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Capricorn’s board jumps before it’s pushed: The chair, CEO, and three other directors of Capricorn Energy’s board have resigned, caving to pressure from shareholders led by activist investor Palliser Capital to overhaul the company’s management and block a proposed merger with Israeli energy firm NewMed Energy. WHY DO WE CARE? Capricorn has a sizable portfolio […]
Author Archives: enterpriseam admin
Posted inBanking
It’s sayonara to high-yield CDs at the end of the month
Banque Misr and the National Bank of Egypt are pulling their one-year, 25% certificates of deposit after the end of January, according to emailed statements from the two banks. The high-yield savings products were introduced to the market on 4 January ahead of the EGP devaluation to help curb inflation and dollarization. They offer savers […]
Posted inPrivatization
Gov’t to decide on hotel privatization within two months
The Madbouly government plans to reassess which state-owned hotels will be merged into a new hotels company ahead of an offering to foreign and Gulf investors, a source in government told Enterprise. A decision will be made on which hotels to include within 6-8 weeks, the person said, adding that the rethink was triggered by […]
Posted inEducation
Badya GEMS school set for 2024 open
Palm Hill’s Badya compound is getting a GEMS school from 2024: The Egypt Education Platform (EEP) will open a GEMS-branded British school in Palm Hills Developments’ (PHD) Badya development in West Cairo, the real estate developer said in a statement (pdf) yesterday. The GEMS British International School of Badya will be the first international school […]
Posted inMoves
McKinsey’s new head in MENAP + Mopco’s new chair, MD
McKinsey appointed Hasan Muzaffer (LinkedIn) its new managing partner for the Middle East, Egypt, and Pakistan, the company said on LinkedIn. Since joining the consultancy in 2004, Muzaffar has advised sovereign wealth funds, private-sector firms and conglomerates on strategy, portfolio management, and risk. He’s a member of the firm’s Global Institutional Investing & Public Finance […]
Posted inLAST NIGHT’S TALK SHOWS
Indomania + industrial incentives
Indomania on the airwaves: President Abdel Fattah El Sisi’s arrival in India yesterday for a three-day visit dominated the airwaves last night, as the talking heads parsed the significance of El Sisi being the first Egyptian president to be honored as “chief guest” at celebrations to mark the country’s 74th Republic day. The visit got […]
Posted inEGYPT IN THE NEWS
It’s all archaeology
The mummies return: The international press is taking a break this morning from all the economy talk to catch us up on the latest in ancient Egyptian finds. Golden Boy: More than 49 gold amulets were placed inside the body of a previously unexamined mummy, researchers led by Cairo University radiology professor Sahar Saleem used […]