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JANUARY January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power. January: Global Auto to restart BMW assembly in Egypt. 16-20 January (Monday-Friday): Davos 2023. 26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center. 25 January (Wednesday): 25 January revolution […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
THIS MORNING: USD inflows rise to our local FX market
Good morning, wonderful people, and a very happy hump day. THE BIG STORY here at home this morning is the central bank’s announcement of an upswing in foreign inflows to local banks through the local foreign exchange market and other sources in recent days, helping to clear the imports backlog at ports. Read on directly […]
Posted inUncategorized
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Posted inM&A WATCH
HCCD reportedly in talks to sell land to Gulf investors
Gulf investors are reportedly interested in HCCD’s land bank, assets: The state-owned parent of Heliopolis Housing is in talks with Gulf investors to sell off land and other assets, Bloomberg Asharq reported Sunday, citing two sources familiar with the matter. The investors are negotiating with the Holding Company for Construction and Development (HCCD) to acquire […]
Posted inInfrastructure
Five consortiums bid to build three cooking oil complexes
Five local and international consortiums have submitted offers to establish three cooking oil complexes with investments of up to USD 321 mn, a Supply Ministry source told Enterprise, confirming comments attributed to Supply Minister Ali El Moselhy by local media. Our source declined to disclose the names of the bidding companies. The offers come amid […]
Posted inEnergy
Elsewedy Electric to build 300 MW solar station in Saudi Arabia + Eni’s Descalzi sits down with El Sisi
Elsewedy Electric is upping its solar energy game: Elsewedy Electric for Transmission and Distribution, a subsidiary of Elsewedy Electric, signed a USD 176.1 mn turnkey contract to build a 300-MW solar power station for Saudi Arabia’s Al Ghazala Energy, according to a statement(pdf) by the company. Elsewedy “will mainly focus on the design, supply and […]
Posted inLEGISLATION WATCH
The House greenlights a batch of development loans, grants + a bill allowing fresh oil exploration in North Sinai
The House of Representatives approved a set of development loans and grants yesterday in food security, infrastructure, education, and healthcare. A USD 271 mn loan from the African Development Bank to boost food security and resilience this fiscal year in the wake of supply shocks brought on by the Russia-Ukraine conflict. A USD 13 mn […]
Posted inLAST NIGHT’S TALK SHOWS
Subsidized bread for all
A new scheme offering subsidized bread to all is set to launch tomorrow: People not covered by the ration card system will be able to buy bread from bakeries at cost in a trial of the new scheme that will kick off on Wednesday, Supply Minister Ali El Moselhy was quoted as saying by Reuters […]