Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Powered by EGP / USD CBE market average: Buy 17.63 | Sell 17.73 EGP / USD at CIB: Buy 17.63 | Sell 17.73 EGP / USD at NBE: Buy 17.64 | Sell 17.74 EGX30 (Tuesday): 13,195 (+1.4%) Turnover: EGP 706 mn (20% below the 90-day average) EGX 30 year-to-date: +6.9% THE MARKET ON TUESDAY: The […]
Author Archives: enterpriseam admin
Posted inCALENDAR
31 August-04 September (Thursday-Monday): Eid Al-Adha, national holiday as specified by the Astronomical and Geophysics Institute. The Thursday is the waqfat Arafat, with the first day of the Eid on Friday, 1 September. September — The House of Representatives is due to begin discussion of the proposed bankruptcy bill. 06 September (Wednesday): The Emirates NBD […]
Posted inWhat We're Tracking Today
What we’re tracking on 29 August 2017
It is a very slow news day as we head into a long weekend for Eid Al-Adha (here) and Labor Day (in the US / Canada). Enjoy the lull while it lasts — we’re looking at a hectic fall, folks, between the abyss that is a packed legislative season for the House of Representatives — […]
Posted inON THE HORIZON
On the horizon
The customs exchange rate will be lowered to EGP 16 per USD 1 effective from 1 September, Finance Minister Amr El Garhy told Reuters. The rate was lowered from EGP 16.25 per USD 1 and will be in place for one month. El Garhy noted that the customs exchange rate is set at about 90% […]
Posted inEnterprise+: Last Night’s Talk Shows
El Garhy on strengthening EGP, Tourism minister claims spending by tourists has exceeded 2010 levels
El Garhy on strengthening EGP: A lower customs exchange rate is a natural reflection of the strengthening EGP, the stability of the market, and the gradual increase in FCY liquidity in the banking system, Finance Minister Amr El Garhy told OnLive’s Markets and Business. El Garhy stressed that current FX rates are not controlled by […]
Posted inSpeed Round
Shuaa Capital seeks regulatory approval to re-enter Egyptian market
Shuaa Capital seeks regulatory approval to re-enter Egyptian market: UAE’S Shuaa Capital is looking to re-enter the Egyptian market and says it “has formally begun discussions with Egyptian regulators for reintroducing its securities business into the Egyptian market,” CPI Financial reports. “Shuaa Capital believes there still exists significant untapped potential to serve clients eyeing the […]
Posted inSpeed Round
Cleopatra Hospitals files for capital increase to fund hospital acquisition, retire debt
MARKET WATCH- Cleopatra Hospital Group is in the market for a 150-bed hospital. The group filed for a capital increase (pdf) of EGP 700 mn through a fully tradable rights issue at the par value of EGP 0.50 per share and will use the proceeds to ensure that EGP 580 mn are available “to support […]
Posted inSpeed Round
Saudi Prince Khaled Bin Alwaleed wants to invest in Egypt
INVESTMENT WATCH- Yet another Saudi wants to invest in Egypt. Saudi Prince Khaled Bin Alwaleed Bin Talal Al Saud expressed interest in investing in new projects in Sharm El Sheikh — partnering with companies to expand current projects, or helping financially struggling companies, according to an Investment Ministry statement. Al Saud told Investment Minister Sahar […]
Posted inSpeed Round
EFG Hermes confirms it advised on TBS, Intro Investments transaction
M&A WATCH- EFG Hermes confirmed it acted as the “sole financial advisor for the shareholders of Native Markets,” which owns the TBS and Four Fat Ladies brands, on a transaction that resulted in a ‘partnership’ between Native Markets and the Abbas family’s Intro Investments Holding. EFG Hermes did not provide any details on the transaction, […]