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EXCLUSIVE- FinMin looking to issue callable bonds amid expectations of interest rate cuts: The Finance Ministry has begun amending its plans for its upcoming bond issuances to include the sale of callable local bonds as a means of hedging against fluctuating interest rates, two government sources tell Enterprise. The ministry expects the Central Bank of […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Prime Holding finishes due diligence on Pharos units
M&A WATCH- Prime Holding completes due diligence on Pharos brokerage, investment banking arms: Prime Holding has completed the due diligence process on Pharos Holdings’ securities brokerage and investment banking units ahead of their planned acquisition, Prime said in a bourse filing (pdf). The two companies are now discussing the results of the due diligence and […]
Posted inSpeed Round
ElSewedy Electric, Scatec Solar begin commercial operations at new Benban solar plants
Elsewedy, Scatec Solar begin commercial operations at new Benban solar plants: ElSewedy Electric has reached full commercial operation at two solar energy plants in Aswan’s Benban solar power park, according to a company statement (pdf). The two plants, which cost a combined USD 140 mn project, were built by ElSewedy and Electricite de France (EDF), […]
Posted inSpeed Round
Amer Group reports EGP 297 mn net income in 2Q2019
EARNINGS WATCH- ِAmer Group reported net income of EGP 297 mn in 2Q2019, down 16% y-o-y from EGP 354 mn in 2Q2018, the company said in a bourse disclosure (pdf).
Posted inSpeed Round
Up to 80% of Suez Canal CDs to be reinvested in September: Sources
Up to 80% of Suez Canal CDs to be reinvested in September -sources: A large majority of Suez Canal certificate of deposits (CDs) holders will reinvest the money into new certificates after they mature on 4 September, analysts and bankers told Reuters’ Arabic service. Mona Moustafa, manager at internet stock trader Arabeya Online, said that […]
Posted inSpeed Round
EGX to train investor relations staff at listed public sector companies
EGX to train investor relations staff at listed public sector companies: The Public Enterprises Ministry signed yesterday an agreement with the Egyptian bourse to train investor relations staff members in EGX-listed public sector companies, the EGX said in a statement. The training program is designed to increase trading activity on these companies and improve the […]
Posted inSpeed Round
Ibrahim Elaraby voted as chairman of the chambers of commerce federation
MOVES- Elaraby Group CEO Ibrahim Elaraby was elected as the chairman of the Federation of Egyptian Chambers of Commerce on Monday, Hapi Journal reported. Elaraby will head the federation until 2023.
Posted inSpeed Round
Nexford University to offer USD 200k in startup funding to its scholarship graduates
Calling all MBA seekers: Nexford University to offer USD 200k in startup funding to its scholarship graduates: US-based Nexford University is planning to offer USD 200k (EGP 3.3 mn) in startup funding to100 Egyptian BBA and MBA students who earn a scholarship at the university, according to an emailed statement (pdf). The program will see […]
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented, quirky people to join our team and help us make both the product you’re reading now and some exciting new stuff. We’re particularly interested in: Journalists with print, audio and / or video skills — both editors and reporters (for both our English and our Arabic editions); […]
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** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]