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The Central Bank has awarded e-banking licenses to 10 banks, Assistant Sub-governor Ayman Hussein told the press this weekend without naming the banks, AMAY reports. The government has been working on a mobile payments strategy as part of its financial inclusion efforts, forming the National Payments Council earlier this year for that purpose.
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
48 Egyptian illegal workers die crossing into Libya
The bodies of 48 Egyptian workers trying to illegally cross the border into Libya were found in the desert on Friday, according to the Libya Herald. The Libyan Red Crescent has so far recovered 19 of the bodies, of whom seven have been identified, the Egyptian Foreign Ministry said. The ministry is working on returning […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.8382 | Sell 17.9376 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.82 | Sell 17.92 EGX30 (Thursday): 13,369 (+0.3%) Turnover: EGP 975 mn (33% below the 90-day average) EGX 30 year-to-date: +8.3% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
13-15 July (Thursday-Saturday): AGRENA’s 19th Annual Poultry, Livestock, and Fish show, Cairo International Convention Center, Cairo. 15-19 July (Saturday-Wednesday): SSIGE’s GeoMEast 2017 International Congress and Exhibition, Sharm El Sheikh. 23 July (Sunday): Revolution Day, national holiday. 03-05 August (Thursday-Saturday): Watrex Expo Middle East, Cairo International Exhibition & Convention Center. 17 August (Thursday): Central Bank of […]
Posted inWhat We're Tracking Today
What we’re tracking on 7 July 2017
It’s MPC day: Expect the central bank’s monetary policy committee to keep interest rates on hold when it meets later today. Nine out of 10 economists surveyed by Reuters expect the bank will hold the overnight deposit rate at 16.75% and the overnight lending and discount rate at 17.75%. Beltone Financial sees a resurgent EGP […]
Posted inON THE HORIZON
On the horizon
Supply Minister Ali El Moselhy will be meeting with food producers and distributors next week to negotiate ways to keep shipping and transport costs low. This comes as the Interior Ministry is reportedly leading its own price control initiative to help keep commodity prices low in light of the government’s recent hike in fuel prices, […]
Posted inEnterprise+: Last Night’s Talk Shows
Qatar was front row and center
The Qatari saga was front row and center on the airwaves last night. Qatar’s response to the Arab nations’ demands was “passive and devoid of content,” showing no indication the country is willing to concede, Foreign Affairs Minister Sameh Shoukry told Amr Adib on last night’s Kol Youm. Shoukry stressed that the Arab states are […]
Posted inSpeed Round
CI Capital-led consortium snags Enppi IPO
IPO WATCH - CI Capital-led consortium snags Enppi IPO: A consortium led by CI Capital was tapped by the government as lead managers and bookrunners of the listing of energy company Enppi — the first IPO of a state-owned company in 12 years. The consortium also includes Jefferies International Limited and Emirates NBD Capital Limited, […]
Posted inSpeed Round
Egypt’s net FX reserves grow to USD 31.3 bn in June
Egypt’s net FX reserves grew a measly USD 180 mn to USD 31.3 bn in June, up from USD 31.1 bn in May, the CBE said in a statement. The growth was one of the smallest month-on-month gains in net FX reserves since the CBE floated the EGP back in November. ...On the flipside, CBE […]