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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 […]
Author Archives: enterpriseam admin
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, […]
Posted inSpeed Round
EGX suspends QH transactions after stock price climbs 28%
The EGX cancelled all trades in Qalaa Holdings (QH) shares made yesterday prior to the company’s shares being suspended pending its explanation of why it believed its share price has surged of late, Al Borsa reports. Qalaa shares have been among the day’s top gainers in recent trading sessions with exceptionally high volumes. In a […]
Posted inSpeed Round
2016 was the worst year for portfolio flows to emerging markets since the global financial crisis
2016 was the worst year for portfolio flows to emerging markets since the global financial crisis trough of 2008, according to figures released yesterday by the Institute of International Finance (pdf). A “dismal” reading in December “cuts total net non-resident EM portfolio inflows for 2016 to just USD 28 bn — the weakest year since […]
Posted inTHE MACRO PICTURE
Summers and Eurasia Start the New Year With Dire Global Warnings
Donald Trump (who had an awfully good day yesterday between the Ford jobs announcement and his criticism of Republican lawmakers) is creating “major uncertainty” and the world is going into a period of “geopolitical recession.” Thank you, Bloomberg, for the not-so-rosy look at why 2017 may be a lot worse than many had feared. On […]
Posted inUncategorized
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