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The Egyptian Resorts Company (ERC) has announced legal action to scrap contracts for four land plots sold in June 2015 for USD 40 mn due to the companies’ failure to make payments, the company said in an EGX disclosure (pdf). ERC did not name the companies involved, but said they only paid USD 10 mn […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
3,600 year-old scrolls show principles of state-led healthcare at play in ancient Egypt
3,600-year-old scrolls show principles of state-led healthcare at play in ancient Egypt: Egyptian papyri texts dating back between 3,100 and 3,600 years, discovered in 2015, show that the precursor to universal healthcare may have originated in ancient Egypt, the Financial Times reports. The scrolls showed that workers in Deir El Medina who crafted tombs for […]
Posted inON YOUR WAY OUT
Tutankhamun exhibition draws record 1.42 mn in Paris
Tutankhamun exhibition draws record 1.42 mn visitors in Paris: A new Tutankhamun show, with over 150 treasures from the monarch’s tomb — including 60 that had never left Egypt before — set a new all-time record for visitors in France, with a turnout of 1.42 mn AFP reports. Tutankhamun: Treasures of the Golden Pharaoh, described […]
Posted inThe Market Yesterday
The Market Yesterday
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 16.24 | Sell 16.34 EGX30 (Monday): 13,753 (-1.5%) Turnover: EGP 1.3 bn (98% above the 90-day average) EGX 30 year-to-date: +5.5% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
23-24 September (Monday-Tuesday): World Economic Forum: Sustainable Development Impact Summit, New York, USA. 23-25 September (Monday-Wednesday): Engineering Export Council of Egypt’s Home Appliance and Tableware Show (HATS), Kempinski Royal Maxim, Cairo 24 September (Tuesday): A roundtable discussion titled “investing in renewable energy and sustainable development” organized by Media Avenue, Nile Ritz Carlton, Cairo. 26 September […]
Posted inWhat We're Tracking Today
What we’re tracking on 23 September 2019
Let’s get the bad news out of the way: It wasn’t pretty on the EGX yesterday. The EGX30 had its worst day since 2016, closing down 5.3% after tripping circuit breakers earlier in the day, as traders and investors reacted to protests over the weekend. The wider EGX100 fell nearly 5.7% during the day, its […]
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s in New York, gov’t slum development plan on Egypt’s airwaves
President Abdel Fattah El Sisi’s trip to New York dominated the airwaves for the second day in a row, setting what we expect will be the theme of the week on the airwaves. El Sisi is set to address world leaders at the UN Climate Action Summit, which kicks off later today, Al Hayah Al […]
Posted inSpeed Round
EGX has worst day since 2016 after weekend protests
The EGX turned in its worst showing since 2016 yesterday as investors dumped shares following two nights of protests in Egyptian cities. The benchmark EGX30 index fell 5.32%, while the wider EGX100 closed down nearly 5.7%, its worst single-day decline since 2012. Chemical, real estate, and basic materials companies were especially hard hit, but dairy […]
Posted inSpeed Round
CI Capital-led consortium acquires 60% of Taaleem for EGP 1.2 bn
M&A WATCH- CI Capital-led consortium acquires 60% stake in Taaleem in EGP 1.2 bn transaction: Investment bank CI Capital and a group of co-investors have completed the acquisition of a 60% stake in Taaleem Management Services Company, the owner and operator of Nahda University in Beni Suef, from Thebes Education Management Holdings in an EGP […]