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EARNINGS WATCH- Edita net profit increases 87.8% y-o-y in 1Q2019: High-profile snack food maker Edita recorded an 87.8% y-o-y increase in net profit for 1Q2019 to EGP 114.3 mn, according to the company’s earnings release (pdf). Revenues from the quarter reached EGP 982.2 mn, up 10.8% y-o-y, while net profit margins hit 11.6% versus 6.9% […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Ahmed Nabil Abdelmeguid named M&A head at Elsewedy Electric
MOVES- Elsewedy Electric has appointed Ahmed Nabil Abdelmeguid (LinkedIn) as the company’s new head of mergers and acquisitions. Abdelmeguid was previously executive director of investment banking at HC Securities and Investment and was earlier commercial and shared services manager at PICO Energy. He began his career as an investment banker with HSBC in Cairo.
Posted inSpeed Round
SCCT appoints new COO
MOVES- Suez Canal Container Terminal (SCCT) has appointed Mahmoud Ayoub as COO,the company said in a statement picked up by the local press.
Posted inSpeed Round
CORRECTIONS: We seem to have a problem with the consonants “b” and “m” (though mercifully not “b” and “p”). Yesterday, we mistakenly wrote that Investment Minister Sahar Nasr and World Bank President David Malpass signed a USD 200 bn SME loan. The value of the loan is actually USD 200 mn. On Sunday, we incorrectly […]
Posted inUncategorized
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Posted inSpotlight
Thales’ new country director wants a piece of Egypt’s investment in digital infrastructure
EXCLUSIVE- Thales’ new country director wants a piece of Egypt’s investment in digital infrastructure: Global transportation and defense giant Thales yesterday announced the appointment of Sherif Barakat as its new country director for Egypt. The company has a long history here, providing solutions in the defense, space, transportation, aerospace, and security sectors. Barakat takes on […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 09 May 2019
Egypt played a key role in supporting the removal of Sudanese President Omar al-Bashir from power, the Associated Press reports. Along with Saudi Arabia and the UAE, Egypt reportedly provided “quiet support” to Gen. Abdel-Fattah Burhan, who now leads Sudan’s ruling military council. It was in Egypt’s interests to counter the influence of Islamists to […]
Posted inON THE FRONT PAGES
Egypt committed to promoting development in Africa -El Sisi
President Abdel Fattah El Sisi reaffirming Egypt’s commitment to promoting development to fight poverty in Africa and the region leads the front pages of Egypt’s main dailies this morning (Al Ahram | Al Gomhuria | Al Akhbar). In a meeting with New Partnership for Africa's Development (NEPAD) chief Ibrahim Mayaki yesterday, El Sisi also stressed […]
Posted inEnergy
Apicorp signs USD 75 mn Islamic loan agreement with Alfanar for renewable energy projects
The Arab Petroleum Investments Corporation (Apicorp) has signed a five-year Islamic financing facility with Saudi-based Alfanar Company worth USD 75 mn, according to a press release (pdf). The loan from the development bank will support Alfanar’s renewable energy projects, including its 300 MW wind project in Spain. “With an existing portfolio exceeding 1.5 GW of […]
Posted inInfrastructure
Orascom in the running to construct Saudi sewage treatment plant
Orascom has been prequalified to bid for the construction of an independent sewage treatment plant in Saudi Arabia, TradeArabia reports. The plant, close to Taif in Mecca, will boast a total treatment capacity of up to 270,000 cbm per day once completed, officials from Saudi Arabia’s Water & Electricity Company (WEC) have said. Nine other […]