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The US Senate passed a bill to honor Egypt's late President Anwar Sadat for his role in bringing peace to the Middle East, the Egyptian Embassy in Washington D.C said in a statement. The Anwar Sadat Centennial Celebration Act S266 awards the Congressional Gold Medal to Sadat “in recognition of his historic achievements and courageous […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.84 | Sell 17.94 EGP / USD at CIB: Buy 17.82 | Sell 17.92 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Sunday): 15,239 (-0.2%) Turnover: EGP 450 mn (47% BELOW the 90-day average) EGX 30 year-to-date: +1.5% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
28-29 August (Tuesday-Wednesday): CI Capital’s 5th Annual Egypt Equities Conference, Cape Town, South Africa. 04-05 September (Tuesday-Wednesday): Euromoney Egypt Conference 2018, Cairo. 10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 11 September (Tuesday): Islamic New Year (TBC), national holiday. 18 September (Tuesday): Cairo Economic Court to issue ruling on EGP […]
Posted inWhat We're Tracking Today
What we’re tracking on 26 August 2018
Welcome back, ladies and gentlemen — and welcome to the last real week of summer. A metric s*ton of news has unfolded in the week we’ve been on vacation, most of it either (a) in international news or (b) foreign media coverage of Egypt. We’ve boiled it all down to its essence for you this […]
Posted inEnterprise+: Last Night’s Talk Shows
Former diplomat’s arrest, militants clash with security in the Sinai, government tallying up tuk-tuks
The airwaves offered up a mixed bag of nuts on the final night of the long Eid break, with topics ranging from the arrest of a former diplomat, clashes with militants in the Sinai, and tuk-tuk regulation. Prosecutors on Friday ordered the 15-day detention of ex-diplomat Masoum Marzouk and six others on terror charges relating […]
Posted inSpeed Round
Central bank leaves interest rates unchanged
The Central Bank of Egypt left key interest rates unchanged at its Thursday, 16 August meeting. The widely expected move saw the bank leave its overnight deposit and lending rates on hold at 16.75% and 17.75%, respectively, with the main operation and discount rates also stable at 17.25%, the CBE said in a statement. Global […]
Posted inSpeed Round
FinMin seeks access to companies’ bank data under proposed amendments to the Income Tax Act
EXCLUSIVE- FinMin seeks access to corporate bank data under proposed amendments to the Income Tax Act: Forthcoming amendments to the Income Tax Act would allow the Finance Ministry to check up on company accounts to make sure they’re paying their income taxes, Tax Authority boss Emad Samy told Enterprise. The amendment will require discussion with […]
Posted inSpeed Round
Apache plans to raise Egypt investments to USD 1 bn a year
INVESTMENT WATCH- Apache plans to boost its investment in Egypt to an annual USD 1 bn, CEO John Christmann is reported to have said last week at a meeting with Oil Minister Tarek El Molla, according to a ministry statement carried by Al Mal. Apache is already eyeing new opportunities in Egypt under its current […]
Posted inSpeed Round
Egypt could be processing natural gas from Cyprus by 2022
Natural gas from Cyprus’ Aphrodite field could begin flowing into Egypt by 2022, according to comments attributed to Cypriot Energy Minister Giorgos Lakkotrypis last week by the Cyprus Mail. The plan, however, is contingent on talks between the Cypriot government and a consortium made up of Noble Energy, Israel’s Delek, and Royal Dutch Shell, who […]