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Matouk Bassiouny expands to the UAE: Law firm Matouk Bassiouny has officially opened up shop in Dubaiunder the banner Matouk, Bassiouny & Ibrahim, according to a press release picked up by Zawya. The firm brought onboard Ahmed Ibrahim, “one of the UAE’s top corporate and ECM lawyers,” as a name partner, the release said, and […]
Author Archives: enterpriseam admin
Posted inSpeed Round
OC adds USD 520 mn in new awards to its 3Q2018 backlog, with 60% coming from Egypt
Orascom Construction (OC) added USD 520 mn in new awards to its 3Q2018 backlog, the company said in a statement on Monday (pdf). Consolidated backlog as of 30 September 2018 stood at USD 4.1 bn. Egypt accounted for approximately 60% of new awards, which were mainly across the infrastructure and wastewater treatment sectors. US sales […]
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Israel may struggle to deliver gas to Egypt in contracted volume
Israel may struggle to deliver gas to Egypt in contracted volume. Israel’s domestic pipeline network reportedly does not have the capacity to carry all the natural gas the Tamar and Leviathan partners have contracted to sell to Egypt, according to a report by israel’s TheMarker, picked up by Haaretz. Neither the Tamar nor Leviathan fields […]
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Oil Ministry is in talks with UGS to reduce Egypt’s USD 2 bn settlement payment over Damietta gas supply interruptions
The Oil Ministry is in talks with Spanish-Italian JV Union Fenosa Gas (UGS) to reduce a USD 2 bn settlement it has been ordered to pay over gas supply interruptions at the Damietta liquefaction plant, an unnamed ministry source said, according to Al Shorouk. According to the source, the ministry is also expected to resume […]
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Egypt FX reserves reach USD 44.501 bn at end-October
Egypt’s net foreign reserves rose marginally to USD 44.501 bn at the end of October, up from USD 44.459 bn a month earlier, the central bank said on Monday.
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Helwan Cement signs off white plant sale
M&A WATCH- Helwan Cement EGM signs off its white plant sale: The extraordinary general assembly of the Helwan Cement has signed off an agreement to sell its white cement plant to Emaar Industries, parent company Suez Cement said in a disclosure to the EGX on Monday (pdf)on Monday. Helwan Cement will split off the company […]
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House to discuss E-commerce Act next week
LEGISLATION WATCH- Gov’t to introduce proposed E-commerce Act to the House on 15 November: The government will introduce its proposed E-commerce Act to the House of Representatives on 15 November when the House CIT Committee starts hearings, committee chair Rep. Ahmed Badawi told Amwal Al Ghad. Background: Local press had noted that the law was […]
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FRA issues corporate governance guidelines for factory and leasing companies
REGULATION WATCH- The Financial Regulatory Authority issued corporate governance guidelines for factoring and leasing companies on Monday. The regulations govern everything from the constitution of boards and meetings to governance committees and guidelines on conflict of interest. You can read them all here (pdf).
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Brazil FM’s visit to Egypt called off over Israel slight?
A visit this week to Egypt by Brazil’s foreign minister has been canceled in protest of Brasilia’s plan to recognize Jerusalem as the capital of Israel. “Aloysio Nunes Ferreira was set to fly to Cairo for a Nov. 8-11 visit, during which he was to meet with President Abdel Fattah el-Sisi and his counterpart Sameh […]
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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 — […]