{"id":582537,"date":"2023-03-09T00:00:00","date_gmt":"2023-03-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/this-evening-egx-looking-at-new-temporary-listings-inflation-surges-in-february-cbe-hikes-instapay-transaction-limits\/"},"modified":"2023-03-09T00:00:00","modified_gmt":"2023-03-09T00:00:00","slug":"this-evening-egx-looking-at-new-temporary-listings-inflation-surges-in-february-cbe-hikes-instapay-transaction-limits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/this-evening-egx-looking-at-new-temporary-listings-inflation-surges-in-february-cbe-hikes-instapay-transaction-limits\/","title":{"rendered":"THIS EVENING: EGX looking at new temporary listings + Inflation surges in February + CBE hikes InstaPay transaction limits"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Happy THURSDAY, friends.<\/span><span style=\"\"> We\u2019re wrapping up the first full workweek of March with a whole<\/span><span style=\"font-weight:400;\"> lot of big news stories on the home front, making us all the more grateful that the weekend is just a few short hours away. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">#1- Are we about to see a fresh batch of temporary listings on the EGX?<\/span><span style=\"\"> The<\/span><span> bourse is reportedly studying temporary listings for four companies, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3ZwRbQM\" style=\"\">Asharq Business<\/a><\/span><span> reports, citing Financial Regulatory Authority (FRA) boss Mohamed Farid, without specifying which companies are under study. The listings would, if executed, bring the total number of companies temporarily listed on the EGX to seven. The FRA had introduced new listing rules back in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/14\/listing-on-the-egx-just-got-a-little-easier-a-boost-to-margin-trading-81143\/\" style=\"\">September<\/a><\/span><span> that allow companies to \u201ctemporarily\u201d list their shares on the EGX for six months as they work to meet listing requirements.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- Inflation surged faster than expected in February to hit new five-year highs<\/span><span style=\"\">, on the<\/span><span style=\"font-weight:400;\"> back of hikes in fuel prices and the continued depreciation of the EGP. Annual urban inflation rose 31.9% y-o-y in the second month of the year, up from 25.8% in January, according to figures from state statistics agency Capmas. This is the highest rate since August 2017 and is up from just 10% in February 2022. The uptick was primarily driven by food prices, which have increased 61.8% y-o-y. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#3- You can now send more money through InstaPay<\/span><span style=\"\">, after the Central Bank of Egypt (CBE)<\/span><span> raised the limit for each transaction to EGP 70k, from EGP 50k previously, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/InstaPay-limits-March2023.pdf\" style=\"\">a circular (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The daily transaction limit on the CBE\u2019s national digital payments app will become EGP 120k, up from EGP 60k previously, while monthly transactions will be capped at EGP 400k, rising from EGP 200k. The new limits come into effect next Wednesday, 15 March.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The global business press continues to lead this afternoon with JPMorgan\u2019s lawsuit<\/span><span style=\"font-weight:700\"> against its former investment banking chief<\/span><span>, Jes Staley, who had ties to pedophile financier Jeffrey Epstein. The story is still getting top billing from the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/329d3fa5-8715-4a8b-a9a8-f8c870adb26f\" style=\"\">Financial Times<\/a><\/span><span>, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/jpmorgan-sues-former-executive-jes-staley-over-jeffrey-epstein-ties-7c7309e4\" style=\"\">Wall Street Journal<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/09\/jpmorgan-chase-sues-former-senior-banker-with-ties-to-jeffrey-epstein.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">It\u2019s getting easier (and less expensive) for investors to acquire Egyptian citizenship:<\/span><span> In its latest attempt to secure much-needed hard currency, the Madbouly government has come out with an expanded and more generous <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/09\/in-a-bid-to-attract-fdi-the-govt-is-making-it-easier-to-acquire-citizenship-99194\/\" style=\"\">citizenship-for-FX program<\/a><\/span><span style=\"font-weight:400;\"> that would allow foreigners additional paths to Egyptian citizenship.<\/span><\/li>\n<li><span style=\"font-weight:700\">Could the gov\u2019t field offers for up to 20% of TE in the next two weeks?<\/span><span> The government reportedly <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/09\/could-investors-submit-bids-for-te-before-ramadan-99195\/\" style=\"\">hopes to wrap up a roadshow<\/a><\/span><span style=\"font-weight:400;\"> and receive offers for a 10-20% stake in national telecoms provider Telecom Egypt (TE) before the start of Ramadan. <\/span><\/li>\n<li><span style=\"font-weight:700\">Pachin is waiting on more offers before it moves forward with a sale:<\/span><span> The shareholders of Paint and Chemical Industries (Pachin) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/09\/pachin-expects-fresh-bids-after-nph-ups-its-offer-99196\/\" style=\"\">will not consider<\/a><\/span><span style=\"font-weight:400;\"> National Paints Holding\u2019s revised acquisition offer until the two other bidders in the race respond to the latest from the Emirati company. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">? CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We have a date for CIFF:<\/span><span style=\"\"> The Cairo International Film Festival (CIFF) will kick off at the <\/span><span>Cairo Opera House on Wednesday 15 November and run through to Friday 24 November, the festival\u2019s admins said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3kFvEX6\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> last week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Thanaweya Amma exam schedules are out: <\/span><span style=\"\">Thanaweya Amma exams are scheduled <\/span><span>to take place between 12 June and 15 July, the Education Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MomhExv4yWhogyCoY77i4QPaocEt1zS2uR4BR6pjLQZ8rw8mG5AcPjKXZNfCbv5Rl\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> last month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egypt is playing host to PPP MENA Forum: <\/span><span style=\"\">The two-day <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pppmenaforum.com\/\" style=\"\">Public-Private Partnership MENA<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pppmenaforum.com\/\" style=\"\">Forum<\/a><\/span><span> kicks off at the Nile-Ritz Carlton in Cairo on 19 March, bringing together over 300 regional and international PPP players to discuss new partnership models and projects to advance the region\u2019s socio-economic growth. Discussions held under the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LcD6Bn3W3GLAsWcsoEtcs4HKvYUZcNh5H6FXZe3SUgA2ArfVzoLn4MPRA4QrKPdel\" style=\"\">patronage of Prime Minister Moustafa Madbouly<\/a><\/span><span> will include policies for infrastructure projects, private funding for national projects, governance, and best practices.