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EFG Hermes-Citi consortium to run ACCH stake sale: A consortium formed by EFG Hermes and Citi has reportedly won the mandate to run the sale of an additional stake of Alexandria Container and Cargo Handling as part of the state privatization program, a government official told Reuters. The winning consortium, which already landed the mandate […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt Finance Ministry not decided yet on Asian bonds
Finance Ministry denies Samurai bonds are happening this week: The Finance Ministry has yet to make a decision on the timing, value, or currency for Egypt’s first Asian bond issuance, the ministry said in a statement. The decision will depend on the interest generated at the ongoing Asia roadshow as well as the recommendations of […]
Posted inSpeed Round
East Med gas players vow to establish regional market, choose Cairo as HQ for new organization
East Med gas players vow to establish regional market, choose Cairo as HQ for new organization: East Mediterranean gas producers will establish a regional gas market following an agreement in Cairo yesterday at what’s being billed as the first meeting of the East Med Gas Forum, according to an Oil Ministry statement (pdf). The forum […]
Posted inSpeed Round
Finance Ministry mulling alternative solutions to overdue export subsidy funds
FinMin looks at alternative ways to disburse delayed export subsidies: The Finance Ministry is looking at different ways to pay out the delayed export subsidies owed to a number of exporters, Finance Minister Mohamed Maait said, according to Al Mal. Options under consideration at the ministry include exempting exporters from paying taxes equivalent to the […]
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LG to invest USD 15 mn in Egypt
INVESTMENT WATCH- LG to invest USD 15 mn: LG Electronics Egypt will invest as much as USD 15 mn to expand its operations in Egypt, the company’s Egypt boss, Don Kwak said, according to a statement from the Investment Ministry. The statement doesn’t specify where the capital is being committed, but LG Egypt Vice President […]
Posted inSpeed Round
EGP 2.4 bn expected increase in staples subsidies in 2018/2019 fiscal year
Gov’t spending on subsidies looks set to exceed budget targets: Subsidies for staple items are expected to exceed the FY2018-19 budget by about EGP 2.4 bn,a source from the Supply Ministry told Al Mal. The government spent an additional EGP 900 mn in 1H2018-19 on commodity subsidies, the source said, noting that the government expects […]
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House gives in-principle nod to retail stores bill
LEGISLATION WATCH- House gives in-principle nod to retail stores bill: The House of Representatives approved yesterday the Retail Stores Bill, Al Mal reports. The bill, if enacted, would impose new licensing requirements and regulations on the nation’s retail industry. The House introduced several amendments to the bill and shipped it over to the Council of […]
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Egypt’s SWF bylaws expected by month-end, says planning minister
Egypt’s SWF bylaws expected by month-end: The bylaws and regulations of our forthcoming EGP 200 bn sovereign wealth fund will be done and public by the end of this month, Planning Minister Hala El Said said, according to Youm7. The bylaws are now with the Council of State (Maglis El Dawla) for final review. Reports […]
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Mosaad Al Kasaby set to become new chairman for Sidi Kerir Petrochemicals
MOVES- Mosaad Al Kasaby set to become new Sidpec chairman: The Egyptian Petrochemicals Holding Company has named Mosaad Al Kasaby (bio) as its representative at Sidi Kerir Petrochemicals and nominated him to become the chairman of the company, according to a filing to the EGX (pdf) on Monday.
Posted inSpeed Round
Ipsos appoints Yasser Omar as Egypt managing director
MOVES- Global market research outfit Ipsos has appointed Yasser Omar (LinkedIn) as its managing director for Egypt, TradeArabia reported. Omar began his 30-year career as a researcher at Nielsen and spent close to 18 years in PepsiCo International’s consumer insights and strategy departments.