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The National Bank of Egypt (NBE) is seeking new funding through the EUR 140 mn Green Economy Financing Facility launched by the European Bank for Reconstruction and Development, the French Development Agency, the European Investment Bank, and the EU. NBE has already secured a EUR 30 mn tranche of the facility, a senior source from […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
IDSC to launch governorate competitiveness index to guide decisionmaking
Cabinet’s Information and Decision Support Center (IDSC) is finalizing a governorate competitiveness index that is expected to be launched across all governorates “within days,” IDSC head Hossam El Gamal tells Al Borsa. The index was inspired by the World Economic Forum’s Global Competitiveness Report.
Posted inOther Business News of Note
House looking into Environment Ministry allocating land in Nabq protectorate to investors
The House Environment Committee is looking into the Environment Ministry’s decision to allocate and sell a 1.2 km strip of land in the Nabq protectorate to a foreign investor at EGP 5 per square meter, Al Borsa reports.
Posted inLegislation + Policy
Executive regulations for Industrial Permits Act to be issued in one month
The executive regulations for the newly-approved Industrial Permits Act will be released within a month, Trade Minister Tarek Kabil said on Monday, Al Borsa reports. The regulations are expected to outline the wait time and regulations for licenses in each type of industry. According to Kabil, around 70-80% of activities are classified as low-risk and […]
Posted inLegislation + Policy
House approves protest law amendments, vote postponed to a later session
The House of Representatives’ general assembly approved amendments to the protest law on Monday, AMAY reports, but postponed the vote to a later session when the full assembly is present.
Posted inNational Security
South Korea’s vice defense minister to visit Egypt, attempts to isolate DPRK
South Korea’s Vice Defense Minister Hwang In-moo will visit Egypt and Angola this week to discuss strengthening defense cooperation with the countries, according to Korea Times. The visit is part of South Korea’s efforts to “isolate Pyongyang further in line with tougher sanctions imposed by the United Nations Security Council,” the paper suggests. “Hwang will […]
Posted inNational Security
UAE showing military preparedness through joint exercises with Egypt
Joint military exercises with Egypt are a prime example of the UAE’s preparedness to defend its homeland and interests, The National’s editorial board argues.
Posted inNational Security
Egypt to receive 46 Ka-52 Alligators before the end of the year
Russian arms exporter Rostec has confirmed that it will deliver 46 Ka-52 Alligator attack helicopters to Egypt before the end of 2017, TASS reports.
Posted inON YOUR WAY OUT
Prosecutor General reopens investigation into Air Defense Stadium deaths
The Prosecutor General has reopened an investigation into Zamalek chairman Mortada Mansour for his alleged role in the death of 20 Zamalek fans in a stampede in 2015. Mansour was acquitted last July, but a court had accepted a suit brought by families of the victims, King Fut reports.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0806 | Sell 18.1853 EGP / USD at CIB: Buy 18.10 | Sell 18.20 EGP / USD at NBE: Buy 18.00 | Sell 18.10 EGX30 (Monday): 12,970 (-1.1%) Turnover: EGP 1.1 bn (144% above the 90-day average) EGX 30 year-to-date: +5.1% THE MARKET ON MONDAY: The EGX30 ended […]