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Trade Minister: Please stop asking about the “automotive directive.” Trade and Industry Minister Amr Nassar threw cold water on years spent crafting the “automotive directive” that would have given incentives to local assemblers to move further up the value chain into manufacturing in return for a measure of protection against EU, Moroccan and Turkish imports. […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Qalaa looking at early 2020 listing of TAQA, ERC
IPO WATCH- Qalaa looking at early 2020 listing of TAQA, ERC: Qalaa Holdings could IPO subsidiaries TAQA Arabia and the parent company of Egyptian Refining Company by early 2020, Managing Director Hisham El Khazindar said, according to Amwal Al Ghad. El Khazindar’s remarks come as the outlook for equity offerings in EM stabilizes after a […]
Posted inSpeed Round
Jaz spending EGP 4 bn in eight new hotels in Egypt’s resort towns
INVESTMENT WATCH- Travco subsidiary to invest EGP 4 bn in new Egypt hotels: Travco subsidiary Jaz Hotel Group is investing EGP 4 bn in eight new hotelsin Marsa Alam and Hurghada, Jaz CEO Alaa Akel tells Al Mal. Construction of the hotels is underway and should wrap up in 1H2019. The company is also planning […]
Posted inSpeed Round
Egypt’s Edita Food Industries to invest EGP 300-350 mn next year to increase capacity
Edita is planning to invest EGP 300-350 mn next year to increase production capacity and finance overseas expansion, CEO and Chairman Hani Berzi said, according to Al Mal. We had noted yesterday that market-leading producer of packaged snack foods is targeting a 10% growth in exports over the next two years.
Posted inSpeed Round
Earnings watch: CIRA reports FY2018 results in maiden earnings post-IPO
EARNINGS WATCH- Cairo for Real Estate and Investment (CIRA) reported a 95% y-o-y increase in net profit to EGP 126.4 mn in its 2018 fiscal year, which ended 31 August, according to the company’s maiden earnings release (pdf). Revenues rose 48% y-o-y during, coming in at EGP 517.5 mn, with growth being driven by higher […]
Posted inSpeed Round
House pushes forward with legislation to regulate the Egyptian industries federation
LEGISLATION WATCH- House working group signs off on bill that regulates Federation of Egyptian Industries. A working group at the House of Representatives with members from the industry, budget and legislative committees has signed off on legislation regulating the Federation of Egyptian Industries (FEI), local news reported. The commission had held 15 meetings to discuss […]
Posted inSpeed Round
CBE sells EGP 18.2 bn treasury bills
Egypt sold EGP 18.2 bn in treasury bills on Sunday, according to the central bank’s website. The sale included EGP 9.75 bn worth of 91-day T-bills at an average yield of 19.475% EGP 8.5 bn worth of 266-day T-bills at an average yield of 19.971%.
Posted inSpeed Round
Enterprise is hiring
*** WE’RE HIRING: We’re looking for smart, talented, and seasoned journalists and editors to join our team at Enterprise, which produces the newsletter you’re reading right now. We’re looking for people who can work on this product and help us launch exciting new stuff. Applicants should have serious English-language writing chops, a strong interest — […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inUp Next
What we’re tracking this week and beyond
Irish business delegation in town Tuesday: Irish Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection Pat Breen will be in town between Tuesday and Wednesday, heading a delegation of 12 companies to explore investment prospects, our friends at the Irish Embassy in Cairo said in a statement (pdf). The […]