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EGP / USD CBE market average: Buy 17.86 | Sell 17.96 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,751 (-1.1%) Turnover: EGP 816 mn (0% below the 90-day average) EGX 30 year-to-date: +4.9% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 11 September (Tuesday): Islamic New Year (TBC), national holiday. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 05 September 2018
** We’re trying something new this morning: Longtime readers know that you can no longer tap or click the headline in our tl;dr above in the email edition and zip down to the story in question. This used to work in email (and still does in our web edition) — then the nice people at […]
Posted inEnterprise+: Last Night’s Talk Shows
Crowding out of private sector behind decline in building materials prices?
No single topic dominated airtime last night, though the economy did feature prominently on the airwaves, including a discussion on Hona Al Asema with EFG Hermes’ Mohamed Abu Basha on the improvement in the PMI. We have the full coverage in the Speed Round below. (China also features prominently, but again, nothing new to report) […]
Posted inSpeed Round
Is debt control now the most significant fiscal policy of the Madbouly Cabinet?
** #1 Managing the public debt is now at the top of the Madbouly Cabinet’s fiscal priority list. Finance Minister Mohamed Maait confirmed his ministry plans to set a limit on foreign borrowing, including from major foreign institutions. While he did not reveal specifics, Maait stressed at the opening day of a Euromoney conference in […]
Posted inSpeed Round
AfDB to disburse USD 500 mn loan tranche in coming days
AfDB to disburse third USD 500 mn tranche of loan: Speaking of foreign borrowing, Egypt can expect receipt within days of a third and final USD 500 mn tranche of a USD 1.5 bn loan from the African Development Bank (AfDB), the bank’s country manager for Egyopt, Malinne Blomberg, said yesterday on the sidelines of […]
Posted inSpeed Round
State privatization program to kick off in October, Maait says
** #2 The state privatization program is on track to kick off in October, Finance Minister Mohamed Maait told the press yesterday, Al Mal reports. Two already-listed companies will sell additional shares on the EGX next month, Maait added, with three others set to follow before the end of the year. The government is hoping […]
Posted inSpeed Round
Business conditions improve again in August as PMI advances to its highest level since 2015
** #3 Business conditions improve again in August –PMI: Business conditions continued to improve in August, with the headline Emirates NBD PMI compiled by Markit rising to its highest level since September 2015. The index rose to 50.5 in August, up from 50.3 in July, as a result of “new orders rising for the second […]
Posted inSpeed Round
SODIC-MNHD merger could be finalized this year, says B Investments’ Alaa Sabaa
** #5 M&A WATCH- SODIC-MNHD merger could be finalized this year, says B Investments’ Alaa Sabaa: The potential merger between leading real estate players SODIC and Madinet Nasr Housing and Development (MNHD) could be finalized before the year is out, B Investments founding partner Alaa Sabaa tells Al Mal. Talks over the potential merger — […]