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Everyone wants a piece of Pachin: Compass Capital has submitted a non-binding offer to purchase between 51-90% of Paint and Chemical Industries (Pachin) for EGP 30 a share, according to a disclosure to the EGX (pdf) from the Financial Regulatory Authority yesterday. Compass’ offer values Pachin at EGP 720 mn. The bids are hotting up: […]
Author Archives: enterpriseam admin
Posted inM&A WATCH
Bank ABC and Blom Bank Egypt are now one
Bank ABC and Blom Bank Egypt are now a single entity: Bahrain’s Bank ABC has completed the legal merger of Bank ABC Egypt and Blom Bank Egypt, following its acquisition of 99.5% of Blom Bank Egypt, the buyer said in a statement yesterday. This has been at least two years in the making: The two […]
Posted inLAST NIGHT’S TALK SHOWS
Talking 25% CDs
The new one-year, 25% certificate of deposit (CDs) by Banque Misr and the National Bank of Egypt dominated the talk shows yesterday. Banque Misr Chairman Mohamed El Etreby held phone calls with most of the talking heads, explaining the decision and its intended effects on the parallel market and inflation. We have full coverage in […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inPLANET FINANCE
US Fed hints at a slowdown — but no pause — in rate hikes at next meeting
The Fed suggests coming rate hikes may be smaller: US Federal Reserve officials agreed to slow the pace of rate hikes moving forward to minimize recession risks, according to the newly released minutesof their December meeting — suggesting the Fed could go for a 25-basis-point hike when it next meets at the end of this […]
Posted inMy Morning Routine
My Morning Routine: Hisham Ghorab, co-founder and managing partner, Style Design
Hisham Ghorab, co–founder and managing partner, Style Design: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Hisham Ghorab, co–founder and managing partner at architecture and design […]
Posted inCALENDAR
JANUARY January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time. 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. 7 January (Saturday): Coptic Christmas. 8 January (Sunday): National […]
Posted inWHAT WE’RE TRACKING TONIGHT
THIS EVENING: New 25% certificates from Banque Misr, NBE + PMI contraction softened in December + Pachin gets another suitor
Good afternoon, friends, and welcome to what has shaped up to be a brisk news day, suggesting the new year lull is good and well behind us. PSA- Private sector + EGX will be off on Sunday: The private sector will be off next Sunday, 8 January in observance of Coptic Christmas, the Manpower Ministry […]