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Electronics retailer BTECH is looking to issue more than EGP 1 bn worth of securitized bonds before the end of 2022 to finance its consumer finance operations, BTECH CEO Mahmoud Khattab said (watch, runtime: 48:36) The issuance is part of a plan to issue securitized bonds worth EGP 8-9 bn within the next five years, […]
Author Archives: enterpriseam admin
Posted inTransport
Egyptian National Railways lands funding from EIB, AFD
We’re getting EUR 316 mn from European development partners for railway upgrades: The European Investment Bank and the French Development Agency (AFD) have signed agreements with the Egyptian government to help finance upgrades to the Tanta-Mansoura-Damietta railway line, according to the EIB’s website and an AFD statement (pdf). The EIB is extending an EUR 221 […]
Posted inEARNINGS WATCH
OC revenues up 20% y-o-y in 9M 2022
Orascom Construction (OC) reported a 20.1% y-o-y rise in revenues to USD 3.05 bn in 9M 2022, according to its latest earnings release (pdf). Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to post USD 1.1 bn in […]
Posted inLAST NIGHT’S TALK SHOWS
Last Night’s Talk Shows: 20k expats register on car import scheme app
It was a mixed bag on the talk shows yesterday, with the talking heads focusing on the expat car import scheme, the USD-EGP exchange rate, and naturally, the football. Some 21.6k expats have registered on the government’s app to import cars since it launched on 15 November, Customs Authority boss El Shahat El Ghatwary told […]
Posted inEGYPT IN THE NEWS
Egypt in the News: Our economy “not out of the woods” yet, says Reuters
Reuters is reporting that our economy is still in choppy waters even after reaching an agreement with the IMF for a USD 3 bn bailout package last month. The newswire says investors remain wary of the Egyptian market given our high debt servicing bill against the backdrop of an FX shortage and further expected weakening […]
Posted inPLANET FINANCE
Is a regulatory crackdown on Big Crypto on its way?
The regulators are coming for crypto ‘conglomerates’ in the wake of the FTX crash: A fire has been lit under regulators looking to bring some order to the world of crypto by the unraveling of the FTX platform, Jean-Paul Servais, the new head of global securities watchdog IOSCO, told Reuters in an interview. IOSCO plans […]
Posted inDiplomacy
European Parliament, local MPs exchange harsh words over human rights
The EU isn’t happy with our human rights record: The European Parliament last week released a resolution criticizing Egypt’s human rights record and calling for a “review of the EU’s relations with Egypt in light of the very limited progress on Egypt’s human rights record and of its crackdown on dissent, despite continuing support from […]
Posted inCALENDAR
NOVEMBER 20 November-18 December (Sunday-Sunday): 2022 Fifa World Cup, Qatar. 27 November (Sunday): Senate in session. 27-28 November (Sunday-Monday): The first edition of the Egypt Media Forum. 27-30 November (Sunday-Wednesday): Cairo ICT and Pafix, Egypt International Exhibition Center, New Cairo. 29 November - 6 December (Tuesday-Tuesday): US and Russia to hold talks on resuming mutual […]