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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Strong reserves report expected: The central bank is expected to tell us by Thursday how much reserves were in its coffers at the end of 2016, and we speculate it will be a pleasant surprise.
Posted inON THE HORIZON
On the horizon
Important to remember: The CBE will have to make a payment to its Paris Club creditors in January. Look for news on the eurobonds in the coming 2-3 weeks. We expect the Finance Ministry to announce Egypt’s planned USD 2.5-3 bn eurobond issuance sometime in the coming two to three weeks. Oh, and for those […]
Posted inEnterprise+: Last Night’s Talk Shows
Qalaa’s Ahmed Heikal holds forth with Lamees and the pharma flap remains in the spotlight on an otherwise slow news night
Qalaa Holdings Chairman Ahmed Heikal was optimistic about the future in an appearance last night with Lamees El Hadidy on CBC’s Hona Al Assema. In a lengthy discussion, the two discussed the economy and expectations of 2017. Heikal believes many factors support growth in Egypt — the shift to a more flexible currency regime, the […]
Posted inSpeed Round
EFG accelerates expansion of frontier markets drive, appoints Khalpey to head division
In frontier market push, EFG Hermes taps Exotix Africa co-founder Khalpey to lead EFG Hermes Frontier. EFG Hermes appointed Ali Khalpey to head EFG Hermes Frontier. Khalpey co-founded Exotix Africa LLP and has experience with Blackrock, Investec, and Renaissance Capital. His appointment comes as EFG looks to accelerate its drive into frontier markets and “will […]
Posted inSpeed Round
CPA refers Orange and Vodafone to prosecution over 4G services advertisements
The Consumer Protection Authority is asking prosecutors to investigate Orange Egypt and Vodafone Egypt over what it claims is “misleading” advertising of 4G services, Al Mal reports. The CPA alleges both companies have published promotions claiming to provide the “fastest 4G services in Egypt” despite neither having officially launched 4G service, said CPA chief Atef […]
Posted inSpeed Round
Pharma producers, gov’t disagree over how to define a chronic illness
How do you define a chronic illness? Pharma producers are facing another disagreement with the Health Ministry over which medications will be allowed to rise in price, Al Masry Al Youm reported. As part of the agreement that resolved the impasse, the Ministry stipulated that it will only increase the prices of medications that treat […]
Posted inSpeed Round
Parallel market will not magically disappear, but banks in control now -Amer
The “magic wand” that was the float of the EGP will not make the parallel market disappear entirely at an instant, CBE Governor Tarek Amer told Al Ahram’s economic paper. The banks are in control of the currency market now, he says, and the impact of the parallel market is minimal and tapering out. Amer […]
Posted inSpeed Round
Gov’t borrowing to rise 8.5% in third quarter, bias toward short-term instruments
Government borrowing will rise about 6.4% in the third quarter of the current state fiscal year to EGP 229 bn, according to Al-Borsa, which notes the Finance Ministry will be shifting toward short term instruments to finance the deficit — a logical move, says CI Capital analyst Hany Farahat, in view of current interest rates. […]
Posted inSpeed Round
SCZone’s “Pharma City” targets EUR 4 bn in investments over five years
The Suez Canal Economic Zone will feature a designated “Pharma City” targeting domestic and global manufacturers, Suez Canal Economic Zone chief Ahmed Darwish said yesterday as he announced the signing of a letter of intent to create an industry-specific hub he expects will attract EUR 4 bn in investments over five years, primarily from UK, […]