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Capital inflows to EM to increase in 2017, Egypt to get USD 32 bn -IIF. Non-resident capital inflows to emerging markets are projected to increase by USD 252 bn to USD 970 bn in 2017, according to a report by the Institute of International Finance (IIF). The IIF expects resident capital flows to EMs to […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s FX reserves overtakes Nigeria
Are you paying attention, Nigeria? Egypt’s net FX reserves overtook Nigeria’s for the first time since 2011, Paul Wallace writes for Bloomberg. Egypt’s reserves reached USD 31.1 bn in May, with inflows reaching USD 7.5 bn, speeding up considerably since the central bank adopted a full float of the EGP. Nigeria’s central bank is trying […]
Posted inSpeed Round
Central Bank repays another USD 750 mn in arrears to IOCs
Speaking of the CBE, it has paid another USD 750 mn in arrears owed to international oil companies in the past few days, Assistant Sub Governor Rami Abulnaga said, according to Al Masry Al Youm. That follows separate payments topping USD 750 mn made to IOCs last month.
Posted inSpeed Round
Ergot redux?
Ergot… again? An administrative court struck down a government decree transferring responsibility for inspecting agricultural imports from the Agriculture Ministry's quarantine body to the Trade Ministry, Reuters reported. This could mean that Egypt will return to the zero-tolerance policy for ergot in grain shipments, which caused severe disruption to wheat supplies. “The zero-tolerance policy led […]
Posted inSpeed Round
A number of tourism sector representatives resign from Supreme Tourism Council
Does someone in the tourism industry want Yehia Rashed out? Red Sea Tourism Investment Association chairman Kamal Abou Ali has resigned from the Supreme Tourism Council, which convened for the first time in February, Al Masry Al Youm reports. Abou Ali says there is no clear vision for saving the tourism sector. The Egyptian Hotels […]
Posted inSpeed Round
El Ganainy appointment as CIB’s institutional banking CEO approved
MOVES- The Central Bank of Egypt approved CIB’s appointment of Amr El Ganainy as its CEO for institutional banking, according to a bourse statement.
Posted inSpeed Round
Rashwan named SIS head
MOVES- Diaa Rashwan was appointed chairman of the State Information Service (SIS), Al Masry Al Youm reports. Rashwan is a former head of the Press Syndicate and director of Al-Ahram Center for Political and Strategic Studies. The appointment of a veteran columnist and analyst is the first time in recent memory (ours, at least) that […]
Posted inSpeed Round
Investment law primer from Sharkawy & Sarhan
Need a primer on the investment law? A good starting point is this narrated slide show (with accompanying text summary) from Sharkawy & Sarhan (watchor read, runtime: 10:01).
Posted inUncategorized
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Posted inImage of the Day
Ancient Egyptian city of Tell el-Amarna built by child labor?
Ancient Egyptian city of Tell el-Amarna built by child labor? Tell El-Amarna, an ancient Egyptian city built by the Pharaoh Akhenaten and his queen Nefertiti, may have been built by young adults and children. Over 90% of the skeletons exhumed from the Amarna Project, on which freelance archaeologist Mary Shepperson worked, were between the age […]