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EGP / USD CBE market average: Buy 17.48 | Sell 17.58 EGP / USD at CIB: Buy 17.47 | Sell 17.57 EGP / USD at NBE: Buy 17.46 | Sell 17.56 EGX30 (Sunday): 14,956 (-1.3%) Turnover: EGP 527 mn (41% below the 90-day average) EGX 30 year-to-date: +14.7% THE MARKET ON SUNDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
24-25 February (Sunday-Monday): EU-Arab League summit, Sharm El-Sheikh, Egypt. 26 February (Tuesday): BLOCKCHAIN: What is it? Potential Applications Beyond Cryptocurrencies, TIEC Smart Village Building (B5), Cairo, Egypt. 26-28 February (Tuesday-Thursday): 22nd International Conference on Petroleum Mineral Resources and Development, Egyptian Petroleum Research Institute, Nasr City, Cairo, Egypt. 28 February (Thursday): Scaling-up MENA SME's Report Launch […]
Posted inWhat We're Tracking Today
What we’re tracking on 24 February 2019
The first EU-Arab League summitgets underway today in Sharm El Sheikh. Senior European and Arab officials are set to discuss security, terrorism, investment and regional development. UK Prime Minister Theresa May and Saudi King Salman have already arrived for the summit. Topping the agenda: The groundwork for a Turkey-style migration pact, in which Arab states […]
Posted inEnterprise+: Last Night’s Talk Shows
Supply Ministry announces second phase of its subsidy rolls purge
Subsidies are back in the spotlight after the Supply Ministry announced it is going ahead with the second phase of its purge of subsidy rolls. The talking heads were surprisingly understanding of the move and rather less prone to grandstanding than they usually would on the topic. Kramers are being purge from the welfare rolls: […]
Posted inSpeed Round
Still the best carry trade in the world despite surprise rate cut, Egypt is recalibrating its debt strategy
Still the best carry trade in the world despite surprise rate cut, Egypt is recalibrating its debt strategy ahead of March presentation to El Sisi: Pundits who worried that Egypt’s attractiveness to the carry trade would slide after a rate cut can take heart: “Egypt’s real interest rates remain elevated relative to emerging-market peers even […]
Posted inSpeed Round
Gov’t to issue new tender for advisers on EUR-, Asian currency bond issuance
EXCLUSIVE- Gov’t to issue new tender for advisers on EUR-, Asian currency bond issuance: The Finance Ministry is planning to select a new group international banks to advise on upcoming international bond issuances, a senior government official told Enterprise. The advisors will help quarterback an offering of EUR-denominated eurobonds and will advise the government on […]
Posted inSpeed Round
Are there division in the gov’t over how to kickstart state privatization program?
EXCLUSIVE- Could an IPO, not a stake sale, kickstart the state privatization program? The government committee tasked with managing the state privatization has is mulling whether to proceed with the original lineup for the program — with Eastern Company selling shares in an accelerated book build — or to switch things up and go with […]
Posted inSpeed Round
Ride-hailing apps get the green light from top administrative court
Top court strikes down challenge to legality of Uber, Careem: The Supreme Administrative Court overturned a ban on ride-hailing apps, allowing them to operate freely in Egypt, Reuters reported. The court accepted an appeal filed by Uber and Careem against a lower court ruling last March that saw the services banned after a group of […]
Posted inSpeed Round
Trella raises USD 600k+ in pre-seed funding round led by Algebra
EXCLUSIVE- Trella raises >USD 600k in pre-seed funding round led by Algebra: Trella, the trucking marketplace that connects shippers to carriers, has announced that it has secured over USD 600k in a pre-seed funding round led by our friends at Algebra Ventures, who shared the announcement with us in a press release. Founded in 2018, […]