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EGP / USD CBE market average: Buy 17.39 | Sell 17.49 EGP / USD at CIB: Buy 17.38 | Sell 17.48 EGP / USD at NBE: Buy 17.38 | Sell 17.48 EGX30 (Monday): 15,098 +0.8% Turnover: EGP 1.4 bn (51% above the 90-day average) EGX 30 year-to-date: +15.8% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
10-12 March: A delegation of 50 Japanese business companies is expected to visit Egypt. 11-13 March (Monday-Wednesday): International Conference on Material Science & Engineering Recent Advances and Challenges, Sofitel El Gezirah, Cairo, Egypt. 14-16 March (Thursday-Saturday): Metal & Steel, Egypt International Exhibition Center, Nasr City, Cairo. 14-16 March (Thursday-Saturday): WINDOOREX, Egypt International Exhibition Center, Nasr […]
Posted inWhat We're Tracking Today
What we’re tracking on 11 March 2019
Medhat Khalil’s take-private bid for Raya Holding kicks off today: A mandatory tender offer for nearly 37% of Raya Holdings by company chairman Medhat Khalil will begin today, the EGX says in a statement. A company majority-owned by Khalil, El Pharonia Real Estate Investment, is making the offer at EGP 5.53 per share, a slight […]
Posted inEnterprise+: Last Night’s Talk Shows
New transport minister and first Red Sea oil and gas exploration tender keep talking heads busy
The appointment of Gen. Kamel El Wazir as new Transport Minister led the airwaves last night (watch, runtime: 02:21), (watch, runtime: 04:33) (watch, runtime: 03:08) and (watch, runtime: 06:33). We have more in this morning’s Speed Round, below. The launch of the first oil and gas exploration tender in the Red Sea also earned some […]
Posted inSpeed Round
Inflation back on the rise, throwing continued easing cycle to doubt
Inflation unexpectedly surges in February: Annual headline urban inflation accelerated to 14.4% in February compared to 12.7% in January, the central bank said in a statement (pdf). Month-on-month, inflation rose to 1.7% in February compared to 0.6% in January. Annual core inflation, which excludes volatile items such as food and fuel, shot up to 9.2% […]
Posted inSpeed Round
Egypt announces Red Sea oil and gas bid rounds for 10 offshore blocks
The scramble to drill for oil and gas in the Red Sea just got underway: The South Valley Egyptian Petroleum Holding Company (Ganope) has launched a tender for 10 oil and gas exploration blocks off the Red Sea coast under a new production sharing contract, according to a company statement (pdf). There is detailed information […]
Posted inSpeed Round
Heliopolis Housing planning to list 32.25% stake by mid-2019
IPO WATCH- Heliopolis Housing planning to offer a 32.25% stake on the EGX by mid-2019: Heliopolis Company for Housing and Development (HHD) is planning to offer a 32.25% stake on the EGX by mid-2019, Sahar Al Damati, HDD’s managing director for financial affairs, told Zawya. Public Enterprises Minister Hisham Tawfik said last week that HHD […]
Posted inSpeed Round
Edita plans to invest EGP 450 mn in 2019
INVESTMENT WATCH- Edita plans to invest EGP 450 mn in 2019: Edita is planning to invest EGP 450 mn on its expansion in Morocco and in adding new production lines in its Egypt facilities, the company said in a bourse filing. The company, Egypt’s largest maker of snack foods by market share with brands including […]
Posted inSpeed Round
Al Canal Sugar signs EGP 1.2 bn, USD 100 mn bridge loan deal
Eastern Sugar Company has lined up bridge financing of EGP 1.2 bn and a further USD 100 mn for its El Minya factory,the company said in a statement (pdf). The syndicated facility was provided by the National Bank of Egypt, QNB Al Ahli, Bank of Alexandria, Industrial Development Bank, The United Bank of Egypt and […]