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05-09 August (Sunday-Thursday): CBE hosts 41st annual meeting of the Association of African central banks, Sharm El Sheikh, Egypt. 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 […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 1 August 2018
Could Vodafone be pressured to sell its Egyptian arm? That’s the suggestion from Bloomberg, which speculates that incoming CEO Nick Read will be looking for ways to cope with “a weak share price [and] a fragile dividend” as it faces a potential “shake-up by US activist investor Elliott Management Corp,” which has reportedly built a […]
Posted inWhat We're Tracking Today
Qatar is now the top-performing stock market in the GCC
Qatar is now the top-performing stock market in the GCC: The Qatar Stock Exchange overtook Saudi Arabia as the GCC’s top-performing market, closing yesterday at its highest level since May last year, Reuters reports. The 1.5% jump in the index was led largely by banking stocks, indicating that the Qatari benchmark “has recovered all losses” […]
Posted inWhat We're Tracking Today
More of what we’re tracking on 1 August 2018
More charges brought against Abraaj’s Naqvi over bad cheques: Arif Naqvi, the founder of Dubai-based private equity firm Abraaj, is facing a new set of criminal charges, this time over alleged bad cheques worth c. USD 217.3 mn, according to Reuters. The case, which is set to be heard by a Sharjah court on 14 […]
Posted inEnterprise+: Last Night’s Talk Shows
Another mixed bag of nuts on the airwaves
The Finance Ministry appears to be bombarding the airwaves with explainers and primers on tax procedures and some of its policies. Among these, is a recently passed amendment to the Income Tax Act exempting taxpayers from interest on late fees, which Finance Ministry Advisor Osama Tawako says lis meant to ease the burden on taxpayers […]
Posted inSpeed Round
HyperOne looks towards 2019 listing
IPO WATCH- HyperOne mulling 2019 listing: Retail chain HyperOne is considering making its EGX debut by the end of 2019, founder and chairman Mohamed El Hawary tells Amwal Al Ghad in an interview. He provided no additional details on the size or timeline for the transaction, adding only that the group is pursuing a number […]
Posted inSpeed Round
EARNINGS WATCH: CIB, CI Capital, PHD, and Amer Group
EARNINGS WATCH- ‘Tis the season, ladies and gentlemen. Look for a flood of earnings reports from now through the mid-August filing deadline for 2Q/1H results before we all collapse into a heap and enjoy a very long Eid Al-Adha break. CIB posts record second-quarter earnings. Our friends at Egypt’s leading private-sector bank delivered a 31% […]
Posted inSpeed Round
EFG Hermes tops brokerage league tables for July
EFG Hermes topped the EGX’s brokerage league table for July with a market share of 28.1%, up from 16.5% in June, according to figures released by the EGX (pdf). HC Brokerage came next with a 6.2% market share, followed by Beltone (5.9%), CI Capital (6.0%), and Pioneers (4.3%).
Posted inSpeed Round
Gehan Saleh tapped to become Cabinet Economic Advisor
MOVES- Prime Minister Mostafa Madbouly has appointed Gehan Saleh as economic advisor to the Council of Ministers, according to an emailed statement (pdf). Saleh was previously dean of the College of International Transport and Logistics at the Arab Academy for Science, Technology, and Maritime Transport.