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The agreements Egypt and France signed yesterday and French President Emmanuel Macron’s comments on Egypt’s human rights record were in the limelight on the airwaves last night. Macron extending “advice” to Egypt on its human rights situation was meant in a friendly context and is not indicative of hostility, political analyst and rights lawyer Hafez […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Why did the EGP gain against the greenback yesterday?
Connecting the dots: The EGP keeps strengthening, yields keep falling: The EGP continued rising against the USD this week, strengthening to a selling price of 17.70 to the USD from around EGP 18.00 last Wednesday. Simultaneously, yields on Egyptian three- and nine-months T-bills fell at Sunday’s auction to their lowest level since May of last […]
Posted inSpeed Round
Egypt picks banks, legal advisors for international bond issuances
Egypt picks banks, legal advisors for int’l bond issuances: The Finance Ministry has selected the investment banks that will advise on a both USD- and EUR- denominated eurobond issuances that will go to market before the current fiscal year ends in June, the ministry said in a statement. JP Morgan, HSBC, Goldman Sachs and Citibank […]
Posted inSpeed Round
Egyptian public debt unsustainable, says S&P
What’s the outlook for debt issuances in emerging markets as the Finance Ministry gets set to go on the road? The Finance Ministry’s announcement on advisors yesterday came as the global business press debates debt levels and prospects for new issuances across EM. Egypt, one of the more active EM issuers in the past two […]
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Egypt, France sign 40 agreements worth EUR 1.6 bn as Macron visit winds down; French president touches on human rights at presser
Egyptian and French officials signed 40 agreements worth EUR 1.6 bn during French President Emmanuel Macron’s visit to Egypt, according to an Investment Ministry statement (pdf). The agreements spanned infrastructure projects for the new administrative capital, electric vehicle production, education, economic and social development, healthcare, culture, women empowerment, energy, ICT, and MSMEs. Few details were […]
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Expat remittances rise 5.7% in 11M2018 to USD 23.3 bn
Remittances from Egyptians living abroad rose 5.7% in 11M2018 to USD 23.3 bn, from USD 22.1 bn during the same period last year, according to a central bank statement (pdf).
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Egypt to receive USD 1 bn in loans from Kuwait Fund
Egypt to receive USD 1 bn in loans from Kuwait Fund: The Kuwait Fund for Arab Economic Development will provide USD 1 bn in loans to Egyptian infrastructure projects over the next three years, fund director-general Abdulwahab Al Bader told Zawya. The funding is earmarked for specific electricity, water, transport, communications and irrigation projects. Kuwait […]
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EU plans to spend EUR 110 mn in Egypt this year
EU earmarks EUR 110 mn for Egypt this year: The EU has earmarked assistance worth EUR 110 mn for Egypt this year, EU Ambassador to Egypt Ivan Surkoš told the local press on Monday. The funding includes: EUR 75 mn for water and energy project studies; EUR 25 mn to upgrade schools and improve the […]
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FRA modifies board members criminal record rules
REGULATION WATCH- FRA amends rules on board members with criminal records; gives leasing and factoring companies six months to conform with new law. Companies regulated by the Financial Regulatory Authority have new rules governing board members with criminal records, Al Mal reports. Board members with criminal convictions may must now meet a separate definition of […]
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Egypt ranked 66 out of 180 in 2018 Environmental Performance Index
Egypt’s ranking in Yale environmental index surges to 66th from 104th: Egypt vaulted from being ranked 104 out of 180 countries in the Yale Center for Environmental Law and Policy’s 2018 Environmental Performance Index (EPI) to rank as number 66. Oddly enough, our air quality is apparently quite good overall by global standards. Egypt ranked […]