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Foreign holdings of Egyptian treasuries rose to USD 14.6 bn in February (EGP 249.6 bn) , compared to USD 13.7 bn (EGP 233.8 bn) in January, according to the CBE’s March monthly statistical bulletin (pdf). Finance Minister Mohamed Maait said in March that foreign holdings of t-bills stood at USD 15.8 bn at the end […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Gov’t rolls out EGP 2.5 bn for Education Ministry to pay off urgent loans
BUDGET WATCH- The Finance Ministry has agreed to a EGP 2.5 bn increase in the Education Ministry’s FY2019-20 budget allocation to pay off “urgent” loans, House Planning and Budgeting Committee Chair Yasser Omar tells the local press. The two ministries will study making available EGP 8.5 bn for the ministry amid efforts to increase the […]
Posted inSpeed Round
Earnings Watch: EFG Hermes, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt
EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019 to EGP 374 mn, the company announced in a statement (pdf). Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and fees earnings, which reached EGP […]
Posted inSpeed Round
CORRECTION- Yesterday we mistakenly wrote that Acwa Power had offered to sell electricity from its Kom Ombo solar facility at USD 0.275 per KwH. The correct price is actually USD 0.0275 per KwH. The story has been corrected on our website.
Posted inSpeed Round
** WE’RE HIRING: We’re looking for a podcast producer with a strong track record with audio production. The ideal candidate will have experience and background in audio production and journalism. This includes familiarity with audio production software, such as Adobe Audition. A background in business / economics / finance, and/or entrepreneurship and technology is also […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
The Saudi camel parade captured by drone
Camels have beauty pageants, too: The month-long Saudi camel parade that doubles as a camel beauty pageant culminated with a procession that was captured by a drone image displayed by National Geographic, with the owners and judges driving alongside the camels making their critiques.
Posted inEGYPT IN THE NEWS
Egypt in the News on 15 May 2019
It’s another blessedly quiet morning for Egypt in the foreign press. A handful of headlines making the rounds: Bye, Cairo: Ahead of the move out to the new administrative capital, ITV takes a quick look at the urban planning woes the government is trying to leave behind. Shubra church death: A civilian church guard shot […]
Posted inON THE FRONT PAGES
El Sisi reaffirms commitment to development in Africa, stability in Sudan
El Sisi reaffirms commitment to development in Africa, stability in Sudan: Egypt is committed to the reconstruction and development of Africa and is prepared to provide Sudan with whatever help it requires during its transitional phase, President Abdel Fattah El Sisi was quoted as saying on the front pages of the country’s three state-run dailies […]
Posted inWorth watching
Have we reached “peak Wall Street,” and will a crisis follow?
Have we reached “peak Wall Street” — and will a crisis follow? Global financialization has peaked, and focusing more on markets than the real economy is likely to bring diminishing returns — and, potentially, a future crisis due to excessive corporate debt, argues Rana Foroohar in the Financial Times (watch, runtime: 2:00). Financialization — or […]