Thursday, 21 June 2018

Enterprise is off today only — see you on Sunday

Speed Round

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Good morning, friends,

Enterprise is taking an editorial break today to give our various teams, who work at varying hours, a chance to meet to discuss all the stuff we have planned for the future — and how we can produce a better Enterprise for you today. We appreciate your patience, and we’ll return to our regularly scheduled programming on Sunday morning.

We leave you today with the ten stories and links you clicked the most in the past month:

Football dreams: Football star Mohamed Salah reassuring fans in a short Facebook video that he will play in what was ultimately an ill-fated Egypt-Russia game (watch; runtime: 1:00). The national team next plays on Monday at 4:00pm CLT against Saudi Arabia. It will be the last match for both teams.

Rising electricity prices: The Electricity Ministry’ detailed presentation (pdf) breaking down the new electricity prices.

A close third is Mo Salah again. This time it’s Sports Illustrated’s coverage of his shoulder injury.

Goldman Sachs’ excellent report on The World Cup and Economics 2018 (pdf).

Corporate divorce: The Wall Street Journal looks at “the Messy, Expensive Split Between Facebook and WhatsApp’s Founders” (paywall).

Never lose focus: Also from the Wall Street Journal: How Surgeons Stay Focused for Hours (paywall).

Work anywhere: The Wall Street Journal’s rundown on the gear you need to work from anywhere (watch; runtime: 2:45) and our thoughts on how one of us uses an iPad Pro to get gets 90% of his work done.

This talented Russian harp player’s beautiful rendition of the Egyptian national anthem (watch; runtime: 1:00).

Being over-protective of your child is wrong, it seems. Read: “Why not let them walk to school alone” (paywall).

Seven things Apple introduced [at WWDC] that could improve your life, courtesy of WSJ (paywall).

The Market Yesterday

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EGP / USD CBE market average: Buy 17.81 | Sell 17.91
EGP / USD at CIB:
Buy 17.81 | Sell 17.91
EGP / USD at NBE: Buy 17.78 | Sell 17.88

EGX30 (Wednesday): 16,143 (+0.5%)
Turnover: EGP 854 mn (xx% BELOW / ABOVE the 90-day average)
EGX 30 year-to-date: +7.5%

THE MARKET ON WEDNESDAY: The EGX30 ended Wednesday’s session up 0.5%. CIB, the index heaviest constituent ended down 0.2%. EGX30’s top performing constituents were Abu Dhabi Islamic Bank up 5.3%, Emaar Misr up 5.1% and Porto Group up 3.9%. Yesterday’s worst performing stocks were Arab Cotton Ginning down 4.8%, Elsewedy Electric down 3.0%, and Egypt Aluminum down 2.3%. The market turnover was EGP 851 mn, and foreign investors were the sole net sellers.

Foreigners: Net Short | EGP -29.3 mn
Regional: Net Long | EGP +17.3 mn
Domestic: Net Long | EGP +11.9 mn

Retail: 67.0% of total trades | 67.0% of buyers | 66.9% of sellers
Institutions: 33.0% of total trades | 33.0% of buyers | 33.1% of sellers

Foreign: 21.8% of total | 20.1% of buyers | 23.5% of sellers
Regional: 9.1% of total | 10.1% of buyers | 8.1% of sellers
Domestic: 69.1% of total | 69.8% of buyers | 68.4% of sellers

WTI: USD 66.22 (+1.77%)
Brent: USD 74.74 (-0.45%)
Natural Gas (Nymex, futures prices) USD 2.97 MMBtu, (+0.13%, July 2018 contract)
Gold: USD 1,270.40 / troy ounce (-0.32%)TASI: 8,166.30 (-1.26%) (YTD: +13.01%)
ADX: 4,550.29 (-0.25%) (YTD: +3.45%)
DFM: 2,922.57 (-0.57%) (YTD: -13.28%)
KSE Premier Market: 4,815.28 (+0.2%)
QE: 8,881.85 (-2.37%) (YTD: +4.21%)
MSM: 4,593.53 (+0.09%) (YTD: -9.92%)
BB: 1,301.13 (-0.47%) (YTD: -2.30%)

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Calendar

25 June (Monday): Egypt plays against Saudi Arabia at 2018 World Cup, Volgograd, Russia.

28 June (Thursday): CBE’s Monetary Policy Committee meeting.

1 July (Sunday): Application deadline for the DigitalAG4Egypt Challenge.

23 July (Monday): Revolution Day, national holiday.

16 August (Thursday): CBE’s Monetary Policy Committee meeting.

21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday.

04-05 September (Tuesday-Wednesday): Euromoney Egypt Conference 2018, Cairo.

10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London.

11 September (Tuesday): Islamic New Year (TBC), national holiday.

24-25 September (Monday-Tuesday): Arqaam Capital MENA Investors Conference 2018, Four Seasons Resorts, Dubai.

24-25 September (Monday-Tuesday): Egypt Water Desalination Forum, venue TBD.

27 September (Thursday): CBE’s Monetary Policy Committee meeting.

06 October (Saturday): Armed Forces Day, national holiday.

23-24 October (Tuesday-Wednesday): Intelligent Cities Exhibition & Conference 2018, Fairmont Towers Heliopolis, Cairo.

15 November (Thursday): CBE’s Monetary Policy Committee meeting.

20 November (Tuesday): Prophet’s Birthday (TBC), national holiday.

22 November (Thursday): US Thanksgiving.

25-28 November (Sunday-Wednesday): 22nd Cairo ICT, Cairo Convention Center, Nasr City, Cairo.

03-05 December (Monday-Wednesday): First Egypt Defense Expo, Egyptian International Exhibition Center, Cairo.

25 December (Tuesday): Western Christmas.

27 December (Thursday): CBE’s Monetary Policy Committee meeting.

01 January 2019 (Tuesday): New Year’s Day, national holiday.

07 January 2019 (Monday): Coptic Christmas.

25 January 2019 (Friday): Police Day, national holiday.

25 April 2019 (Thursday): Sinai Liberation day, national holiday.

29 April 2019 (Monday): Easter Monday, national holiday.

01 May 2019 (Wednesday): Labor Day, national holiday.

06 May 2019 (Monday): First day of Ramadan (TBC).

05-06 June 2019 (Wednesday-Thursday): Eid El Fitr (TBC).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2018 Enterprise Ventures LLC.