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The Finance Ministry began distributing almost 5 mn “Meeza” debit cards to public sector workers at the beginning of September as part of government efforts to increase financial inclusion, it said in a statement. Ten banks are participating in the scheme, including Banque Misr, the National Bank of Egypt, Banque du Caire, and CIB. The […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
UAE’s Tabreed looking to enter Egyptian market
The UAE’s National Central Cooling Company (Tabreed) is looking to enter the Egyptian market, CEO Bader Al Lamki said yesterday without providing further details, according to Mubasher. Speaking on the sidelines of the World Energy Congress in Abu Dhabi, Al Lamki said the company — which currently operates 75 stations in the Gulf — is […]
Posted inON YOUR WAY OUT
Luxor’s hot air balloons are back in business
The Civil Aviation Authority has allowed hot air balloon trips in Luxor to resume after an 80-day suspension, ensuring that operators took necessary measures to achieve better security and safety, according to Ahram Gate. The authority suspended flights in June after a balloon was driven off course by strong winds.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.38 | Sell 16.51 EGP / USD at CIB: Buy 16.39 | Sell 16.49 EGP / USD at NBE: Buy 16.41 | Sell 16.51 EGX30 (Tuesday): 14,956 (+0.5%) Turnover: EGP 711 mn (16% above the 90-day average) EGX 30 year-to-date: +14.7% THE MARKET ON TUESDAY: The EGX30 ended […]
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 10 September 2019
The news here at home is dominated this morning by the Euromoney Egypt conference, which took place yesterday. Among the noteworthy results from an audience poll at the one-day gathering: A “clear, transparent and fair regulatory structure” was cited as the most important thing for the government to provide to encourage digitization in Egypt. Two-thirds […]
Posted inEnterprise+: Last Night’s Talk Shows
Meetings between top officials continue to occupy Egypt’s airwaves
No particular theme dominated the airwaves last night, but the talking heads all continued keeping tabs on President Abdel Fattah El Sisi’s meetings with top officials. Gov’t administrative reform plan: President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly, and Planning Minister Hala El Said reviewed the state’s administrative reform plan, which Ittihadiya spokesperson Bassam […]
Posted inSpeed Round
Egypt to issue up to USD 7 bn in int’l bonds in FY2019-2020 -Maait
The Finance Ministry plans to issue USD 3-7 bn in international bonds during FY2019-2020, Finance Minister Mohamed Maait said on the sidelines of the Euromoney conference yesterday, according to Reuters. “We would love to go for yuan and yen,” he said, adding that the offerings could also include sukuk and green bonds. Egypt held two […]
Posted inSpeed Round
Egypt’s state-owned e-Finance to go public by the end of the year, says chairman
IPO WATCH- Is the e-Finance IPO back on for 2019? The planned initial public offering of state-owned payments platform e-Finance will take place by the end of the year, Chairman and Managing Director Ibrahim Sarhan said at the Euromoney conference yesterday, according to Ahram Online. Sarhan’s statement comes weeks after he told the newspaper that […]