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Did EgyptAir briefly force closure of Belgrade runway? Serbia’s Belgrade airport was temporarily closed after at least two tires on an EgyptAir jet allegedly burst after what could have been a hard landing, blocking the airport’s only runway for several hours, the Associated Press reports. Airport officials said that “thousands of passengers were stranded” as […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,488 (-0.9%) Turnover: EGP 872 mn (9% above the 90-day average) EGX 30 year-to-date: +3.1% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 16 September (Sunday): Creative Industry Summit 2018, Four Seasons Nile Plaza, Cairo. 17-19 September (Monday-Wednesday): INTERCEM Cairo to Cape Town cement industry conference, Dusit-Thani LakeView, Cairo. 18-21 September (Tuesday-Friday): The Big 5 Construct Egypt, Egypt International Exhibition Center, Cairo, Egypt. 18 September […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 September 2018
**#4 SWF manager wanted: The Madbouly government is advertising for a manager to take over the EGP 200 bn Egypt sovereign wealth fund, according to an advertisement placed on page 4 of yesterday’s Financial Times (image below, tap the image or click here for larger view). The application deadline is 27 September. Baker McKenzie, Sarie […]
Posted inWhat We're Tracking Today
More what we’re tracking on 12 September 2018
**#3 EARLY MORNING NEWS ALERT: President Abdel Fattah El Sisi issued a decision early this morning approving changes to customs duties on a range of items, according to Al Shorouk, which appears to be the only publication to have so far picked up the news. These include setting a 20% tariff on all imports by […]
Posted inWhat We're Tracking Today
An iPhone X costs 133 days of work in Cairo, 4.7 in Zurich.
Apple will unveil its fall 2018 lineup starting at 7pm CLT today. Expect a trio of new iPhones, a new Apple Watch and possibly new iPads and new Macbooks. Axios has the rundown on what to expect, and the Financial Times has five things to look for. You can watch Apple's live stream of the […]
Posted inEnterprise+: Last Night’s Talk Shows
EMG announces acquires 51% of Future Group Holding
Our daily talk show report will be back on Sunday. We hope to have updates before then on the status of Lamees Al Hadidi and Hona Al Asema — she’s still MIA. Talk-show-related M&A WATCH- CBC has a new owner: Egyptian Media Group (EMG) has acquired a 51% stake in Future Group Holding (FGM), which […]
Posted inSpeed Round
Is Egypt at risk of another “full-blown” FX crisis?
**#1 Is Egypt at risk of another “full-blown” FX crisis? Egypt is one of seven countries that face the risk of a foreign currency crisis, Bloomberg says, citing recent research from the by Japan’s Nomura Holdings. Argentina, Turkey, South Africa, Ukraine, Sri Lanka, and Pakistan are also on the list of risk-prone countries identified using […]
Posted inSpeed Round
Egypt cancels second T-bond sale this month due to high yields
**#2 Egypt cancels second T-bond sale this month due to high yields: Egypt canceled a sale of EGP 3.5 bn worth of five- and 10-year instruments on Monday, according to central bank data, with sources telling Al Mal that high yields on demand were behind the decision. Investors reportedly requested yields ranging from 18.90-18.95%, with […]