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Bad news this morning: The Central Bank of Egypt raised interest rates 200 bps overnight. We’re only starting to get our heads around the implications of the rate hike on borrowing costs for the state — let alone for investment by businesses, who will effectively be borrowing at what were once considered credit card interest […]
Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Budget talks at the House: Discussion of the FY2017-18 budget continue today at the House of Representatives, according to Al Mal, with Supply Minister Ali El Moselhy set to meet with members of the economics and budget committees. The budget committee is also expected to discuss spending priorities with the minister of sport. CIT Minister […]
Posted inEnterprise+: Last Night’s Talk Shows
Arab-American Islamic summit in the spotlight last night
The Arab-American Islamic Summit in Riyadh was easily the topic of the night on the airwaves last night. On Kol Youm, Amr Adib loudly sang Egypt’s praises, saying that the Arab world was mending its relations with the US thanks to Egypt’s good relations with the Trump administration (watch, runtime: 2:16). Over on Hona El […]
Posted inSpeed Round
MPC hikes key interest rates 200 bps
The central bank unexpectedly hiked interest rates last night by 200 bps to a new recordhigh: The Central Bank of Egypt’s Monetary Policy Committee moved against market expectations on Sunday night when it decided to raise key interest rates by 200 bps, bringing the overnight deposit rate up to 16.75%, overnight lending rate to 17.75%, […]
Posted inSpeed Round
US president Donald Trump to visit Egypt “very soon”
Expect The Donald in Omm El Donia “very soon”: US President Donald Trump met one-on-one with President Abdel Fattah El Sisi yesterday. According to The Associated Press, the meeting with El Sisi “underscored the kinship, with Trump saluting his counterpart on the April release of Egyptian-American charity worker Aya Hijazi.” Following an invitation by El […]
Posted inSpeed Round
El Sisi pitches counterterrorism strategy, preaches tolerance during speech in Riyadh
Fighting terror with a four-point strategy: Egyptian President Abdel Fattah El Sisi urged Arab and Muslim leaders on Sunday to rise above their differences and collaborate with each other and the rest of the world to battle the growing threat of terrorism. Addressing an audience at the Arab-Islamic-American summit in Riyadh yesterday, El Sisi spoke […]
Posted inSpeed Round
Beecroft addresses AmCham on US-Egypt military, economic ties
Dispatch from AmCham’s AGM: A speech from the US ambassador to Egypt. Enterprise attended the American Chamber of Commerce’s Annual General Meeting and Luncheon where outgoing President Anis Aclimandos handed the presidency to Tarek Tawfik. The new board of governors for 2017-19 was announced at the same gathering. The guest speaker was US Ambassador to […]
Posted inSpeed Round
Business News names CIB its bank of the year
CIB named Egypt’s best bank by publisher of Al Borsa. Business News, the publisher of Al Borsa, says CIB was awarded the prize after strong and balanced performance in 2017 as it improved its profitability and had adequate capitalization. In the award’s subcategories, CIB followed National Bank of Egypt in customer satisfaction, which also topped […]
Posted inUncategorized
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