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EGP / USD CBE market average: Buy 17.86 | Sell 17.95 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Wednesday): 13,507 (+0.2%) Turnover: EGP 691 mn (14% below the 90-day average) EGX 30 year-to-date: +3.6% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
28-29 January (Wednesday-Thursday): Banking Technology North Africa, Nile Ritz Carlton Hotel, Cairo, Egypt. 03 February (Sunday): Cairo court to hear lawsuit against Peugeot Citroen. 05 February (Tuesday): Egypt’s Emirates NBD PMI for January released. 07 February (Thursday): Egypt Building Materials Summit, Venue TBD, Cairo, Egypt 11-13 February (Monday-Wednesday): Egypt Petroleum Show, Egyptian International Exhibition Center, […]
Posted inWhat We're Tracking Today
What we’re tracking on 23 January 2019
Rejoice, for it is the last business day of the week: Banks and the stock market are closed tomorrow, as are government offices, in observance of the 25 January national holiday, which falls this year on Friday. We’re off tomorrow and will be back in your inboxes at the usual time on Sunday morning. Expect […]
Posted inEnterprise+: Last Night’s Talk Shows
Books and Davos talks lead discussions on the airwaves last night
With the Cairo International Book Fair continuing to dominate the airwaves, last night’s talk shows did not have much to offer by way of exciting news. The book fair is important for culture in Egypt and the region as a whole, veteran writer Sekina Fouad stressed to Al Hayah Al Youm’s Lobna Assal (watch, runtime: […]
Posted inSpeed Round
Apple eyeing investments in Egypt
INVESTMENT WATCH- Is Apple mulling an investment in Egypt? Apple Inc is interested in learning more about investment opportunities in Egypt, CEO Tim Cook told Prime MinisterMoustafa Madbouly on Tuesday on the sidelines of the World Economic Forum in Davos, according to an Investment Ministry statement. Cook said the company is open to cooperating with […]
Posted inSpeed Round
Central Bank of Egypt committed to liberalized FX market, EGP will see volatility natural, Amer says
We’re going to see more volatility in the EGP exchange rate, central bank’s Amer says: You can expect to see the long-stable EGP move around a bit against key currencies after the scrapping of a parallel central bank mechanism that guaranteed foreign investors could repatriate FX, CBE Governor Tarek Amer told Bloomberg yesterday. The CBE […]
Posted inSpeed Round
Egypt’s GDP will fall slightly over the next two years, UN says
Egypt’s GDP growth rate will slow slightly over the next two years, hitting 5.2% in 2019 before falling to 4.7% in 2020, the United Nations projects in its 2019 World Economic Situation and Prospects report. Take UN estimates with a pinch of salt: The UN now estimates the Egyptian economy grew by 5.8% in 2018, […]
Posted inSpeed Round
Orascom signs sewage treatment agreement with Dammam plant
Consortium including Orascom Construction to build sewage treatment plant in KSA: A consortium including our friends at Orascom Construction along with water supply management company Metito and desalination company MOWAH have signed a sewage treatment agreement in Dammam, Saudi Arabia, according to an emailed statement (pdf). The plant, which will be constructed under a build-own-operate-transfer […]
Posted inSpeed Round
Lactalis-Halawa acquires 100% of Egyptian cheesemaker Greenland
M&A WATCH- Lactalis-Halawa acquires 100% of Greenland: The domestic partner of French dairy group Lactalis, Lactalis-Halawa Group, has acquired 100% of Americana Group subsidiary Greenland Group, a source with knowledge of the matter confirmed to Enterprise. The transaction, which our source confirms has been executed, valued Greenland at EGP 890 mn, according to Al Mal. […]