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EARNINGS WATCH- CIB posts record full-year 2018 earnings: Our friends at CIB delivered a 27% y-o-y increase in net income of EGP 9.6 bn in 2018 on revenues of EGP 20.4 bn, which rose 37%. CIB’s capital adequacy ratio also rose 6% y-o-y to 19.1%, which is above the minimum regulatory requirement. Commenting on the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Renaissance Capital appoints Nancy Adel Fahmy VP of Financial Services Research
MOVES- Renaissance Capital has appointed Nancy Adel Fahmy (LinkedIn) as vice president of financial services research, according to an emailed statement (pdf). Fahmy will be based in Cairo covering financials for Egypt, North Africa and the GCC. She joins after a 12-year run with Beltone.
Posted inSpeed Round
Orange Egypt, e-finance to provide digital services for gov’t
Orange Egypt and E-Finance to provide digital services for gov’t: Orange Egypt and E-Finance have signed a cooperation protocol to provide digital services, including pension and subsidy payments, for the government, Orange Egypt CEO Yasser Shaker told the domestic press. The move comes amid government efforts to push for digitalization and financial inclusion to boost […]
Posted inSpeed Round
Egypt court delays Peugeot Citroen CDCM case hearing to 17 March
COURT WATCH- Court delays hearing in EUR 150 mn lawsuit against Peugeot Citroen: A Cairo court has delayed to 17 March a hearing in a lawsuit by Arabian Investments, Development and Financial Investment Holding Co. (AIND) subsidiary Cairo for Development and Cars Manufacturing (CDCM) against Peugeot Citroen, according to a statement from AIND to the […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
Egypt Building Materials Summit takes place on Thursday at the Nile Ritz Carlton. The event brings together construction industry investors, developers, policymakers, service providers and consultants, and over a dozen of keynote speakers. Egypt will assume the presidency of the African Union on 10 February, according to an Ittihadiya statement. This year’s Egypt Petroleum Show […]
Posted inON THE FRONT PAGES
El Sisi administration’s efforts to reduce unemployment tops headlines
The El Sisi administration’s efforts to reduce unemployment and create jobs is on the front page of Egypt’s three main state-owned newspapers this morning (Al Ahram | Al Akhbar | Al Gomhuria). Al Ahram also takes note of Al Azhar Grand Imam Sheikh Ahmed El Tayeb’s attendance of an interfaith summit in Abu Dhabi with […]
Posted inTHE ENTERPRISE CEO POLL
Riad Armanious — chief executive officer, Eva Pharma
Riad Armanious leads one of the regional pharma industry’s fastest growing companies as he aims to transform his family’s company, founded in 1919 by his grandfather, from a regional generic manufacturing powerhouse into a research and development focused player. Armanious (LinkedIn) also serves the industry as a whole on trade associations and export councils and […]
Posted inTHE ENTERPRISE CEO POLL
Elwy Taymour — co-founder, group Chairman and CEO, Pharos Holding
Elwy Taymour is a veteran of the finance industry and the son of one of the man who helped create the sector on a hot August day in 1980, not long after President Anwar Sadat opened the door to private sector participation. With over 26 years in the industry under his belt at home and […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.62 | Sell 17.72 EGP / USD at CIB: Buy 17.62 | Sell 17.72 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Monday): 14,366 (+0.9%) Turnover: EGP 1.0 bn (19% above the 90-day average) EGX30 year-to-date: +10.2% THE MARKET ON MONDAY: The EGX30 ended Monday’s […]