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Cheese producer Domty has signed a medium-term, EGP 100 mn loan with the CIB to fund future expansion plans, including the launch of new products, the company said in an EGX disclosure (pdf). The company agreed to repay the bank within 75 months from the date of the first withdrawal.
Author Archives: enterpriseam admin
Posted inOther Business News of Note
SME Development Authority taps EUR 15 mn grant for infrastructure projects
The SME Development Authority has signed contracts with six governorates for infrastructure projects that will be financed through a two-year EUR 15 mn European Investment Bank grant signed last year, the authority’s head of human and social development sector, Mohamed Massoud, told MENA news agency. The project aims to improve the business environment for SMEs, […]
Posted inON YOUR WAY OUT
New WEF program to improve women’s participation in Egyptian economy
New WEF program to improve women’s participation in Egyptian economy: The World Economic Forum is launching its “Closing the Gender Gap Accelerator” in Egypt, an initiative to support boost women’s role in the economy, it said in a statement. The three-year initiative aims to increase participation in the job market, including in leadership positions, and […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.25 | Sell 16.38 EGP / USD at CIB: Buy 16.26 | Sell 16.36 EGP / USD at NBE: Buy 16.25 | Sell 16.35 EGX30 (Wednesday): 13,595 (+3.2%) Turnover: EGP 776 mn (17% above the 90-day average) EGX 30 year-to-date: +4.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
26 September (Thursday): Central Bank of Egypt’s Monetary Policy Committee will meet to review interest rates. 27 September (Friday): The Justice Ministry’s dispute resolution committee will hear a case filed by Raya Holding against the Financial Regulatory Authority (FRA). 28-30 September (Saturday-Monday): Techne Summit, Alexandria. 28 September (Saturday): Smart Vision Egyptian Women’s Forum, venue TBA. […]
Posted inWhat We're Tracking Today
What we’re tracking on 25 September 2019
Aside from the fact that the EGX has, in just three days, largely erased its gains of this year (more on that in Speed Round, below), the big news of the day is taking place outside Egypt as world leaders grapple with political headaches. It could be shaping up to be a spectacularly bad day […]
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s visit to New York continues to lead the conversation on Egypt’s airwaves
As we suspected, President Abdel Fattah El Sisi’s activities at the UN General Assembly remain at the forefront of the talking heads’ agendas. Al Hayah Al Youm’s Lobna Assal received the daily update from Khaled Abu Bakr, who’s in New York to cover the UN meetings (watch, runtime: 12:04). We have a full recap in […]
Posted inSpeed Round
EGX share slide continues, wiping out 2019 gains
EGX share slide continues, nearly wiping out 2019 gains: The sell-off on the EGX accelerated yesterday, as investor concern about the impact of protests last weekend almost wiped out the index’s 2019 gains. The benchmark EGX30 index fell 4.2% in a third successive day of losses after dropping 5.3% on Sunday and 1.5% on Monday. […]
Posted inSpeed Round
Schneider Electric looking to buy Egyptian tech companies
M&A WATCH- Schneider Electric is mulling the acquisition of a number of Egyptian tech companies,Middle East and Africa President Caspar Herzberg told Al Mal without elaborating further. Schneider also aims to turn Egypt into an export hub for the region and beyond, targeting 70 countries in the Middle East, Africa, Central Asia and Turkey, he […]