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The question of the day is whether we should expect new 95-octane fuel price changes this month. All signs seem to indicate the answer is “yes,” particularly as the local press is on high alert for any clues. We have the full rundown in this morning’s Speed Round, below. The EGX didn’t have a great […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s new health care system debut in Port Said dominates nation’s airwaves
Government-sponsored healthcare was on the talking heads’ minds as Egypt’s new universal healthcare system officially debuted in Port Said yesterday. The launch is a model for Africa, says the World Bank’s Sherif Hamdy: Al Hayah Al Youm’s Lobna Assal highlighted comments by the World Bank’s private sector specialist Sherif Hamdy about launching the scheme, which […]
Posted inSpeed Round
Is Egypt’s fuel pricing mechanism coming into effect this month?
Is Egypt’s fuel pricing mechanism coming into effect this month? Speculation is rife in the local press that the Oil Ministry might begin moving prices on 95-octane fuel this month under the automatic fuel pricing mechanism, after it kept the price of 95-octane unchanged at EGP 7.75 per liter in April. The government has also […]
Posted inSpeed Round
EGX30 falls 4.3% in 2Q2019
The EGX30 fell 4.3% y-o-y in 2Q2019, the Egyptian Bourse said in its quarterly report (pdf). Total market capitalization came in at EGP 756.1 bn at the end of the period, falling 7.4% y-o-y during the quarter. The total trade volume for the quarter was EGP 50.8 bn, down from EGP 91.9 bn in 2Q2018 […]
Posted inSpeed Round
Egypt’s T-bond yields hit new 14-month lows
T-bond yields hit new 14-month lows: Yields on T-bonds fell to their lowest levels since May 2018 in a bond auction last week as banks snapped up 3- and 7-year government bonds, CBE data (pdf) showed. Yields on 3-year bonds fell to 15.987% from 16.022%, while yields on 7-year notes fell to 15.943% from 16.016%. […]
Posted inSpeed Round
Telecom Egypt plans to invest EGP 17 bn through 2020
INVESTMENT WATCH- Government-owned carrier Telecom Egypt (TE) is planning to invest EGP 17 bn through 2020, Reuters reports. The company is accelerating efforts to develop its infrastructure and improve its networks by 2020, two years earlier than initially planned. The company said last month that it was planning to build four or five data centers […]
Posted inSpeed Round
Israel’s export of gas into Egypt said to be delayed due to hang up in regulatory clearances
Israeli gas exports to Egypt delayed on regulatory hangups? The operators of Israel’s largest gas fields, branded as the Tamar Gas Consortium, have postponed commercial sales of Leviathan gas field-produced natural gas to Egypt to the end of the year, Delek Drilling said in an Israeli bourse filing picked up by Egypt’s local press and […]
Posted inSpeed Round
Gulf Capital-owned fund looking to compete for 100% stake in Egypt’s Arab Dairy
M&A WATCH- GC Equity Partners III fund looking to compete for 100% stake in Arab Dairy: UAE-based Gulf Capital’s GC Equity Partners III fund has asked to conduct due diligence ahead of a potential bid for 100% of Arab Dairy, sources familiar with the matter told Hapi Journal. The fund will be up against Netherlands-based […]
Posted inSpeed Round
Cairo-based ride-hailing startup Halan launches advertising service
STARTUP WATCH- Cairo-based tuk-tuk and motorcycle ride-hailing startup Halan has launched Halan Ads, allowing companies to advertise on its fleet, according to Menabytes. Adverts will be displayed on wraps attached to tuk-tuks and small billboards will be mounted to motorcycles. “We feel that mobile advertisements are very underdeveloped in Egypt and can be more effective […]