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The Egyptian Arab Land Bank and EFG Hermes Leasing announced concluding a EGP 50 mn agreement to “jointly offer leasing solutions for fixed assets to small businesses in Egypt.” The agreement provides funding at low-interest-rate lease arrangements for small enterprises in Egypt and aims to capitalize on the central bank’s initiative to support SMEs.
Author Archives: enterpriseam admin
Posted inBanking + Finance
NIB sells 459,395 shares in ADIB Egypt for EGP 4.8 mn
The National Investment Bank (NIB) sold 459,395 shares in Abu Dhabi Islamic Bank (ADIB) Egypt for EGP 4.8 mn, according to an EGX filing (pdf). This brings the state-owned investment bank’s ownership in ADIB to 10.497% from 10.726%. Cairo Capital Securities brokered the transaction.
Posted inON YOUR WAY OUT
Groceries as delivered by The Terminator
First world problems with first world solutions: Icelandic capital Reykjavik now has theworld’s first drone delivery service, according to CNBC. The new service — offered through the combined efforts of Flytrex and online goods distributor AHA — would eliminate the problem of slow deliveries, caused by the city’s waterways. The Icelandic Transport Authority signed off […]
Posted inON YOUR WAY OUT
Diesel fuel tech can still be useful even if DME replaces the substance
Egyptian researcher Ahmed Osman Ahmed believes diesel fuel tech can still be useful even if the substance itself goes extinct. The Queen’s University-based scientist tells The National’s Gavin du Venage that Dimethyl Ether (DME) is a clean and renewable alternative to diesel that uses the same compression engines minus all the toxins. “It can be […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.69 | Sell 17.79 EGP / USD at CIB: Buy 17.69 | Sell 17.79 EGP / USD at NBE: Buy 17.7 | Sell 17.8 EGX30 (Wednesday): 12,996 (-0.9%) Turnover: EGP 542 mn (39% below the 90-day average) EGX 30 year-to-date: +5.3% THE MARKET ON WEDNESDAY: The […]
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 23 August 2017
It’s going to be a ridiculously busy day on the diplomatic front, starting with an exclusive report out of Reuters overnight that US officials want to trim as much as USD 290 mn in aid to Egypt to protest our “failure to make progress on respecting human rights and democratic norms.” There’s been no official […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The annual central bankers summit in Jackson Hole, Wyoming is this Thursday, with the most pressing concern for central banking chiefs being inexplicably low inflation despite a resurgent global economy, according to Bloomberg. U.S. inflation fell to 1.4% in June, while consumer prices in the euro area — currently at 1.3% — have wavered since […]
Posted inEnterprise+: Last Night’s Talk Shows
From organ trafficking to state financial transactions on Last Night’s Talk Shows
While no single topic reigned supreme on the airwaves last night, the talking heads picked up on some noteworthy issues, including the government’s automation of its financial transactions and an exposé on organ trafficking in Omm El Donia. Say goodbye to paper cheques from government: On Masaa DMC, Osama Kamal spoke with E-Finance’s Ibrahim Sarhan […]