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M&A WATCH- Cleopatra Hospitals Group (CHG) has said that it has no knowledge of an impending management takeover of the company’s majority shareholder Creed Healthcare and its subsidiary, Care Healthcare, by private equity fund Actis. The company “has not been informed of any change in shareholding structure, company directors or officers,” it said in a […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Economic growth to remain stable over the coming two years -NBK
Economic growth to remain stable over the coming two years -NBK: Egypt’s economic growth is set to remain stable over the coming two years, with GDP expanding at a 5.2% clip during the current fiscal year and 5.0% in FY2020-2021, the National Bank of Kuwait (NBK) forecasts in a new report. Growth will be supported […]
Posted inSpeed Round
IDG aims to open first factory in New Alamein in 1Q2020
INVESTMENT WATCH- First factory in New Alamein to open in 1Q2020: The Industrial Development Group (IDG) aims to complete the procedures of opening the first factory in New Alamein in 1Q2020, IDG Managing Director Sameh Attia said. The factory will produce building materials and is owned by an unnamed Egyptian investor. The IDG has so […]
Posted inSpeed Round
El Nahda Cement to partially suspend main production line for 6 months amid low sales and oversupply
Another cement factory on the ropes? El Nahda Cement has decided to partially suspend the main production line at its Qena factory for six months after sales fell due to oversupply, sources told Al Mal. The Chemical Industries Holding Company increased its stake in El Nahda to 50% earlier this week after it acquired another […]
Posted inSpeed Round
Earnings watch: CIB reports 13% y-o-y increase in 2Q2019 bottom line
EARNINGS WATCH- Our friends at CIB delivered a 13% y-o-y increase in net income of EGP 2.71 bn in 2Q2019 on revenues of EGP 5.21 bn, which rose 4% y-o-y. CIB recorded a capital adequacy ratio of 25.8% by the end of the quarter, which is above the minimum regulatory requirement. Net income for the […]
Posted inSpeed Round
Amer Group appoints Egypt’s former transport minister Arafat as its new chairman
MOVES- Former Transport Minister Hisham Arafat has been tapped as the chairman of Amer Group, the local press reported. Arafat, who handed over his resignation to cabinet in February in the aftermath of the Ramsis train crash, will lead the real estate development group after founder Mansour Amer stepped down.
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented journalists and analysts 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 people with writing plus either audio or video skills. Interested? Send your CV along with 2-3 writing samples and a solid […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Sovereign investors shift towards emerging markets, Asia
Sovereign investors shift towards emerging markets, Asia: Sovereign investors increasingly see the largest EM economies as being more attractive investment destinations than their developed market counterparts, in a sharp turnaround from 2017 sentiment, according to a study (pdf) by investment management company Invesco. The report, based on interviews with 139 sovereign investors and central bank […]
Posted inImage of the Day
How will the tech startup scene evolve? 529 startup founders share their predictions
How will the tech startup scene evolve? This Visual Capitalist infographicdepicts the results of First Round’s State of Startups 2018 survey with insights from 529 startup founders on which tech startups are going to be shaking up Silicon Valley (and beyond) in the future. The key findings? Payments startup Stripe is predicted by 19% of […]