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EGP / USD CBE market average: Buy 18.0376 | Sell 18.1406 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Thursday): 12,709 (+0.8%) Turnover: EGP 745 mn (42% below the 90-day average) EGX 30 year-to-date: +2.9% THE MARKET ON THURSDAY: The EGX30 index […]
Author Archives: enterpriseam admin
Posted inCALENDAR
08-09 May (Monday-Tuesday): Third Egypt CSR Forum, Intercontinental Citystars Hotel, Cairo. 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. 15-17 May (Monday-Wednesday): Morgan Stanley's […]
Posted inWhat We're Tracking Today
What we’re tracking on 4 May 2017
Yes, we know, it’s anecdotal evidence and all, but we can’t help but smile this morning as we note: a steel company committing USD 250 mn to new lines; a PE outfit saying it has bought 75% of a 100+ year-old heritage brand (and that it plans to invest even more in it); a VC […]
Posted inWhat We're Tracking Today
The Ikhwan are running their own parallel lobbying mission in DC, and it’s every bit as crazy as you would imagine
The Ikhwan are running their own little parallel lobbying mission in DC, and it’s every bit as crazy as you would imagine. A handful of Ikhwan are in DC looking for attention, and judging from what “media coverage” there is out there, the Parallel Universe Doorknock of Crazies appears to involve a lot of waiting […]
Posted inWhat We're Tracking Today
El Sisi wraps UAE visit, Arab youth survey, the world’s most expensive car
President Abdel Fattah El Sisi wraps up his two-day visit to the UAE today. The two have discussed bilateral ties as well as regional issues including terrorism and the conflicts in Syria, Yemen, and Libya, according to an emailed statement from Ittihadiya (pdf). The UAE’s readout on the meeting, carried by state news agency WAM, […]
Posted inON THE HORIZON
On the horizon
The House of Representatives is scheduled to hold on Sunday the final vote on the 10% social welfare raise for bureaucrats not covered by the Civil Service Act, Al Ahram reports. The House Budget Committee is expected to begin discussing the FY2017-18 budget on Monday, 8 May, once the finance and planning ministers are free […]
Posted inEnterprise+: Last Night’s Talk Shows
A very boring night of Egyptian talk shows
The airwaves served us with a random assortment of terribly non-exciting topics last night, with coverage of the latest happenings in the Investment Act being the most thrilling of the lot (we have more on that in Speed Round). Masaa’ DMC’s Osama Kamal spoke House Economic Committee member Rep. Ahmed Farghal about his squabble with […]
Posted inSpeed Round
House could vote on Investment Act today after Economic Committee decides to keep private free zones against Finance Ministry’s wishes
After reports of drama yesterday and Tuesday, could today be the day the House finally votes on the Investment Act? The House of Representatives is expected to vote on the Investment Act in a plenary session today now that the debate over the return of private free zones has been put to rest, MPs tell […]
Posted inSpeed Round
IMF review “going well,” Egypt on track to receive second tranche of USD 12 bn facility -El Garhy
Cabinet’s progress on the economic reforms it promised as a condition of the USD 12 bn IMF bailout is so far in line with the fund’s expectations, Finance Minister Amr El Garhy told the press yesterday. According to El Garhy, discussions with the IMF delegation currently in town to assess our reform program are going […]