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The Madbouly government agreed in December to purchase hedging contracts to guard against volatility in the oil markets, Bloomberg Asharq reported yesterday, citing two government sources. “The oil and finance ministries are waiting for the appropriate timing to contract and implement hedging contracts,” one of the sources told the news outlet. The move comes after […]
Author Archives: enterpriseam admin
Posted inDEBT WATCH
Misr Italia closes second securitized bond issuance
Misr Italia Properties has closed its second EGP 986 mn securitized bond issuance, transaction advisor EFG Hermes said in a statement (pdf) yesterday. The details: The issuance is backed by a receivables portfolio from two of the real estate developer’s subsidiaries. Its three tranches received ratings ranging from AA+ to A from Middle East Rating […]
Posted inLEGISLATION WATCH
House signs off on green hydrogen, infrastructure, oil exploration bills
MPs greenlight port development, oil exploration + green hydrogen bills: MPs signed off on several bills yesterday, including legislation paving the way for the government to bring in private companies to develop container terminals and Eni to explore for oil in the Western Desert. Among the bills approved yesterday: #1- Ports: Two bills that would […]
Posted inManufacturing
Elsewedy Electric proposes EGP 20 bn industrial zone west of Cairo
Elsewedy Electric wants to build an industrial park in New 6 October City: Elsewedy Electric is in talks with the government to build a new industrial zone in New 6 October City and will soon look to draw up contracts for the project, according to a cabinet statement. The three-phase project could attract investments worth […]
Posted inLAST NIGHT’S TALK SHOWS
The Grand Egyptian Museum is to be inaugurated in “months”
It was a mixed bag on the talk shows last night, as the pundits celebrated the repatriation of a looted sarcophagus as well as another record-breaking year for Suez Canal revenues. The Grand Egyptian Museum will be inaugurated “within a few months,” Secretary-General of the Supreme Council of Antiquities Mostafa Waziri told Ala Mas’ouleety’s Ahmed […]
Posted inEGYPT IN THE NEWS
Looted sarcophagus back on home soil
A looted ancient sarcophagus displayed at the Houston Museum of Natural Sciences was handed over to Egypt by the US, the Associated Press reports. The sarcophagus was returned last week, more than three months after an investigation by the Manhattan District Attorney’s Office revealed that it was illegally smuggled into the country from Abusir Necropolis […]
Posted inUncategorized
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