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Helmy, Hamza & Partners, Baker McKenzie Cairo acted as the local legal counsel on the African Export-Import Bank’s (Afreximbank) USD 200 mn loan to the EGPC to to finance the expansion of state-owned MIDOR’s refinery, according to an email statement.
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.82 | Sell 17.92 EGP / USD at CIB: Buy 17.83 | Sell 17.93 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,863 (+0.6%) Turnover: EGP 860 mn (2% below the 90-day average) EGX 30 year-to-date: +5.6% THE MARKET ON WEDNESDAY: The EG30 ended […]
Posted inCALENDAR
05-09 August (Sunday-Thursday): CBE hosts 41st annual meeting of the Association of African central banks, Sharm El Sheikh, Egypt. 12 August (Sunday): Egypt’s Emirates NBD PMI reading for July released. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 8 August 2018
It’s the accidental diplomacy issue here at Enterprise, with the local press being largely preoccupied with foreign affairs as the business community (a) tends to its knitting during earnings season; (b) decamps to Sahel or (c) both, simultaneously. The biggest news on the diplomacy front: Sameh Shoukry’s very busy day in Washington, DC (see Diplomacy […]
Posted inEnterprise+: Last Night’s Talk Shows
Cabinet approves draft Data Protection Act
The Madbouly Cabinet’s approval of a draft Data Protection Act during its weekly meeting yesterday was the main topic of concern for the talking heads last night. We have all the details on the legislation and other key decisions taken by the Council of Ministers in Speed Round, below. The legislation is meant to improve […]
Posted inSpeed Round
FRA issues new regs on licensing of microfinance firms, sets minimum capital at EGP 15 mn
REGULATION WATCH- FRA issues new regs on licensing of microfinance providers, sets minimum capital at EGP 15 mn: The Financial Regulatory Authority (FRA) issued amendments yesterday to the regulations that govern the establishment and licensing of microfinance firms, Youm7 reports. Under new rules, microfinance outfits must have a minimum issued capital of EGP 15 mn […]
Posted inSpeed Round
Cabinet signs off on Data Protection Act
CABINET WATCH- The Madbouly Cabinet signed off yesterday on a draft Data Protection Act, which is meant to set the ground rules for the handling and processing of personal information online and otherwise, according to an official statement. The bill, which will be presented to the House of Representatives at the start of the fall […]
Posted inSpeed Round
Railway Authority to purchase equipment to measure health of railway track from Austria’s Plasser & Theurer under EUR 6.8 mn contract
Railway Authority to purchase equipment from Austria’s Plasser & Theurer under EUR 6.8 mn contract; will use the gear to to measure health of railway track: Egypt’s Railway Authority signed a EUR 6.8 mn agreement with Austria’s Plasser & Theurer yesterday to purchase the latter’s railway track surveying vehicle, the EM100U. The vehicle uses ultrasonic […]
Posted inSpeed Round
Is the government about to tap the private sector to run its retail outlets for subsidized goods?
Is the government looking to hire the private sector to run retail outlets for state-subsidized goods? The Supply Ministry is just a week away from finalizing the template of a contract that will outline its future partnerships with the private sector on the development and management of state-controlled food retail outlets, ministry spokesman Ahmed Kamal […]