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EGP / USD CBE market average: Buy 16.41 | Sell 16.53 EGP / USD at CIB: Buy 16.41 | Sell 16.51 EGP / USD at NBE: Buy 16.43 | Sell 16.53 EGX30 (Monday): 14,887 (-0.1%) Turnover: EGP 863 mn (41% above the 90-day average) EGX 30 year-to-date: +14.2% THE MARKET ON MONDAY: 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-Wednesday): Sahara Expo, Egypt International Exhibition Center, Cairo. 9-12 September (Sunday-Wednesday): World Energy Congress, Abu Dhabi National Exhibition Center. 10 September (Monday): AmCham lunch with […]
Posted inWhat We're Tracking Today
What we’re tracking on 9 September 2019
It’s shaping up to be an eventful few days, which could see the pace of the news cycle pick up after a bout of humdrum news. The key news trigger this week: The Central Bank of Egypt and Capmas will release August’s inflation figures on Tuesday. Inflation fell unexpectedly to a four-year low of 8.7% […]
Posted inEnterprise+: Last Night’s Talk Shows
Meetings of top Egyptian officials to discuss energy dominates airwaves
Energy projects and developments were the order of the day on last night’s talk shows as top officials held several meetings yesterday. El Sisi, Madbouly, Shaker meet to discuss Dabaa: President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly, Electricity Minister Mohamed Shaker, and Nuclear Power Plant Authority head Amgad El Wakeel discussed the latest […]
Posted inSpeed Round
Egypt mulls raising stamp tax fees on everything under the sun
EXCLUSIVE- FinMin mulls raising fees on electricity consumption, car licenses, bank transactions, and a whole lot else under Stamp Tax Act amendments: A Finance Ministry committee mandated with drafting amendments to the outdated Stamp Tax Act is proposing introducing changes to the stamp tax imposed on electricity consumption and licensing fees for cars and shops, […]
Posted inSpeed Round
Egyptian e-payments platform Fawry plans Gulf expansion
Fawry has big post-IPO plans in the Gulf: Egyptian e-payments platform Fawry plans to expand into the UAE by the end of 2019, and Saudi Arabia and Kuwait in 2020, Managing Director Mohamed Okasha told Reuters. The company is working on an agreement with one of the UAE’s largest listed banks to introduce its platform […]
Posted inSpeed Round
Are we inching closer to Israel-Egypt gas exports?
Are we inching closer to seeing Israel beginning to export gas to Egypt? The operator of the East Mediterranean Gas (EMG) subsea pipeline running between Egypt and Israel has signed an agreement to use a terminal owned by Israel’s Europe Asia Pipeline Company (EAPC) to export natural gas to Egypt, Reuters reports. According to the […]
Posted inSpeed Round
Emaar Misr nears resolution on El Nasr dispute
DISPUTE WATCH- Egypt and UAE’s Emaar sign preliminary settlement agreement on El Nasr dispute: Property developer Emaar Misr has signed a preliminary agreement with the Egyptian government on a proposed settlement to resolve a dispute with state-owned El Nasr Housing over the Emirati company’s alleged failure to develop 3 mn sqm of land allotted to […]
Posted inSpeed Round
Egypt’s cement sector in oversupply crisis -Suez Cement CEO
Egypt’s cement sector in oversupply crisis -Suez Cement CEO: Egyptian cement companies are continuing to flood the market, producing twice as much as the current market demand, said Jose Maria Magrina, CEO of Suez Cement, the largest private supplier of cement and concrete in Egypt. Demand in the sector has fallen 5% each year since […]