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15-17 January (Monday – Wednesday): EFG Hermes Annual Egypt Day Conference, Four Seasons Nile Plaza, Cairo 15 January (Monday): EFG Hermes Annual Egypt CEOs Dinner, Four Seasons Nile Plaza, Cairo 22-23 January (Monday-Tuesday): Arqaam Capital Egypt Investors Conference 2018, The Vineyard Hotel, Cape Town, South Africa. 25 January (Thursday): 25 January revolution / Police Day, […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 08 January 2018
Coptic Christmas celebrations unfolded smoothly over the long weekend. President Abdel Fattah El Sisi attended Christmas Mass led by Pope Tawadros II at the Nativity of Christ Cathedral in the new administrative capital “amid tight security,” Reuters reports. Dobro pozhalovat': Russian President Vladimir Putin authorized the resumption of regular civilian flights from Russia to Cairo […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The central bank will auction off USD 850 mn in one-year USD-denominated treasury billstomorrow. The auction will be marketed to local and foreign institutions, Reuters notes. MNOs move to petition NTRA’s cap on SIM card sales: Execs from Vodafone Egypt, Orange Egypt, and Etisalat Misr are expected to meet this week with the National Telecommunications […]
Posted inEnterprise+: Last Night’s Talk Shows
Talk shows on 7 January 2018
Tempest in a teapot: The New York Times’ exposé of what it claims is an intelligence officer pushing talk show hosts to convince viewers to accept the Jerusalem declaration reigned supreme on the airwaves last night. (We have the full story in Egypt in the News, below.) Foreign Affairs Minister Sameh Shoukry phoned in to […]
Posted inSpeed Round
PMI falls in December, but 4Q2017 average is highest in two years
Business conditions in Egypt’s non-oil private sector deteriorated in December, according to December’s PMI reading, which came in 48.3. That drop came just a month after the expansion recorded in November, when PMI was 50.7. That said: The average reading over 4Q2017 was the highest in two years. “Signs of economic stability and increased capital […]
Posted inSpeed Round
Investors optimistic about Egypt’s 2018 prospects, but FDI may not surge until second half
Investors are “increasingly optimistic about prospects” for Egypt in 2018 “after years of political turmoil,” according to Reuters. With foreign holdings of T-bills growing 3x over 2010 levels, foreign investment in the capital market reaching its highest since 2010, and — most importantly — FDI inflows rising, the Egyptian economy is definitely looking like it’s […]
Posted inSpeed Round
Oxford Business Group sees Egypt’s economic growth accelerating further in 2018
The Oxford Business Group released their Egypt review for 2017, in which it notes that an “improved performance in Egypt’s key sectors, tighter fiscal management, and increased capital inflows drove an economic rebound last year, with growth expected to accelerate further in 2018.” Communications was the fastest-growing sector in FY2016-17, advancing 12.5% for the year, […]
Posted inSpeed Round
Tax Authority’s seizure of GTH’s bank accounts relates to 2005 tax dispute -source
An administrative freeze on Global Telecom Holdings (GTH)’s bank accounts is related to a 2005 tax dispute, a source at the Tax Authority told Al Mal. The hold on EGP 990 mn in GTH’s Egyptian bank accounts is “normal procedure” the source says. GTH had said it was going to appeal the decision and that […]
Posted inSpeed Round
Religious Endowment Authority to invest EGP 1 bn in stock market
INVESTMENT WATCH- The Religious Endowments Authority has earmarked EGP 1 bn to be invested in the EGX, Ahmed Abdelhafez, the Authority’s head, told Al Mal. The earmarked amount is only preliminary, Abdelhafez says, and the authority has ample liquidity that could be used to invest in the upcoming round of state-owned company IPOs. He adds […]