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The Electricity Ministry is in talks with fivel local banks over a USD 90 mn loan to finance grid maintenance work by the Upper Egypt Electricity Production Company (UEEPC), company chief Ibrahim El Shahat tells Al Borsa. The negotiations comes after an 11-year loan agreement with a local bank was cancelled. UEEPC is trying to […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
State Information Service says Times’ Bel Trew had expired press credentials
The Times reporter Bel Trew was expelled from Egypt for not having valid accreditation and for filming without the necessary permits, the State Information Service said in a statement yesterday. According to the SIS, the Times correspondent had been accredited with the Egyptian Press Center for five years, during which her “erroneous” coverage of Egyptian […]
Posted inNational Security
Security forces kill six militants alleged to have been involved in Alex bombing
Security forces killed six militants belonging to terrorist group Hasm during a raid in Beheira yesterday. Investigators believe the group was behind the Saturday bombing in Alexandria, according to an Interior Ministry statement. The ministry identified three of those were killed in yesterday’s shoot-out, but it remains unclear whether any of them carried out Saturday’s […]
Posted inON YOUR WAY OUT
Christie’s NYC to auction 27 Ancient Egyptian artefacts next month
Christie’s is auctioning off 27 Ancient Egyptian artefacts in New York on 18 April, according to their website. The pieces on display include a rare statue of Sekhem-ankh-Ptah, an ancient Egyptian high official who lived during the Old Kingdom period (2389-2255 B.C.), as well as mummy masks from the Roman period.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.5853 | Sell 17.6828 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Sunday): 16,985 (-0.5%) Turnover: EGP 1.4 bn (22% below / above the 90-day average) EGX 30 year-to-date: +13.0% THE MARKET ON SUNDAY: The […]
Posted inCALENDAR
28-31 March 2018 (Thursday-Sunday): Cityscape Egypt, Cairo International Convention Centre, Cairo. 02-03 April (Monday-Tuesday): Pharos Holding’s investor conference: In Search for Egypt Alpha, Cairo. 08 April (Sunday): Easter Sunday, national holiday. 09 April (Monday): Sham El Nessim, national holiday. 11 April (Wednesday): The Game Sports Industry Conference, Nile Ritz-Carlton Hotel, Cairo. 17-18 April (Tuesday-Wednesday): Creative […]
Posted inWhat We're Tracking Today
What we’re tracking on 25 March 2018
It’s a very busy news morning as the first quarter roars to a close, with a presidential election set to take place in Egypt this week, expectations that the central bank will cut interest rates on Thursday, and global markets looking at a potential sell-off when markets open tomorrow, sparked by the prospect of a […]
Posted inEnterprise+: Last Night’s Talk Shows
Yesterday’s terrorist bombing top coverage on the airwaves
Yesterday’s terrorist bombing, widely considered a failed assassination attempt on Alexandria’ security chief, was all the airwaves had to offer last night. Experts and officials interviewed by the talking heads say that Daesh had nothing to do with it and that smaller groups were the culprits. National Terrorism Council member Khaled Okasha phoned in to […]
Posted inSpeed Round
Apache to drill 50 new wells in Egypt next fiscal year, EGAS and Eni trying to speed up Zohr production schedule
Apache is planning on drilling 50 new exploratory wells in Egypt in the coming fiscal year through its Qaroun and Khalda Petroleum subsidiaries, both JVs with EGPC, Apache CEO John Christmann said on Thursday, according to a report in state-owned Ahram Gate. Christmann said he expects the sector to “witness a boom” in FY2018-19. Apache’s […]