Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
EGP / USD CBE market average: Buy 16.53 | Sell 16.63 EGP / USD at CIB: Buy 16.52 | Sell 16.62 EGP / USD at NBE: Buy 16.54 | Sell 16.64 EGX30 (Monday): 13,421 (-0.3%) Turnover: EGP 390 mn (35% below the 90-day average) EGX 30 year-to-date: +3.0% THE MARKET ON MONDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through an agreement with the European Bank for Reconstruction and Development (EBRD). 28 July-02 August (Sunday-Friday): Fab15 Conference and Graduation Ceremony, TU Berlin, El Gouna, Egypt. 30-31 July (Tuesday-Wednesday): Egypt will hold its seventh youth […]
Posted inWhat We're Tracking Today
What we’re tracking on 29 July 2019
The Fawry IPO is up and running as retail investors requested 1 mn shares on the first day of the retail offering, the local press reports. There’s still a long way to go for the offering to be fully subscribed — there are a total of 35 mn shares up for grabs until 5 August […]
Posted inEnterprise+: Last Night’s Talk Shows
Investment zones, youth forum, Egypt’s green card luck get attention on airwaves
The nation’s talking heads had plenty to chatter about, albeit mostly non-business news. The Let it Rust campaign has pushed car prices down some 30% or EGP 50-150k since the campaign began, campaign spokesperson Mohamed Shetta told El Hekaya’s Amr Adib on Saturday. The boycott campaign, coupled with the strengthening of the EGP against the […]
Posted inSpeed Round
Egypt, Israel considering new LNG facility in Sinai
Egyptian and Israeli authorities are reportedly considering building a USD 15 bn natural gas liquefaction facility on the Red Sea coast in Sinai to drive liquefied natural gas (LNG) exports into Asia from both countries, sources told Israeli business news publication Globes. The facility would eliminate the need for LNG vessels taking off from either […]
Posted inSpeed Round
Is UAE’s Dana Gas looking to exit Egypt?
Is Dana Gas planning to exit Egypt? Abu Dhabi-listed energy producer Dana Gas is looking to offload its Egyptian assets and has hired investment bank Tudor, Pickering, Holt & Co. (TPH) to advise it on the sale, two unnamed sources close to the matter told Reuters. Dana holds stakes five onshore exploration and production concessions […]
Posted inSpeed Round
Heliopolis Housing calls shareholders meeting to vote on management contract
HHD calls on shareholders to vote on handing company management to a private partner: State-owned real estate developer Heliopolis Housing has called an extraordinary general assembly meeting on 26 August to vote on handing the company’s management to a private sector partner as part of the share sale process, the company said in a bourse […]
Posted inSpeed Round
Egypt’s current account deficit to continue to widen as trade balance deteriorates -Fitch
We may be close to finishing the IMF program, but our trade balance isn’t looking much better: Egypt’s current account deficit will continue to widen over the coming quarters as the country’s trade balance deteriorates, Fitch Solutions says in a new report. The report forecasts the deficit increasing to 2.8% of GDP in FY2019-2020 from […]
Posted inSpeed Round
Maridive awarded USD 160 mn contract in India
Maridive awarded USD 160 mn contract to build pipelines in India: A Maridive & Oil Services Co. unit was awarded a contract worth USD 160 mn to build pipelines in India, the company said in a bourse filing (pdf). The contract includes engineering, procurement, installation, and commissioning services for several pipelines to be delivered on […]