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President Abdel Fattah El Sisi ratified the FY2019-2020 state budget, according to the Official Gazette. The House of Representatives had passed the budget last week.
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Historical Palace Cinema in Garden reopens after renovation
The Culture Ministry reopened the Garden City Cinema in Heliopolis last Thursday after a three-year hiatus, Asharq Alawsat reports. Established in 1989, the palace was renovated as part of plans to restore historical sites in the capital. Exhibitions and workshops are planned to take place at the site.
Posted inON YOUR WAY OUT
Egypt’s El Lahun pyramid of pharaoh Senusret II opens to the public
Fayoum’s El Lahun pyramid of pharaoh Senusret II opens to the public: Antiquities Minister Khaled El Anany opened to the public on Friday the “El Lahun” pyramid of pharaoh Senusret II, the ministry said in a statement. This is the first time the 4000-year-old monument becomes accessible to the public since its discovery by British […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.64 | Sell 16.77 EGP / USD at CIB: Buy 16.64 | Sell 16.74 EGP / USD at NBE: Buy 16.65 | Sell 16.75 EGX30 (Thursday): 14,100.74 (+0.67%) Turnover: EGP 1,116 mn (58% above the 90-day average) EGX 30 year-to-date: +8.2% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
July: Customs officials from Egypt and the US will sit down to discuss “procedural and administrative matters” as part of the Trade and Investment Framework Agreements (TIFA). 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 27 June 2019
We have a nice long weekend ahead of us, as Sunday is off in observance of 30 June. Banks and the stock exchange will be closed. Enterprise will also be off on Sunday, and we’ll be back in your inbox at the appointed hour on Monday morning. That doesn’t mean the president has the weekend […]
Posted inEnterprise+: Last Night’s Talk Shows
The talking heads take a break
The talking heads took a break last night, presumably in recognition of the fact that they can’t beat football for entertainment value. We’ll be back with coverage on Monday.
Posted inSpeed Round
GTH signs dispute settlement agreement with Egypt’s Tax Authority, FRA approves Veon MTO
GTH signs tax settlement agreement, regulator approves Veon’s MTO, ending the years-long saga: Veon subsidiary Global Telecom Holding (GTH) signed a USD 136 mn tax settlement agreement with the Egyptian Tax Authority, GTH said in a bourse filing (pdf). GTH has called for a shareholders’ meeting on 27 August to vote ondelisting the company. Board […]
Posted inSpeed Round
Egypt targets 1Q2020 Samurai, Panda bond issuances
EXCLUSIVE- Egypt may offer Samurai and Panda bonds in 1Q2020: The Finance Ministry is aiming to secure approvals from Asian central banks by November to issue Panda and Samurai bonds in 1Q2020, two sources told Enterprise. The procedures may take up to two months, after which the government will hire investment banks that will decide […]