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EGP / USD CBE market average: Buy 18.7462 | Sell 18.8986 EGP / USD at CIB: Buy 18.65 | Sell 18.75 EGP / USD at NBE: Buy 18.6 | Sell 18.7 EGX30 (Sunday): 12,722.08 (-0.66%) Turnover: EGP 994 mn (129% above the 90-day average) EGX 30 year-to-date: +3.055% THE MARKET ON SUNDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
22-31 January (Sunday-Tuesday): 28th African Union Summit, Addis Ababa, Ethiopia. 24 January - 26 January (Tuesday-Thursday): Global Oil & Gas Middle East and North Africa 2017, Cairo International Convention Center, Cairo. 25 January (Wednesday): Revolution (police) day, national holiday. 26 January - 10 February (Thursday-Friday): Cairo International Book Fair, Nasr City fairgrounds. 28-29 January (Saturday-Sunday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 22 January 2017
We hope you have stocked up on salt, because you will need it this month with all the rumors of the cabinet shuffle flying out the woodwork. Economic and sovereign ministers are reportedly among the list of 11 portfolios who will be replaced, government sources tell Al Shorouk. These include the ministers of investment, foreign […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The Meteorological Authority warns citizens of driving in the early mornings, as that heavy fog we’ve been seeing all week will intensify today and continue until Wednesday, Ahram Online reports. We don’t know about you, but we’re bridging this week. We’ll be taking Wednesday and Thursday off. It’s our last national holiday until 16-17 April, […]
Posted inON THE HORIZON
On the horizon
The IMF’s mission chief to Egypt, Chris Jarvis, will be visiting Egypt at the end of February to review and assess progress with the economic reform program. According to the fund’s schedule, the USD 1.25 bn second tranche of the USD 12 bn loan should be disbursed by 15 March, contingent on the results of […]
Posted inEnterprise+: Last Night’s Talk Shows
Adib channels The View in inauguration coverage; infant formula on the rise again; Finance Ministry adviser arrested for bribery
Amr Adib spent most of last night’s episode of Kol Youm covering the inauguration of US President Donald Trump on Friday. Adib spoke of the women’s marches which took place worldwide in opposition to Trump, saying, “The number of participants in these marches exceed the number of people attended the inauguration yesterday,” (watch; runtime: 3:25). […]
Posted inSpeed Round
Stock market stamp tax could be reintroduced, gov’t looking to suspend capital gains tax
Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters on Thursday. Reuters’ sources spoke after the IMF loan documents to Egypt said some form of a capital gains or stamp duty will be implemented in FY2017-18. "We are studying […]
Posted inSpeed Round
Finance Ministry will not taxation minimum income
Speaking of taxes, parliament and the government appear to not see eye to eye on raising the minimum annual income to be taxed to EGP 23,000 from EGP 13,500 (surprise, surprise). Deputy Finance Minister Amr El Monayer denied the ministry was preparing a draft to amend the Income Law to factor in the increase, Al […]
Posted inSpeed Round
Egypt is world’s 12 riskiest investor market, ranks 73 of 79 on WEF’s IDI
Egypt is the world’s 12th riskiest market on Bloomberg’s Global Risk Briefing for 2016. The Country Risk Score is calculated using indicators for various financial, economic, and political risks measured on a scale of 0-100, with the higher end representing less overall market risk. Egypt’s low score of 11.0 was the result of various factors, […]