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05 February (Tuesday): Egypt’s Emirates NBD PMI for January released. 07 February (Thursday): Egypt Building Materials Summit, Nile Ritz Carlton, Cairo, Egypt 11-13 February (Monday-Wednesday): Egypt Petroleum Show, Egyptian International Exhibition Center, Cairo. 14 February (Thursday): Central Bank of Egypt’s monetary policy committee meets to review interest rate. 19 February (Tuesday): The Cairo Economic Court […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 4 February 2019
** Our Enterprise 2019 CEO Poll continues this morning as we touch base with some of Egypt’s leading CEOs about the questions that will define the coming 12 months across all industries. Our conversations replace our industry news roundups, which will return next week. The format: Each CEO answered roughly the same set of questions, […]
Posted inEnterprise+: Last Night’s Talk Shows
Cooperation with Germany, proposed constitutional amendments in the limelight on talk shows
Proposed constitutional amendments and our relationship with Germany were in the limelight on last night’s talk shows. We have the full details on both stories in this morning’s Speed Round, below. The German delegation currently in town is one of the biggest to visit Egypt, and was likely encouraged to kick the tires in Omm […]
Posted inSpeed Round
House moves forward constitutional amendments to give El Sisi more years
House agrees to consider constitutional amendments to extend presidential term to six years: House Speaker Ali Abdel Aal called for a general assembly meeting yesterday to look into the proposed constitutional amendments that could lengthen presidential terms to six years, up from a current four, Ahram Gate reports. This came after a fifth of the […]
Posted inSpeed Round
House grants preliminary nod to new banking tax treatment
LEGISLATION WATCH- House grants preliminary nod to new tax treatment of bank holdings of state treasuries: The House’s general assembly gave its preliminary approval to proposed amendments to the Income Tax Act that would change how banks and corporations account for income from investments in government debt, Youm7 reports. The measure will force banks and […]
Posted inSpeed Round
Egypt’s short-term USD debt down by USD 3.25 bn to USD 14 bn
Egypt’s short-term USD debt down by USD 3.25 bn to USD 14 bn: The government used part of proceeds from the sale of treasury bonds to settle USD 3.25 bn-worth of short-term USD-denominated debt, Vice Minister of Finance Ahmed Kouchouk said, adding that total outstanding figure stood at USD 14 bn by December-end, according to […]
Posted inSpeed Round
Deutsche Bank sees potential rate cut in March, but sees Egypt missing fiscal deficit targets this year
Deutsche Bank sees potential rate cut in March: The Central Bank of Egypt is likely to keep interest rates on hold throughout 1Q2019, but a “100 bps rate cut cannot be ruled out” in March, Deutsche Bank said in a research note out on Friday. “Given the upside risks to inflation stemming from further subsidy […]
Posted inSpeed Round
Hassan Allam, TAQA complete construction of EGP 1.35 bn Benban solar plant
EXCLUSIVE- Hassan Allam-TAQA consortium to start operations this month at EGP 1.35 bn Benban solar plant: Hassan Allam Utilities and Qalaa Holdings subsidiary TAQA Arabia have completed construction on their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex, a source close to the matter told us. The plant is now connected […]
Posted inSpeed Round
Infinity Solar’s 1,400 MW projects, Egypt’s NREA reviews three tender bids
INVESTMENT WATCH- Infinity Solar in talks with int’l banks for funding for 1,400 MW projects: Renewable energy player Infinity Solar is in negotiations with two international banks for up to USD 1.2 bn financing for projects with a total generation capacity of 1,400 MW, a company exec told Al Mal. The executive did not name […]