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On another night of bland miscellany, the conference on Libya in Palermo continued to lead the conversation on the airwaves. The conference was long overdue and the international community should have directed more attention to the crisis in Libya as it was unfolding, former Foreign Minister Mohamed Orabi tol Al Hayah Al Youm (watch, runtime: […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Last night’s talk shows: Heliopolis garage, local produce, residency for home purchases
The region’s first “stacked” car garage is about to open in Heliopolis: The first phase of the EGP 230 mn Roxy Garage — the Middle East’s first public garage with a hydraulic parking system — is slated for inauguration by next month, Chairman of the Roxy Garage Company Mahmoud Farag told Hona Al Asema. The […]
Posted inSpeed Round
Egypt is the star of oil-importers in the region, according to the IMF
Egypt is the star among regional oil importers, according to the IMF: Egypt is setting the trend for growth and adoption IMF-backed economic policies among oil importing countries in the Middle East, according to the oil importers chapter of IMF’s November 2018 Regional Economic Outlook: Middle East and Central Asia (pdf). “Continued strong growth in […]
Posted inSpeed Round
Here’s what Egypt’s market regulator claims Beltone investment banking did wrong
Regulator’s grounds for suspending Beltone’s investment banking license are becoming increasingly clear: The Financial Regulatory Authority (FRA)’s grounds for suspending Beltone’s IPO unit from all market activity for a six-month period have yet to be disclosed, leaving market chatter to fill the vacuum. The suspension came after the FRA received complaints from investors about the […]
Posted inSpeed Round
FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero
EXCLUSIVE- Last gasp of the automotive directive? A senior government official tells us the trade and finance ministries are studying a proposal that would impose a 10-20% “development fee” on all car sales — but then offset these for locally assembled or manufactured vehicles, which would be eligible for discounts or waivers of other fees […]
Posted inSpeed Round
Jordan wants to increase natural gas imports from Egypt
Jordan wants to import more natural gas from Egypt — enough to eventually cover as much as a third of the kingdom’s demand, Jordanian Energy Minister Hala Zawati said, according to Reuters. The bid hinges on construction of a pipeline between Jordan and Iraq that has been delayed due political instability, Zawati said. She added […]
Posted inSpeed Round
Cabinet approves establishment of permanent committee to handle Egypt’s human rights portfolio
CABINET WATCH- The Madbouly Cabinet signed off yesterday on the establishment of a permanent Human Rights Committee, according to an official statement. The committee is mandated with handling all issues pertaining to Egypt’s human rights portfolio, including responding to allegations of rights abuses and putting in place a vision and policy strategy for improving Egypt’s […]
Posted inSpeed Round
Earnings watch: Raya Contact Center reports 3Q2018 results
Raya Contact Center reported (pdf) a 14% y-o-y increase in consolidated net profit in 3Q2018 to EGP 48.5 mn, up from EGP 42.5 mn in 3Q2017. Revenues for the quarter were up 21.5% y-o-y to EGP 238.4 mn, up from EGP 196.3 mn during the same period last year.
Posted inSpeed Round
CORRECTION
CORRECTION- The EGPC owes UK’s Rockhoppers Exploration arrears of USD 1.9 mn, not USD 1.9 bn as we reported yesterday, for the latter’s interest in the Abu Sennan concession. We have since corrected the story on our website. Apologies for the clumsy fingers, folks.
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 — […]