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The anticipated inauguration of four tunnels and five bridges in the Suez Canal Economic Zone on April 25 stole the spotlight on the airwaves last night. Suez Canal Authority (SCA) boss Mohab Mamish phoned in to Sada El Balad to give the details on the projects’ anticipated completion (watch, runtime: 02:19). Mamish also said Suez […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s non-oil business activity falls to 17-month low: PMI
Non-oil business activity falls to 17-month low, sentiment hits 10-month high: The Egypt purchasing managers’ index (PMI) contracted for the sixth consecutive month in February to reach a 17-month low, according to Markit / Emirates NBD data. The index fell to 48.2 last month from 48.5 in January, “signalling a moderate deterioration in the health […]
Posted inSpeed Round
Egyptian stock exchange outperforms regional peers in February
EGX outperforms regional peers in February: Egyptian stocks rose 4.8% in February, more than any of its MENA peers, Zawya reported. The EGX performance was boosted by an interest rate cut by the CBE and cheap valuations, according to Yogesh Khairajani, an investment research analyst at Century Financial. “With a US-China [transaction] in sight and […]
Posted inSpeed Round
Natgas regulator begins issuing licenses, not for private sector imports though
Natgas regulator issues 18 licenses, none for private sector gas imports: The Natural Gas Regulatory Authority issued 18 natural gas import and distribution licenses in Egypt, government sources told the local press. The two gas import licenses went to EGAS, with the private sector still not receiving official licenses to import gas. It was a […]
Posted inSpeed Round
Egypt LNG exports hit five-year high
Egypt LNG exports hit five-year high: Liquefied natural gas (LNG) exports from Egypt’s Idku liquefaction plant increased 44% in February to 391.3 mcm, according to analysis from Platts. This is the highest amount of LNG exported from Egypt since May 2013. Four cargoes were shipped during the month, including two to Turkey, one to France, […]
Posted inSpeed Round
Fawry considering IPO by next year, plans expansions
IPO WATCH- Fawry considering IPO by next year, plans expansions: E-payments platform Fawry is considering listing on the EGX sometime in 2019 or 2020 to finance its expansions, Managing Director Mohamed Okasha told Al Mal. The company hasn’t begun the IPO procedures yet but plans to hire a local investment bank to manage and advise […]
Posted inSpeed Round
Americana’s Adeptio to challenge FRA rejection of MTO-related appeal before court
M&A WATCH- Americana’s Adeptio to challenge FRA rejection of its appeal against MTO decision: The Egyptian International Tourism Projects Company’s (Americana Egypt) main shareholder Adeptio AD Investments will challenge before an administrative court the Financial Regulatory Authority’s (FRA) rejection of its appeal against an order to submit a mandatory tender offer (MTO) for Americana Egypt, […]
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Draft Pensions Act to make it to Egypt’s House March-end
LEGISLATION WATCH- Gov’t to establish independent body to supervise pensions: The government is planning to do away with a provision in the draft Social Security and Pensions Act that would set up an authority directed by the social solidarity and finance ministries to manage the state’s pension and social insurance funds in favor of setting […]
Posted inSpeed Round
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