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EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 15,480 (+1.2%) Turnover: EGP 760 mn (19% below the 90-day average) EGX 30 year-to-date: +3.1% THE MARKET ON TUESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
26-28 July (Thursday-Saturday): Green Banking: The Road to Sustainable Development, Baron Palace, Sahl Hasheesh, Hurghada. 30 July (Monday): Finance Minister Mohamed Maait will address the American Chambers of Commerce on Egypt’s financial reform agenda. 05 August (Sunday): Egypt’s PMI reading for July released. 16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid […]
Posted inWhat We're Tracking Today
What we’re tracking on 23 July 2018
We hope your Revolution Day was as nice as ours, something we largely attribute to the four-day bridge we took. Now, enough gloating and on to what you may have missed over the weekend. President Abdel Fattah El Sisi is set to inaugurate today the three 14.4 GW Siemens combined-cycle power plants in Burullus, Beni […]
Posted inEnterprise+: Last Night’s Talk Shows
A humdrum night on the airwaves commemorating 23 July
It was a humdrum night on the airwaves, with the expected inauguration of the Siemens 14.4 GW power plants and the Gabal El Zeit wind farm being the most noteworthy topic of discussion. The Siemens combined cycle plants will raise Egypt’s energy supply by some 25% and will cover the country’s electricity needs, including households […]
Posted inSpeed Round
Gov’t unveils timeline of first wave of state privatization program
Gov’t unveils timeline of first wave of state privatization program: Public Enterprises Minister Hisham Tawfik unveiled the timeline for the initial wave of five companies that will see a stake sale as part of the government privatization program. Heliopolis for Housing and Development and Eastern Company will kick off the program with stake sales in […]
Posted inSpeed Round
Natural gas prices for household and industry to rise by 30-75% as of 1 August
Natural gas prices for household and industry to rise by 30-75% as of 1 August: The Madbouly Cabinet decided on Saturday to raise the prices of natural gas for household and industrial users by 30-75% as of 1 August, pressing ahead with plans to gradually phase out subsidies under the IMF-backed economic reform program, according […]
Posted inSpeed Round
Hassan Allam Utilities and Lightsource BP form solar energy JV
FIRST LOOK- Hassan Allam Utilities and Lightsource BP form solar energy JV: Hassan Allam Holding subsidiary Hassan Allam Utilities (HA Utilities) will form a joint venture with global solar energy developer Lightsource BP that will fund, develop and operate solar energy projects in Egypt, the two parties said in a statement (pdf) out this morning. […]
Posted inSpeed Round
EEHC to sign final contracts for Hamrawein coal power plant in September
Hassan Allam to sign final contracts for Hamrawein coal power plant in September: In other Hassan Allam news, a consortium made up of Hassan Allam Construction, and China’s Shanghai Electric and Dongfang Electric will reportedly sign in September the final contracts for the 6 GW Hamrawein ‘clean coal’ power plant with the Egyptian Electricity Holding […]
Posted inSpeed Round
EFG acquires 100% of Nigerian brokerage firm Primera Africa
M&A WATCH- EFG acquires 100% of Nigerian brokerage firm Primera Africa: Our friends at EFG Hermes announced on Thursday signing a sale and purchase agreement for 100% of the Lagos-based Primera Africa. Primera, which offers a range of brokerage and research services to international investors, will begin operating under the EFG Hermes brand name once […]