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EGP / USD CBE market average: Buy 16.38 | Sell 16.50 EGP / USD at CIB: Buy 16.37 | Sell 16.47 EGP / USD at NBE: Buy 16.39 | Sell 16.49 EGX30 (Wednesday): 15,015 (+0.4%) Turnover: EGP 733 mn (19% above the 90-day average) EGX 30 year-to-date: +15.2% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
September: Cairo will host an Egypt-Hungary business forum, according to a Trade Ministry statement (pdf). 9-12 September (Monday-Thursday): The9th Annual EFG Hermes London Conference, Arsenal Emirates Stadium, London. 9-12 September (Monday-Thursday): Sahara Expo, Egypt International Exhibition Center, Cairo. 9-12 September (Monday-Thursday): World Energy Congress, Abu Dhabi National Exhibition Center. 14 September (Saturday): 8th National Youth […]
Posted inWhat We're Tracking Today
What we’re tracking on 11 September 2019
We have good news to start your Wednesday with, and it’s not just that the weekend is within arm’s reach. Egypt’s headline inflation rate in August fell to its lowest in years, defying expectations of a spike on the back of July’s fuel subsidy cuts. We have chapter and verse on the pleasant surprise in […]
Posted inEnterprise+: Last Night’s Talk Shows
Inflation’s fall to lowest level since 2013 keeps Egypt’s airwaves occupied
Yesterday’s release of inflation figures was the talk of the town, withAl Hayah Youm’s Khaled Abu Bakr (watch, runtime: 3:03) and Masaa DMC’s Ramy Radwan (watch, runtime: 11:03) among those taking note. We have the details in this morning’s Speed Round, below. Inflation figures give CBE impetus for a rate cut: Hona Al Asema’s Lama […]
Posted inSpeed Round
Egypt’s headline inflation falls to six-and-a-half year lows in August
Headline inflation falls to six-and-a-half year low in August, confounding expectations: Egypt’s annual headline inflation rate fell to 7.5% in August from 8.7% in July, a low not seen January 2013, official data showed yesterday. Figures released by Capmas showed that monthly inflation slowed to 0.7% last month from 1.8% in July, driven in part […]
Posted inSpeed Round
Egypt’s tax revenues expected to account for 14% of GDP, investments to spur GDP growth in FY2019-2020
FinMin sees tax revenues accounting for 14% of GDP, investments contributing bigger portion of GDP growth in FY2019-2020: The Finance Ministry expects Egypt’s tax revenues in FY2019-2020 to comprise 14% of the country’s GDP, with that figure projected to rise to 14.3% and 14.5% in the next two fiscal years, according to a report compiled […]
Posted inSpeed Round
GTH finishes paying USD 136 mn settlement to Tax Authority
DISPUTE WATCH- GTH finishes paying USD 136 mn settlement to Tax Authority: The dispute between Global Telecom Holding (GTH) and the Tax Authority finally came to a close yesterday after GTH finished paying its USD 136 mn tax settlement, the authority said in a statement picked up by Mubasher. GTH paid USD 82.3 mn to […]
Posted inSpeed Round
Pharos has a transaction pipeline worth EGP 15 bn
Pharos Holdings has a transaction pipeline worth EGP 15 bn, Pharos’ Managing Director and Head of Investment Banking Noha Ghazaly told the local press. The transactions include M&As and financing transactions in the food and beverage, healthcare, chemicals, and building materials sectors, Ghazaly said, without providing further details. Several of the M&A transactions the investment […]
Posted inSpeed Round
Sarwa close to concluding EGP 5 bn in securitized bond issuances
Consumer and structured-finance player Sarwa Capital is close to concluding two issuances of securitized bonds worth EGP 5 bn, Ayman El Sawy, managing director of Sarwa Promotion & Underwriting, told the local press. The company expects to offer EGP 4 bn in securitized bonds for the New Urban Communities Authority (NUCA) before the end of […]