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e-Finance had a strong 2022: e-Finance’s adjusted net income rose 83% to EGP 948.6 mn in 2022, according to the company’s earnings release (pdf). Revenues came in at EGP 2.6 bn, up 35% y-o-y. In 4Q, the state-owned tech company’s adjusted net income jumped 67% y-o-y to EGP 232.7 mn on a 6% increase in […]
Author Archives: enterpriseam admin
Posted inLAST NIGHT’S TALK SHOWS
The AAST is promising ultra-cheap, locally-assembled EVs
It was a mixed bag on talk shows yesterday: Kelma Akhira’s Lamees El Hadidi discussed Egypt’s debut sukuk issuance with Tarek El Metwally, the former head of Blom Bank Egypt (more on this in the news well above), Transport Minister Kamel El Wazir made an appearance on Ala Mas’ouleety to talk about new capital transport […]
Posted inAlso on our Radar
More natgas filling stations + Cartona eyes KSA debut
AUTOMOTIVE- More natgas filling stations: The number of natural gas filling stations has risen more than fourfold since 2020 to more than 900, as part of the state’s push towards converting traditional vehicles to run on natgas, Oil Minister Tarek El Molla said in a statement yesterday. The state is working to build as many […]
Posted inPLANET FINANCE
US stocks fall on rate fears
US stocks just had their worst day in two months: Shares on Wall Street suffered their heaviest single-day loss since December yesterday amid investor concerns that interest rates could rise further than expected. Treasury yields rose sharply and the benchmark S&P 500 fell 2% yesterday following a string of economic data that suggests the Federal […]
Posted inDiplomacy
Closer ties with Uzbekistan
The meeting came on the last day of the Uzbek president's visit
Posted inAROUND THE WORLD
Controversial judicial reform advances in Israel despite mass protests
Israeli MPs shrug at protests over judicial reforms: Israeli MPs pushed ahead with a controversial overhaul of the justice system pushed by Prime Minister Benjamin Netanyahu’s far-right government despite mass protests, AFP reported. In the first reading, the Knesset voted by 63 to 47 in favor of the reforms, which would hand politicians more control […]
Posted inCALENDAR
FEBRUARY 19 February-11 March (Sunday-Saturday): 2023 Africa U20 Cup of Nations, Egypt, various locations. 23-27 February (Thursday-Monday): Annual Business Women of Egypt’s Women for Success conference. 23 February (Thursday): Telecom Egypt to announce its 2022 results. 24-26 February (Friday-Sunday): The Egyptian Private Equity Association and the African Private Equity and Venture Capital Association are hosting […]
Posted inWHAT WE’RE TRACKING TONIGHT
THIS EVENING: Egypt closes its maiden sukuk issuance with a c.4x oversubscription
Good afternoon, ladies and gentlemen. It’s a brisk news day as we get closer to the weekend here in Omm El Donia. THE BIG STORY TODAY- Egypt closes its USD 1.5 bn sukuk issuance: The Finance Ministry successfully closed its maiden sukuk issuance on the London Stock Exchange (LSE) this morning, according to a statement. […]