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Planning a fishing trip in Marsa Alam sometime soon? You’ll have to wait till September: Authorities have banned fishing in the Red Sea from February until September to “preserve the bio equilibrium,” General Authority for Fish Resources Development head Ayman Ammar tells Egypt Today. The decision will not lead to hikes in market prices as […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.88 | Sell 17.96 EGP / USD at CIB: Buy 17.87 | Sell 17.96 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Tuesday): 13,475 (-0.7%) Turnover: EGP 623 mn (22% below the 90-day average) EGX 30 year-to-date: +3.4% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
22-23 January (Tuesday-Wednesday): CI Capital’s third annual MENA Investor Conference, The Plaza, New York City, USA. 22-25 January (Tuesday-Friday): World Economic Forum (WEF) Annual Meeting, Davos-Klosters, Switzerland. 23 January (Wednesday) 50th Cairo International Book Fair. 25 January (Friday): Police Day, national holiday. 26 January (Saturday): Supreme Administration Court’s Uber / Careem appeal date, Egypt. 28-29 […]
Posted inWhat We're Tracking Today
What we’re tracking on 21 January 2019
The World Economic Forum gets underway in Davos this morning and runs through Friday. The theme: “Globalization 4.0: Shaping global architecture in the age of the fourth industrial revolution.” Yeah, yeah, we know. But still… Links you may want to consider: the agenda | live broadcast of select sessions | the WEF’s blog. Why you […]
Posted inEnterprise+: Last Night’s Talk Shows
Books, garlic and WhatsApp kept talking heads busy last night
The Cairo International Book Fair, WhatsApp, and garlic were among the topics keeping the talking heads busy last night. President Abdel Fattah El Sisi will inaugurate today the Cairo International Book Fair, which will run for 13 days, General Authority for Books Haitham El Hag boss told Al Hayah Al Youm’s Lobna Assal (watch, runtime: […]
Posted inSpeed Round
MENA banks are in for another difficult year
S&P expects Egyptian banks to lead the wider MENA region in loan growth this year despite sky-high interest rates. The ratings agency says Egyptian lenders will lead the Middle East, North Africa and Turkey (MENAT) region in 2019 with growth as high as 17% (admittedly from a low base). That far outstrips the regional average […]
Posted inSpeed Round
FinMin wants to impose stamp tax on social media ads of up to 20%
EXCLUSIVE- FinMin could impose stamp tax of up to 20% on social media ads: The Finance Ministry appears set to impose a stamp tax on social media and internet search ads and has completed drafting legislation to that effect, a senior ministry source told Enterprise. Companies running ads on social media companies, including Facebook and […]
Posted inSpeed Round
Egypt’s bourse changes criteria for EGX30 inclusion
REGULATION WATCH- EGX tweaks criteria for inclusion in the benchmark EGX30.The main change in the mechanism is in evaluating shares by trading volumes on a monthly basis, rather than on a bi-annual basis, the bourse said in a statement. A stock will be included in the EGX30 based on the number of months it is […]
Posted inSpeed Round
Orascom Construction adds USD 825 mn to its backlog in 4Q2018
Orascom Construction adds USD 825 mn to its backlog in 4Q2018: Our friends at Orascom Construction added USD 825 mn to their backlog in 4Q2018 through new awards, the company said in a statement. 60% of the new awards were in Egypt and Africa, while the rest were in the US. This addition brings the […]