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26-28 February (Tuesday-Thursday): 22nd International Conference on Petroleum Mineral Resources and Development, Egyptian Petroleum Research Institute, Nasr City, Cairo, Egypt. 28 February (Thursday): Scaling-up MENA SME's Report Launch by Endeavor Egypt, AUC Tahrir, Cairo. 03-06 March (Sunday-Wednesday): EFG Hermes One-on-One Conference, Dubai. 8 March (Friday): SHE CAN women’s entrepreneurship event, Greek Campus, Cairo. 10 March […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 26 February 2019
It remains a slow news week on the business and economy fronts as the press was still focused yesterday on developments at the EU-Arab League summit in Sharm and as the week got off to a slow start in the west. Egypt-South Korea meetings continue in Seoul. A forum on Egyptian-South Korean cooperation in financial […]
Posted inEnterprise+: Last Night’s Talk Shows
EU-Arab League summit was the sole topic on the airwaves last night
For the second night in a row, the EU-Arab League summit was essentially the sole topic on the airwaves last night, with Masaa DMC, Al Hayah Al Youm and Hona Al Asema collaborating again on joint coverage and programming for the gathering. Addressing European interventionism: Arab nations at the summit raised the issue of what […]
Posted inSpeed Round
Beltone pays Egypt’s FRA EGP 16 mn to lift investment banking suspension
Beltone suspension lifted after it pays EGP 16 mn settlement: Beltone Financial’s investment banking arm resumed operations yesterday after the company paid EGP 16 mn in a settlement with the Financial Regulatory Authority (FRA), the authority said in a statement (pdf). The FRA also cut to six months the period of time it is requiring […]
Posted inSpeed Round
Centamin shares tumble on lower than expected gold production forecasts
Shares of London-listed gold miner Centamin “fell down a mine shaft,” City AM reports. The stock slid c. 28% after the company’s lower than expected forecasts for gold production from its Sukari mine in Egypt, the Financial Times reported. Centamin expects to produce between 490k and 520k ounces of gold at Sukari this year, which […]
Posted inSpeed Round
MIDOR reaches closure for USD 1.2 bn loan with Zaki Hashem as advisor
Middle East Oil Refinery (Midor) has reached financial close on what is believed to be a USD 2.2 bn-expansion and upgrade program for its Alexandria refinery. The state-owned company reportedly signed the final contracts for the a USD 1.2 bn financing facility last October with Crédit Agricole, BNP Paribas and Italy’s CDP. The project includes […]
Posted inSpeed Round
Parliament committee approves Economic Courts Act amendments
LEGISLATION WATCH- House committee gives nod to widening the jurisdiction of economic courts: The House of Representatives’ Legislative Committee has approved amendments to the Economic Courts Act that aim to expand the scope of the nation’s economic courts to cover new business and finance activity. The measures will also expedite court proceedings, Al Masry Al […]
Posted inSpeed Round
FRA finished Insurance Act draft, to present it for dialogue next week
LEGISLATION WATCH- FRA finishes Insurance Act draft: The Financial Regulatory Authority (FRA) has completed drafting a new Insurance Act and will next put it up for public debate, Al-Ahram reports, citing remarks by FRA boss Mohamed Omran. Insurance companies that caught a glimpse of the draft bill ahead of time had criticized its provisions on […]
Posted inSpeed Round
Egytrans reports 45.9% fall in net profits to EGP 41.8 mn in FY18
EARNINGS WATCH- Egytrans has reported a FY2018 net profits of EGP 42 mn, down nearly 46% on the previous year, according to the company’s earnings release (pdf). Revenues for the year were down 21% to EGP 278 mn.