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Sarwa Capital announced that it has concluded the EGP 760 mn securitization of Palm Hills Development’s receivables portfolio, which was made up of 670 delivered homes in the Golf View, Golf Extensions, Palm Hills Katameya Extension (1&2), Hacienda Bay and Hacienda White 2 projects. The receivables portfolio is currently valued at EGP 609 mn, Sarwa […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
EGX committee asks UNB to speed up delisting procedures
The EGX listing committee has asked Union National Bank Egypt to expedite efforts to complete procedures for its delisting from the stock market by 30 June at the latest, it said in a statement (pdf). The committee urged the bank to purchase shares from affected shareholders at a fair value determined by an independent financial […]
Posted inOther Business News of Note
Madbouly meets with reps from 40 US companies
Prime Minister Moustafa Madbouly met yesterday with representatives from 40 US-based companies operating in Egypt to discuss expanding their investments and address hurdles they are currently facing, according to a cabinet statement. Some companies, including IBM, vowed to increase investments in Egypt, the statement says. No further details were provided.
Posted inEgypt Politics + Economics
Egyptian activists urge investigation into Qatar-backed terrorism in Libya
A cohort of Egyptian human rights advocates have urged the United Nations Human Rights Council (UNHRC) to investigate Qatar’s role in funding terrorism in Libya, Ahram Online reports. The group claims that Qatar stands in violation of UN global counter-terrorism strategy by backing armed terrorist groups such as the Ikhwan. The call for investigation came […]
Posted inEgypt Politics + Economics
Government committee approves legalization of 156 churches
A government committee has approved the status legalization requests of 156 churches and their affiliated buildings, the cabinet said in a statement. The committee has now approved 783 churches since it was formed in 2016.
Posted inMy Morning Routine
Emad Barsoum, founder and Managing Director, Ezdehar Management
Emad Barsoum, founder and Managing Director of Ezdehar Management: My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Emad Barsoum, founder and Managing Director of Ezdehar Management, […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.43 | Sell 17.53 EGP / USD at CIB: Buy 17.43 | Sell 17.53 EGP / USD at NBE: Buy 17.43 | Sell 17.53 EGX30 (Wednesday): 14,643 (-0.6%) Turnover: EGP 845 mn (8% below the 90-day average) EGX 30 year-to-date: +12.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
8 March (Friday): SHE CAN women’s entrepreneurship event, Greek Campus, Cairo, Egypt. 10 March (Sunday): CIB will hold an EGM meeting to look into planned capital increase. 10-12 March: A delegation of 50 Japanese business companies is expected to visit Egypt. 11-13 March (Monday-Wednesday): International Conference on Material Science & Engineering Recent Advances and Challenges, […]
Posted inWhat We're Tracking Today
What we’re tracking on 6 March 2019
Tourism forum ITB Berlin is kicking off today, according to the convention’s website. Tourism Minister Rania Al Mashat is taking part in the sessions of the first day. A Port Said criminal court will rule today in a graft case involving former Customs Authority head Gamal Abdel Azim who was accused last year of accepting […]