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11-14 May (Thursday-Sunday): Le Marché furniture expo at the state fairgrounds. 14 May (Sunday): The French Chamber of Commerce and Industry in Egypt’s discussion: “The EBRD approach to development financing and finance reform: the case of Egypt,” The Marriott Hotel, Cairo. 14-16 May (Sunday-Tuesday): CI Capital’s fifth annual Egypt Investor Conference, Gouna. 15-17 May (Monday-Wednesday): […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 11 May 2017
Keep it together for just a few more hours, people — the IMF delegation is leaving towntoday. The IMF delegation reviewing Egypt’s progress on economic reform before disbursing the second tranche of a USD 12 bn bailout package leaves Cairo today after a week busy of meetings with government officials. Finance Minister Amr El Garhy […]
Posted inON THE HORIZON
On the horizon
The Ismail government will sign contracts for the USD 30 bn Dabaa nuclear power plant with Russia’s Rosatom by the end of May now that negotiations are nearing the end, sources close to the matter tell Al Borsa. Maybe then the tourists can come back? The first 2 mn bbl shipment of Iraqi crude are […]
Posted inEnterprise+: Last Night’s Talk Shows
Economics dominate the airwaves: EFG’s Abou Basha meets Lamees, El Molla on BP’s start of operations in its West Nile Delta concessions
There was enough business and economics on the airwaves last night to keep us from falling asleep. Lamees El Hadidi spoke to EFG Hermes’ Mohamed Abou Basha about the month-on-month slowdown in inflation, which he said was the result of the market adjusting to the effects of recent economic reform measures (watch, runtime: 3:40). (More […]
Posted inSpeed Round
Inflation grows at slowest monthly rate since flotation
Egypt’s monthly inflation rate fell for a third month in a row after rising by just 1.7% in April compared to March, the slowest pace since October, according to CAPMAS. Annual urban inflation accelerated to 31.5% in April from 30.9% the month before, with food price inflation registering 43.6%. Core inflation decreased marginally to 32.06% […]
Posted inSpeed Round
FX problems in Egypt starting to fade -Bloomberg
The easing of bank restrictions on credit card usage abroad is another sign that the foreign exchange problems “have finally been dealt with and started to fade,” Capital Economics’ Jason Tuvey tells Bloomberg. “We’ve seen a sharp increase in foreign-exchange reserves, and there’s been a flow of [USD] that was in the black market moving […]
Posted inSpeed Round
BP announces first gas from West Nile Delta concession 8 months ahead of schedule
Production from BP’s Taurus and Libra fields in the West Nile Delta concession began on Wednesday, eight months ahead of schedule. The project also came in under budget,the company said in a statement. The fields, which constitute phase one of the West Nile Delta development, are currently producing more than 700 mn standard cubic feet […]
Posted inSpeed Round
Continued FCO warnings drive Thomas Cook to cancel planned flights to Sharm El Sheikh
Tour operator Thomas Cook has canceled its Sharm El Sheikh holiday bookings for the winter of 2017-18. It has also scrapped its summer 2018 holiday and flight programs, according to The Sun. The company had scheduled five winter flights per week, but scrapped them as a result “of the continued Foreign Office advice against travel […]
Posted inSpeed Round
EKH subsidiary bids for stake in NCMP
M&A WATCH- The bidding war for NCMP is heating up: Egypt Kuwait Holding (EKH) subsidiary International Financial Investments Company (IFIC) has submitted a bid to acquire Misr Capital Investment’s 42.96% stake in National Company for Maize Products (NCMP), according to a regulatory filing (pdf). The bid is nonbinding, and IFIC will submit a mandatory tender […]