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More halawa, please: Leading confectionery producer El Rashidi El Mizan, a subsidiary of Saudi-owned investment group Olayan, will invest USD 150 mn in 2H 2023 to expand production in Egypt, Sherif William, the company’s director of commercial sales, told Al Borsa. The company will add six new production lines during the six-month period, which is […]
Author Archives: enterpriseam admin
Posted inMoves
Hisham Ezz El Arab appointed CIB’s non-executive chairman
Hisham Ezz El Arab is once again chairman of CIB: Our friend Hisham Ezz El Arab (LinkedIn) was appointed non-executive chairman of cIB last week, the bank said in a disclosure (pdf) to the EGX on Thursday. He succeeds Sherif Samy (LinkedIn), who held the position since October 2020 and will remain on the bank’s […]
Posted inLAST NIGHT’S TALK SHOWS
Morocco’s historic World Cup win + bread subsidies lead coverage on the talk shows
The airwaves were lit up red and green last night, with the talking heads dedicating much of the evening’s runtimes to covering Morocco’s famous win against Portugal in the World Cup quarter-final yesterday. Wearing a red blazer and a green scarf in a probable nod to the Moroccan flag, Kelma Akhira’s Lamees El Hadidi focused […]
Posted inEGYPT IN THE NEWS
People are relying on BNPL as inflation soars
It’s a slow morning in the pages of the international press. Among the stories worth your time this morning: Soaring inflation is forcing people to turn to BNPL: Quartz is out with a feature on how rising living costs are contributing to the growth of Egypt’s buy-now-pay-later market. Ancient artifacts coming home: An Irish university […]
Posted inUncategorized
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Posted inAlso on our Radar
Egypt buys more Russian wheat
COMMODITIES- State grains buyer GASC purchased 260k tons of Russian wheat directly from buyers at USD 354 per ton on a cost and freight basis, according to Agricensus. GASC made at least one other direct purchase of Russian wheat last month shortly after it canceled a tender due to high prices. TRADE- The government has […]
Posted inPLANET FINANCE
Taqa is now Masdar’s biggest shareholder
Mubadala sells majority stake in Masdar to Taqa + Adnoc: The UAE’s national oil company Adnoc and state energy firm Taqa have completed a transaction to take stakes in sovereign wealth fund Mubadala’s clean energy firm Masdar, according to ajoint statement out Thursday. Taqa is the largest shareholder of the company’s renewables business with a […]
Posted inDiplomacy
El Sisi talks everything from food, water, energy security to political stability in Riyadh
El Sisi calls for close Arab-China ties: President Abdel Fattah El Sisi called on the Arab world and China to strengthen ties at a summit in Saudi Arabia attended by Chinese President Xi Jinping on Friday, according to an Ittihadiya statement. The president said that Arab nations and Beijing will need to work more closely […]