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EGP / USD CBE market average: Buy 17.7314 | Sell 17.8295 EGP / USD at CIB: Buy 17.71 | Sell 17.81 EGP / USD at NBE: Buy 17.67 | Sell 17.77 EGX30 (Thursday): 17,155 (-1.8%) Turnover: EGP 1.4 bn (21% ABOVE the 90-day average) EGX 30 year-to-date: +14.25% THE MARKET ON THURSDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
14 May (Monday): Flat6Labs’ Cairo Spring Demo Day, InterContinental Semiramis, Cairo. 17 May (Thursday): Expected date for the start of Ramadan. 17 May (Thursday): CBE’s Monetary Policy Committee meeting. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 28 June (Thursday): CBE’s […]
Posted inWhat We're Tracking Today
What we’re tracking on 10 May 2018
EGX is the fifth best stock market in the world in 2018, says Country Economy: The EGX is the fifth best performing stock market in the world after rising 16.25% YTD in May 2018, according to data compiled by Country Economy. Topping there list was Venezuela’s IBC Caracas which soared 1304.26%, followed by Ukraine’s PFTS […]
Posted inON THE HORIZON
On the horizon
EETC to issue tender for electricity grid interconnection with Sudan “within days”: The Egyptian Electricity Transmission Company (EETC) will issue a local and global tender for power lines and transformers for the electricity grid interconnection project with Sudan “within days,” sources had said. Contracts to connect our electric grid to Saudi Arabia’s could be signed […]
Posted inEnterprise+: Last Night’s Talk Shows
Health spending is now parliament’s crusade of the week
The airwaves provided us with little by way of newsworthy coverage last night, with the notable exception being MPs haggling in parliament to raise the FY2018-19 budget allocation for health. MPs of the House of Representatives’ Budget Committee have turned raising health spending into the crusade of the week (after last week’s “debt crisis”). Committee […]
Posted inSpeed Round
EBRD ups forecast for Egypt economic growth in FY2017-18 by 0.8 bps 5.3%
EBRD ups forecast for Egypt economic growth in FY2017-18 by to 5.3%: The European Bank for Reconstruction and Development (EBRD) expects Egypt’s economy to grow by 5.3% in FY2017-18, up 0.8 bps from a previous estimate of 4.5%. Economic growth is expected to accelerate further in FY2018-19 to 5.5%, “supported by the continued boost in […]
Posted inSpeed Round
Vice Minister of Finance reassures private sector of a role in new healthcare system
EXCLUSIVE- Vice Minister of Finance reassures private sector of a role in new healthcare system: Vice Minister of Finance Mohamed Maait attempted to reassure private sector healthcare providers and insurance companies that the Universal Healthcare Act guarantees a role for the private sector in the new system under Article 10 of the law. In an […]
Posted inSpeed Round
The IFC plans to invest another USD 1.5 bn in Egypt’s private sector this year
INVESTMENT WATCH- The IFC confirms it plans to invest another USD 1.5 bn in Egypt’s private sector this year. The International Finance Corporation (IFC) officially confirmed in a statement that it has allocated USD 1.5 bn in new funding for the private sector in FY2018-19. The local press had been noting the figure late last […]
Posted inSpeed Round
Military Production Authority signs MoU with China’s GCL Group to establish solar panel factory
INVESTMENT WATCH- China’s GCL Group to establish USD 2 bn solar panel factory with Military Production Authority: The Military Production Authority signed yesterday an MoU with China’s GCL Group to establish a USD 2 bn solar panel factory, according to a Military Production Ministry statement. The facility will produce solar panels with a projected generation […]