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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 (Thursday): 13,024 (-1.7%) Turnover: EGP 735 mn (4% above the 90-day average) EGX 30 year-to-date: -13.3% THE MARKET ON THURSDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
28 October (Sunday): 2018 Narrative PR Summit, Four Seasons Nile Plaza, Cairo. November: A delegation of French pharmaceutical and medical equipment companies is set to visit Egypt sometime in November to explore potential investments, according to a Trade Ministry statement. November: Look for the executive regulations governing Egypt’s new sovereign wealth fund to be released […]
Posted inWhat We're Tracking Today
Egyptian Exchange slumps as global share selloff sees US markets erase the year’s gains
** #4 We look set to end the week on a reasonably quiet note here at home — the EGX excepted. The benchmark EGX30 shed nearly 2.5% yesterday on moderate turnover, bringing its year-to-date return to -11.8%. Wednesday’s performance came as a global share sell-off sent the Nasdaq into correction territory (it’s down 12% from […]
Posted inWhat We're Tracking Today
What we’re tracking on 25 October
President Abdel Fattah El Sisi is in Khartoum today for talks with his Sudanese counterpart, Omar Al Bashir. Egypt and Sudan are expected to sign a final agreement for on a 630 km railway line connecting the two countries, Sudan’s Transport Minister Hatem Al Ser said, according to Al Mal. Foreign Minister Sameh Shoukry flew […]
Posted inEnterprise+: Last Night’s Talk Shows
A pleasantly quiet night on the airwaves
It was an pleasantly quiet night on the airwaves with both Hona Al Asema and Al Hayah Al Youm off for the evening. The Tourism Ministry has lifted restrictions on umrah and will be accepting year-round applications, the head of the ministry’s religious tourism committee Hisham Amin told Sherif Amer on Yahdoth fi Masr(watch, runtime: […]
Posted inSpeed Round
Egypt competition watchdog warns Uber and Careem of fines up to EGP 500 mn each in case of merger
** #1 Competition watchdog warns Uber and Careem of fines up to EGP 500 mn each in case of merger: The Egyptian Competition Authority (ECA) has sent another sharp, unprecedented warning to ride-hailing companies Uber and Careem that they could be fined up to EGP 500 mn each if they go through with a merger […]
Posted inSpeed Round
Capital Economics sees Egypt growth accelerating — and likes the idea of letting the EGP slide a bit through 2020
** #2 Capital Economics sees Egypt growth accelerating — and likes the idea of letting the EGP slide a bit through 2020. Capital Economics sees Egypt’s GDP growth accelerating to 5.5-6% between 2018-2020, up from 5.0% last year, “as inflation falls, interest rates are cut and the pace of austerity slows.” Egypt has been the […]
Posted inSpeed Round
Egypt real estate giants SODIC, MNHD release operational updates as they push ahead with merger
** #3 M&A WATCH- Real estate giants SODIC and MNHD release operational updates. The two players in what we believe is Egypt’s largest-ever domestic merger issued operational updates yesterday as the transaction chugs toward a potential end-of-year close: SODIC sees net contracted sales growing 14% y-o-y 2018: SODIC is anticipating net contract sales rising 14% […]
Posted inSpeed Round
Sale of Egypt’s Eastern Company to take place as soon as market conditions improve -Public Enterprise Minister
** #5 IPO WATCH- Eastern sale to take place as soon as market conditions improve: The sale of an additional 4.5% stake in the Eastern Tobacco Company on the EGX will take place as soon as stock market conditions improve, Public Enterprise Minister Hisham Tawfik said yesterday, denying our exclusive report from earlier this week […]