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Abu Ahmed and the rest of his army in the People’s Democratic Republic of Maadi are up with the roosters and in the streets. Some are clad in overalls and rain boots, others in their ‘emmas and galabeyas. Their weapon of choice: the water hose, which they wield in fulfillment of their duties at any […]
Author Archives: enterpriseam admin
Posted inTHE ENTERPRISE ENTERTAINMENT CALENDAR
FEBRUARY 7 February-1 March (Tuesday-Wednesday): Zāt exhibition, Safarkhan Art Gallery, Zamalek. 15 February-2 March (Wednesday-Thursday): Naguib Mahfouz Festival, Zawya Cinema, Downtown Cairo. 24 February (Friday): Hamza Namira performs at The Marquee in Cairo Festival City, New Cairo. 24-25 February (Friday-Saturday): She Crafts bazaar from 12-8 pm, the Grand Nile Tower Hotel, Garden City. 24-25 February […]
Posted inWhat We're Tracking Today
THIS MORNING: The SCZone could be heading to China + BasharSoft just trialed a four-day work week — and the results were impressive
Good morning, wonderful people, and happy THURSDAY. We have an absolutely packed issue for you this morning — one that sees us ending the week in a slightly better mood than we began it. Why? A handful of healthy signals. #1- The Finance Ministry’s maiden sukuk issuance has closed 4x oversubscribed. We’re not delighted to […]
Posted inAdvertiser
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Posted inDEBT WATCH
Egypt’s debut USD 1.5 bn sovereign sukuk issuance wraps 4x oversubscribed
Egypt closes USD 1.5 bn sukuk issuance: The Finance Ministry successfully closed its maiden sukuk issuance yesterday morning, it said in a statement. The USD 1.5 bn issuance was c.4x oversubscribed, attracting an order book of USD 6.1 bn, the ministry said. This narrowed the final yield to 10.875% from an initial guidance price of […]
Posted inPrivatization
State-owned hotels company will offer 20% to strategics — and 5% on the EGX. PLUS: Misr Life sale update
Twenty-five percent of new hotels company up for grabs: The government will offer a 20% stake in its new hotels company to strategic investors, followed by an offering of 5% on the bourse, Public Enterprises Minister Mahmoud Esmat told Asharq Business in an interview (watch, runtime: 1:20). The government has finished transferring hotels to the […]
Posted inPrivatization
Valuation dispute puts Saudi United Bank acquisition at risk
Saudi wealth fund takeover of United Bank in jeopardy? The Public Investment Fund (PIF) has reportedly hit ‘pause’ on talks for the acquisition of state-owned United Bank due to a dispute over its valuation, Bloomberg and Reuters reported yesterday, citing sources they claim are familiar with the matter. The two sides have reportedly not been […]
Posted inM&A WATCH
Almarai now owns 100% of Beyti
Saudi’s Almarai buys PepsiCo out of Beyti: Saudi dairy producer Almarai has bought PepsiCo’s entire 48% stake in the parent company of juice and dairy producer Beyti for SAR 255 mn (c. USD 68 mn), it said in a disclosure to the Saudi stock exchange on Sunday. Almarai now owns 100% of International Dairy and […]
Posted inInvestment Watch
Stellantis, Nissan and Mansour could invest USD 145 mn in local assembly
Stellantis, Nissan and Al Mansour Automotive could invest a total of USD 145 mn in the nation’s auto industry over the next three years under individual framework agreements signed with the government earlier this month, Prime Minister Moustafa Madbouly said yesterday. If all three agreements are executed, the companies would produce a total of 60k-70k […]
Posted inStartup watch
Tabby puts Egypt business on ice on economy woes + Big Bosta news
Egypt team will continue to support operations in other core markets