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EGP / USD CBE market average: Buy 17.39 | Sell 17.49 EGP / USD at CIB: Buy 17.40 | Sell 17.50 EGP / USD at NBE: Buy 17.40 | Sell 17.50 EGX30 (Thursday): 14,904 (+1.8%) Turnover: EGP 1.16 bn (26% above the 90-day average) EGX 30 year-to-date: +14.3% THE MARKET ON THURSDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
10 March (Sunday): CIB will hold an EGM meeting to look into planned capital increase. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 06 March 2019
Good morning, friends, and happy Thursday from Enterprise Global Headquarters, where we are all looking forward to a warm and sunny weekend. Egypt won’t go back to the IMF, cap in hand for more: Our future cooperation with the IMF on the reform program will not involve another loan, Madbouly Cabinet spokesperson Nader Saad told […]
Posted inEnterprise+: Last Night’s Talk Shows
Econ and business kept talking heads busy last night
Foreign holdings in Egyptian treasuries climbed to USD 15.8 bn by end-February amid a surge in appetite and positive sentiment (watch, runtime: 01:44). We have more on this in our Speed Round, below. New amendments to the Investment Act were not issued to resolve obstacles, but to offer incentives to investors to expand, General Authority […]
Posted inSpeed Round
Alabbar, Saudis gobble up 25% of shares on offer from Eastern Company stake sale
Alabbar, Saudis gobble up 25% of shares on offer from Eastern Company stake sale: Emirati businessman and chairman of Emaar Properties Mohamed Alabbar, along with a number of unamed Saudi Arabian investors, have bought 25% of shares in the institutional offering of Eastern Company’s stake sale that took place last weekend, according to a statement […]
Posted inSpeed Round
AfDB plans USD 1.2 bn of financing to Egypt over 2019 and 2020
EXCLUSIVE- AfDB plans USD 1.2 bn of financing to Egypt in 2019 and 2020: The African Development Bank (AfDB) is planning to provide USD 1.2 bn in new funding to Egypt in 2019 and 2020, focusing on energy and development sectors, AfDB Egypt Country Manager Malinne Blomberg told Enterprise. The pan-African bank is currently in […]
Posted inSpeed Round
Foreign holdings in Egyptian treasuries up to USD 15.8 bn
Foreign holdings in Egyptian treasuries up to USD 15.8 bn: Foreign investors held USD 15.8 bn of Egyptian treasury bills and bonds at the end of February, Finance Minister Mohamed Maait revealed on Wednesday, in a leap from January’s figures of USD 13.36 bn, Reuters reports. “That’s great news,” said Allen Sandeep, head of research […]
Posted inSpeed Round
Committee finishes small enterprises tax draft law
EXCLUSIVE- VAT minimum registration requirements to be amended as an incentive to SMEs: The government is set to amend the minimum revenue required to register for VAT to spare SMEs from the burden of paying a VAT, a government official told Enterprise yesterday. The government plans to raise the minimum revenue requirement to EGP 1 […]
Posted inSpeed Round
Madbouly Cabinet approves amendments to the Investment Act
CABINET WATCH- Madbouly Cabinet approves amendments to the Investment Act: The Madbouly Cabinet approved on Wednesday amendments to the Investment Act that expand the application of the law. Under amendments to Article 12, any expansion to an already existing investment project is eligible for the incentives granted under the law, Investment Minister Sahar Nasr said. […]