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TE Data’s contribution to Telecom Egypt’s earnings plunged 98.6% year-on-year in 1Q2017 to EGP 1.38 mn from EGP 98.45 mn last year, according to a Central Accounting Agency report picked up by Al Mal. The drop comes mainly on the back of a 86% y-o-y decrease in TE Data’s net profit. This comes after we […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Minority shareholders approve MTO
Shareholders controlling just 0.45% of Cairo Specialized Hospital agreed to sell their shares to parent company Cleopatra Hospitals Group as part of a mandatory tender offer, according to a bourse disclosure. Cleopatra’s MTO aimed to acquire the outstanding 1.2 mn shares of Cairo Specialized Hospital that it did not already own. The deadline for the […]
Posted inSports
US ups security measures for basketball team playing in Egypt next month
The US under-19 basketball team will be given the same level of security as an Olympic team when they travel to Cairo for the World Cup for men next month, The Associated Press reports. This means “more staff on the ground and greater intelligence shared.” The team also learned the event will be secured by […]
Posted inON YOUR WAY OUT
Qalaa Scholarship Foundation names 12 scholars this year
Egypt’s largest private-sector scholarship program has announced 12 recipients of full scholarships to pursue graduate studies at top global universities. The Qalaa Holdings Scholarship Foundation’s class of 2017-18 (which includes 10 Qalaa Holdings scholars and one recipient each of scholarships from TAQA Arabia and the Egyptian Refining Company) will be studying “at leading universities in […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0415 | Sell 18.1412 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Wednesday): 13,502 (-0.2%) Turnover: EGP 1.0 bn (39% below the 90-day average) EGX 30 year-to-date: +9.4% THE MARKET ON WEDNESDAY: The EGX30 was […]
Posted inCALENDAR
26 May-23 June (Friday-Friday): Window for firms to submit expressions of interest to the European Bank for Reconstruction and Development for consulting on Egypt’s oil and gas sector reform, London, UK. 22 June (Thursday): Nile Summit scheduled to be held in Uganda. 26-28 June (Monday-Wednesday): Eid Al-Fitr (TBC). 30 June (Friday): 30 June, national holiday. […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 June 2017
We have a domestic investment promotion campaign. The Ministry of Investment’s new national ad campaign kicked off last night, and we’re impressed with the first two copies we’ve seen. The core message of the campaign, which is being run for the ministry by our friends at Tarek Nour Group’s DDB: Investment by private-sector businesses creates […]
Posted inWhat We're Tracking Today
Energy consumption in Egypt grew 4.7% last year
2016 was another year of relatively weak growth for global energy consumption. That’s the primary takeaway from BP’s annual Statistical Review of World Energy, which treat as the most-quoted global study of energy consumption across the world. While worldwide energy consumption grew 1% last year (on par with 0.9% in 2015 and 1% in 2014 […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 June 2017 cont’d
The UAE’s ambassador to DC gives Qatar a solid kick in this op-ed for the Wall Street Journal. You had us from your lede, Mr. Al Otaiba: “It is a striking and dangerous contradiction: Qatar invests bns of USD in the U.S. and Europe and then recycles the profits to support Hamas, the Muslim Brotherhood […]