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End of November: A delegation from the Egypt-Greece Business Council will visit Athens at the end of November to promote investment, the council’s chairman, Hani Berzi, said. 25-28 November (Sunday-Wednesday): 22nd Cairo ICT, Egypt International Exhibition Center, Nasr City, Cairo. 26-28 November (Monday-Wednesday): 15th Arab International Mineral Resources Conference, Al Manara International Conference Center, Cairo, […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 27 November 2018
*** It’s your last chance to take our 2019 reader survey. Tell us whether you’re investing or hiring. What you expect the exchange rate to be. Whether interest rates are winds at your back — or headwinds. Take part in the largest poll of executive sentiment in Egypt, and we’ll have the results for you […]
Posted inWhat We're Tracking Today
More what we’re tracking on 27 November 2018
MbS has arrived in town as part of his first regional trip after the Khashoggi affair, state news agency MENA reported. (Stuck in traffic yesterday longer than usual? Now you know why.) President Abdel Fattah El Sisi received the Saudi crown prince at Cairo airport on Monday, according to a presidential statement. The two are […]
Posted inWhat We're Tracking Today
Miscellany on 27 November 2018: Brexit outflows, bitcoin’s dead-cat bounce, the death of the Montreal bagel
In miscellany this AM: More than USD 1 tn has flowed out of UK-focused equity funds since Brexit and a survey this month by asset manager Schroders of 400 asset managers found that 35% of participants’ clients “had either moved assets out of the UK this year or were considering doing so, up from 21% […]
Posted inEnterprise+: Last Night’s Talk Shows
MbS’ arrival in Egypt was the belle of the ball on last night’s talk shows
Saudi Crown Prince Mohammed bin Salman’s arrival in Egypt was, by a wide margin, the most popular topic of discussion on the airwaves last night. There was, however, no mention of the havoc MbS’ visit wreaked on Cairo traffic yesterday. MbS choosing to visit Egypt directly after the UAE sends a message that these are […]
Posted inSpeed Round
Egypt’s benchmark EGX30 extends losses to a fifth straight day
The EGX30 posted its fifth straight day of losses yesterday as shares struggled to recover from a 3.8% drop on Sunday (the benchmark index’s sharpest decline since February 2016). Foreign investors led the selloff on moderate volumes that fell just shy of the trailing 90-day average as the EGX30 lost 0.8% by the close of […]
Posted inSpeed Round
Regulator green-lights Orascom’s bid for large minority stake in Sarwa
M&A WATCH- Regulator green-lights Orascom’s bid for large minority stake in Sarwa: The Financial Regulatory Authority (FRA) has approved Orascom Investment Holding’s (OIH) offer to purchase a non-controlling stake in structured- and consumer-finance player Sarwa Capital, it said in a disclosure to the EGX (pdf). OIH, controlled by celebrity investor Naguib Sawiris, will make a […]
Posted inSpeed Round
EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021
EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021: EFG Hermes aims for non-banking financial services to account for 30% of its total profit by year-end and 50% by the end of 2021, CEO Karim Awad told Reuters. The investment bank is looking to get into the insurance and mortgage […]
Posted inSpeed Round
Edita to buy out shareholder in subsidiary
M&A WATCH- Edita to acquire minority partner’s stake in candymaking subsidiary in EGP 60 mn transaction: Edita is buying out Confindal Ltd’s 22.27% stake subsidiary Edita Confectionary Co. in a transaction worth EGP 60 mn, Chairman Hani Berzi told Al Mal. Edita, which already owns 77.7% of its candymaking arm, is nearing a final agreement […]