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Daesh has claimed to have killed and wounded 20 Egyptian soldiers during four days of clashes with the military in North Sinai, The Associated Press reports. The news has yet to make the domestic press.
Author Archives: enterpriseam admin
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.7619 | Sell 18.8896 EGP / USD at CIB: Buy 18.701 | Sell 18.801 EGP / USD at NBE: Buy 18.7 | Sell 18.75 EGX30 (Tuesday): 12,672.49 (-1.96%) Turnover: EGP 1.394 bn (221% above the 90-day average) EGX 30 year-to-date: +2.653% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
26 January - 10 February (Thursday-Friday): Cairo International Book Fair, Nasr City fairgrounds. 30 January - 01 February (Monday-Wednesday): Beltone Financial’s Africa’s Era, Egypt’s Moment Conference, Cairo. 30 January - 02 February 2017 (Monday-Thursday): Arab Health Exhibition, Dubai International Convention & Exhibition Center, UAE. 05 February (Sunday): Emirates NBD PMI Egypt release. 08 February (Wednesday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 30 January 2017
It’s a good morning for: Egypt. The Grand Ethiopian Renaissance Dam isn’t going to miraculously disappear overnight, but we took what could be an important step toward normalization of relations after President Abdel Fattah El Sisi and Ethiopian Prime Minister Hailemariam Desalegn issued a joint statement yesterday (pdf). Notably, Desalegn will visit Egypt “in the […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The cabinet shuffle expected this week might not include ministers from the economic group, sources told Al Borsa. As readers have probably noticed, we would be very much down with that. Also expected this week are the long-awaited executive regulations of the value-added tax, according to statements by Finance Minister Amr El Garhy. Russian aviation […]
Posted inEnterprise+: Last Night’s Talk Shows
Talking heads still on Trump, armored cars scandal; shakeup at the Interior Ministry; Adib looking to remodel
It was a mixed bag on last night’s talk shows. US President Donald Trump’s “Muslim ban” continued to get attention from the talking heads last night. Al Hayah Al Youm host Lobna Assal spoke with former Assistant Foreign Minister and MP Mohamed El Oraby, who said Trump’s executive order is “racist and it contradicts all […]
Posted inSpeed Round
RenCap bullish on Egypt, sees growth accelerating to 6% from FY2018-19
Egypt is the second “Trump trade” after Russia, Charles Robertson, Renaissance Capital’s global chief economist, believes, according to an emailed research report. Robertson remains bullish on Egypt following an investor trip to Cairo as he believes the government has shown zeal in implementing reforms and it is being supported by international financial institutions. He says […]
Posted inSpeed Round
Gov’t has no plans to make another int’l bond issue this year
The government has no intention of moving forward with another international bond issue this fiscal year on the back of the successful USD 4 bn eurobond sale, Deputy Finance Minister Ahmed Kouchouk tells Al Borsa, adding that Egypt reserves right to tap markets again should the need arise. That dovetails with Finance Minister Amr El […]
Posted inSpeed Round
Tarek Amer rejects talks with Saudi over deposit repayment, says Egypt paid Paris Club
And while we’re on sovereign debt, CBE governor Tarek Amer denied reports that Egypt is in talks with the Saudi government to extend a USD 500 mn deposit. He didn’t delve into the issue, saying only that no talks are underway. Saudi Arabia has USD 8 bn in deposits in Egypt by Al Borsa’s count […]