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EGX touts regulatory reforms: The EGX released an infographic listing the 13 measures and reforms (pdf) enacted since September 2017 to improve market efficiency. Among the highlights: Less-sensitive circuit breakers, shorter time-outs when you trip circuit breakers, and a much longer list of securities eligible for same-day (T+0) trading.
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
More fallout in the foreign press on charges against actress Rania Youssef
Still topping coverage of Egypt in the foreign press is the fallout following the charges brought up against Actress Rania Youssef for “indecent exposure.” Pickups of Youssef’s apology is in most major outlets,including NYT. Most are noting that she faces a sentence of up to six years. Youssef is due in court in January. Also […]
Posted inON THE FRONT PAGES
Maait’s reassurances that Egypt’s economy will improve next year tops headlines in state-owned newspapers
Finance Minister Mohamed Maait’s presser on the adjustment of the customs FX rate is the top headline on the front pages of state-owned Al Ahram and Al Gomhuria, with both focusing on the minister’s statements that next year will see an improvement in Egypt’s economic conditions. Al Akhbar, meanwhile, continued to focus on EDEX, which […]
Posted inWorth reading
Towards cost-effective, safe offshore oil platform decommissioning
Dismantling the oil industry: The market for offshore decommissioning, which involves stripping down disused oil platforms, is expected to grow at unprecedented levels as the world moves away from fossils towards cleaner energy sources, writes Reuters' Shadia Nasralla. Oil companies are now spending more than ever to take down their maturing platforms around the world: […]
Posted inEnergy
Eni to drill tenth well in Egypt’s Zohr field next January
Italy’s Eni will begin drilling its tenth well in the Zohr gas field in January 2019 at a cost of USD 300 mn. The addition of the tenth well is expected to boost output production by 200 mcf/, and is predicted to take two months to complete. Production from the tenth well remains dependent on […]
Posted inHealth + Education
Nahdet Misr Publishing to establish two education subsidiaries
Nahdet Misr Publishing is planning to establish two new education-focused companies within two months, Al Mal reports. No further details were provided on the expected investment value or the mandate of the companies.
Posted inReal Estate + Housing
Government sets compensation mechanisms for El Warraq island residents
The government is preparing to offer compensation to citizens affected by the demolitions made in Warraq Island, where residents who refused to be evicted clashed last year with security forces, Prime Minister Moustafa Madbouly announced yesterday, according to a Cabinet statement. Residents can opt for financial compensation, alternative housing in a new city, or resettlement […]
Posted inTourism
Germany’s Bundestag agrees to allot EUR 10 mn co-finance Egypt’s Minya Museum
The German parliament has agreed to allocate EUR 10 mn to help finance the Akhenaten Museum in Minya,Egypt’s Ambassador to Germany, Badr Abdel Aati, announced on Friday, according to Ahram Online.
Posted inAutomotive + Transportation
Halan raises multi-mn Series A round from Algebra Ventures and Battery Road Digital
Tuk-tuk and motorcycle ride-hailing app Halan raised mns in a series ‘A’ round from a group of investors, including our friends at Algebra Ventures as well as Battery Road Digital, according to MENAbytes. The company did not disclose the size of the round. Halan had previously said it was closing in on a USD 2 […]
Posted inBanking + Finance
Hermes’ valU starts Red Sea pilot run
EFG Hermes’ valU, which offers payment-on-instalment services via a mobile app, has begun operating in Hurghada on a trial basis, EFG Finance CEO Walid Hassouna said, according to Al Mal. valU is currently available in 1000 stores across three governorates in Egypt.