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The government’s plan to restructure the state-owned Television and Radio Union (Maspero) aims to pay off EGP 32.8 in debt over the next three years, Planning Minister Hala El Said said yesterday, Al Masry Al Youm reports. The National Investment Bank, Maspero’s largest creditor, will manage debt settlement processes, which involve taking over some the […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Court jails 65 Ikhwan members up to 10 years over incitement
The Zagazig criminal court has sentenced 44 Ikhwan members to 10 years in prison and 21 others to two years over charges of incitement against the military and state institutions, The Associated Press reports. Eight others were acquitted.
Posted inSports
Egypt signs up for Lagos squash tournament
Egyptians are dominating the list of squash players that have signed up for the 2018 Lagos International Squash Classics, according to the Eagle Online. Players from the France, Switzerland Germany, Portugal, the US, Iraq, Pakistan, and India are also participating. The victor from the March event takes USD 20,000 home.
Posted inON YOUR WAY OUT
Harassment victim performs citizen’s arrest on harasser
A video out of Upper Egypt shows a woman exacting instant justice on a man after he harrasses her (watch, runtime 1:35). The woman chases her attacker and the pair exchange blows until passersby intervene. The man is said to have received three years for his actions, Arab News says. Business Today will be announcing […]
Posted inON YOUR WAY OUT
Visual arts forum starts in Luxor
The Luxor International Visual Arts Forum began yesterday and will run until 25 February, according to AMAY. The forum features artists from nine different countries displaying their work in its various forms, including photography, filmmaking, sculpting, and performing arts.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6319 | Sell 17.7319 EGP / USD at CIB: Buy 17.59 | Sell 17.69 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Sunday): 15,046 (+0.5%) Turnover: EGP 1.4 bn (24% ABOVE the 90-day average) EGX 30 year-to-date: +0.2% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
19-20 February 2018 (Monday-Tuesday): The Banking Tech North Africa, The Nile Ritz-Carlton, Cairo 17-21 February 2018 (Saturday-Wednesday): Women For Success - Women SME's "World of Possibilities" Conference, Cairo/Luxor. 20 February (Tuesday): The Third Annual Capital Markets Summit, InterContinental Cairo Semiramis, Cairo. 05 March (Monday): Egypt’s PMI reading for February released. 05-07 March (Monday-Wednesday): EFG Hermes’ […]
Posted inWhat We're Tracking Today
Wall Street finishes best week in years
So, is the correction over? The EGX30 gained 1.1% on Thursday and Wall Street on Friday “finished its best week in years as stocks staged a recovery from a tumultuous period that pushed major indexes into correction territory, a sign that bullish sentiment remained intact,” the Wall Street Journal writes. The S&P500 and the Dow […]
Posted inWhat We're Tracking Today
What we’re tracking on 18 February 2018
Ethiopia has declared a six-month state of emergency following the surprise resignation on Thursday of Prime Minister Hailemariam Desalegn, effectively kicking talks with Egypt on the Grand Ethiopian Renaissance Dam far down the priority list for our upstream neighbor’s government. Desalegn said he was resigning over anti-government violence. The snap resignation came amid protests in […]
Posted inWhat We're Tracking Today
Egypt comes down to fourth from second place on Bloomberg’s Misery Index 2018
Egypt ranked fourth on Bloomberg’s Misery Index for 2018, coming down from second place last year, thanks largely to reform efforts and focus on private investment. Venezuela and South Africa are seen as the “world’s unhappiest countries,” coming in in first and second place, respectively. Argentina follows in third, while Greece and Turkey are tied […]