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Prolific Egyptian science fiction writer Ahmed Khaled Tawfik was celebrated with a Google Doodle yesterday, on what would have been his 57th birthday. Tawfik wrote over 500 books before his death in 2018, including the bestselling horror series Ma Waraa Al Tabiaa, which Netflix is adapting as its third Arabic original series. Google’s tribute to […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.69 | Sell 16.79 EGP / USD at CIB: Buy 16.67 | Sell 16.77 EGP / USD at NBE: Buy 16.71 | Sell 16.81 EGX30 (Monday): 14,149 (+1.7%) Turnover: EGP 932 mn (21% above the 90-day average) EGX 30 year-to-date: +8.5% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
1H2019 (date TBD): Investment Minister Sahar Nasr will head a delegation of businessmen into Mexico City to explore cooperation avenues with the Latin American country. June: International Forum for small and medium enterprises (SMEs). June: Egypt will host the first economic forum for Union for the Mediterranean (UfM) countries to promote trade and investment in […]
Posted inWhat We're Tracking Today
What we’re tracking on 10 June 2019
Inflation figures for May are due out today: The central bank and state statistics agency CAPMAS are expected to release today inflation figures for May, and the hope is that inflation will continue to cool despite what is typically a bump during Ramadan. Annual headline inflation cooled unexpectedly in April to 13% from 14.2% the […]
Posted inEnterprise+: Last Night’s Talk Shows
Maait’s speech to G20 meeting of finance ministers dominates Egypt’s airwaves
Finance Minister Mohamed Maait’s speech at the G20 meeting of finance ministers in Japan caught the attention of the nation’s talking heads last night. Maait highlighted economic and fiscal sector reforms during the speech, Al Hayah Al Youm’s Lobna Assal reported (watch, runtime: 2:45). He provided the usual rundown of macroeconomic targets recently announced by […]
Posted inSpeed Round
Veon agrees to pay EGP 2.2 bn to settle GTH’s tax dispute
EXCLUSIVE- Veon looks set to pay up to EGP 2.2 bn to settle Global Telecom Holding’s tax dispute in Egypt: Telecom group Veon has agreed in principle to pay as much as EGP 2.2 bn to end a tax dispute between Egypt’s Tax Authority and Veon subsidiary Global Telecom Holding (GTH). A final agreement could […]
Posted inSpeed Round
House Planning and Budget Committee to discuss unifying capital gains tax
LEGISLATION WATCH- House pushes ahead with proposal on capital gains tax reform: The House of Representatives’ Planning and Budget Committee is planning to move forward with its plans to unify capital gains tax, despite the Tax Authority having already shot the idea down, the committee’s deputy chair Yasser Omar told the local press. Omar had […]
Posted inSpeed Round
ESC looking to invest EGP 3 bn in Egypt by 2022
INVESTMENT WATCH- Maker of Flo bottled water looks to invest EGP 3 bn in Egypt by the end of 2022: The Egyptian-Saudi Company for Natural Water and Food Industries (ESC), the distributors of Flo-branded water, is planning to invest EGP 3 bn in Egypt by the end of 2022, Chairman Mahmoud Daoud told the local […]
Posted inSpeed Round
GCC-Egyptian consortium looking to acquire Emisal Salts for at least EGP 700 mn
M&A WATCH- A bidding war for Emisal Salts? A consortium made up of Kuwait’s Al Madar Finance and Investment and the Saudi-Egyptian Industrial Investment (SEII) is looking to acquire Emisal Salts, potentially triggering a bidding war with Egypt Kuwait Holding. The consortium has offered EGP 700 mn as a starting bid, in a challenge to […]