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EGP / USD CBE market average: Buy 18.0326 | Sell 18.1350 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Sunday): 12,870 (-0.3%) Turnover: EGP 445 mn EGX 30 year-to-date: +4.3% THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session down 0.3%. CIB, […]
Author Archives: enterpriseam admin
Posted inCALENDAR
14-16 May (Sunday-Tuesday): CI Capital’s fifth annual Egypt Investor Conference, Gouna. 14-17 May (Sunday-Wednesday): Arab Sustainable Development Week, Nile Ritz-Carlton, Cairo. 15-17 May (Monday-Wednesday): Morgan Stanley's 3rd Annual GEMS Conference (EEMEA), London. 16 May (Tuesday): Official expiry date for the decision to suspend capital gains taxes on stock market transactions. 21 May (Sunday): Central Bank […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 May 2017
Businesses and government agencies across the world who rely on Windows PCs running older versions of the operating system were hit by a massive global cyberattack on Friday. The WannaCry / WannaCrypt attack encrypted the hard drives of some 200k infected users, offering them the ability to un-encrypt it in return for a ransom payment […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The House Budget Committee will begin its deliberations on the 2017-18 state budget tomorrow, MP Yasser Omar tells Al Borsa. The ministers of finance and planning should be present for the session. The Finance Ministry is expected to send a report on the country’s “private funds” (which have been criticized for being graft magnets) to the […]
Posted inON THE HORIZON
On the horizon
The Central Bank of Egypt’s Monetary Policy Committee will hold a rare Sunday meeting on 21 May to discuss interest rates. Will the MPC hike rates, as it appears the IMF is pushing it to do? Pharos Holding’s Ramy Oraby suggests it will leave them unchanged, noting that a cool-off in headline consumer price inflation […]
Posted inEnterprise+: Last Night’s Talk Shows
El Garhy on 2nd tranche of IMF facility, El Anany about new archaeological finds
On Hona Al Asema, Finance Minister Amr El Garhy had a chat with Lamees Al Hadidi, telling her he expects receive the second tranche of the IMF loan in the second half of June. El Garhy also vehemently denied rumors suggesting that the government has plans to hike energy prices, telling Lamees that the authorities […]
Posted inSpeed Round
Egypt passes IMF inspection and will receive the second tranche of the loan
Egypt is now just a few signatures away from receiving the second tranche of its USD 12 bn loan from the IMF,after the delegation assessing the country’s economic reform progress gave it a clean bill of health on Friday. The IMF’s executive board will now have to sign off on a staff-level agreement announced Thursday […]
Posted inSpeed Round
Egypt starts weaning itself off LNG, domestic production increases
We’ve started weaning ourselves off imported natural gas, Reuters says: Egypt is holding talks with its LNG suppliers to defer contracted shipments this year and aims to cut back on purchases in 2018, traders and industry sources tell Reuters. Domestic gas production is squeezing out demand for foreign imports, Oleg Vukmanovic writes for the newswire. […]
Posted inSpeed Round
Fuel price hikes coming before September?
Fuel price hikes coming before September? The rumor mill has kicked into overdrive. The government is planning to hike fuel prices by 25-40% before the end of August, Al Shorouk reports, citing an unnamed source. According to the source, the government has yet to settle on a timeline for the hikes and is looking into […]