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EGP / USD CBE market average: Buy 17.11 | Sell 17.21 EGP / USD at CIB: Buy 17.12 | Sell 17.22 EGP / USD at NBE: Buy 17.12 | Sell 17.22 EGX30 (Monday): 14,801 (-0.3%) Turnover: EGP 340 mn (60% below the 90-day average) EGX 30 year-to-date: +13.5% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
23-24 April (Tuesday-Wednesday): SME Corporate Governance Workshop, Fairmont Nile City Hotel, Cairo, Egypt. 25 April (Thursday): Sinai Liberation Day, national holiday. 25 April (Thursday): Belt and Road Forum for International Cooperation, Beijing, China. 28 April (Sunday): Easter Sunday, national holiday. 29 April (Monday): Easter Monday, national holiday. 30 April-1 March (Tuesday-Wednesday): US Federal Open Market […]
Posted inWhat We're Tracking Today
What we’re tracking on 22 April 2019
It’s the last day of balloting in the constitutional referendum. Voters in Egypt have until this evening to vote on a package of constitutional amendments. Polls closed yesterday for Egyptians living abroad. You can read the statement by the National Elections Authority here. The vote continues to dominate foreign media coverage of Egypt; we have […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s talking heads have a message for you: tens of mns are voting in constitutional referendum
The second day of voting on the proposed constitutional amendments was by far the most popular topic on the airwaves last night. What the TV media is trying to tell you: The referendum has seen “unusually high turnout” (the phrase cropped up multiple times). The final voting day for Egyptian expats was a “huge success,” […]
Posted inSpeed Round
Government to set cost-to-income ratio at 70% under new banks tax treatment
EXCLUSIVE- Gov’t to set cost-to-income ratio at 70% under new bank tax treatment of investments in treasuries, plans to scrap annual increase: The Finance Ministry is planning to amend the way banks will calculate their cost-to-income ratio for their holdings of government debt under the new tax treatment. The move will see the cost-to-income ratio […]
Posted inSpeed Round
Customs payment dispute with Mercedes importer returns
DISPUTE WATCH- Customs dispute with Mercedes importer in Egypt is back from the dead: A dispute between the Customs Authority and an Egyptian importer of Mercedes-Benz cars that was settled earlier this year has apparently resurfaced and is now before the Investment Ministry’s dispute resolution committee to be sorted out, according ot a domestic press […]
Posted inSpeed Round
Ibnsina lodges appeal with Egypt’s Court of Cassation to further reduce antitrust fine
DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation’s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine to EGP 160 mn, the company said in a statement to […]
Posted inSpeed Round
State-owned e-finance is part of second wave of Egypt’s privatization program
IPO WATCH- Fintech company e-finance will IPO as part of the second privatization wave: State-owned financial technology company e-finance will be part of the second wave of the state privatization program, which is set to begin as early as September, Public Enterprises Minister Hisham Tawfik said, without providing further details. E-finance is majority owned by […]
Posted inSpeed Round
Companies up to 75% owned by the state could be reclassified as “law 159” enterprises
LEGISLATION WATCH- Companies up to 75% owned by the state could be reclassified as “law 159” enterprises: Listed companies in which the government owns up to a 75% stake would no longer fall under the Public Enterprises Act if draft legislation now being prepared is passed, Public Enterprises Minister Tawfik reportedly said, according to Al […]