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EGP / USD CBE market average: Buy 17.03 | Sell 17.13 EGP / USD at CIB: Buy 17.02 | Sell 17.12 EGP / USD at NBE: Buy 17.03 | Sell 17.13 EGX30 (Tuesday): 14,024 (+0.9%) Turnover: EGP 372 mn (54% below the 90-day average) EGX 30 year-to-date: +7.6% THE MARKET ON TUESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
May: 50 Egyptian companies are set to visit Libya to discuss trade, investment and reconstruction. May: An IMF delegation will be in town to conduct its final review of the reform program ahead of the disbursement of the sixth and final tranche of Egypt’s USD 12 bn IMF loan. 14 May (Tuesday): Egyptian Private Equity […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 May 2019
Good morning, friends, and welcome to the slowest news morning yet of Ramadan. Business is moving at a snail’s pace between the heat and lack of caffeine, making the one big story of the day the still-unfolding mess in global markets. We have the full rundown in this morning’s Speed Round, below. Meanwhile, the global […]
Posted inEnterprise+: Last Night’s Talk Shows
The nation’s talking heads are on annual leave. Our roundup business- and econ-relevant views from Egypt’s primetime talk shows will return after Ramadan.
Posted inSpeed Round
Global market turmoil sends investors fleeing emerging market shares and currencies
Turmoil in global markets had investors fleeing EM and other so-called “risky” assets yesterday. Shares in developed markets also took it on the chin after China said it would hike tariffs on some US 60 bn worth of US imports. Beijing was reacting to Washington’s decision last week to impose new duties on some USD […]
Posted inSpeed Round
Egypt caps FY2019-20 state spending at EGP 1 tn
EXCLUSIVE- Gov’t caps FY2019-20 public spending at EGP 1 tn: The government has placed a EGP 1.01 tn cap on public spending in FY2019-20 in a bid to hit its deficit- and debt-reduction targets, two government sources told Enterprise. The cap is equivalent to spending forecasts stated in the draft FY2019-20 budget, excluding debt service […]
Posted inSpeed Round
WANT TO HAVE IFTAR WITH US? Take our very short survey, in which we ask you which sector you would most like to see us explore in a dedicated weekly vertical. You can choose from the seven sectors we have included or name a sector yourself. We would also like to know what it is […]
Posted inSpeed Round
Egypt’s MM Group to acquire factoring company Tamweel by the end of May
M&A WATCH- MM Group to acquire factoring company Tamweel by the end of May: MM Group for Industry and International Trade is planning to complete its acquisition of Tamweel Holding by the end of May in partnership with a group of unnamed investors, Chairman Khaled Mahmoud told the local press. MM Group, which focuses primarily […]
Posted inSpeed Round
Egypt’s Investment Act amendments get committee-level approval
LEGISLATION WATCH- Companies looking to do follow-on investment could qualify for the same incentives as a new project: The House Economic Committee has greenlit amendments to the Investment Act approved by cabinet in March, Investment Minister Sahar Nasr said, according to Al Masry Al Youm. The changes would add a clause to Article 12 making […]