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EGP / USD CBE market average: Buy 17.80 | Sell 17.90 EGP / USD at CIB: Buy 17.77 | Sell 17.87 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 16,178 (+1.5%) Turnover: EGP 812 mn (25% BELOW the 90-day average) EGX 30 year-to-date: +7.7% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
14 June (Thursday): 2018 World Cup kickoff match between Russia and Saudi Arabia, Moscow, Russia. 15 June (Friday): Egypt’s first 2018 World Cup match against Uruguay, Yekaterinburg, Russia. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 19 June (Tuesday): Egypt plays […]
Posted inWhat We're Tracking Today
What we’re tracking on 13 June 2018
It’s a relatively quiet day in Egypt, but there’s plenty of global business and economic news to keep you on your toes as we slide into the last 48 hours of Ramadan. Our good friends at Zooba have signed a franchise agreement that will see at least 20 branches of the capital city’s iconic casual […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The World Cup kicks off tomorrow: The world’s most-watched sports event will finally kick off in a little over 24 hours, with the first match being played between Russia and Saudi Arabia. You can tap or click here for the full World Cup schedule. State TV looks likely to air 22 matches, including any game […]
Posted inON THE HORIZON
On the horizon
White House special adviser Jared Kushner and US Middle East envoy Jason Greenblatt will reportedly visit Egypt during a Middle East tour that starts next week, Times of Israel reports. The tour, which will also take the officials to Israel and Saudi Arabia, will focus largely on “solving some of the remaining issues in the […]
Posted inEnterprise+: Last Night’s Talk Shows
Amr Adib signs with Saudi Arabia’s MBC
Amr Adib casts his lot with MBC. Veteran talk show host Amr Adib has signed a two-year contract to join Saudi Arabia’s MBC satellite network following his sudden on-air resignation from ON’s Kol Youm, according to a video posted by Saudi General Sports Authority head Turki Al-Sheikh, who witnessed the signing of the contract. “This […]
Posted inSpeed Round
Electricity prices to rise an average of 26% as early as next month
Electricity prices are jumping by an average of nearly 21% for households, more than 40% for industry: As of the 1 July start to the government’s new fiscal year, electricity prices are going up an average of 26%, said Electricity Minister Mohamed Shaker yesterday as he unveiled long-awaited details on the phase-out of electricity subsidies. […]
Posted inSpeed Round
Egypt achieves EGP 2 bn primary budget surplus during 11M17-18
Egypt delivered a primary budget surplus of EGP 2 bn in 11M17-18, compared to a deficit of EGP 47 bn in the same period the year before, Finance Minister Amr El Garhy said in a statement yesterday. The overall deficit also narrowed to 7.8%, down from 9.3% in the same period a year ago and […]
Posted inSpeed Round
FX reserves enough to cover nine months of imports.
Egypt now has FX reserves on hand sufficient to cover nine months of imports, CBE Tarek Amer said in a speech at the annual African Development Bank meeting in Busan, South Korea. Amer is reported to have said that the move was necessary because there could be no improvement in the country’s business climate without […]