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The CBE decided on Monday to allocate an additional EGP 10 bn to its Mortgage Finance Fund, bringing the total up to EGP 20 bn,according to Al Mal. The amount was increased after the program succeeded in giving out EGP 8.5 bn in loans. The CBE’s Mortgage Finance Fund seeks to boost financing for the […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Cairo metro fatwa kiosks shut down -Gulf News
Cairo Metro authorities have shut down the “fatwa-kiosks” set up in metro station in Cairo, Gulf News reports. The booth faced a campaign by secularists against it who argued “that the subway is no place for religious discourses and could alienate Egypt’s Christian minority.” An official at Cairo Metro insisted the “closure was not related […]
Posted inOther Business News of Note
Fawry moves EGP 500 mn for e-commerce websites
Fawry processed EGP 500 mn-worth of sales for online retailers during 2Q2017, CEO Ashraf Sabry said yesterday, Al Masry Al Youm reports. The company’s revenues from e-commerce increased by 300% y-o-y for the period through the 60 or so websites they work with and has plans to have invested EGP 400 mn by the end […]
Posted inEgypt Politics + Economics
Ismail places economic, security-related crimes under State Emergency court's jurisdiction
Prime Minister Sherif Ismail issued a decree placing certain security and economic-related crimes under the purview of the State Emergency courts for the duration of the state of emergency which was enacted in April and renewed in July, Ahram Online reports. Economic crimes covered by the decision, which was published in the Official Gazette on […]
Posted inON YOUR WAY OUT
On this day: 10 October
ON THIS DAY- On this day in 1985, the hijacking of Italian cruise ship Achille Lauro ended after US Navy F-14 fighters intercepted an airliner attempting to fly the Palestinian hijackers to freedom and force the jet to land at a NATO base in Sigonella, Sicily. The incident started on 7 October when the ship […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.59 | Sell 17.69 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.6 | Sell 17.7 EGX30 (Monday): 13,968 (-0.2%) Turnover: EGP 1.6 bn (75% above the 90-day average) EGX 30 year-to-date: +13.2% THE MARKET ON MONDAY: The […]
Posted inCALENDAR
11-12 October (Wednesday-Thursday): 2030 Mega Projects Conference, Nefertiti Hall, Cairo International Convention Center, Cairo. 11-13 October (Wednesday-Friday): Middle East and Africa Rail Show, Cairo International Convention Center, Cairo. 15-16 October (Sunday-Monday): The Marketing Kingdom Cairo 3 conference, Dusit Thani Lakeview Hotel, Cairo. 17 October (Tuesday): The Narrative PR Summit, Four Seasons Nile Plaza, Cairo. 18-19 […]
Posted inWhat We're Tracking Today
What we’re tracking on 09 October
On a day on which we’d prefer to bask in the afterglow of football, an influential US senator iswarning we should all be worried about the prospect of World War III thanks to The Donald. Senator Bob Corker, the Republican chairman of the Senate Foreign Relations Committee, told the New York Times in an interview […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
A large Egyptian delegation will start trickling into Washington, DC, today and tomorrow for the IMF and World Bank annual fall meetings. The gatherings kick off today and run until 15 October. Among those attending are Investment Minister Sahar Nasr, Finance Minister Amr El Garhy, EGX chief Mohamed Farid and Egyptian Financial Supervisory Authority Chairman […]