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The Arab and African Youth Forum, which kicked off in Aswan on Saturday and runs through tomorrow, kept the talking heads busy on an otherwise quiet night on the airwaves (watch, runtime: 15:00). President Abdel Fattah El Sisi’s speech at the event, which was attended by over 1,500 African and Arab youth (watch, runtime: 04:14), […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt tenders four LNG cargoes, marking return to gas market
We are once again a natural gas exporter: The Egyptian Natural Gas Holding Company (EGAS) has offered a tender to sell four LNG cargoes for April loading with bids due on Monday, Bloomberg reported. Egypt is also offering four cargoes for loading in May and three for June. Reuters also has the story. The tender […]
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Organic corporate growth in Egypt expected to exceed 20%, says Lazard’s Said
Egypt is one of the only MENA countries where organic corporate growth is expected to exceed 20%, Fadi Al Said, director of MENA equity and portfolio manager at financial advisory firm Lazard, tells Bloomberg TV. The EGP devaluation and ensuing high inflation rates are still proving “some tailwinds” driving nominal growth through price adjustments, he […]
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Egyptian bond yields among the most attractive in emerging markets
Yields on Egyptian debt are among the most attractive in emerging markets once you adjust for inflation, Bloomberg says. “Emerging-market government debt lost 0.3 percent February after gaining 7.6 percent in the previous three months, according to the Bloomberg Barclays index, as mounting evidence of a global slowdown outweighs the benefits of a dovish Federal […]
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Egypt records budget surplus 0.5% of GDP in 7M2018-19
Primary budget surplus of 0.5% of GDP in 7M2018-19: Egypt recorded a primary budget surplus of EGP 24 bn (or 0.5% of GDP) during 7M2018-19, compared to a deficit of EGP 13 bn a year earlier, the Finance Ministry said in its February monthly bulletin. The budget deficit during the period came in at 4.2%, […]
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Egypt to begin implementing new exports incentive program next fiscal year
Gov’t to begin implementing new export incentive program next fiscal year: The government will begin implementing a new, flexible export incentive program next fiscal year, according to a Cabinet statement. The program will be implemented for a year as a trial with periodic meetings between the prime minister and export councils to review progress and […]
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Germany’s Hospinorm plans to enter Egyptian market, invest EGP 600 mn
INVESTMENT WATCH- German healthcare project developer Hospinorm is planning invest some EGP 600 mn as it enters the Egyptian market, according to Al Mal. Hospinorm plans to set up a 100-bed hospital in an unnamed new urban community. The group is looking at both greenfield and brownfield options, according to Egyptian International Counseling Group (EICG) […]
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Egyptian companies want a slice of the USD 20 bn Libyan reconstruction pie
INFRASTRUCTURE WATCH- Egyptian companies want a slice of the USD 20 bn Libyan reconstruction pie: Several Egyptian companies are gearing up to chase what could be USD 20 bn worth of reconstruction contracts as the first phase of Libya’s rebuilding gets underway, Federation of Egyptian Chambers of Commerce Secretary General Alaa Ezz tells Reuters’ Zawya. […]
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Adeptio challenges Egypt’s FRA’s rejection of Americana MTO decision appeal
M&A WATCH- Alabbar’s Adeptio challenges FRA rejection of its appeal against Americana MTO decision: Adeptio AD Investments, the lead shareholder of Egyptian International Tourism Projects Company’s (Americana Egypt), has filed suit in an administrative court challenging the Financial Regulatory Authority’s (FRA) rejection of its appeal against an order to submit a mandatory tender offer (MTO) […]
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Madbouly issues decree shaking up state utilities regulator Egyptera’s BoD
MOVES- Prime Minister Moustafa Madbouly issued a decree on Thursday appointing a new board of directors for the Egyptian Electricity Utility and Consumer Protection Agency (Egyptera), according to a copy of the decision picked up by the local press. The new board is led by Electricity Minister Mohamed Shaker, and seats Egyptera Chairman Mohamed Abdel […]