Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
The first day of budget discussions at the House was fairly smooth: Discussion at the House Budget Committee of the FY2017-18 state budget kicked off yesterday and went reasonably smoothly apart from the expected griping about inflation. That’s building toward resistance to hiking energy prices this summer on concerns about what that would do to […]
Author Archives: enterpriseam admin
Posted inSpeed Round
House Budget Committee signs off on capital markets stamp tax
House Budget Committee signs off on capital markets stamp tax: The House of Representatives’ Budgeting Committee signed off on the new 0.125% stamp tax (or EGP 1.25 for every EGP 1,000 in transaction value) that will be applied on the buy- and sell-sides of all capital market transactions once issued, Al Mal reported yesterday. The […]
Posted inSpeed Round
Unemployment rate drops to 12.0% in 1Q2017
Unemployment in Egypt has dropped to 12.0% in 1Q2017 from 12.4% a quarter earlier, according to CAPMAS. The labor force increased by 0.3% q-o-q in 1Q2017 to 29.15 mn and the number of those who are unemployed dropped by 2.5% to 3.50 mn in the same quarter. The unemployment rate among females is still stubbornly […]
Posted inSpeed Round
CFLD to invest USD 20 bn in Egypt over 10 years
China Fortune Land Development (CFLD) plans to invest USD 20 bn in Egypt over the next 10 years, according to an Investment and International Cooperation Ministry press release. The planned investments include projects in the New Administrative Capital in which it will begin a month after the contract for the project is signed. The project’s […]
Posted inSpeed Round
Egypt cancels sale of seven-year treasury bonds at Monday auction
Egypt canceled a sale of seven-year treasury bonds at auction yesterday, according to central bank data, Reuters reports. No reason was given for the cancellation, but average yields on the three-year bonds had increased to 17.360% from 17.229% at the last similar auction, the newswire reported.
Posted inSpeed Round
Earnings Watch: EFG Hermes, Telecom Egypt
EARNINGS WATCH- EFG Hermes recorded a net profit after tax and minority interest from continued operations of EGP 236 mn in 1Q2017. Total operating revenue increased by 106% y-o-y to EGP 825 mn during the quarter. “Our revenue growth reflects both the robust health of our traditional agency business and a growing contribution from our […]
Posted inSpeed Round
International news of note on 16 May 2017
Meanwhile, a handful of international stories worth noting in brief this morning: US President Donald Trump is under attack for allegedly having revealed to Moscow “highly classified intelligence” about a planned operation against Daesh. Trump is said to have made the remarks during a meeting in the Oval Office with Russia’s foreign minister. (Reuters | […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inTHE MACRO PICTURE
On “overheating” emerging markets stock and the search for “smart beta”
“Red Hot Emerging-Market Stocks Are Showing Signs of Overheating,” Bloomberg warns this morning, writing that “after the MSCI Emerging Market Index’s surge of about 17 percent this year, momentum indicators suggest the rally is losing steam.” Why? It’s all technical mumbo-jumbo. “The benchmark is approaching a resistance level formed by the trend line connecting the […]
Posted inImage of the Day
Blast from the colorful past
Blast from the colorful past: The psychedelic vibes of 1960s and ‘70s America, which first emanated from counterculture and anti-war movements, found their way into the mainstream, with companies including Coca Cola, Wrangler Jeans, Woolworths, and even Chelsea National Bank having adapted the color and vibrant tones of pop art for their advertising purposes. Check […]