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EGP / USD CBE market average: Buy 18.0309 | Sell 18.1321 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Wednesday): 12,993 (+0.5%) Turnover: EGP 1.2 bn (40% below the 90-day average) EGX 30 year-to-date: +5.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
9-11 May (Tuesday-Thursday): 2nd Egypt Oil & Gas Summit, Cairo. 10-12 May (Wednesday-Friday) The 15th Middle East & North Africa International Franchise Exhibition, AUC Downtown Greek Campus, Cairo. 10-12 May (Wednesday-Friday): RenCap's 8th Annual Pan-Africa 1:1 Investor Conference, Lagos. 11-14 May (Thursday-Sunday): Le Marché furniture expo at the state fairgrounds. 14 May (Sunday): The French […]
Posted inWhat We're Tracking Today
What we’re tracking on 10 May 2017
Prime Minister Sherif Ismail will fly to the UK today to participate in the two-day London Somalia Conference 2017, Ahram Online reports. The House of Representatives is expected to vote today on the 10% hardship raise forbureaucrats not covered by the Civil Service Act after postponing the vote once again due to lack of quorum. […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Furniture expo Le Marché is set to begin on Thursday 11 May and run until 14 May. Is Rambo coming to Egypt? Local website Cairo Gossip quotes an advisor to the Tourism Ministry as saying actor Sylvester Stallone is coming to Egypt this month with his family for a vacation.
Posted inON THE HORIZON
On the horizon
Trade Minister Tarek Kabil will angle for more Chinese investment when he heads next week to the 14-15 May Belt and Road Forum for International Cooperation in Beijing, Chinese state news agency Xinhua reports. “The Chinese investments in Egypt are less than USD 600 mn, which is very small given China's weight as the world's […]
Posted inEnterprise+: Last Night’s Talk Shows
Talk of the investment act dominates the airwaves on Last Night’s Talk Shows.
The Investment Act was once again the topic of choice on the airwaves last night. On Hona Al Asema, Lamees El Hadidi had a chat with Finance Minister Amr El Garhy about issues ranging from the Investment Act and the IMF delegation visiting Cairo. El Garhy also told Lamees that he is pleased with the […]
Posted inSpeed Round
US sends Egypt first wheat shipment in four months
Egypt has bought US wheat for the first time in four months, Bloomberg reported. US authorities “inspected 51,603 tons of wheat for export to Egypt in the week ended May 4, U.S. Department of Agriculture data showed on Monday. The last shipment to the country was in mid-January.” Egypt “probably bought that last week when […]
Posted inSpeed Round
M&A Watch: PICO’s Cheiron acquires 50% stake in Sahara North Bahariya Ltd.
M&A WATCH- Our friends at PICO are on a tear this week: PICO Group subsidiary Cheiron Egypt acquired a 50% stake in Sahara North Bahariya Ltd for USD 83 mn from EFG Capital Partners Fund III, sources close to the matter told Al Borsa on Tuesday. Cheiron reached financial close on the transaction earlier this […]
Posted inSpeed Round
Lekela Power to close contracts on USD 350 mn wind farm project within two months
INVESTMENT WATCH- Lekela Power, the pan-African renewable operator that is reportedly 60% owned by funds controlled by emerging markets private equity player Actis, will sign contracts for a USD 350 mn, 250 MW wind farm in the Gulf of Suez within two months, Actis Partner Sherif El Kholy says, according to Al Mal. Lekela’s website […]