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Egypt last month arrested the son of Palestinian president Mahmoud Abbas’ advisor, Nabil Shaath, the politician’s family said in a statement picked up by the Associated Press. The statement says that 48-year-old Rami Saath was questioned by prosecutors yesterday after having been arrested on 5 July on allegations of having ties with the Ikhwan. Shaath […]
Author Archives: enterpriseam admin
Posted inNational Security
Egyptian, Chinese naval forces engage in joint military exercises
Egyptian and Chinese naval forces carried out joint military drills off the Mediterranean Coast, according to an Armed Forces statement. The exercises focused on counter-terrorism and anti-piracy activities.
Posted inON YOUR WAY OUT
J-Lo puts Egyptian designer Nagwa Zahran on the global map
J-Lo puts Egyptian designer Nagwa Zahran on the map: Her visit to Egypt may not have been without its controversy, but Jennifer Lopez’s appearance in a burgundy sequined number at her concert in New Alamein earlier this month is reportedly sending a lot of attention the way of local designer Nagwa Zahran. According to Grazia […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.53 | Sell 16.66 EGP / USD at CIB: Buy 16.55 | Sell 16.65 EGP / USD at NBE: Buy 16.52 | Sell 16.62 EGX30 (Wednesday): 14,357 (-0.5%) Turnover: EGP 926 mn (57% above the 90-day average) EGX 30 year-to-date: +10.1% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
August: Meetings of the Egyptian-Belarussian Committee for trade, economic, scientific and technical cooperation, Minsk. August: The National Railway Authority is expected to sign a 15-year maintenance agreement for 1,300 railcars it had agreed to purchase from Russia’s Transmashholding under a EGP 22 bn contract. 22 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee will […]
Posted inWhat We're Tracking Today
What we’re tracking on 21 August 2019
The Eid news slowdown is showing no signs of letting up... Tomorrow is interest rate day: The Central Bank of Egypt’s Monetary Policy Committee will announce its interest rate decision tomorrow. Three-quarters of economists surveyed by Enterprise this week see the central bank easing (with most anticipating a 100 bps cut). A Reuters poll yesterday […]
Posted inEnterprise+: Last Night’s Talk Shows
All quiet on the airwaves last night
Social media tax coming soon: The Finance Ministry will soon announce a VAT on e-commerce platforms and social media ads, Al Hayah Al Youm’s Lobna Assal had the story (watch, runtime: 05:41). Egyptian banks’ international assets climbed to a record USD 19 bn in July, up from USD 16 bn in June, Assal cited CBE […]
Posted inSpeed Round
Egypt’s state-owned Banque du Caire to go public late 2019 or early 2020
IPO WATCH- BdC could go public before the end of the year: State-owned Banque du Caire will go ahead with its anticipated initial public offering by the end of 2019 or early 2020, Chairman Tarek Fayed told reporters yesterday, according to Reuters’ Arabic service. There remain a few hurdles left to clear before the IPO […]
Posted inSpeed Round
Egyptian economy resilient, but further reform needed to sustain growth- IIF
The Egyptian economy has proven resilient, but further reform is needed to sustain growth- IIF: Egypt is in a strong and “resilient” position three years after the start of the IMF-backed reform program, but there are still structural challenges to overcome to sustain economic growth, the Institute of International Finance (IIF) said in a report […]