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The CBE will issue in days guidelines for electronic payment companies looking to carry out electronic banking services as part of the country’s financial inclusion campaign, an unnamed CBE official told Al Mal. The guidelines will require interested companies to request a license from the CBE as Fawry Plus has already done, the source said. […]
Author Archives: enterpriseam admin
Posted inLaw
Matouk Bassiouny was legal counsel for CCI in recent USD 15 mn buyout
Matouk Bassiouny acted as sell-side advisor for Solvay Alexandria Sodium Carbonate (CCI) in the recent USD 15 mn buy-out of the company, the firm said yesterday. CCI was acquired by state-owned Egyptian Ethylene and Derivatives Company (Ethydco), Sidi Kerir Petrochemicals Company (SIDPEC) and the Egyptian Petrochemical Holding Company (ECHEM).
Posted inON YOUR WAY OUT
Mobile app Dawar wants to make a buck cleaning Cairo’s streets of garbage
** #7 Next time you spot garbage in Cairo, take out your phone and let Dawar know. Dawar is a new waste recycling mobile app that allows users to send pictures of garbage in the street to notify Dawar’s team, which promptly cleans up the area, reported Digital Boom. The app then notifies the user […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.97 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 13,264 (-2.5%) Turnover: EGP 733 mn (4% above the 90-day average) EGX30 year-to-date: -11.8% THE MARKET ON WEDNESDAY: The EGX30 index ended […]
Posted inCALENDAR
23-24 October (Tuesday-Wednesday): Intelligent Cities Exhibition & Conference 2018, Fairmont Towers Heliopolis, Cairo. 24-25 October (Wednesday-Thursday): 9th Arab-German Energy Forum, Cairo, Egypt. 25 October (Thursday): President Abdel Fattah El Sisi to visit Khartoum. 25-27 October (Thursday-Saturday): 57th ACI World Congress & 43rd ICA Annual Conference 2018, Four Seasons Nile Plaza, Cairo. 28 October (Sunday): 2018 […]
Posted inWhat We're Tracking Today
What we’re tracking on 24 October 2018
It’s a busy news day at home and relatively quiet morning abroad as this interminably long week limps to a close. (Not that it’s been a bad week — just strangely…long.) Groundwork for El Sisi’s visit to Khartoum: Foreign Minister Sameh Shoukry will be in Khartoum today for minister-level meetings to lay the groundwork for […]
Posted inEnterprise+: Last Night’s Talk Shows
Cairo Metro prices and Egypt’s “potato crisis” mark an otherwise uneventful night for talk shows
The airwaves had little to offer last night, with the talking heads busying themselves with metro ticket prices and a shortage of potatoes. The Transport Ministry is working on a new pricing scheme for the new Cairo Metro lines that will be launched soon, Deputy Minister Amr Shaat told Yahdoth fi Masr. The first and […]
Posted inSpeed Round
Has Egypt’s fall IPO season just come to an end?
** #1 The fall equity raising season is officially over. The state privatization program was not the only victim of the emerging markets selloff, according to Reuters’ Patrick Werr. At least three IPOs tentatively for the fourth quarter of this year have been postponed, according to an investment banker involved in one of the offerings. […]
Posted inSpeed Round
Egypt formally requests pushing back zero tariffs on EU car imports
** #2 EXCLUSIVE- Egypt has formally asked the EU for permission to delay 0% customs duties on car imports. The Trade and Industry Ministry has formally requested that Brussels allow Cairo to wait another 1-2 years before cutting to 0% the duties on European Union-assembled cars brought into Egypt. We confirmed the news with three […]