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The Financial Regulatory Authority has granted Premiere Securities a short selling license, the local press reported. The company joins a growing list of brokerages authorized to short sell — including Arqaam, EFG Hermes, CI Capital, the Arab African International Securities, Prime Holdings, and HC Securities. Short selling transactions are expected to begin in 3Q2019, FRA […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
USAID, Pepsi sign MoU to improve Egypt’s potato supply chain
USAID and PepsiCo have signed an MoU to improve the potato supply chain in Egypt, the US embassy said in a press release (pdf). The two organizations will work together to increase the quality and yield of potato crops, support reliable trading relationships, and help farmers to introduce more sustainable agricultural methods.
Posted inOther Business News of Note
Egypt’s administrative court turns down pending appeals to bring back iron tariffs
The administrative court has rejected all pending appeals to bring back a 15% import duty on iron billets, reports Masrawy. Eight appeals had been lodged by the State Lawsuits Authority on behalf of the ministry and 16 by Beshay Steel and Delta Steel, after twenty-one iron factories won a case at the court reversing the […]
Posted inSports
Aston Villa complete signing of Trezeguet
Aston Villa have completed the signing of Egypt international winger Trezeguet, Reuters reports. The UK club did not disclose any financial details related to the transfer, but reports last week suggested that it will pay GBP 8.75 mn for the player.
Posted inMy Morning Routine
My Morning Routine: Soha El-Turky, chief financial officer at Banque du Caire
Soha El-Turky, chief financial officer at Banque du Caire (BdC): My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Soha El-Turky, chief financial officer at Banque du […]
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 16.55 | Sell 16.65 EGX30 (Wednesday): 13,618 (-0.5%) Turnover: EGP 576 mn (6% below the 90-day average) EGX 30 year-to-date: +4.5% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through an agreement with the European Bank for Reconstruction and Development (EBRD). 25 July (Thursday): US Secretary of Energy visiting Cairo. 28 July-02 August (Sunday-Friday): Fab15 Conference and Graduation Ceremony, TU Berlin, El Gouna, Egypt. […]
Posted inNational Security
Egypt, US, UAE hold joint military exercises in Red Sea
The Egyptian, US and UAE naval and air forces began a joint military exercise dubbed Eagle Response 2019 in the Red Sea on Monday, the Armed Forces said in a statement.
Posted inON YOUR WAY OUT
Egypt to restore Ataba market damaged in June
The government is planning to rebuild the historic Ataba vegetable market after a fire in June damaged almost half of its shops, the cabinet said in a statement. The government plans to restore damaged parts, replace the power system and install fire safety features to avoid similar incidents in the future.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.56 | Sell 16.68 EGP / USD at CIB: Buy 16.56 | Sell 16.66 EGP / USD at NBE: Buy 16.56 | Sell 16.66 EGX30 (Monday): 13,685 (+0.8%) Turnover: EGP 397 mn (37% below the 90-day average) EGX 30 year-to-date: +5.0% THE MARKET ON MONDAY: The EGX30 ended […]