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The suicide while in custody of the secretary-general of the Maglis El Dowla is the leading news item on Egypt, complete with the use of quote marks around “kills himself” (BBC) and “hanged himself” (Al Jazeera). Most major news outlets are picking up wire copy, particularly from Reuters). That could change in the days ahead: […]
Author Archives: enterpriseam admin
Posted inWHAT WE’RE TRACKING TODAY
EGP strengthens 4% to 18.3817 on Thursday
The EGP strengthened noticeably on Thursday, rising just over 4% to a market average sell rate of 18.3817 to the greenback from 19.1723 the day before. One day does not a trend make, but we confess to having breathed a sigh of relief.
Posted inWHAT WE’RE TRACKING TODAY
What Enterprise readers expect of 2017
Speaking of the exchange rate: More than 40% of you are budgeting for a USD : EGP exchange rate at EGP 18.51 or above, but only one third of you see the currency staying in that band by midyear. Our latest reader survey also found that almost half of you see your company or fund […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The first week of the new year looks like it might be a quiet one after all, with no major conferences or events scheduled as far as our radars can see except for Coptic Christmas on Saturday 7 January, which is a national holiday. We don’t expect the government will be giving us 8 January […]
Posted inON THE HORIZON
On the horizon
We’re going to be thinking a lot about 2017 in the days ahead, culminating with our publication early next week with our first-ever CEO Poll, which looks at what some of Egypt’s most high-profile chief executives expect of the new year. With that in mind, we have two international stories worth reading. The Wall Street […]
Posted inEnterprise+: Last Night’s Talk Shows
Ibrahim Eissa goes off air, ACA investigating bribery allegations at Maglis El Dowla
Ibrahim Eissa’s show has been pulled off air at his request, broadcaster Al Kahera Wal Nas said in a statement yesterday. Eissa will take time off to focus more on his writing, according to a statement carried by Al Masry Al Youm. Eissa also issued a statement, thanking the channel, the staff, and his viewers, […]
Posted inSpeed Round
Gov’t approves investment law draft
Habemus investment act: The Ismail cabinet approved the final draft of the investment act at its meeting last Thursday and sent it to the State Council (Maglis Al Dowla) for final review prior. The Council will then forward the law to the House of Representatives for debate. Investment Minister Dalia Khorshid said her ministry has […]
Posted inSpeed Round
CBE keeps interest rates on hold, allows companies to repay foreign currency debt over as many as to three years
CBE leaves interest rates unchanged, says it already moved preemptively: The central bank’s Monetary Policy Committee (MPC) decided to keep interest rates unchanged during its last meeting of 2016, moving with market expectation. The overnight deposit rate remains at 14.75% and the overnight lending rate at 15.75%. The CBE had increased rates by a total […]
Posted inSpeed Round
CBE reports USD 1.9 bn BoP surplus in 1Q2016-17
Egypt’s balance of payments (BoP) recorded a surplus of USD 1.9 bn in 1Q2016-17, driven primarily by a net inflow of USD 7.1 bn in the capital and financial account, the CBE reported. The trade balance in the three months ending September 2017 narrowed to USD 8.67 bn from USD 10.01 bn a year earlier […]