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Did you miss the results yesterday of our 2019 Enterprise Reader Survey? Almost half of you have had a good year doing business in Egypt, while around 40% of you have had the opposite experience. Half you think that business conditions will improve next year, while the number of pessimists among you has more than […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
More what we’re tracking on 18 December 2018
The Financial Regulatory Authority is expected to rule on 23 December on Beltone Financial’s appeal of a six-month suspension handed to its investment banking arm, Beltone attorney Osman Mowafi said yesterday after the FRA heard the firm’s argument. The closely watched case could have wide impact on everything from how bookbuilding (the process of figuring […]
Posted inEnterprise+: Last Night’s Talk Shows
Last night’s talk shows on 18 December 2018
Our nightly talk show report is on hiatus this morning and will be back tomorrow.
Posted inSpeed Round
Egypt “paving the way” for a weaker EGP with simplified FX policy -Capital Economics
Egypt “paving the way” for a weaker EGP with simplified FX policy, says Capital Economics: The EGP will likely weaken by end-2019 as policymakers work to “simplify the country’s exchange rate setup,” Capital Economics said in a research note out yesterday. Recent moves by the Finance Ministry and CBE including scrapping the discounted customs exchange […]
Posted inSpeed Round
Egypt’s real estate looking up with 44% annual jump in pre-sales
Real estate slowdown? What real estate slowdown? For some months now, conventional wisdom has held that the top end of the real estate market has looked choppy as analysts have pointed to easier sales terms including low (or no) down payments and longer payment terms. But sales at eight listed real estate developers surged 44% […]
Posted inSpeed Round
Gov’t denies reports suggesting bank accounts of tax cheats would be frozen
Gov’t says it has no plans to freeze the bank accounts of tax evaders: Cabinet said in a statement that it is not mulling a move that would grant the Finance Ministry power to freeze the bank accounts of suspected tax evaders. After having reached out to the Finance Ministry, the cabinet said no such […]
Posted inSpeed Round
Egypt’s BMW agent said to be considering sale to Egypt, Arab investors
BMW agent in Egypt considering sale? Bavarian Auto Group, the exclusive agent in Egypt for BMW automobiles, may be looking to shop itself to investors in 2019 according to an unconfirmed report in Al Mal that cites unnamed sources. The daily claims that an unnamed financial advisory firm is working on a fair value report […]
Posted inSpeed Round
Egypt’s CIB sets up VC arm CVentures to invest in fintech startups
CIB launches corporate venture capital arm: Our friends at CIB have launched a captive venture capital arm, CVentures, to invest in fintech startups. The new activity is primarily interested in series ‘A’ and ‘B’ rounds and will selectively invest in seed rounds, with a footprint expanding from Egypt to the wider as well as the […]
Posted inSpeed Round
Foreign oil and gas companies in Egypt to increase investments to USD 11 bn
INVESTMENT WATCH- Investment in Egypt by global oil majors is on track to rise c. 10% this fiscal year, unnamed industry sourcestold the local press. Total investment by global exploration and production companies should close the state’s 2018-19 fiscal year at c. USD 11 bn against USD 10 bn a year ago in part thanks […]