Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
CI Capital reported a 28% increase in revenues to EGP 2.5 bn in 9M 2022, it said in a statement (pdf) out this afternoon. Net earnings after tax and minority interest rose to EGP 486 mn, up 18% compared with the first nine months of 2021. The group’s investment bank “delivered solid results across all […]
Author Archives: enterpriseam admin
Posted inBIG TECH
Is this the beginning of the end for Big Tech — or the start of a reinvention?
The fallout from the pandemic is hitting the bottomlines of Big Tech. A slowdown in consumer spending, rising inflation, and the strong USD hitting overseas sales have all contributed to a slowdown in Big Tech, reports Bloomberg. Tech stocks have been among the hardest hit amid a wider downturn in the stock markets, with Microsoft, […]
Posted inCALENDAR
NOVEMBER 6-18 November (Sunday-Friday): Egypt will host COP27 in Sharm El Sheikh. 13-22 November (Sunday-Tuesday): Cairo International Film Festival (CIFF). 15-16 November (Tuesday-Wednesday): G20 summit, Bali, Indonesia. 20 November (Sunday): House of Representatives is back in session. 20 November-18 December (Sunday-Sunday): 2022 Fifa World Cup, Qatar. 22 November- 23 November (Tuesday-Wednesday): The Fingerprint Summit will […]
Posted inWhat We're Tracking Today
THIS MORNING: Two days left of COP27 and an agreement remains elusive
Good morning, friends. You may now rejoice: It is not just the last workday of the week, it is the final workday of COP27. We hope you’re looking forward as much as we are to some downtime this weekend. PSA- Your weekend weather forecast is excellent if you’re reading us in the capital city. Expect […]
Posted inUncategorized
2CELLOS — LIVE AT SOMABAY on 18 November, 2022: Mark your calendars — world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian […]
Posted inEnergy
A lot of renewables = a lot of investment to drum up
Initial agreements for green hydrogen and wind power projects worth up to USD 119 bn have been signed during COP27, according to figures published in a cabinet statement yesterday. The 28 GW worth of wind power Egypt has lined up will cost some USD 34 bn to put in place, while the nine green hydrogen […]
Posted inInvestment Watch
Infinity, Hassan Allam Utilities, Masdar ink 2 GW green hydrogen agreement + EBRD invests more in Infinity
Our friends at Infinity and Hassan Allam Utilities alongside UAE clean-energy giant Masdar have inked a framework agreement for a 2 GW green hydrogen plant they will build in the Suez Canal Economic Zone. The SCZone plant will be operational by 2026, they said in a statement (pdf). The investment case: “Egypt enjoys abundant solar […]
Posted inStartup watch
Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund
Modus’ new fund eyes African tech startups — including here: MENA-focused venture capital firm Modus Capital has launched a fresh USD 75 mn fund, dubbed Modus Africa, that will target early-stage African startups, it said (pdf) on Tuesday. The fund will invest in companies that use AI and blockchain technology and is expected to reach […]
Posted inInfrastructure
East Port Said port is getting even bigger thanks to Sky Investments + Reliance Logistics
A consortium of our friends at Sky Investments alongside Reliance Logistics will establish a USD 65 mn multi-purpose terminal at East Port Said port under a contract signed with the Suez Canal Economic Zone yesterday. The companies will be responsible for the “design, construction, management, operation and maintenance” of the terminal, which will feature a […]
Posted inIPO
FRA approves BdC IPO deadline extension
Banque du Caire pushes IPO deadline to March 2023: The Financial Regulatory Authority (FRA) has allowed Banque du Caire (BdC) to postpone the deadline for finishing procedures to IPO on the EGX to 31 March 2023, it said in a statement, (pdf) yesterday. The state-owned bank delayed its long-awaited IPO again in July on the […]