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Tharwa Capital has requested approval from the Financial Regulatory Authority (FRA) for Palm Hills Developments’ (PHD) EGP 300-350 mn securitized bonds issuance, Tharwa Managing Director Ayman El Sawy tells Al Borsa. PHD had decided last year to delay the issuance until after interest rates drop, and was considering upping the issuance to EGP 1.6 bn. […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Banque Misr studies opening new branch in Kazakhstan
Banque Misr is studying the possibility of opening a new branch in Kazakhstan as part of its plans for overseas expansion, Chairman Mohamed El Etreby tells Al Masry Al Youm.
Posted inOther Business News of Note
SCZone to resolve all investment disputes in Ain Sokhna by year’s end, says Mamish
The Suez Canal Zone (SCZone) has approved investment dispute settlements with three companies operating in Ain Sokhna, according to a statement. The approvals will be referred to the Ismail Cabinet’s investment dispute resolution committee for sign-off before being ratified. The SCZone expects to resolve all outstanding investment disputes by year’s end, according to SCZone chief […]
Posted inOther Business News of Note
Egypt passes WTO’s fourth Trade Policy Review
Egypt has passed the World Trade Organization’s (WTO) fourth review of trade policies and practices that took place on 20-22 February, the Trade and Industry Ministry said in a statement. The review looked at economic development in the years since the last review in 2005.
Posted inEgypt Politics + Economics
Ministries to move to new administrative capital 1H2019
Government offices will be moved to the new administrative capital in 1H2019, Planning Minister Hala El Said said yesterday, according to Al Mal.
Posted inNational Security
Chief of Staff attends final stage of France-Egypt “Cleopatra 2018” naval exercise
Egypt and France concluded the Cleopatra 2018 joint naval exercise in the Red Sea yesterday, an Armed Forces' statement said.
Posted inON YOUR WAY OUT
Tourists flock to Aswan’s Abu Simbel temple for Sun Festival
VOA News put together a photo gallery of tourists flocking to Aswan’s Abu Simbel temple last Thursday for the twice-annual Sun Festival, during which a beam of sunlight shines on the statues of King Ramses II, Queen Nefertari, and god Amun Re.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.64 | Sell 17.74 EGP / USD at CIB: Buy 17.62 | Sell 17.72 EGP / USD at NBE: Buy 17.59 | Sell 17.69 EGX30 (Thursday): 15,319 (+0.5%) Turnover: EGP 1.3 bn (15% ABOVE the 90-day average) EGX 30 year-to-date: +2.0% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
05 March (Monday): Egypt’s PMI reading for February released. 05-07 March (Monday-Wednesday): EFG Hermes’ One on One Conference 2018, Atlantis, The Palm, Dubai, UAE. 07-11 March (Wednesday-Sunday): ITB Berlin Convention, Berlin, Germany. 28-31 March 2018 (Thursday-Sunday): Cityscape Egypt, Cairo International Convention Centre, Cairo. 08 April (Sunday): Easter Sunday, national holiday. 09 April (Monday): Sham El […]
Posted inWhat We're Tracking Today
What we’re tracking on 22 February 2018
The US Federal Reserve sees the American economy gaining momentum. Minutes from Janet Yellen’s final meeting as Fed chair shows the US central bank have “marked up their growth forecasts since the previous month, encouraged by firm global growth, supportive financial markets and the potential for US tax cuts to boost the economy more than […]