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Posted inEnterprise+: Last Night’s Talk Shows
No particular theme dominates an eventful night on Egypt’s airwaves
It was another mixed bag of nuts on an eventful night on the nation’s airwaves, keeping the talking heads chattering away. Egypt’s trade balance improved in 1H2019 as the value of exports climbed 2% y-o-y to USD 15.3 bn, up from USD 15 bn in 1H2018, Al Hayah Al Youm’s Khaled Abu Bakr reported, citing […]
Posted inSpeed Round
Egypt mulls amending corporate healthcare tithe to impose EGP 10k cap across the board
EXCLUSIVE- FinMin mulls amending corporate healthcare tithe to impose across-the-board cap at EGP 10k: The Finance Ministry is considering introducing amendments to the Universal Healthcare Act that would set an across-the-board limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, two government sources tell Enterprise. The amendments would see […]
Posted inSpeed Round
Swvl seeks to raise over USD 100 mn in a financing round in 1Q2020
STARTUP WATCH- Swvl is seeking to raise more than USD 100 mn in a financing round in 1Q2020, and targeting a USD 1 bn valuation in the coming five years, co-founder and CEO Mostafa Kandil told Reuters. “We were a company worth about USD 2 mn two years ago and our paid-up capital is now […]
Posted inSpeed Round
SODIC launches new west Cairo project
SODIC has launched “The Estates,” a new project in New Zayed, the company said in a statement (pdf). The west Cairo project will have easy access to western neighborhoods, the North Coast, the newly opened Sphinx Airport and the Grand Egyptian Museum, the upscale real estate developer said. “We are very excited to bring this […]
Posted inSpeed Round
Egyptian investment bank Arqaam to complete three M&A transactions in 1Q2020
M&A WATCH- Arqaam to complete three M&A transactions in 1Q2020: Investment bank Arqaam Capital has three M&A transactions worth USD 50-100 mn each in its pipeline, and expects to close them during the first quarter of next year, CEO Rady El Helw said, according to Amwal Al Ghad. El Helw provided no further details on […]
Posted inSpeed Round
Noble, Delek say natural gas agreement with Egypt going according to plan to calm investor concerns
Noble, Delek attempt to allay fears of gas export delays to Egypt: The USD 15 bn agreement with Egypt is “advancing as it should,” Israel’s Noble Energy and Delek Drilling said on Sunday, according to Eran Azran’s op-ed piece in Haaretz. The statements follow those made by US Deputy Energy Secretary Dan Brouillette to a […]
Posted inSpeed Round
Egypt kicks off new export subsidy program, says overdue payments on the way
Gov’t kicks off EGP 6 bn export subsidy program, says more overdue payments on the way: The government has started implementing the EGP 6 bn new export subsidy framework and is taking more steps to settle the overdue payments promised by the Export Subsidy Fund since 2012, Finance Minister Mohamed Maait said at a presser […]
Posted inSpeed Round
GERD talks at a “deadlock” amid wide gap between Egypt and Ethiopia
GERD talks at a gridlock again? Ethiopia rejected last month Egypt’s proposal for the timeline of filling the Grand Ethiopian Renaissance Dam’s (GERD) reservoir, less than two weeks after Egypt handed it to the African country and neighboring Sudan, according to a note circulated by the Foreign Ministry to diplomats and seen by Reuters. Ethiopia […]
Posted inSpeed Round
UK to give Egypt GBP 13 mn to promote investment
The UK will give Egypt GBP 13 mn through the World Bank to promote investment in the country, said British MENA Secretary of State Andrew Morrison, according to an Investment Ministry statement. The amount is part of a four-year, GBP 15 mn-worth technical support program to push Egypt’s economic growth. In a meeting on Monday, […]