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Our friends at CIB sponsored the bicentennial celebration of the discovery of the temple of Abu Simbel in Le Petit Palais Museum in Paris. The event was part of an international campaign by UNESCO to preserve Nubian heritage and was held under the auspices of the Foreign Ministry. “CIB-Egypt is proud to support and sponsor […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
On this day: 28 September
ON THIS DAY- On this day last year we were panicking because the EGP had weakened to EGP 13.00 to USD 1 on the parallel market in anticipation of what was seen as an “imminent” devaluation. A year beforewe were reading President Abdel Fattah El Sisi’s op-ed in the Wall Street Journal and mourning the […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.6129 | Sell 17.7129 EGP / USD at CIB: Buy 17.61 | Sell 17.71 EGP / USD at NBE: Buy 17.61 | Sell 17.71 EGX30 (Wednesday): 13,741 (+0.3%) Turnover: EGP 1.3 bn (47% above the 90-day average) EGX 30 year-to-date: +11.3% THE MARKET ON WEDNESDAY: The […]
Posted inCALENDAR
28 September (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. September — The House of Representatives is due to begin discussion of the proposed bankruptcy bill. 30 September-01 October (Saturday-Sunday): Techne Summit, Bibliotheca Alexandrina, Alexandria. 03 October (Tuesday): Egypt’s Emirates NBD PMI reading released. 03-05 October (Tuesday-Thursday): J.P. Morgan’s Credit and […]
Posted inWhat We're Tracking Today
Enterprise 3Q2017 survey results
Our readers expected business conditions in 2017 would improve, and they were right: Almost half of all respondents to our 3Q2017 business sentiment survey believe the business climate in Egypt has improved so far this year. That’s up from just a fifth of you who said at the end of last year that 2016 was […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The central bank’s Monetary Policy committee is expected to keep interest rates unchanged when it meets tomorrow, Reuters suggests. Ten out of 12 economists polled by the newswire said the CBE would keep the deposit rate at 18.75% and the lending rate at 19.75% as post-float inflationary pressures continue to ease. “Although monthly inflation is […]
Posted inON THE HORIZON
On the horizon
The German government will sign off on a USD 250 mn loan to Egypt in two weeks’ time. The funds will be used to help plug the budget deficit, Al Mal claims.
Posted inEnterprise+: Last Night’s Talk Shows
The IMF report, the only topic worth noting really last night
Apart from Lamees Al Hadidi dissecting the IMF report and celebrating Saudi’s decision to let women drive, there was not much to report from the airwaves. Lamees dove head-first into the IMF’s inaugural review of Egypt’s economic reform plan, which she described as “promising” overall. Lamees pointed out that, while the report had plenty of […]
Posted inSpeed Round
Egypt makes “good start” with reform program -IMF
The IMF thinks Egypt is on track with the economic reform program, according to the Associated Press. Egypt has made “a good start at reining in public spending, boosting investor confidence, and addressing the surging inflation generated by the new policies,” the Fund says in its first review since signing the funding agreement with Egypt. […]