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Your Ramadan rundown for today: Bank hours run 09:30 am to 01:30 pm for customers and from 09:00 am to 02:00 pm for employees, CBE announced. The EGX is running shorter trading hours. The trading session will kicks off at 10:00 am, but closes at 1:30 pm. Tap or click here for the full schedule. […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
Recommended Ramadan reading for 20 May 2018
Today’s recommended Ramadan reading: Whether you’re about to graduate high school or deep into midlife, you’ll want to read “It takes planning, caution to avoid being ‘It’,” the story of ten guys who have spent the last 28 years since graduating high school playing one long game of “Tag” every February. The story, which originally […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Russian industrial zone contracts will be signed on Wednesday? Egypt and Russia will sign contracts for a 5.23 mn sqm Russian Industrial Zone on Wednesday, 23 May, during a joint committee meeting, according to a Russian trade ministry statement (Russian) issued on Friday. Foreign Minister Sameh Shoukry hinted at the possibility in an announcement last […]
Posted inON THE HORIZON
On the horizon
The IMF should issue its progress report on Egypt’s economic reform program in two weeks’ time, Deputy Chief of Media Relations Alistair Thomson has said. Want to sell stuff to the rest of Africa? If hawking more of your wares in Africa is on your list of things to do, pencil in the Afreximbank-backed Intra-African […]
Posted inEnterprise+: Last Night’s Talk Shows
The talk shows are on hiatus for Ramadan
Nothing to see here, ladies and gentlemen. Literally. The talking heads are on hiatus for the month of Ramadan. We’re intensely grateful for the break, but we’ll still keep one eye on the airwaves just in case anything should appear that you need to know.
Posted inSpeed Round
CBE keeps interest rates on hold at Thursday meeting
The Central Bank of Egypt left key interest rates unchanged when it met on Thursday, according to a CBE statement (pdf). Overnight deposit and lending rates remain at 16.75% and 17.75%, respectively, with the discount rate also unchanged at 17.25%. The MPC said it still sees Egypt hitting its inflation target of c. 13% in […]
Posted inSpeed Round
IMF, Egypt reach staff-level agreement to disburse USD 2 bn loan tranche
IMF, Egypt reach staff-level agreement to disburse USD 2 bn loan tranche: The IMF delegation that was in town reviewing Egypt’s economic reform program has reached a staff-level agreement with the government to disburse the next USD 2 bn tranche of a USD 12 bn extended fund facility. The announcement followed a positive third review […]
Posted inSpeed Round
Gov’t preparing to tweak budget for higher oil prices?
EXCLUSIVE- Gov’t preparing to tweak budget for higher oil prices? The Ismail Cabinet will decide in the coming two weeks whether to raise the overdraft limit in the FY2017-18 budget to give itself breathing room in the context of climbing oil prices, Vice Minister of Finance Mohamed Maait tells Enterprise. The budget was originally drafted […]
Posted inSpeed Round
GB Auto could list GB Capital by 2020
IPO WATCH- GB Auto could list GB Capital by 2020: GB Auto could list its financing subsidiary GB Capital on the EGX by 2020, GB Auto Chairman and CEO Raouf Ghabbour said, without disclosing further details on the expected size or value of the offering. GB Auto has no plans to list any of its […]