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The Central Bank of Egypt (CBE) has excluded retail-focused SMEs from its facilitated financing initiative in a bid to reroute funding to the service, agriculture, and manufacturing sectors, banking sources told Mubasher. Retailing SMEs currently account for the lion’s share of the initiative’s borrowers. The CBE’s initiative, launched in 2016, aims to extend as much […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Woman detained for BBC interview on Egypt’s disappearances released
A criminal court has ordered the release of a woman who was detained last year over a BBC report in which she claimed authorities tortured and disappeared her daughter, Ahram Online reported. Mona Mahmoud, who was charged with publishing false news, was released on Tuesday under the condition she’d report to a police station twice […]
Posted inNational Security
Egypt imposes curfew on parts near North Sinai’s Arish, Rafah
The government has imposed a curfew on areas around Arish and Rafah in Northern Sinai, excluding the international highway and Arish’s inner city as of yesterday, according to a ministerial decree published in the Official Gazette (pdf). The curfew will run from 7 pm to 6 am.
Posted inSports
Egypt scrapes narrow victory over Argentina in World Handball Championship
Hope springs eternal for Egypt in this year’s Handball World Championship, after scraping a narrow 22-20 victory over Argentina on Monday, reports Ahram Online. Having lost their first two games against Sweden and Qatar, respectively, the Pharaohs must now win against their forthcoming opponents, Hungary and Angola, if they are to avoid crashing out of […]
Posted inON YOUR WAY OUT
Egypt transforming area around Dendera Temple into outdoor museum
The Antiquities Ministry is turning the entrance of Qena’s Dendera Temple into an open-air museum, according to a statement. Artifacts at the entrance include engraved blocks, stone slabs and statues — all discovered in the surrounding areas. Some of the statues are those of ancient Egyptian goddess Hathor, god Bes and the falcon god Nekhbet […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.87 | Sell 17.96 EGP / USD at CIB: Buy 17.89 | Sell 17.96 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Tuesday): 13,447 (+0.8%) Turnover: EGP 600 mn (xx% BELOW / ABOVE the 90-day average) EGX 30 year-to-date: +3.2% THE MARKET ON TUESDAY: The […]
Posted inCALENDAR
13-16 January (Sunday-Wednesday): CI Capital’s third annual MENA Investor Conference, Four Seasons Nile Plaza, Cairo, Egypt. 17 January (Thursday): Talent in the Digital Era, Galleria40, Cairo, Egypt. 19 January (Saturday): Cairo Criminal Court scheduled hearing of Gamal and Alaa Mubarak’s stock market manipulation case. 20 January (Sunday): Cairo Court of Urgent Matters to hear an […]
Posted inWhat We're Tracking Today
What we’re tracking on 15 January 2019
Picking up where we left off yesterday: Concerns over the Chinese economy dominate headlines in the global business press. The country reported a 4.4% drop in exports in December — the lowest drop in two years according to the FT — a result largely attributed to the trade war with the US. A 7.6% drop […]
Posted inEnterprise+: Last Night’s Talk Shows
Energy, open-book exams and controversial hugs dominated airwaves
The first East Med Gas Forum that kicked off in Cairo yesterday (the full details of which we have in Speed Round, below) was in the limelight on the airwaves last night. The inclusion of the Israeli energy minister in the forum was apparently the subject of criticism, but Al Hayah Al Youm’s Khaled Abu […]