Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Market sees CBE keeping rates on hold: The central bank’s Monetary Policy Committee (MPC) meets on Thursday to decide on the basic interest rates. 14 out of 15 economists surveyed by Reuters expects the bank will hold overnight deposit rates at 14.75% and overnight lending rates at 15.75%. The lone dissenter expects a hike. Pharos […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Three branches of government on the outs over amendments to the Judicial codes; Pope Tawadros discusses plight of Christians in Sinai
The spat between the judiciary and House of Representatives over controversial amendments to the judicial code dominated the airwaves last night, after the House’s Legislative Committee signed off on the proposed changes, incurring the wrath of the judiciary. Some background on what may be a politically charged issue in the weeks ahead: The amendments, among […]
Posted inSpeed Round
Retailers bullish on Egypt, MAF doubling down on Egypt
Retailers remain bullish on Egypt:Majid Al Futtaim (MAF) is doubling down on investments in Egypt, Tamim Elyan writes for Bloomberg. “I’m not worried about falling disposable income because for a number of years Egypt has had an official economy that was sustained by a gray one … The current situation is beginning to look positive […]
Posted inSpeed Round
House gives its final approval to IMF loan agreement
Forgive us for feeling it’s a bit anticlimactic, but: The House of Representatives voted in a plenary session yesterday to approve Egypt’s USD 12 bn bailout agreement with the International Monetary Fund, Ahram Gate reports. Our elected representatives grabbed what might be their last opportunity to bellyache about what they claim is the unconstitutionality of […]
Posted inSpeed Round
Finance Ministry sets final exchange rate and oil price projections for FY2017-18 budget
The Finance Ministry has settled on an exchange rate of EGP 16.00 per greenback and sees oil price at USD 55 / bbl for the FY2017-18 budget, Finance Minister Amr El Garhy told Youm7after the cabinet economic group’s budget talks on Monday. The budget should head to the House of Representatives in the coming weeks, […]
Posted inSpeed Round
Egyptera committee to recommend hiking electricity prices 15-40%
Electricity regulator to recommend hiking electricity prices 15-40%? A committee from the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) is ready to recommend new prices for electricity under the FY2017-18 budget, a source from the agency tells Al Shorouk. The committee is reportedly suggesting hiking tariffs for the lowest consumption tier by 15%, […]
Posted inSpeed Round
Argentina, Egypt, charting comparable economic reform paths, but Egypt enjoys more international support
Argentina, Egypt, charting comparable economic reform paths, but Egypt enjoys more international support: Argentina and Venezuela are two emerging markets that, in order to cope with the downturn in the commodity price cycle and the recession that followed, “are following two diametrically opposed macroeconomic management strategies,” according to a BNP Paribas report. “Argentina succeeded in […]
Posted inSpeed Round
BP begins trial operations at North Alexandria concession -El Molla
BP has begun trial operations at its North Alexandria offshore concession and is expected to bring the well to commercial production levels this year, Oil Minister Tarek El Molla said yesterday, Al Borsa reports. As we noted earlier this month, BP is expecting to produce 600 mcf/d of natural gas and will process it at […]
Posted inSpeed Round
IFC lends AAIB USD 100 mn to support SMEs
The IFC announced providing the Arab African International Bank (AAIB) with a USD 100 mn loan to help it scale up lending to SMEs “and build its sustainable energy finance portfolio in response to increased energy bills for many companies and SMEs.” About half of the loan is earmarked for increasing SME loans. The other […]
Posted inSpeed Round
Orascom Construction, Smart International Schools withdraw from 200 schools project
Orascom Construction and Smart International Schools have allegedly withdrawn frombidding on a state tender to develop 200 schools under a public-private partnership framework, sources tell Al Borsa. The government is expected to announce next week which of 43 bidders will move forward, and the newspaper claims that the Emirates’ Al Madaen and Britain’s Carillion are […]