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The House Religious Affairs Committee has approved a draft law to regulate fatwas (religious edicts) issued by Dar Al-Ifta, according to Al Masry Al Youm. The committee will refer the bill to Parliament’s general assembly for a final review and vote.
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Government to set up specialized committee to oversee loans, grants to Egypt
The Madbouly government will form a specialized committee to monitor loans and grants given to Egypt, Finance Minister Mohamed Maait said, according to Al Mal. The House’s Economic Committee had recommended the move to the government as delays in the disbursals of several loans led to higher interest payments.
Posted inNational Security
Egypt, Jordan hold joint military drills
Egyptian military forces arrived yesterday in Jordan to participate in the joint military exercises “Aqaba-4,” which will run until 21 December, according to an Armed Forces statement. The drills included land and naval exercises to exchange military expertise between the two sides.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.95 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 12,664 (+1.5%) Turnover: EGP 914 mn (15% above the 90-day average) EGX 30 year-to-date: -15.7% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
December: The government will announce the second phase of its privatization program before year-end, Public Enterprises Minister Hisham Tawfik said. The committee overseeing the state privatization program is also scheduled to hold a meeting next month to look into how market conditions developed since the privatization program was put on ice. 11-13 December (Tuesday-Thursday): The […]
Posted inWhat We're Tracking Today
What we’re tracking on 11 December 2018
The EFG Hermes Egypt Day Summit gets underway today and runs through Thursday at the Four Seasons Nile Plaza. Chief executives at public and private companies as well as multinationals will gather tonight for the firm’s annual EFG Hermes Egypt CEOs Gala Dinner. Also attending are some of the most active investors in the Egyptian […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s headline inflation decelerates, Cabinet didn’t hike 95-octane petrol prices
Save for continuous coverage of the political developments in Paris, there was no single topic that featured heavily on the airwaves last night. The deceleration of headline inflation in November came on the back of the prices of food products falling or remaining stable, economist Mostafa Badra told Al Hayah Al Youm (we have the […]
Posted inSpeed Round
November inflation rates drop, sending stock market up
You may now (at least temporarily) rejoice: Headline inflation fell last month: Annual headline inflation dropped to 15.7% in November, down from 17.7% the previous month, falling back into the government’s targeted range of 13% (+/- 3%), statistics agency CAPMAS said. The drop was a result of a steep fall in the prices of vegetables […]
Posted inSpeed Round
Egypt’s interest rates remain the biggest hurdle for investments, says Emirates NBD’s Mark Haddad
Egypt’s economic progress is “remarkable,” but high interest rates remain the biggest hurdle to investment in the real economy, Emirates NBD Senior Portfolio Manager Marwan Haddad told Bloomberg TV. “It’s very tough for anyone sitting in Egypt to let go of a 20% return” by parking cash in banks and government instruments and instead choose […]