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Antaradous for Touristic Development has brought an arbitration case against Amer Group to litigators, Amer Group said in an EGX disclosure (pdf). The dispute dates back to 2008 when the parties entered into a partnership to develop a Porto-style project in the coastal city of Tartous. Amid project delays, the Syria-based company took the case […]
Author Archives: enterpriseam admin
Posted inNational Security
Sinai raids, gunfire exchange result in death of 16 militants
Security forces killed 16 suspected terrorists during raids in Arish, North Sinai, Ahram Online reported yesterday.
Posted inON YOUR WAY OUT
China: in search of the sunny side of the moon?
China: In search of the sunny side of the moon? The era of next-level tech innovation is seemingly upon us, and China looks set to lead the way — with plans to build the first ever solar power plant in space as part of its USD 8 bn annual budget for its space program. The […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.51 | Sell 17.61 EGP / USD at CIB: Buy 17.50 | Sell 17.60 EGP / USD at NBE: Buy 17.49 | Sell 17.59 EGX30 (Tuesday): 15,155 (-0.5%) Turnover: EGP 962 mn (8% above the 90-day average) EGX 30 year-to-date: +16.3% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
19-20 February (Tuesday-Wednesday): The Solar Show MENA 2019, Nile Ritz Carlton Hotel, Cairo, Egypt. 21 February (Thursday):The Middle East & Africa Fintech Forum, Nile Ritz Carlton Hotel, Manama, Bahrain 21-24 February (Thursday-Sunday): Furnex & The Home Exhibition, Egypt International Exhibition Center (EIEC), Cairo, Egypt 23 February (Saturday): The Supreme Administrative Court will rule in an […]
Posted inWhat We're Tracking Today
What we’re tracking on 19 February 2019
Antitrust decision today: The Cairo Economic Court is due to deliver today a decision on an appeal by pharma distributors of an antitrust fine. Among the appellants is EGX-listed IbnsinaPharma. Egyptian university students in Sudan should return home and continue their studies here, Egyptian Rep. Mohamed el-Ghoul said yesterday as he tabled a motion in […]
Posted inEnterprise+: Last Night’s Talk Shows
AfCON preparations in Egypt, Al Azhar bomb, one-stop shop for customs clearance
By the time we signed off last night, there was no real mention on the talk shows of the terrorist bomber who killed two police officers near Al Azhar mosque — the news broke too late for most shows. Expect the attack (doubly rare for being a suicide attack and for taking place in the […]
Posted inSpeed Round
Egypt to take USD 5 bn eurobond issuance to market this week
Egypt to take USD 5 bn eurobond issuance to market this week: The Finance Ministry is planning to sell up to USD 5 bn-worth of eurobonds on the Luxembourg Stock Exchange this week, according to the domestic press. The ministry has decided to forgo a roadshow for the issuance, according to an unnamed government source, […]
Posted inSpeed Round
Egypt, Uber sign agreement to pay VAT retroactively
Uber has agreed to charge and remit VAT in Egypt: Ride-hailing app Uber signed on Sunday an agreement with the Finance Ministry that will see the ride-hailing service charge and remit value-added tax (VAT) on its operations in Egypt, state-run news agency MENA quotes Tax Authority head Abdel Azeem Hussein as saying. Reports in the […]