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Zaki Hashem & Partners advised state-owned MIDOR on its USD 1.7 bn agreement with Italy’s Technip as part of a USD 2.2 bn project to expand its refining capacity to 175k barrels of crude per day, sources tell us. The Oil Ministry secured a USD 1.2 bn loan from France’s Crédit Agricole, BNP Paribas, and […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Egyptian actress Amal Farid dies at age 80
Egyptian actress Amal Farid passed away in Cairo yesterday at age 80 after a years-long struggle with illness, Gulf News reports. Farid’s acting career began in the 1950s, with her 1954 role in “A Date with Happiness” alongside cinematic legend Faten Hamama being among her first major works. Her big break came in 1955, “when […]
Posted inON YOUR WAY OUT
Paul McCartney teases new album ‘Egypt Station’
Beatles frontman Paul McCartney teased the artwork for his upcoming album “Egypt Station” on social media yesterday. Little is known about the 76 year-old rocker’s ties to Egypt. Although he did paint a picture by the same name as the album back in 1999, NWI Times says.
Posted inON YOUR WAY OUT
Greek art installation makes its way to New Alamein City
“Umbrellas,” an art series by Greek sculptor George Zongolopoulos, has been installed in what is presumably the New Alamein City, which is currently under construction, according to Ekathimerini. “The project was commissioned by Dubai-based construction firm EMAAR, which became interested in the Greek artist’s work after seeing it featured in an article.”
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.81 | Sell 17.91 EGP / USD at CIB: Buy 17.78 | Sell 17.88 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 16,068 (-0.9%) Turnover: EGP 854 mn (20% BELOW the 90-day average) EGX 30 year-to-date: +7.0% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
25 June (Monday): Egypt plays against Saudi Arabia at 2018 World Cup, Volgograd, Russia. 28 June (Thursday): CBE’s Monetary Policy Committee meeting. 1 July (Sunday): Application deadline for the DigitalAG4Egypt Challenge. 23 July (Monday): Revolution Day, national holiday. 16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday. […]
Posted inWhat We're Tracking Today
What we’re tracking on 19 June 2018
Aaaaand … we’re back: We returned from our four-day furlough to find a new cabinet, fuel prices up 50%, Abraaj filing to restructure, heightened prospects of a global trade war, and a World Cup full of surprises. It’s not at a bad way to welcome the long, hot days of summer — and our return […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
White House special adviser Jared Kushner and US Middle East envoy Jason Greenblatt are expected to visit Egypt as part of a Middle East tour kicking off this week. The two will also visit Israel and Saudi Arabia to discuss a new plan for Palestinian-Israeli peace that could roll out later this summer. It’s OPEC […]
Posted inON THE HORIZON
On the horizon
IMF board to decide on disbursement of USD 2 bn ad tranche next week: The IMF’s executive board will meet on 27 June to review progress on Egypt’s economic reform program ahead of voting to disburse the fourth USD 2 bn tranche of Egypt’s USD 12 bn Extended Fund Facility. An IMF delegation that was […]