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Have Uber’s issues vanished as abruptly as they appeared? Uber services appear to be operating normally again after more than a week of disruption, but there remains no word from the company on the reason for the outage, one of the ride-hailing company’s agents tells Al Mal. A number of Uber drivers reportedly staged a […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Beltone appeal against repeated trade freezes in 2016 rejected
Beltone’s appeal of 2016 trading reversals faces setback: The Board of State Commissioners has recommended to the Administrative Court that it reject Beltone Financial’s claim that the Financial Regulatory Authority and EGX did not have grounds to reverse trades in Beltone’s shares made back in 2016, reports. The FRA had submitted documents to the Administrative […]
Posted inSpeed Round
Plans to hike pension fund investments in the EGX delayed
State pension funds won’t hike their exposure to the EGX … yet: The Social Solidarity Ministry’s Pension Funds Investment Committee, which decides how to invest the state’s pension funds, is shelving plans increase their exposure to the EGX until the government kicks off the state privatization program, government sources told the domestic press. The committee […]
Posted inSpeed Round
Egypt and Germany agree to boost trade and economic cooperation
Egypt signs cooperation agreement with Germany: German Economy and Energy Minister Peter Altmaier signed yesterday with Trade Minister Amr Nassar an agreement to boost trade and economic cooperation, according to a Cabinet statement. Manufacturing, trade, investment, energy, transportation, infrastructure, tourism, and higher education are the most likely sectors to see enhanced cooperation, the minister said. […]
Posted inSpeed Round
Egypt is leading the region’s decline in liquefied natural gas demand
Egypt’s emergence as a regional gas hub is driving a decline in regional demand for liquefied natural gas, writes Verity Radcliffe for Bloomberg. While Egypt was the region’s biggest LNG importer in 2016 and 2017, we are now on track to become a significant exporter this year after several gas discoveries allowed us to pull […]
Posted inSpeed Round
Earnings Watch: Abu Qir Fertilizers, Credit Agricole
EARNINGS WATCH- Abu Qir Fertilizers’ net profits rose 32.4% y-o-y in 1H2018-19, which ended in December, to EGP 1.7 bn, the company announced in an EGX filing. Revenues were up 19.6% y-o-y, rising to EGP 5 bn. The figures come at a welcome as the company prepares to sell a 30% stake on the EGX […]
Posted inSpeed Round
CORRECTION- In our story yesterday on Olayan Saudi Investment Company’s purchase of 5 mn Qalaa Holdings shares, we mistakenly wrote that the company raised their stakes from 1.18% to 3.71%. OSIC’s stakes have actually risen from 3.71% to 5.17%. In addition, we wrote that Qalaa filed the EGX disclosure when in fact it was EFG […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
Egypt will assume the presidency of the African Union on 10 February, according to an Ittihadiya statement. A Russian expert committee will visit Sharm El Sheikh and Hurghada airports in the second half of February to run a final security sweep ahead of a decision on flight resumption, AMAY reports. FinMin to present debt control […]
Posted inEGYPT IN THE NEWS
Discovery of mummies in Egypt’s Minya continues to earn attention in the foreign press
The discovery of mummies in Minya is still earning digital ink, with CNN, the Washington Post and the Independent all running pieces on the Ptolemaic burial site — a sign, as if we needed one, that there is always an appetite for stories of discovery related to Ancient Egypt.