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Start Egypt, a UK-funded entrepreneurship and business development initiative, has just opened its first support center in Cairo, according to the British Embassy. The program, which took flight in November 2017, offers a GBP 2 mn grant and will also begin offering business startup support services such as incubation, mentorship, and legal advice through its […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.84 | Sell 17.94 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,357 (0.00%) Turnover: EGP 629 mn (27% below the 90-day average) EGX 30 year-to-date: +2.3% THE MARKET ON WEDNESDAY: The EGX30 index […]
Posted inCALENDAR
16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday. 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): […]
Posted inWhat We're Tracking Today
What we’re tracking on 15 August 2018
Its official folks, the CBE has declared (pdf) Monday 20 August-Thursday 23 August off for Eid Al Adha. The Labor Ministry has reportedly declared only Monday-Wednesday off as paid holiday, according to a statement yesterday picked up by Al Shorouk. Is the EGX looking into setting up an index to collect and track real estate […]
Posted inEnterprise+: Last Night’s Talk Shows
Fans to return to football matches; Rabaa’s five-year anniversary goes unnoticed
The Madbouly Cabinet approved yesterday allowing football fans to return to stadiums in September, Youth Minister Ashraf Sobhy confirmed at yesterday’s meeting. Audiences will be limited to a maximum of 5,000 people per game as a first step, according to Sobhy, who added that the move will be made possible through dedicated efforts from the […]
Posted inSpeed Round
Eni signs concession agreement to begin exploration at offshore Noor gas field
Eni signs concession agreement to begin exploration at offshore Noor gas field: Eni announced yesterday signing a new concession agreement with the Egyptian government to begin exploration activities at the offshore Noor gas field in the East Mediterranean, the company said in a statement (pdf). The USD 105 mn agreement will see Eni drill two […]
Posted inSpeed Round
Did Israel just back our quest to become the region’s premier energy hub?
Israel’s foreign ministry gave our quest to become the East Med’s gas export hub a huge pat on the back at the expense of Turkey. A classified report from Israel’s Foreign Ministry has recommended that Israel rely on exporting its natural gas to Europe through Egypt, rather than Turkey, according to Ynet News (Hebrew). According […]
Posted inSpeed Round
Is Egypt’s attraction to carry traders making it especially at risk from fallout from the Turkey crisis?
Is Egypt’s attraction to carry traders making it especially at risk from fallout from the Turkey crisis? The Institute of International Finance (IIF) sees Egypt as one of the emerging markets that will be impacted the most from the Turkish crisis contagion. In a report out on Tuesday (pdf), the IIF said that Egypt, South […]
Posted inSpeed Round
Cabinet postpones survey of country’s real estate assets to 2020
CABINET WATCH- The Finance Ministry will be postponing its survey and appraisal of the country’s real estate assets to December 2020 from 2018 under amendments to the real estate tax code approved by the Madbouly Cabinet at its weekly meeting yesterday. The move means to give the Tax Authority more time to conduct its review […]