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Egypt’s tourism revenues reached USD 1.6 bn in 1Q2017, up from USD 1.5 bn during the same period last year, an unnamed Tourism Ministry official tells Ahram Online. According to the source, tourist arrivals during the quarter hovered around 1.7 mn, compared to 1.2 mn during the same period last year. Ukrainian tourism jumped 138% […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
EGPC now asking for a EGP 15 bn loan, up from EGP 10 bn
The Egyptian General Petroleum Company (EGPC) is looking to increase the value of a loan it is seeking to EGP 15 bn from an initial estimate of EGP 10 bn, Al Mal reports. EGPC was first reported to be in the market for an EGP 10 bn loan late in March to finance fuel imports. […]
Posted inEgypt Politics + Economics
No tension between Cairo and Riyadh over Tiran and Sanafir -Deputy Crown Prince
There is no tension between Cairo and Riyadh over the Tiran and Sanafir islands, and the demarcation agreement does not entail Egypt giving up any of its land, Deputy Crown Prince Mohamed bin Salman said yesterday in an interview with a Saudi channel (runtime 1:22). According to bin Salman, Egypt and Saudi Arabia each have […]
Posted inEgypt Politics + Economics
El Sisi ratifies protest law amendments
President Abdel Fattah El Sisi signed off yesterday on amendments to the protest law passed by the House of Representatives last month, Al Shorouk reports.
Posted inNational Security
Polish company to provided Defense Ministry with EUR 3.8 mn worth of gear for EOD techs
Lubawa SA, a Poland-based producer of safety and quartermaster equipment, says it ended negotiations and started process of signing an agreement with the Defense Ministry for delivery of “overalls to disarm explosives.” Reuters reports that the agreement is worth EUR 3.8 mn. We’re presuming the talks are over blast suits for EOD techs, of which […]
Posted inNational Security
Hasm militant group claims responsibility for Monday police attack
Ikhwan-affiliated militant group Hasm issued a statement yesterday claiming responsibility for the Monday attack that left three members of the police force dead, Egypt Independent reports. The group also vowed to carry out further attacks in defiance of the state of emergency.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0321 | Sell 18.1350 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Tuesday): 12,530 (+0.8%) Turnover: EGP 590 mn EGX 30 year-to-date: +1.5% THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session up 0.8%. CIB, […]
Posted inCALENDAR
04-07 May (Thursday-Sunday): Caféx, CICC, Cairo. 05-07 May (Friday-Sunday): Egypt Property Show, DWTC, Dubai. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 2 May 2017
Good Tuesday morning, folks. It may feel rather a lot like Sunday, but it’s actually hump day and we’ve wrapped the last holiday we’ll have until after we slide into Ramadan. And because today is also the second day of May, we have a ream of economic and industry data to which to look forward […]