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19 February (Tuesday): Cairo Economic Court to deliver decision on pharma distributors appeal, Egypt. 19-20 February (Tuesday-Wednesday): The Solar Show MENA 2019, Nile Ritz Carlton Hotel, Cairo, Egypt. 23 February (Saturday): The Supreme Administrative Court will rule in an appeal by Uber and its competitor Careem against a lower court ruling ordering the suspension of […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 18 February 2019
The news is so slow this morning, it practically hurts. But what news there is … is big, including Apparent reconciliation between the state and high-profile foreign investors Union Fenosa Gas (in which Eni is a major shareholder) and Uber A threat from a third foreign investor to file for international arbitration And reported US […]
Posted inEnterprise+: Last Night’s Talk Shows
Terrorist attack in North Sinai dominates talking heads’ agendas
The Saturday terrorist attack in North Sinai that left 15 members of the armed forces dead dominated the talking heads’ agendas last night. Al Hayah Al Youm’s Khaled Abu Bakr took the chance to salute the Armed Forces (watch, runtime: 03:04), while Masaa DMC’s Eman El Hosary took note of the funerals for the deceased […]
Posted inSpeed Round
Damietta liquefaction plant to export c.550 mn cfd of natural gas by April
Damietta LNG plant to reopen in April after six-year hiatus: TheDamietta liquefaction plant will reopen in April and export around 550 mn cfd of natural gas following a six-year hiatus, an oil ministry source told the domestic press. The potential resumption of exports comes as plant operator Union Fenosa Gas (UGS), a JV between Union […]
Posted inSpeed Round
Petroceltic to seek international arbitration against EGPC
Petroceltic to seek international arbitration against EGPC: UK energy company Petroceltic is filing for international arbitration to recover back-due payments it claims it is owed by the state-owned Egyptian General Petroleum Corporation (EGPC), Petroceltic said in a statement on its website. “We do not threaten international arbitration lightly, but equally we are at the end […]
Posted inSpeed Round
US institution makes offer for United Bank
M&A WATCH- US institution reportedly makes offer for United Bank: A US institution has made an offer to acquire the United Bank and is currently doing due diligence on the transaction, according to a report in Amwal Al Ghad that cites remarks attributed to Central Bank Governor Tarek Amer. The Central Bank, which owns about […]
Posted inSpeed Round
Egypt’s Eastern Co stake sale could proceed at low end of target range
IPO WATCH- Eastern Co stake sale could proceed at low end of target range: The government is considering going ahead with the sale of a 4.5% stake in publicly traded Eastern Company when its share price hits EGP 16.83, Public Enterprises Minister Hisham Tawfik reportedly told Al Mal. A ministerial decree had previously set a […]
Posted inSpeed Round
Sawiris clarifies his statements on not investing in Saudi Arabia
Naguib ❤️ Saudi Arabia, after all: Celebrity businessman Naguib Sawiris told Arabiya TV yesterday that his decision to not invest in Saudi Arabia isn’t an indefinite thing. Instead, he said, he’s waiting for the enactment of reforms to the kingdom’s investment laws and arbitration setup before he looks at opportunities there. Sawiris made the remarks […]
Posted inSpeed Round
Egypt to sign hedging contracts for FY2019-20 in two weeks
EXCLUSIVE- Egypt could sign hedging contracts for FY2019-20 in two weeks’ time: The government could sign in as little as two weeks’ time contracts to hedge against the price volatility of fuel, imported wheat and cooking oil, a senior government official told Enterprise. The contracts begin in FY2019-20 to help ensure Egypt meets its budget […]