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03-06 March (Sunday-Wednesday): EFG Hermes One-on-One Conference, Dubai. 05 March (Tuesday): The EBRD will release its Transition Report 2018-19, “Work in Transition,” with a workshop led by Managing Director for the southern and eastern Mediterranean region Janet Heckman, Salon Vert Meeting Room, Cairo Marriott Zamalek. 8 March (Friday): SHE CAN women’s entrepreneurship event, Greek Campus, […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 28 February 2019
Longtime readers know we have a soft spot for Qalaa Holdings’ USD 4.3 bn Egyptian Refining Company — and for Ahmed Heikal, who with his team kept the project on track despite a literal tsunami (it’s a long story), the global financial crisis and the events of 2011 and 2013. Well, guess what? They flipped […]
Posted inEnterprise+: Last Night’s Talk Shows
Train crash dominates coverage on the airwaves
Yesterday’s tragic train crash was the only thing on the minds of the talking heads, with some calling for blood and others commenting on the state’s response to the accident. The official death count currently stands at 20 people, while there were around 43 injured, Health Ministry spokesperson Khaled Megahed told Channel 1 News (watch, […]
Posted inSpeed Round
At least 20 killed in Ramsis station train accident, minister resigns
At least 20 people died yesterday when a train ran into a barrier inside Ramsis station in Downtown Cairo. More than 40 others were injured, according to a health ministry spokesman. The train derailed when it apparently hurtled unpiloted into the station, ramming into a concrete barrier at the end of platform six, the Transport […]
Posted inSpeed Round
Details emerge on cost-to-income ratio under new banks tax treatment
EXCLUSIVE- Here’s how banks will have to calculate their cost-to-income ratio for income from treasuries under the new tax treatment: A draft agreement between the Federation of Egyptian Banks (FEB) and the Finance Ministry would see banks calculate their cost-to-income ratio for investment in government debt under the new tax treatmentby dividing total bank expenses […]
Posted inSpeed Round
Egypt economic growth to beat expectations- Capital Economics
Egypt’s economic growth will beat expectations as sovereign bond yields fall and the government’s austerity program draws to a close, according to a report by Capital Economics. The country’s debt-to-GDP ratio has also begun to fall back as the primary budget balance enters a surplus for the first time in almost 20 years. The report […]
Posted inSpeed Round
Egypt’s position as regional hub secure as LNG demand looks set to grow
Israel’s LNG export dreams look increasingly dependent on Egypt: It is increasingly clear that an agreement between Cyprus, Greece, and Israel reached last December to proceed with an East Med pipeline will not give Israel the edge to exporting the region’s gas to Europe without Egypt, according to an analysis piece from Haaretz. For one, […]
Posted inSpeed Round
Earnings Watch: Edita, Elsewedy Electric, GB Auto, EKH, PHD, ACC, NBK
EARNINGS WATCH- High-profile snackfood maker Edita recorded a 20.4% y-o-y increase in net profit in 4Q2018 to EGP 128.3 mn, up from EGP 106.6 mn in 4Q2017, according to the company’s earnings release (pdf). Revenues for the quarter reached EGP 1.1 bn, up 13.2% y-o-y from EGP 958 mn in 4Q2017 “on the back of […]
Posted inSpeed Round
Eastern renews contracts with BAT, Mansour to jointly produce cigarettes in Egypt
Eastern renews joint production contracts with BAT, Mansour: State-owned Eastern Company inked two five-year renewals of its joint production agreements with British American Tobacco (BAT) and Mansour International Distribution Co, according to an EGX disclosure (pdf). Under the agreement Eastern manufactures foreign “Target” cigarettes in partnership with Mansour, and “Pall Mall” and “Viceroy” cigarettes in […]