened, the news cycle here at home was dominated by the EGX rebounding at the end of last week, the CBE’s 100 bps interest rate cut on Thursday, and the relative absence of protests this past Friday. We […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt brushes off UNHCR criticism, El Sisi talks new cities
Different week, same stories. Egypt brushes off OHCHR criticism: Egypt has rejected criticism from the United Nations’ High Commissioner for Human Rights Michelle Bachelet a wave of detentions that followed weekend protests earlier this month, Al Hayah Al Youm’s Lobna Assal points out (watch, runtime: 06:49). We have more on this in our Speed Round, […]
Posted inSpeed Round
Central Bank of Egypt cuts rates by 100 bps, in line with expectations
In line with expectations, CBE cuts rates: The Central Bank of Egypt’s Monetary Policy Committee (MPC) cut interest rates by 100 bps on Thursday, the CBE said in a statement (pdf). The central bank cited last month’s inflation figures, which hit a six-year low, as well as declining unemployment and rising real GDP growth. Accelerating […]
Posted inSpeed Round
Late-week EGX30 rebound has helped to steady share slide
Late-week EGX30 rebound helped stymie share slide: Despite the EGX30 being the second-worst performing equity index of last week, a late-week rebound has mitigated some of the damage, with the index finishing the week down 6%, writes the Financial Times. In the first three trading days of the week, the benchmark index plummeted 11% on […]
Posted inSpeed Round
Protesters gather for more small-scale demonstrations on Friday
Huge security op delivers a quiet Friday nationwide: Small numbers of protesters attempted to gather in a handful of cities on Friday for a second round of protests but were thwarted by a massive government security operation, the Wall Street Journal reports. Security forces had much of central Cairo on lockdown, closing all streets leading […]
Posted inSpeed Round
Egypt’s pharmacists syndicate probes into law breach by pharmacy chain 19011
DISPUTE WATCH- Pharma syndicate probes suspected legal violation by pharmacy chain 19011: The Pharmacists’ Syndicate is investigating pharmacy chain 19011 for a suspected breach of a law stipulating that pharmacists should own no more than two retail branches, reports Al Masry Al Youm. The investigation was opened after its owners appeared on Amr Adib’s El […]
Posted inSpeed Round
Egyptian Antiquity smugglers would now spend more time in prison if caught
CABINET WATCH- Antiquity smugglers would now spend more time in prison, pay up to EGP 10 mn if caught: The Madbouly Cabinet has approved amendments to the Antiquities Protection Law that would set fines of between EGP 1 mn to EGP 10 mn and impose tougher prison sentences for anyone caught in possession of or […]