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Egyptian authorities prevented an attack with a home-made bomb in Giza intended to target a security patrol on Friday, Reuters reports. There was no immediate claim of responsibility for the intended attack, but the Interior Ministry attributed it to the Ikhwan. Two policemen and three civilians reportedly suffered minor injuries when the device exploded during […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Syria’s ancient monuments photographed before the war
Syria’s indomitable archeological heritage survives the war: Feast your eyes on these stately photographs in The Washington Post of some of Syria’s most famous ancient monuments and quarters photographed by Kevin Bubriski. The austere black-and-white images capture the archeological sites and ordinary souks before the now-eight-year civil war kicked off.
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 (Thursday): 14,984 (+0.2%) Turnover: EGP 910 mn (3% above the 90-day average) EGX 30 year-to-date: +15.0% THE MARKET ON THURSDAY: 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 14 February 2019
It is interest rate day, and the consensus is clear: Expect rates to be left on hold. The central bank’s monetary policy committee meets today to decide on interest rates. Nine of 11 economists we polled on Monday believe that the Central Bank of Egypt will leave rates on hold. Fitch Solutions thinks the same, […]
Posted inEnterprise+: Last Night’s Talk Shows
A night of miscellany on Egypt’s airwaves
The airwaves were awash with miscellany last night, but had nothing to offer by way of interesting econ or business news. Egypt should work to “bridge gaps” with foreign media outlets, State Information Service boss Diaa Rashwan told Masaa DMC’s Osama Kamal (watch, runtime: 02:48). The Cabinet’s media center has been quashing rumors left, right, […]
Posted inSpeed Round
IMF praises Egypt’s commitment to reform program
Egypt again telegraphs it won’t be signing up for another IMF loan after drawing down the last of the current USD 12 bn facility: IMF Middle East and Central Asia Director Jihad Azour gave Egypt tubtubs as he met yesterday with Prime Minister Moustafa Madbouly and Central Bank of Egypt Governor Tarek Amer. Azour spoke […]
Posted inSpeed Round
Egyptian insurance market has “untapped potential”- Moody’s
Egyptian insurance market has “untapped potential,” ratings agency says: Egypt’s insurance market is loaded with “untapped potential,” Moody’s said this week as its PR blitz on Egypt continued. The credit rating agency predicted that the good times will continue to roll for the industry, forecasting revenues to “grow strongly and profitably” over the short to […]
Posted inSpeed Round
Cairo 3A to debut on EGX no later than 2020
IPO WATCH- Food manufacturer and distributor Cairo 3A is planning to make its EGX debut by no later than 2020, Al Mal reports, citing sources close to the company. Proceeds from the IPO will be earmarked to finance acquisitions, which include Pyramid Poultry, as well as production capacity expansions. We noted last month that Cairo […]