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Good afternoon, wonderful people, and happy THURSDAY to us all. We’re ending the week with a relatively calm news day — save for a big step in the Madbouly cabinet’s privatization plans.
THE BIG STORY TODAY
Port Said Port operator heading to the EGX: The Suez Canal Economic Zone’s (SCZone) board of directors signed off today on selling a 20% stake in Port Said Container and Cargo Handling (PSCCHC) in an IPO on the EGX as part of the Madbouly government’s renewed privatization push, according to a cabinet statement. SCZone currently holds a 39% stake in PSCCHC. The Qatari Investment Authority and Abu Dhabi Ports had previously been in talks to acquire stakes in PSCCHC, along with Damietta Container and Cargo Handling.
THE BIG STORY ABROAD
Wildfire smoke spreading into the US from Canada are dominating headlines in the international press this afternoon. The smoke is spreading from Quebec, Nova Scotia, and Ontario due to low snowfall over the winter, followed by a dry spring and lightning. The resultant smoke is inhibiting vision, with authorities advising residents in the US and Canada to wear face masks and refrain from any outdoor activities. Associated Press | BBC | New York Times | Financial Times | ABC
** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- The Qatar Investment Authority (QIA) is reportedly close to acquiring a 25-30% stake in Vodafone Egypt from Telecom Egypt through the Qatari ruling family’s telco Ooredoo.
- A Saudi takeover in the cards for Heliopolis Housing? Heliopolis Housing and Development (HHD) has denied reports in the local media that Saudi real estate developer Alameriah is offering to buy a 70% stake in the company for USD 400 mn.
- AfreximBank helps finance three new jets for Air Cairo: CIAF Leasing has secured a USD 44 mn aircraft financing facility from the African Export-Import Bank (AfreximBank).
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ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things. Enterprise — the essential morning read on all the important news shaping business and the economy in Egypt and the region — is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.
We have tons more in the pipeline — come help us build new publications. We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.
Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.
That said, we're looking for gifted story-tellers from all walks of life and across all professions, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you’re an equities analyst tired of the rat race, we’re a great place to come work.
NEVER WORKED IN A NEWSROOM BEFORE? We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.
During the program you will learn:
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Not an internship program — a career: The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.
Apply directly to jobs@enterprisemea.com and mention “writing development program” in your subject line.
🌤️ TOMORROW’S WEATHER- We’re getting a mix of sun, clouds, and high temperatures this weekend, our favorite weather app suggests. Tomorrow’s daytime high is forecast at 40°C, while Saturday is expected to peak at 37°C. Both days will see nighttime lows of 22°C.
