Author Archives: enterpriseam admin

A hiccup on the road to economic recovery? Business conditions in Egypt’s non-oil private sector deteriorated at a faster pace in March compared to February, according to the Emirates NBD PMI compiled by Markit. The reading fell to 45.9 in March from 46.7 a month earlier, still below 50 and deep in contraction territory. “Sharper […]

Fitch is worried about Egyptian banks’ capitalization: Some Egyptian banks will struggle to meet minimum regulatory capital requirements following the EGP float given their high exposure to foreign currency loans, Fitch Ratings says. It also believes that the EGP devaluation will result in a “modest deterioration” in asset quality, with debt restructuring of loans for […]

There is strong demand for emerging market credit with 1Q2017 primary issuance hitting new record high, according to BNP Paribas’ Africa Weekly DCM Market Update. The report shows that Egyptian credit spreads remained resilient on strong secondary trading activity. Newly issued notes tightened on a US Treasury rally, which drove Egyptian yields to trade at […]

President Abdel Fattah El Sisi had yet another busy day of meetings on the fourth day of his official visit to DC, which included a sit-down with Jordan’s King Abdullah II. The two leaders reaffirmed their commitment to the Palestinian-Israeli peace process and the resolution of other political conflicts in the region, an emailed statement […]

Shipping lines that pulled out of Egypt added no value to the economy –PM: The withdrawal of five major shipping lines from the East Port Said Port is not a grave issue or loss for Egypt in terms of investment, Prime Minister Sherif Ismail said yesterday. According to Ismail, the shipping lines were initially attracted […]

Is the House Economic Committee backtracking on its (nonsensical in the first instance) decision to split the proposed Investment Act in two? The House of Representatives’ Economic Committee decided against splitting the Investment Act into two separate bills, MP Mohamed Saad Badrawy tells Al Borsa. The committee concluded its review of the bill on Tuesday, […]

Consumers in the lowest consumption-based price tier may be exempt from electricity price hikes: A committee from the Egyptian Electric Utility and Consumer Protection Agency (Egyptera) has prepared scenarios for new electricity prices, including the possibility of exempting those who consume less than 300 kWh from the July hikes, a source from the agency tells […]

We love the smell of fees in the morning: McKinsey & Company has been tapped to advise the government on the restructuring of the EGPC and its subsidiaries, beating out Ernst & Young, Navigant, and a PwC and Logic Consultancy partnership, sources told Al Borsa on Tuesday. It will take a year to put together […]

INVESTMENT WATCH- MM Group, whose IPO is due to wrap next week as the company’s shares begin trading on the EGX, plans to invest EGP 1 bn over the next 18 months to expand its e-commerce, microfinance and consumer operations, said Chairman Khaled Mahmoud. He expects FY2017 net profits to jump 80% to more than […]