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25-26 June (Tuesday-Wednesday): US-backed conference on the ‘economic dimension’ of Trump’s Mideast peace plan, Manama, Bahrain. 28-29 June (Friday-Saturday): G20 Global Economic Summit, Osaka, Japan. 30 June (Sunday): June 2013 protests anniversary, national holiday. July: Customs officials from Egypt and the US will sit down to discuss “procedural and administrative matters” as part of the […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 24 June 2019
Don’t be fooled by the comparative quiet of this morning — we’re in the midst of a busy news cycle, and Mondays are always “slow” news morning. Driving the conversation today: UK trade envoy Sir Jeffrey Donaldson is in town for two-day visit. He’s accompanied by two UK healthcare companies. It’s Donaldson’s tenth visit in […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s economy could grow by more than 5% -WB official
It was a mixed bag on the nation’s talk shows last night: Egypt’s economy could grow by more than 5% -World Bank official: Al Hayah Al Youm’s Khaled Abu Bakr highlighted statements from Mahmoud Mohieldin, the World Bank’s senior VP for the 2030 Development Agenda, who said that Egypt could further up its economic growth […]
Posted inSpeed Round
Customs dispute with Mercedes-Benz importer cleared
EXCLUSIVE- Dispute between Customs Authority and Mercedes-Benz importer finally settled? An Egyptian importer of Mercedes-Benz vehicles has won an EGP 700 mn customs refund after the cabinet’s dispute resolution committee ruled in favor of the company in its dispute with the Customs Authority, a government source told Enterprise. The company was initially asked to pay […]
Posted inSpeed Round
Google to expand its Cairo office
INVESTMENT WATCH- Google is planning to start hiring a full team for its Cairo office, the Investment Ministry said in a statement yesterday. Google’s MENA Managing Director Lino Cattaruzzi told Enterprise in an interview that the hiring push, which will include tapping a new country manager, will begin soon. A Google spokesperson separately told us […]
Posted inSpeed Round
China’s Silk Road Fund buys into Egypt renewable energy scene through acquisition of large Acwa Power stake
M&A WATCH- China’s Silk Road Fund buys into Egypt renewable energy scene through acquisition of large Acwa Power stake: China’s state-owned Silk Road Fundhas acquired a 49% stake in Saudi utility developer Acwa Power’s renewable energy unit, Arabian Business reports. No details of the investment have been released. The renewable energy platform, Acwa Power RenewCo, […]
Posted inSpeed Round
AlGioshy Steel plans Egypt IPO in 2020
IPO WATCH- Steel manufacturer AlGioshy Steel is planning to offer up to 25% of its shares in an IPO next year to finance planned expansions, CEO Tarek AlGioshy tells the local press. The company has hired an adviser, but AlGioshy did not disclose who. A top company executive had said earlier this year that the […]
Posted inSpeed Round
Two companies express interest in issuing sukuk to FRA
Are we on the cusp of a sukuk issuance spree? Two unnamed companies partially owned by the government have expressed their interest in issuing shariah-compliant sukuk bonds to finance new projects this year, sources tell Al Mal. One issuance would be worth EGP 1 bn, while the value of the other one has yet to […]
Posted inSpeed Round
Smart policy: Plastic bags could disappear under bill being written by House Industry Committee
SMART POLICY- The House Industry Committee has finished drafting a bill that would regulate the use of plastic bags, AMAY reported. Egypt produces around 1.2 mn tons of plastic waste each year, committee chairman Mohamed Amer said. The Red Sea governorate said in April it would impose a ban on single-use plastics effective this month. […]