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Preparations to release Egyptian photojournalist Mahmoud Abu Zeid “Shawkan” have been made after five years in prison, according to Ahram Online. Shawkan was arrested along with 214 others back in 2013 for their alleged involvement in an Ikhwan sit-in. The story received international coverage last year as Abu Zeid’s release was delayed despite serving his […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Foreigners caught smuggling 11 kg narcotics into Egypt
Foreign narcotics smugglers busted: A German woman and a Turkish man have been arrested on suspicion of smuggling 11 kg of narcotics into Egypt, Ahram Online reports. A prosecutor ordered that they be detained for four days for investigation. The Madbouly Cabinet recently approved the introduction of the death penalty for people caught trafficking narcotics.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.50 | Sell 17.60 EGP / USD at CIB: Buy 17.49 | Sell 17.59 EGP / USD at NBE: Buy 17.49 | Sell 17.59 EGX30 (Sunday): 15,199 (+1.4%) Turnover: EGP 1.4 bn (59% above the 90-day average) EGX 30 year-to-date: +16.6% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
19 February (Tuesday): Cairo Economic Court to deliver decision on pharma distributors appeal, Egypt. 19-20 February (Tuesday-Wednesday): The Solar Show MENA 2019, Nile Ritz Carlton Hotel, Cairo, Egypt. 23 February (Saturday): The Supreme Administrative Court will rule in an appeal by Uber and its competitor Careem against a lower court ruling ordering the suspension of […]
Posted inWhat We're Tracking Today
What we’re tracking on 17 February 2019
The story of the morning: What does Thursday’s surprise interest rate cut really mean? We have lots on this front in today’s Speed Round, below. The judiciary is going to play an outsized role in business sentiment this week. The Cairo Economic Court is due to deliver on Tuesday a decision on an appeal by […]
Posted inEnterprise+: Last Night’s Talk Shows
Munich Security Conference in the limelight on Egypt’s talk shows
The Munich Security Conference was the highlight of last night’s talk shows, with Hona Al Asema’s Lama Gebril (watch, runtime: 03:44 and runtime: 12:01) and Masaa DMC’s Eman El Hosary recapping the key takeaways from President Abdel Fattah El Sisi’s speech (watch, runtime: 01:59). El Hekaya’s Amr Adib was more interested in the president’s meeting […]
Posted inSpeed Round
Central Bank of Egypt cuts interest rates by 100 bps in first MPC meeting in 2019
The Central Bank of Egypt cut its key interest rates by 100 bps on Thursday in a move that surprised pundits: Nine of 11 economists surveyed in our Enterprise poll ahead of the meeting had suggested that the MPC would leave the rates on hold. The central bank cited lower inflation and unemployment, higher growth […]
Posted inSpeed Round
House of Representatives approves in principle constitutional amendments
LEGISLATION WATCH- The House of Representatives approved in principle amendments to the constitution on Thursday and sent them to committee for review, according to Al Shorouk. In total, 485 of the general assembly’s 596 members voted in favor of the changes, comprising more than the required two-thirds majority. In addition to potentially extending President Abdel […]
Posted inSpeed Round
Eva Pharma becomes licensed distributor for Gilead in Africa as Egypt becomes expansion hub
Gilead and EvaPharma will use Egypt as a distribution and manufacturing hub to expand into Africa: Eva Pharma will become a licensed distributor for biotech and pharma giant Gilead Sciences’ products in Africa, CEO Riad Armanious said in a statement to the local press on Thursday. Armanious said Gilead has chosen Egypt to become the […]