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EGP / USD CBE market average: Buy 16.7114 | Sell 16.8114 EGP / USD at CIB: Buy 16.69 | Sell 16.79 EGP / USD at NBE: Buy 16.73 | Sell 16.83 EGX30 (Monday): 13,788 (+0.7%) Turnover: EGP 303 mn (61% below the 90-day average) EGX 30 year-to-date: +5.8% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
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 03 June 2019
It’s official: We’re on Eid break as of tomorrow morning — but you may still be fasting. Both the central bank and the EGX have confirmed that our five-day Eid El Fitr weekend begins tomorrow. Banks, capital markets (and, by extension, much of the private sector) are on holiday Tuesday through Thursday. Civil servants will […]
Posted inEnterprise+: Last Night’s Talk Shows
The annual Ramadan hiatus for the talking heads is almost over. Our coverage of the nightly talk shows will return after the Eid break.
Posted inSpeed Round
Is The Donald about to ask Egypt to give up part of Sinai to the Palestinians under his ‘Mideast’ peace plan?
Is The Donald about to ask us to give up part of Sinai to the Palestinians under his ‘Mideast’ peace plan? For two decades now, we have scoffed at conspiracy theories that claimed unnamed nefarious (usually American) forces were plotting to dismember Egypt. It’s the stuff of the tin-foil-hat brigade. But the Palestinians now claim […]
Posted inSpeed Round
Abu Qir to sell stake after Eid as part of Egypt’s privatization program
Abu Qir stake sale to take place after Eid El Fitr: The government could sell as much as 20% of Abu Qir Fertilizers via an accelerated book build on the EGX shortly after the Eid El Fitr break, Al Mal reports, citing unnamed sources. The final decision of the exact size of the sale rests […]
Posted inSpeed Round
Delek hopes to start gas exports to Egypt by the end of June
Delek looks set to meet its end-of-June target to start gas exports to Egypt: Israel’s Delek Drilling is on track to begin commercial sales of natural gas to Egypt by the end of the month, with technical testing on the pipelines that will carry the gas currently underway, Deputy CEO Yossi Gvura tells Reuters. Trial […]
Posted inSpeed Round
Helios, EAEF acquire 96.7% stake in Misr Hytech
M&A WATCH- Helios, EAEF acquire 96.7% of Misr Hytech: Helios Investment Partners and the Egyptian-American Enterprise Fund (EAEF) have acquired a 96.7% stake in Misr Hytech, according to a statement. The acquisition was made through investment manager Lorax Capital Partners. “We are very excited about the great potential of this investment in contributing to the […]
Posted inSpeed Round
Edita signs USD 30 mn loan facility agreement with the IFC
INVESTMENT WATCH- Edita lands loan worth up to USD 30 mn from IFC: Edita has signed an agreement with the International Finance Corporation (IFC) for a seven-year facility that could be worth up to USD 30 mn, according to a statement (pdf). The company will initially receive USD 20 mn as a first tranche, but […]