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OFID to increase Egypt financing by USD 55 mn by year-end: The OPEC Fund for International Development (OFID) is planning to increase its financing for Egypt by USD 55 mn until the end of the year, private sector operations officer Saud Al Rajhi told the press. This will bring proceeds provided to Egypt by the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Ebtikar acquires additional 10% stake in e-payments firm Masary
M&A WATCH- Ebtikar acquires additional 10% stake in Masary: Ebtikar for Financial Investment, a joint venture between BPE Partners and MM Group, acquired an additional 10% stake in e-payments firm Masary in a transaction worth EGP 42 mn, MM Group said in a statement to the bourse (pdf). The transaction brings Ebtikar’s stake in Masary […]
Posted inSpeed Round
Majid Al Futtaim to open USD 437 mn Heliopolis mall in September
Majid Al Futtaim will open its USD 437 mn City Centre Almaza in East Cairo in September, the company said in a statement (pdf). Owners will receive the keys to their shops at the beginning of September and the mall will be open to customers by the end of the month, the company said. The […]
Posted inSpeed Round
Pensioners Union lobbying El Sisi to reject Pensions Act
LEGISLATION WATCH- Pensioners Union lobbying El Sisi to reject Pensions Act: The Pensioners Union has agreed to send an official memo to President Abdel Fattah El Sisi urging him against ratifying the Social Insurance and Pensions Act, which the union claims include unconstitutional articles, a union official told the local press. According to the official, […]
Posted inSpeed Round
PM issues executive regs for National Press Authority
REGULATION WATCH- Madbouly issues executive regs for National Press Authority bill: Prime Minister Moustafa Madbouly issued on Monday the executive regulations for the law passed in 2018 that regulates the National Press Authority (NPA). The law — one of three born out of the process of dividing part two of the Press and Media Act […]
Posted inSpeed Round
Earnings watch: Etisalat Misr reports EGP 7.14 bn revenues in 1H2019
EARNINGS WATCH- Etisalat Misr reported revenues of EGP 7.14 bn in 1H2019, compared to EGP 6 bn during 2H2018, according to financial statements seen by Amwal Al Ghad. Mobile revenues during the quarter came at EGP 6.06 bn.
Posted inSpeed Round
We incorrectly wrote on Monday that Abu Dhabi Capital Group has appointed Ahmed Fathallah (LinkedIn) as the chairman of Capital Group Properties and Imkan Misr. Fathallah will become the chief executive of the two portfolio companies, rather than the chairman. We have since updated the story on our website.
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); […]
Posted inUncategorized
** 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 […]
Posted inTHE MACRO PICTURE
The IMF’s emerging markets outlook is looking sluggish amid expectations for “subdued” global growth
The IMF’s emerging markets outlook is looking sluggish amid expectations for “subdued” global growth: The IMF has revised downwards its forecasts for emerging markets’ GDP growth in its July update of the World Economic Outlook, saying it sees EMs growing 4.1% and 4.7% in 2019 and 2020, respectively. The figures are 0.3% and 0.1% lower, […]