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06-08 March (Monday-Tuesday): EFG Hermes One on One Conference, Atlantis, The Palm, Dubai. 08-12 March (Wednesday-Sunday): 2017 ITB Berlin, CityCube Berlin, Germany. 15 March (Wednesday): Arab Women Organization’s event: Investing in refugee women, UN General Assembly Building, New York City. 18-19 March (Saturday-Sunday): Delegation of Japanese food industries companies visits Egypt. 29-30 March (Wednesday-Thursday): Cityscape […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 07 March 2017
Greetings from Dubai, where if you’re not attending the EFG Hermes One on One, we’ve got you covered this morning. A poll of nearly 700 institutional investors and top leading companies in MENA and frontier markets tipped Egypt as the market that will “perform best in MENA and frontier markets in 2017 in USD terms.” […]
Posted inON THE HORIZON
On the horizon
The House of Representatives’ Housing Committee will be voting on the State Contractors Act in a plenary session next Monday, after giving a preliminary nod to the bill on Monday, Al Mal reports. The legislation will compensate suppliers and contractors for FX losses incurred after the EGP float and has been in the works since […]
Posted inEnterprise+: Last Night’s Talk Shows
CI Capital IPO postponed to 1Q18; FX concerns still loom over talking heads
CI Capital’s IPO, which was slated for 2017, might be postponed to 1Q18, CEO Mahmoud Attallah tells Hona Al Asema’s Lamees Al Hadidi. Speaking on the sale of CI Capital, Attallah said that the after the Egyptian Financial Supervisory Authority (EFSA) approved requests from 12 out of 15 interested investors, with the remaining three investors […]
Posted inSpeed Round
Investment disputes settlement committee reaches settlement with Utsch in arbitration cases filed against Egypt -Exclusive
The Ministerial Committee for Settlement of Investment Disputes is finalizing a draft settlement agreement with Germany’s Utsch AG over its international arbitration case filed against Egypt, Committee Chairman Deputy Justice Minister for Arbitration and International Disputes Moustafa El Bahabety told Enterprise exclusively. The background: The case dates back to what was known as the “license […]
Posted inSpeed Round
Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time
Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time, Al Ahram reports, citing unnamed Finance Ministry sources. According to Deputy Finance Minister Mohamed Maait, the increase in the budget is due in large part to fulfilling the constitutional requirement on health and education spending. The EGP float also drove up […]
Posted inSpeed Round
Egypt seeing positive impact of devaluation, employment will be slower to rebound
Emirates NBD Global Chief Economist and Head of Research Tim Fox follows up on the PMI results by saying Egypt is starting to see the benefits of the “bold step” of devaluation in terms of improved confidence, inflows into the country, and export orders looking “pretty firm.” Fox tells Bloomberg TV the EGP will consolidate […]
Posted inSpeed Round
CBE says remittances since flotation increased by 19.7% y-o-y, up 23% in January
The Central Bank of Egypt announced that preliminary data shows remittances of Egyptians abroad having increased by 23% y-o-y in January to USD 1.6 bn, according to an emailed statement. The CBE says the remittances in January 2016, prior to the flotation of the EGP, were USD 1.6 bn and notes that remittances in the […]
Posted inSpeed Round
Consumer Protection Act will impose stricter penalties on hoarding of goods
The Consumer Protection Act will enact more stringent penalties for hoarding and price gouging, warned Prime Minister Sherif Ismail. He added that further restrictions are also in place against hoarding commodities without elaborating further on the details, AMAY reports. The move is part of a series of amendments to the legislation by the government to […]