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A Cairo court has reportedly sentenced former presidential candidate and opposition figure Ayman Nour to five years in prison in absentia for "spreading false news that threatens the security of the country," RT Arabic reports. Nour appeared to confirm the story in a Facebook post, which he calls the charges laughable. the story is mostly […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Italy deports Egyptian national for “national security reasons”
Italy deported a 27-year-old Egyptian national for “national security reasons,” Al Mal reports, citing an Italian Interior Ministry statement.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0297 | Sell 18.1326 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Thursday): 12,526 (-1.2%) Turnover: EGP 819.7 mn (25% below the 90-day average) EGX 30 year-to-date: +1.5% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
30 April - 11 May (Sunday-Thursday): IMF delegation visit to Egypt to assess economic reforms. 30 April - 03 May (Sunday-Wednesday): Cement & Concrete 2017, Riyadh International Convention & Exhibition Center, Saudi Arabia. 01 May (Monday): Labor Day, national holiday. 04-07 May (Thursday-Sunday): Caféx, CICC, Cairo. 05-07 May (Friday-Sunday): Egypt Property Show, DWTC, Dubai. 08-09 […]
Posted inWhat We're Tracking Today
What we’re tracking on 27 April 2017
Shares in Raya Contact Center will start trading today under the ticker RACC, opening at EGP 16.50.Raya reported a consolidated net profit of EGP 118 mn for FY2016, up from EGP 30 mn in FY2015. Forex gains reached EGP 93 mn, largely on the back of the EGP float, the company said in a regulatory […]
Posted inWhat We're Tracking Today
How do you create 200k new jobs in four years? Create a ride-sharing service, Careem says.
How do you create 200k new jobs in four years? Start a ride-sharing service. Careem is projecting that it will create more than 200k new jobs and EGP 2 bn in annualized gross driver income by the end of next year. As of last month, the company had more than 54k drivers on the road […]
Posted inON THE HORIZON
On the horizon
Dates for IMF review in Cairo confirmed: An International Monetary Fund delegation will be in Cairo from Monday, 30 April until Thursday, 11 May to assess Egypt’s progress on the economic reforms for which we signed up as a condition of the USD 12 bn extended fund facility, IMF Mission Chief for Egypt Chris Jarvis […]
Posted inEnterprise+: Last Night’s Talk Shows
House votes on amendments to judicial codes tops discussions on airwaves
By far the most talked about issue in the airwaves last night was the House of Representatives’ passing of controversial amendments which would see the President appoint the heads of the judicial authorities. Judges Club head Mohamed Abdel Mohsen Mansour took to Yahduth Fi Masr to rail against the move and outline the course of […]
Posted inSpeed Round
RenCap says Egypt is its top pick
Egyptian assets are Renaissance Capital’s top pick: Egypt is now reaping the rewards of the EGP devaluation, according to Rencap’s Global Chief Economist Charles Robertson. He says the weaker EGP “should spur exports and encourage foreign direct investment over the next few years.” Robertson told Bloomberg “Egypt is one of the most interesting stories in […]