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It was your standard Sunday yesterday, folks,with the news slowing down to a snail’s pace in both the local and international press. We expect the next two weeks of business and economic news to be dominated by interest rates, especially following the European Central Bank’s rate cut and stimulus package last week. Escalating trade tensions […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Different themes occupy Egypt’s talking heads last night
No particular theme or topic dominated the airwaves last night. Yesterday’s meeting of the Council of Arab Central Banks and Monetary Agencies Governors, the launch of a website for the Africa investment conference, and plans for a new program to convert mini-bus engines to dual fuel were among the highlights. Prime Minister Moustafa Madbouly’s review […]
Posted inSpeed Round
Egypt sees its economy growing by around 8% by 2022
Egypt expects its economy to grow by around 8% by 2022, Prime Minister Moustafa Madbouly said, according to a cabinet statement. “We aim to increase economic growth gradually, to reach around 8% by 2022, while promoting the role of private investment as a driver of this growth amid efforts to improve the business environment,” Madbouly […]
Posted inSpeed Round
Egypt expects several IPOs by year-end
IPO WATCH - Pharma company looking to make EGX debut this year: One private pharma company worth more than USD 61 mn is planning to offer shares on the stock market by year’s end, Sayed Abdel Fadeel, head of the Financial Regulatory Authority’s corporate finance department, told Reuters without naming the company. EGX Chairman Mohamed […]
Posted inSpeed Round
Will the Central Bank of Egypt sign off soon on NBG’s sale to Bank Audi?
M&A WATCH- CBE to sign off soon on NBG sale to Bank Audi? The Central Bank of Egypt is set to approve Bank Audi’s planned acquisition of the National Bank of Greece’s (NBG) operations in Egypt, an unnamed CBE source tells Masrawy. According to the source, the CBE is finalizing certain procedures before it can […]
Posted inSpeed Round
Egypt’s regulator to hand new Insurance Act to cabinet this week
LEGISLATION WATCH- Insurance Act to make its way to Cabinet this week: The Financial Regulatory Authority (FRA) will hand over the final draft of the new Insurance Act, which will grant the authority more oversight over the insurance industry, to the Madbouly Cabinet for approval this week, FRA deputy head Reda Abdel Moaty told reporters, […]
Posted inSpeed Round
Gov’t resolves 10-year disputes with Egypt’s mobile operators
DISPUTE WATCH- Gov’t arbitrates 10-year-old dispute worth EGP 2 bn with MNOs: The National Telecom Regulatory Authority (NTRA) has managed to settle disputes between mobile network operators (MNOs) that have gone on for 10 years, the CIT Ministry said in a statement last week. Orange, Vodafone, and Etisalat have apparently been engaging in a costly […]
Posted inSpeed Round
Egypt to launch today the new EGP 6 bn export subsidy framework
The government will begin implementing today the promised EGP 6 bn new export subsidy framework after holding several meetings with the export councils, reports Al Mal. Exporters have been awaiting clarity on how the government is planning to implement the new program, which will see some EGP 2.4 bn (40%) of the EGP 6 bn […]
Posted inSpeed Round
Egypt to obtain first segment of USD 500 mn World Bank loan next fiscal year
Takaful and Karama will receive first payment of USD 500 mn World Bank loan next fiscal year: The Social Solidarity Ministry will start receiving payments from the USD 500 mn World Bank loan for the Takaful and Karama social welfare programs in three tranches over three years, starting from FY2020-2021, according to Al Mal. The […]