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The Financial Regulatory Authority (FRA) is planning to announce the launch a movable collateral assets registry at a press conference on Sunday, Al Mal reports. The FRA had signed an agreement with The Egyptian Credit Bureau (I-Score) last year to establish the registry, which is expected to facilitate SME funding and aid the government’s financial […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
ADIA sells EGP 30.89 mn CIB stake
The Abu Dhabi Investment Authority (ADIA) has sold an EGP 30.89 mn stake in CIB, according to an EGX release. The sale of the 400k shares at EGP 77.2418 per share brings ADIA’s holding to 4.9661% of the company's shares.
Posted inLegislation + Policy
House of Representatives approves draft law on incentivizing innovation and scientific research
The House of Representatives granted preliminary approval on Monday to legislation that wouldexempt higher education and scientific research bodies from taxes and customs tariffs on imported equipment and materials used for research, Ahram Gate reports. The law is meant to incentivize innovation and scientific research. Parliament postponed holding a final vote on the law due […]
Posted inPOLITICS + ECONOMICS
Egypt detains six for “insulting the police” through a play
Military prosecutors are investigating six individuals arrested last week for their involvement in a play “seen as insulting to police forces,” The Associated Press reports. The play is named after Suleiman Khater, a police conscript who killed seven Israeli tourists in 1985. The arrests come after President Abdel Fattah El Sisi issued a stern warning […]
Posted inON YOUR WAY OUT
Panic on EgyptAir Muscat-Cairo flight as passenger assaults crew
A passenger induced panic on a Muscat-Cairo EgyptAir flight yesterday when he assaulted crew members and demanded entry to the cockpit while shouting ‘Allahu Akbar,’ Egyptian aviation officials tell The Associated Press. The chief cabin steward received a slight head injury before two air marshals and other crew members tackled the unarmed passenger. The plane […]
Posted inON YOUR WAY OUT
Antiquities Minister in talks with Alexandria’s Jewish community to re-open historic synagogue
Antiquities Minister Khaled El Anany is in talks with representatives of Egypt’s Jewish community to re-open Alexandria’s 160-year-old synagogue, Al Mal reports. The Ministry had announced in September that it was adding the Menasche Synagogue to its national heritage list of religious monuments.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.5665 | Sell 17.6660 EGP / USD at CIB: Buy 17.56 | Sell 17.66 EGP / USD at NBE: Buy 17.55 | Sell 17.65
Posted inCALENDAR
05-07 March (Monday-Wednesday): EFG Hermes’ One on One Conference 2018, Atlantis, The Palm, Dubai, UAE. 06-07 March (Tuesday-Wednesday): The Sustainable Industrial Areas International Conference 2018, The Nile Ritz Carlton hotel, Cairo. 07-10 March (Wednesday-Saturday): ITB Berlin Convention, Berlin, Germany. 12-16 March (Sunday-Saturday): AmCham’s 40th Doorknock mission, Washington D.C., USA. 28-31 March 2018 (Thursday-Sunday): Cityscape Egypt, […]
Posted inWhat We're Tracking Today
What we’re tracking on 6 March 2018
Greetings from the second day of the EFG Hermes One on One in Dubai. The world’s largest frontier and emerging markets investor conference got off to a busy start yesterday with a packed morning of panels and interviews, the largest poll of frontier and emerging markets investors and executives, and an afternoon of company meetings. […]