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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): 15,273 (-0.2%) Turnover: EGP 249 mn (71% BELOW the 90-day average) EGX 30 year-to-date: +1.7% THE MARKET ON SUNDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
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 16 August 2018
We’re practicing economics without a license, but what the hell — it’s not a bad note on which to start a nearly weeklong vacation: It’s interest rate day and the consensus among 12 analysts polled by Reutersis that the central bank’s Monetary Policy Committee will leave interest rates on hold. Yes, inflation cooled, but the […]
Posted inEnterprise+: Last Night’s Talk Shows
Maait turns to the airwaves to dispel misconceptions about the real estate tax
The highlight of last night’s talk shows on an otherwise humdrum evening was Finance Minister Mohamed Maait discussing everything from misconceptions about the real estate tax to the government’s shift towards digital platforms. The real estate tax is not new: Maait all but waved a giant flag emblazoned with the words “This is not a […]
Posted inSpeed Round
Unemployment rate drops to 9.9% in 2Q2018, down from 10.6% in 1Q2018
Unemployment dropped to 9.9% in 2Q2018, down from 10.6% in the first quarter of the year, CAPMAS announced in its quarterly report yesterday. The overall labor force decreased 0.5% to 29.0 mn people in 2Q2018, down from 29.2 mn in the previous quarter. While the gap between female and male unemployment remained wide at 21.2% […]
Posted inSpeed Round
Al Mansour becomes exclusive distributor for MG in Egypt, to invest EGP 400 mn by 2022
INVESTMENT WATCH- Mansour becomes exclusive distributor for MG in Egypt, to invest EGP 400 mn by 2022: Mansour Group’s Al Mansour Automotive signed an agreement with SAIC Motors that will see it become the exclusive local agent for the company’s UK subsidiary MG Motors, according to Al Shorouk. The company intends to invest EGP 400 […]
Posted inSpeed Round
Saudi’s Elaj in advanced talks to acquire majority stake in TechnoScan labs
M&A WATCH- Saudi’s Elaj in advanced talks to acquire majority stake in TechnoScan: Saudi Arabia’s Elaj Group is reportedly in advanced talks with Gulf Capital to acquire its 75% stake in medical diagnostic imaging chain TechnoScan, sources close to the matter tell Al Mal. The transaction is expected to be final by the final quarter […]
Posted inSpeed Round
We’re on track to begin natgas exports in January, says El Molla
We’re on track to begin natgas exports in January: Egypt is set to begin exporting natural gas as of January 2019, by which time we will have reached self-sufficiency, Oil Minister Tarek El Molla tells El Watan. Egypt’s final imported LNG cargo is planned for September 2018, meaning gas imports are officially coming to an […]
Posted inSpeed Round
Hotel occupancy rates in Hurghada, Sharm, Alexandria to rise from July-September -Colliers
Hotel occupancy on the rise: Hotel occupancy rates in Sharm El Sheikh, Hurghada, and Alexandria are expected to rise from July to September, Colliers International said in a report on MENA hotels (pdf). The report forecasts hotel occupancy rates in Sharm El Sheikh to 64% during the three-month period on the back of “relatively relaxed” […]