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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
President Abdel Fattah El Sisi kicks off an Africa tour starting Monday, according to Al Masry Al Youm. El Sisi will stop in Tanzania, Rwanda, Gabon, and Chad. Trade and Industry Minister Tarek Kabil put out a statement ahead of the trip saying exports to African countries in 2016 were worth USD 3.4 bn. Egypt […]
Posted inON THE HORIZON
On the Horizon for 13 August 2017
The Federation of Egyptian Banks is set to send the CBE itscomments on the Central Bank and banking act in the coming few weeks. President Abdel Fatah El Sisi is due to visit China next month. He will be meeting his Chinese counterpart Xi Jinping on the sidelines of a BRICs conference on emerging markets. […]
Posted inEnterprise+: Last Night’s Talk Shows
Alex train disaster that claimed the lives of 43 tops last night’s talk shows
As we expected, the Friday train collision near Alexandria that claimed the lives of at least 42 people was front and center on the airwaves last night. On Masaa DMC, Health Ministry spokesperson Khaled Mogahed updated host Eman El Hosary on the human cost of the incident, which also injured 133 (watch, runtime 4:32). It […]
Posted inSpeed Round
Inflation rate surges to 33% in July
Inflation surges in July: The annual urban headline inflation rate increased to 33% in July from 29.8% in June with the m-o-m rate also rising to 3.2% from 0.8%, according to CAPMAS. The annual rate is the highest since the EGP float last November. Core inflation also shot up to 35.26% on an annualised basis […]
Posted inSpeed Round
New trading systems coming, short selling at long last
Short selling coming to the EGX? The EGX and Misr for Central Clearing, Depository, and Registry (MCDR) plan on introducing upgrades to the bourse’s trading systems that herald the coming of short-selling and an options market, newly-appointed EGX boss Mohamed Farid said on Saturday, Al Borsa reports. The announcement comes more than a decade after […]
Posted inSpeed Round
Inflows hit USD 40 bn since EGP float
Egypt has pulled in USD 40 bn worth of inbound investment and transfers from abroad since the EGP float in November, said CBE Deputy Governor Rami Aboul Naga on Thursday. The influx comes from receipts from exports, the carry trade, and de-USDization (either on the local market or through remittances) he added according to Bloomberg. […]
Posted inSpeed Round
CBE breathes life back into FX bureaus
CBE breathing life back into FX bureaus? The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. The move comes as FX reserves have been shored up, […]
Posted inSpeed Round
Zulficar & Partners advising on three M&As including two worth EGP 850 mn
Zulficar & Partners has been tapped as legal advisor on three M&As in the healthcare and retail sectors, senior associate Hegui Taha tells Al Mal. Zulficar & Partners will be advising on an acquisition of an unnamed Egyptian retail chain by a foreign bidder in a transaction worth EGP 700-800 mn. Taha added that the […]
Posted inSpeed Round
Nasr to Chair GAFI, Zobaa appointed as full-time managing director
MOVES- Prime Minister Sherif Ismail appointed Investment and International Cooperation Minister Sahar Nasr as chairperson of the General Authority for Investment and Free Zones (GAFI). Nasr, meanwhile, announced that Mona Zobaa was appointed as the full-time Managing Director of GAFI. Zobaa has been the acting head of GAFI since May. Ismail’s decision also included appointing […]