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ON THIS DAY- On this day in 2015, European Space Agency lander Philae landed on comet 67P/Churyumov–Gerasimenko as part of the Rosetta mission, achieving the first ever soft landing on a comet nucleus, ten years and eight months after departing Earth. 35 years earlier, the US space probe Voyager 1 reached the planet Saturn and […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6015 | Sell 17.7006 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Thursday): 14,350 (+1.0%) Turnover: EGP 1.3 bn (33% above the 90-day average) EGX 30 year-to-date: +16.2% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
14 November (Tuesday): SEMED Business Forum: Investing for Sustainable Growth, Conrad Hotel, Cairo. 16 November (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 19-21 November (Sunday-Tuesday): 11th Annual INJAZ Young Entrepreneurs Competition, Four Seasons Nile Plaza, Cairo. 01 December (Friday): Prophet’s Birthday, national holiday. 01-03 December (Friday-Sunday): RiseUp Summit, Downtown Cairo. […]
Posted inWhat We're Tracking Today
What we’re tracking on 09 November 2017
We have a flurry of IPO, M&A news and investment news to cap a fantastic week in which we’ve already been inundated with … IPO, M&A and investment news. We can’t think of a better way to start the weekend, so read on. EGX Chairman Mohamed Farid discussed plans to attract investment to the Egyptian […]
Posted inON THE HORIZON
On the horizon
The central bank’s Monetary Policy Committee convenes a week from today to review interest rates. We’re not expecting a cut in rates before the MPC’s 28 December meeting, by which time a year of post-float inflation data will be in the bag. Egypt plans to launch its first electronic visa in December at the Cairo […]
Posted inEnterprise+: Last Night’s Talk Shows
Youth forum and Suez Canal tops headlines on the airwaves
On a somewhat bland night on the airwaves, the World Youth Forum continued to lead the conversation. Not a surprise considering Hona Al Asema’s Lamees Al Hadidi was off last night. But first on TEN TV, Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish told host Amr Abdel Hamid that 51% of land development in […]
Posted inSpeed Round
Ibnsina gets EGX nod to list shares, plans November transaction roadshow
IPO WATCH- Ibnsina has listed its shares on the Egyptian Exchange (EGX) ahead of itsplanned initial public offering of c. 37.5% of its total share capital via a primary offering of newly issued shares and a secondary offering of existing shares held by current shareholders, the company said in a statement last night (pdf). In […]
Posted inSpeed Round
CIB reports record third quarter earnings
EARNINGS WATCH- Our friends at CIB reported record third quarter results overnight, with net income up 23% year-on-year in 3Q2017 to EGP 2.1 bn, the bank said in its earnings release (pdf). Revenues advanced 45% compared to the same period last year to close the quarter at EGP 4.2 bn. On a nine-months basis, that […]
Posted inSpeed Round
Is it still a horse race to acquire NCMP?
M&A WATCH- Banque Misr, National Bank of Egypt to exit NCMP: Banque Misr plans to sell its 42.9% majority stake in the National Company for Maize Products (NCMP) through Misr Financial Investment Company, Al Mal reports. The National Bank of Egypt will also exit its 9.6% stake in the company after the Financial Regulatory Authority […]