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Egypt’s Ka-52K shipboard helicopter order from Russia is likely to be split up over two separate contracts, state arms exporter Rosoboronexport Director General Alexander Mikheev tells Sputnik. Cairo will need to secure the necessary funding before the Russian side can set a date for the signing the contracts.
Author Archives: enterpriseam admin
Posted inNational Security
Militant kills two retired officers, one soldier at toll station
A militant killed two retired officers and a soldier at a toll station in Al Ayyat in Giza, Egypt’s military spokesperson said in a statement. Investigations are ongoing.
Posted inON YOUR WAY OUT
IFC investing USD 1 mn in Palestinian VC Ibtikar Fund
IFC to invest USD 1 mn in Palestinian Ibtikar fund: The International Finance Corporation (IFC) is investing USD 1 mn in Palestinian VC fund Ibtikar, according to an IFC press release. The investment will allow Ibtikar, which focuses on accelerator-based investments in ICT startups, to close the USD 10.45 mn it needed to support some […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.8385 | Sell 17.9391 EGP / USD at CIB: Buy 17.82 | Sell 17.92 EGP / USD at NBE: Buy 17.82 | Sell 17.92 EGX30 (Wednesday): 13,335 (0.00%) Turnover: EGP 850 mn (33% below the 90-day average) EGX 30 year-to-date: +8.0% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
06 July (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 5 July 2017
The exchange rate has been on people’s minds this week as the EGP appreciated against the USD for the first time in three months on Monday after strengthening c.0.7%. The EGP continued this gain again today with a rate of EGP 17.95 to the USD 1. Most research houses are of the view that these […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
We are only one day away from the CBE’s Monetary Policy Committee meeting this Thursday. Conventional wisdom has it that the CBE with hold interest rates, a view held by economists in a Reuters poll which we noted yesterday. HSBC and Beltone Financial both also predict that the CBE will keep current interest rates, according […]
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 after the latest hike in fuel prices, Al Shorouk reports. El Moselhy and members of the Federation of Egyptian Chambers of Commerce had agreed on Monday to cap transport fee […]
Posted inEnterprise+: Last Night’s Talk Shows
The EGP’s appreciation tops talks on the airwaves
The exchange rate and the EGP’s appreciation continued to dominate discussions on the airwaves last night. The EGP’s appreciation is simply the result of the laws of supply and demand, Banque Misr Chairman Mohamed El Etreby told Amr Adib on last night’s Kol Youm. While the Central Bank broke a record with its single-day gain […]