Misr Ins. wants all of Misr Healthcare: Misr Ins. Holding is in talks to acquire a 20% stake in third-party claims management outfit Misr Healthcare Network held by the UAE’s Global Capital Investments, sources with first-hand knowledge of the matter told Enterprise yesterday. The acquisition will make Misr Ins. Holding the sole shareholder in Misr […]
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Heliopolis Housing is putting its Heliopark project back out to tender
Mountain View is no longer on board to co-develop Heliopark: Heliopolis Housing has scrapped plans to co-develop its Heliopark project in New Cairo with Mountain View, saying in a statement that “current economic conditions and the remarkable rise in land valuations witnessed by the real estate market” in recent months meant it would no longer […]
Pundits parse El Sisi’s Police Day speech on the economy
The state of the economy — and what got us here — once again got top billing on the airwaves last night, as the talking heads parsed a speech by President Abdel Fattah El Sisi yesterday during an event to mark Police Day. El Sisi defends infrastructure spending: El Sisi cast as “misleading” claims that […]
More of the same news on the economy
It was a busier day for Egypt in the international press yesterday, with the spotlight still firmly fixed on our economy. Pondering privatization plans: In an op-ed for the Financial Times, Yezid Sayigh, senior fellow at the Malcolm H Kerr Carnegie Middle East Center in Beirut, praises plans to reduce military involvement in the economy […]
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CI Capital, Compass launch fund to invest in EGX-listed firms
CAPITAL MARKETS- CI Capital + Compass Capital plan EGP 2 bn equity fund: CI Capital and Compass Capital are launching a fund to invest in EGX-listed companies, with initial investments ranging between EGP 2-3 bn, unnamed sources reportedly told Asharq Business. The fund will be looking to acquire stakes of between 10-30% and is expected […]
Fed looks set for a smaller quarter-point hike next week
The Federal Reserve looks set to slow the tempo of its interest rate hikes for a second time at its next meeting after December data confirmed a slowdown in inflation, the Wall Street Journal reports. In recent statements, Fed officials have said they favor a 25-bps increase for the 31 Jan -1 Feb meeting — […]