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Prime Minister Moustafa Madbouly issued a decree to create a specialized industrial zone in Benha, Qalyubia, dedicated to establishing SMEs, the cabinet said in a statement.
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Egyptian Media Production City to inaugurate a “mega studio” by end of 2020
The Egyptian Media Production City (EMPC) is planning to inaugurate a new film studio at the end of next year, Chairman Osama Heikal said. The “mega studio” is expected to cost some EGP 55 mn.
Posted inWhat We're Tracking Today
What we’re tracking on 22 July 2019
All eyes will be on the EGX for the next several days as Fawry gears up for its IPO, which would be the first since Sarwa Capital debuted on the exchange last October. Fawry’s initial public offering is expected to act as a bellwether for the equity raising climate in Egypt, particularly after last year’s […]
Posted inEnterprise+: Last Night’s Talk Shows
An eventful night on Egypt’s talk shows, British Airways’ suspension dominates
British Airways’ suspension of flights to Cairo for a week was in the spotlight on a busy night for the country’s airwaves yesterday, with El Hekaya’s Amr Adib (watch, runtime: 10:26) and Hona Al Asema’s Reham Ibrahim (watch, runtime: 2:50) both taking note. We recap the aftermath in this morning’s Speed Round, below. Bloomberg data […]
Posted inSpeed Round
Egyptian e-payments platform Fawry to offer 36% of its shares in IPO
IPO WATCH- Fawry to offer 36% of its shares in an IPO: E-payments platform Fawry is planning to offer up to 36% (or 254.6 mn) of the company’s shares owned by PSI Netherland Holding B.V in an IPO on the EGX, the company said in a statement (pdf). Fawry received the registration approval from the […]
Posted inSpeed Round
Government mulls a tax break incentives for companies listing on the EGX
EXCLUSIVE- A generous tax break for companies listing on the EGX is in the making: Fawry’s planned listing comes as a government committee is looking at incentives to stimulate IPO activity in the market and attract more foreign investment in Egyptian equities. One proposal put forth by the Egyptian Capital Markets Association (ECMA) that is […]
Posted inSpeed Round
EFG Hermes has a lot of projects in the pipeline
M&A WATCH- EFG Hermes named as adviser to FrieslandCampina in Arab Dairy acquisition: EFG Hermes will provide financial advice to Dutch company FrieslandCampina in its bid to acquire Egyptian cheese-maker Arab Dairy, Hapi Journal reported, citing unnamed sources. Sharkawy and Sarhan Law Firm will be the legal advisers to Friesland, the sources said. Frieslandgot the […]
Posted inSpeed Round
Airport security in Egypt not reason behind British Airways suspension
British Airways’ seven-day suspension of flights to Cairo is not related to security measures at Egyptian airports, British ambassador to Egypt Geoffrey Adams told Civil Aviation Minister Younes El Masry yesterday, according to a ministry statement. Adams’ statements, which provided no further clarification, came after El Masry expressed his dismay over the decision being taken […]
Posted inSpeed Round
Australian mining company seeks hundreds of mns of USD in compensation from the Egyptian Company for Mineral Resources (ECMR)
DISPUTE WATCH- The Egyptian gov’t is facing a multi-mn USD lawsuit from an Australian mining company: Australian mining company Gippsland filed a lawsuit for potentially hundreds of mns of USD against the state-owned Egyptian Company for Mineral Resources (ECMR) in 2018, the Sydney Morning Herald reports. The Perth-based firm agreed to set up Tantalum International […]