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EGP / USD CBE market average: Buy 17.84 | Sell 17.94 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Monday): 15,297 (-0.5%) Turnover: EGP 529 mn (42% below the 90-day average) EGX 30 year-to-date: +1.9% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
05 August (Sunday): Egypt’s PMI reading for July released. 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, […]
Posted inWhat We're Tracking Today
What we’re tracking on 29 July 2018
Bloomberg and the Financial Times think we’re looking at a busy week ahead before the August news slowdown — the Fed meets on interest rates on Wednesday, the Bank of England follows suit on Thursday, and companies ranging from Apple to Caterpillar report their earnings from today through Friday. But it feels as if Egypt […]
Posted inEnterprise+: Last Night’s Talk Shows
Second day of the National Youth Conference captures talking heads’ attention
The second day of the National Youth Conference — which we cover in today’s Speed Round, below — continued to capture the attention of the talking heads. Education reforms will come to fruition next year: President Abdel Fattah El Sisi’s decision to make 2019 the ‘year of education’ reflects the state’s intention to focus its […]
Posted inSpeed Round
Gov’t plans to scrap Automotive Directive and will replace it with special zones
EXCLUSIVE- Gov’t plans to scrap automotive directive, looks to replace it with special economic zones: The Madbouly Cabinet has decided to scrap the automotive directive — the long awaited government strategy to grow the domestic auto industry by granting local assemblers incentives to move further up the value chain to manufacturing. Background: The Automotive Directive […]
Posted inSpeed Round
Misr Life Insurance to list on the EGX in 1Q2019
IPO WATCH- Misr Life Insurance plans to list on the EGX in 1Q2019: It looks like state owned Misr Life Insurance could be part of the second wave of the state privatization program, according to remarks attributed to company chairman Ahmed Abdel Aziz. He said the company is working on plans that will see it […]
Posted inSpeed Round
Fifth IMF loan tranche to be disbursed in early 2019 -Maait
Egypt is expected to receive the fifth tranche of its USD 12 bn extended fund facility from the IMF in early 2019, Finance Minister Mohamed Maait told Al Mal yesterday. An IMF delegation is scheduled to visit in November to conduct a fourth review of the economic reform agenda ahead of disbursing the tranche. Egypt […]
Posted inSpeed Round
EBRD has dibursed EUR 600 mn in financing in 1H2018
The European Bank for Reconstruction and Development (EBRD) has already extended some EUR 600 mn of the USD 1.4 bn in financing it has earmarked for Egypt in 2018, Managing Director for the Southern and Eastern Mediterranean Janet Heckman said yesterday. (We believe the newspaper in question is off on its choice of currency for […]
Posted inSpeed Round
Sarie-Eldin, PwC, Baker Mckenzie selected to advise cabinet on governing regulations for EGP 200 bn sovereign wealth fund
Sarie-Eldin, PwC, Baker Mckenzie selected to advise cabinet on regulations governing EGP 200 bn sovereign wealth fund: The Madbouly Cabinet has entered into an agreement with a consortium of firms including Sarie-Eldin & Partners, PricewaterhouseCoopers and Baker McKenzie to advise on the establishment of the framework and governing structure of Egypt’s EGP 200 bn sovereign […]