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The Finance Ministry is working on drafting new legislation to regulate the work of auditors and accountants, head of the ministry’s government accounting department Emad Awad said yesterday, Al Mal reports. “The law would bring the regulation of these professions up to speed with regional best practices,” Awad said. He did not provide any further […]
Author Archives: enterpriseam admin
Posted inNational Security
Egypt, UK navies carry out joint exercise in Mediterranean Sea
Egyptian and UK naval forces carried out a joint training exercise in the Mediterranean Sea on Friday, Ahram Online reports.
Posted inON YOUR WAY OUT
Emirates opens new USD 3.6 mn lounge at Cairo Int’l Airport
Emirates Airlines opened its new USD 3.6 mn lounge at Cairo Airport on Thursday. Located in Cairo Airport’s Terminal 2, the lounge caters to first- and business-class, as well as platinum- and gold-level members of Emirates’ loyalty program, and can accommodate up to 152 passengers at a time according to Arabian Business.
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 (Thursday): 15,880 (-0.5%) Turnover: EGP 589 mn (40% below the 90-day average) EGX 30 year-to-date: +5.7% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
16 July (Monday): Cairo Court of Appeals to issue ruling on EGP 5.6 bn antitrust case against pharma companies including Ibnsina. 23 July (Monday): Revolution Day, national holiday. 26-28 July (Thursday-Saturday): Green Banking: The Road to Sustainable Development, Baron Palace, Sahl Hasheesh, Hurghada. 05 August (Sunday): Egypt’s PMI reading for July released. 16 August (Thursday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 July 2018
It’s a slow news day in Cairo as many of us scurry to the coast to squeeze in a long weekend as we approach “peak summer.” For new readers, peak summer is our shorthand for the long weekend many take some time around the 23 July holiday, propelling us into August when Sahel booms. It’s […]
Posted inEnterprise+: Last Night’s Talk Shows
Smoker’s delight
As a nation of smokers wakes up to news that their smokes are more expensive, it is not surprising that the talking heads transfixed by it. In fact, today’s talk show report is all about healthcare: From cancer sticks and hospitals to access to birth control and the Health Ministry’s decision to play the national […]
Posted inSpeed Round
Is the carry trade approaching a tipping point?
Is the carry trade approaching a tipping point? CBE data on the balance of payments in April indicated that the foreign holdings of Egyptian debt fell 1.25% m-o-m to EGP 375.5 bn — the first drop in foreign portfolio investments in 2018, according to the local press. As our friend EFG Hermes lead economist Mohamed […]
Posted inSpeed Round
MPs set to give Madbouly’s policy platform a ringing endorsement; committee report due to House today ahead of Sunday vote.
MPs set to give Madbouly’s policy platform a ringing endorsement; committee report due to House today ahead of Sunday vote. The ad hoc House of Representatives committee reviewing the Madbouly Cabinet’s policy program has given it a ringing endorsement, the committee’s deputy chair, Rep. Mahmoud El Sherif, said, according to Al Shorouk. The committee held […]