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Egypt’s equities are attractively priced compared to current global averages and relative to their own historical averages, Shuaa Securities’ Ahmed Abdelnaby suggests in a research note (pdf). According to Abdelnaby, equities on the benchmark EGX30 index are the third-cheapest in the Arab world, and the sixth-cheapest globally. Across MENA, Egypt leads the pack both in […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Afreximbank to extend further USD 1 bn in trade financing loans to Egypt USD in 2H2019
EXCLUSIVE- Afreximbank to provide USD 1 bn of trade financing loans to Egypt in 2H2020: The African Export Import Bank is planning to provide USD 1 bn of financing in 2H2019 to boost intra-African trade and support Egyptian companies to invest in Africa, a bank official told Enterprise on the sidelines of its annual meeting […]
Posted inSpeed Round
Three Egyptian companies compete for partnership with Mercedes-Benz
Three Egyptian outfits going head-to-head for Mercedes-Benz partnership: Three local manufacturers have presented competing bids seeking to partner with Mercedes-Benz on the assembly of the German automaker’s cars in Egypt, unnamed industry sources tell Al Masry Al Youm. The story provided no timeline or additional details on the bids of Mercedes’ thinking on the process. […]
Posted inSpeed Round
Customs Act amendments to be discussed by Egypt’s House after summer break
EXCLUSIVE- Customs Act parliamentary discussions kicked to FY2019-2020 legislative cycle: The House of Representatives is expected to vote on proposed amendments to the Customs Act after the summer recess, two government sources told Enterprise. The Finance Ministry decided to postpone the vote to give itself time to factor in the planned customs breaks to incentivize […]
Posted inSpeed Round
FRA relieves holding companies from shareholder structure rules
REGULATION WATCH- FRA grants holding companies exemption from some shareholder structure rules: The Financial Regulatory Authority (FRA) is exempting holding companies from meeting ownership structure requirements when establishing new companies under the Capital Markets Act, the regulator said in a statement (pdf). The exemption is meant to streamline the process of setting up new companies, […]
Posted inSpeed Round
The US-led Mideast economic in Bahrain finished yesterday — and it could be back to the drawing board
The US-led Mideast economic conference in Bahrain finished yesterday — and it could be back to the drawing board. Trump’s USD 50 bn Mideast economic plan failed to gather much political support during this week’s Bahrain conference, as the Gulf states and the IMF warned that a political solution to the Israel-Palestine conflict must be […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
The good times will continue to roll if Egypt secures a new pact with the IMF –EFG Hermes
The good times will continue to roll if Egypt secures a new pact with the IMF: Plans to sign a post-program non-financial agreement with IMF will help Egypt maintain its position as the world’s most attractive carry trade, Mohamed Abu Basha, EFG Hermes’ head of macro analysis, tells Bloomberg. Finance Minister Mohamed Maait said yesterday […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 26 June 2019: Amr Warda sidelined from Afcon
Amr Warda getting kicked off the national team over harassment tops Egypt coverage: The Egyptian Football Association (EFA) has barred Egyptian national team player Amr Warda from taking part in any further matches during the African Cup of Nations, the EFA said in a statement. Warda came under fire earlier this week after an Instagram […]
Posted inON THE FRONT PAGES
El Sisi in Japan for G20 summit
El Sisi in Japan for G20 summit: Both Al Ahram and Al Gomhuria’s websites are still down (at this point we’re wondering if they will ever have functioning websites again). President Abdel Fattah’s Al Sisi’s participation in the G20 summit in Japan tops the front page of Al Akhbar, one of the country’s three main […]