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Powered by EGP / USD CBE market average: Buy 17.5974 | Sell 17.6968 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Thursday): 14,319 (+0.3%) Turnover: EGP 1.6 bn (66% above the 90-day average) EGX 30 year-to-date: 16.0% THE MARKET ON THURSDAY: The […]
Author Archives: enterpriseam admin
Posted inCALENDAR
06-07 November (Monday-Tuesday): Crisis Communications Conference, Four Seasons Nile Plaza Hotel, Cairo. 06-09 November (Monday-Thursday): EFG Hermes’ 7th Annual London Conference on 6-9 November, Arsenal’s Emirates Stadium. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 02 November 2017
Happy Float-a-versary: We’d like to take a moment to remind everyone that tomorrow is the one-year anniversary of the EGP float — or the turning point in Egypt’s economic recovery. On the morning of 3 November last year, the Central Bank of Egypt moved “with immediate effect, to a liberalised exchange rate regime to quell […]
Posted inON THE HORIZON
On the horizon
Egypt is on track to issue its first electronic visa in December as part of the rollout of a number of e-government services at the Cairo ICT expo running from 3-6 December, Al Mal reports. The long-talked about e-visa system, which was expected to be implemented in May, had been a cornerstone strategy of the […]
Posted inEnterprise+: Last Night’s Talk Shows
Yet another boring night on the airwaves, with no econ or business topics of note
It was yet another bland night on the airwaves last night, with not one talking head discussing econ or business-relevant topics. On Masaa’ DMC, Osama Kamal on the Ismail cabinet’s decision to stop issuing licenses for new billboards with the head of the Federation of Egyptian Industries’ advertising division, Ashraf Khairy. Khairy told Kamal that […]
Posted inSpeed Round
Egyptian eurobond yields continue to drop
Egyptian eurobond yields continued to decline on overweight investor demand, according to the most recent Africa DCM Market Update by BNP Paribas (pdf). Our friends at the bank tell us they are seeing strong buying activity from US and UK real-money funds in the secondary market. Yields on Egyptian eurobonds declined to their lowest level […]
Posted inSpeed Round
EAEF acquires “significant minority stake” in Orchidia Pharma
M&A WATCH- Our friends at the Egyptian-American Enterprise Fund (EAEF) have acquired a significant minority stake in ophthalmic meds maker Orchidia Pharma Industries on Wednesday, EAEF announced in a statement (pdf). The transaction, executed through EAEF’s investment manager Lorax Capital Partners, will see the EAEF subscribe in an upcoming capital increase along with Orchidia founder […]
Posted inSpeed Round
EFG Hermes tops brokerage league tables for October
EFG Hermes topped the EGX’s brokerage league table for October with a 17.7% market share. CI Capital placed second with a market share of 6.8%, followed by Beltone Financial (6.1%), Pioneer Holdings (5.5%), and Pharos Holding (4.1%).
Posted inSpeed Round
More reax to Egypt’s disappointing ranking in the World Bank’s Doing Business 2018
We got more government reaction yesterday to the disappointing news that Egypt fell six places to 128 on the World Bank Group’s Doing Business Report 2018. The reax ranged from frustration to outright shade. Vice Minister of Finance Amr El Monayer said that the criteria the report uses to measure taxation cannot accurately assess the […]