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- Make some outdoor plans this weekend and soak up the<\/span><span style=\"font-weight:700\"> sun:<\/span><span> We\u2019re sliding into some beautiful weekend weather, with daytime highs of 28<\/span><span style=\"font-weight:400;\">\u00b0C both tomorrow and Saturday. The mercury is expected to dip to 13\u00b0C tomorrow and 17\u00b0C on Saturday, our favorite weather app tells us. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy THURSDAY, friends. We\u2019re wrapping up the first full workweek of March with a whole lot of big news stories on the home front, making us all the more grateful that the weekend is just a few short hours away. THE BIG STORIES TODAY #1- Are we about to see a fresh batch of temporary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582538,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[271,68,633,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-central-bank-of-egypt","tag-egx","tag-enterprisepm","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"dca8076b-d43e-4678-aa5b-d53040c8bfd3","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/10\/newspaper-reading-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582535],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.b33f7aa4-9a17-41d1-9fad-55db8e4d5e40.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: EGX looking at new temporary listings + Inflation surges in February + CBE hikes InstaPay transaction limits - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/this-evening-egx-looking-at-new-temporary-listings-inflation-surges-in-february-cbe-hikes-instapay-transaction-limits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: EGX looking at new temporary listings + Inflation surges in February + CBE hikes InstaPay transaction limits\" \/>\n<meta property=\"og:description\" content=\"Happy THURSDAY, friends. We\u2019re wrapping up the first full workweek of March with a whole lot of big news stories on the home front, making us all the more grateful that the weekend is just a few short hours away. 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We\u2019re wrapping up the first full workweek of March with a whole lot of big news stories on the home front, making us all the more grateful that the weekend is just a few short hours away. 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It sounds like\u2026 the weekend. Afternoon, ladies and gents, and kudos to you for making it through a short-but-packed workweek. We\u2019ve got a brisk issue for you today, featuring a review of an Egyptian phone that seems able to hold its own against the big\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/4\/488.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580538,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/this-evening-new-25-certificates-from-banque-misr-nbe-pmi-contraction-softened-in-december-pachin-gets-another-suitor\/","url_meta":{"origin":582537,"position":1},"title":"THIS EVENING: New 25% certificates from Banque Misr, NBE + PMI contraction softened in December + Pachin gets another suitor","author":"enterpriseam admin","date":"4 January 2023","format":false,"excerpt":"Good afternoon, friends, and welcome to what has shaped up to be a brisk news day, suggesting the new year lull is good and well behind us.PSA- Private sector + EGX will be off on Sunday: The private sector will be off next Sunday, 8 January in observance of Coptic\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/597.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/","url_meta":{"origin":582537,"position":2},"title":"THIS MORNING: Farid signals new listings, stake sales are in the offing \u2014 and there\u2019s still no ceasefire in Gaza","author":"enterpriseam admin","date":"19 May 2021","format":false,"excerpt":"Good morning, everyone. The big news here at home this morning: We could see as many as five more companies offering shares on the Egyptian Exchange before the year is out. EGX boss Mohamed Farid did not specify yesterday how many of the transactions were likely to be initial public\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596775,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/egypt-mulling-tax-incentives-for-prospective-egx-listings\/","url_meta":{"origin":582537,"position":3},"title":"Egypt mulling tax incentives for prospective EGX listings","author":"enterpriseam admin","date":"8 July 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t mulling tax incentives for prospective EGX listings: The government is studying a proposal to provide tax breaks to companies that decide to list shares on the stock exchange as part of a strategy to drive new listings and increase market capitalization, government sources told us. The proposal could\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595366,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/govt-committee-close-to-finalizing-incentives-package-for-new-listings-on-egypts-bourse\/","url_meta":{"origin":582537,"position":4},"title":"Gov\u2019t committee close to finalizing incentives package for new listings on Egypt\u2019s bourse","author":"enterpriseam admin","date":"24 September 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t committee close to finalizing package of incentives for new EGX listings: A government committee has been working to put the final touches on a package of proposed incentives to stimulate IPO activity in the market and attract more foreign investment into Egyptian equities, the Finance Ministry told Enterprise\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591739,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/egx-struggles-on-low-trading-volumes-lack-of-new-listings\/","url_meta":{"origin":582537,"position":5},"title":"EGX struggles on low trading volumes, lack of new listings","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"EGX struggles on low trading volumes, lack of new listings: Egyptian equities are struggling to attract investors due to low trading volumes and a lack of new listings, analysts tell Reuters\u2019 Arabic service. 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