Back to the complete issue
Tuesday, 18 July 2017

What we’re tracking on 18 July 2017

Some banks have begun selling FX to private citizens without requiring travel documents in what Al Borsa says is a sign of improving availability of foreign exchange. Some banks surveyed were limiting sales to USD 2k per person, while others were reportedly selling with no limit.

CIT Minister Yasser El Kadi is in Paris for a two-day visit to meet with representatives from mobile network company Orange, Youm7 reports. No further details were provided, except that El Kadi will visit Orange Labs where he’ll learn more about the mobile operator’s R&D and incubation facilities.

The government is expected to sign today a non-binding agreement with certain industry associations that would urge private-sector companies to give raises to their employees. We have more on the agreement (probably the brainchild of the Union of Communist-Capitalist Friendship Society) in the Speed Round, below.

Keep your eye on this: “A long run of inflows to emerging market stocks and bonds is showing signs of faltering with cross-border flows turning negative last week for the first time since March,” the Financial Times reports. “Analysts said the data had more likely picked up a correction after several months of strong inflows rather than the beginning of a prolonged reversal.”

Our friend Andre Valavanis, investor relations officer at GB Auto, will contest the World Boxing Federation Intercontinental Welterweight Title today in a WBF championship twin-bill in Cairo.

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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.