Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Terrorists kill seven, wound nine Coptics Christians in Minya attack: Terrorists opened fire on buses carrying Coptic Christians making their way to the monastery of St. Samuel the Confessor in Minya on Friday, killing seven on board one bus, according to the Coptic Orthodox Church. The church said that two other buses were also targeted, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EBRD sees Egypt economy improving on Zohr, rising FDI, strengthening exports, improved competitiveness
EBRD sees Egypt economy improving on Zohr, rising FDI, strengthening exports, improved competitiveness: The European Bank for Reconstruction and Development (EBRD) is projecting that Egypt’s GDP growth will reach 5.5% in FY2018-19, up from 5.3% in FY2017-18, according to the November 2018 update to its Regional Economic Prospects Report (pdf). Growth is expected to be […]
Posted inSpeed Round
Egypt to cap foreign borrowing at USD 14.3 bn in next fiscal year -Reuters report
Egypt to cap foreign borrowing at USD 14.3 bn in the next fiscal year? The government is aiming to limit foreign borrowing to USD 14.326 bn in its next 2019-2020 fiscal year, according to a government document seen by Reuters on Thursday. Egypt expects total foreign debt to reach USD 102.863 bn and aims to […]
Posted inSpeed Round
Medhat Khalil considers forming consortium for EGP 500 mn take-private bid on Raya
M&A WATCH- Medhat Khalil considers forming consortium for EGP 500 mn take-private bid on Raya: Raya founder Medhat Khalil is putting together a group of investors to take Raya Holding for Financial Investments private via a mandatory tender offer (MTO) to acquire 100% of the company, Khalil told Al Mal in an interview on Thursday. […]
Posted inSpeed Round
ACWA, Hassan Allam ink PPA for USD 2.3 bn power plant
INVESTMENT WATCH- ACWA, Hassan Allam sign PPA for USD 2.3 bn power plant: The Egyptian Electricity Transmission Company has signed a key power purchase agreement (PPA) with Saudi Arabia utility developer ACWA Power and Hassan Allam Holding for a 2.3 GW, USD 2.3 bn power plant, ACWA said in a Thursday statement. The Luxor plant, […]
Posted inSpeed Round
Misr Insurance, Misr Life Insurance IPOs postponed, pending restructuring
IPO WATCH- Misr Insurance, Misr Life Insurance IPOs postponed pending restructuring: The IPOs of state-owned Misr Insurance and Misr Life Insurance as part of the state privatization program have been postponed until the two companies undergo restructuring, Public Enterprises Minister Hisham Tawfik said. The timeline for the listings (and their initial valuations) are contingent on […]
Posted inSpeed Round
EKH releases additional info on EGP 3 bn Egypt wood product investment
INVESTMENT WATCH- EKH releases additional info on EGP 3 bn wood investment: Egypt Kuwait Holding (EKH) issued a clarification on Thursday on itsrecently announced plans to invest in wood production. The company is investing EGP 2 bn in a compressed wood plant in Beni Suef, which will be built over two phases, according to a […]
Posted inSpeed Round
Egypt competition watchdog raids agriculture export council
Potatogate: Egypt competition watchdog raids Agriculture Export Council: Officials from the Egyptian Competition Authority (ECA) and the police raided the offices of the Agriculture Export Council on allegations of “monopolizing agriculture exports and involvement in raising the price of potatoes,” according to a statement on Thursday by the ECA (pdf). The ECA did not reveal […]
Posted inSpeed Round
Mineral Resources Act will focus on “value-added” minerals
LEGISLATION WATCH- Mineral Resources Act will focus on “value-added” minerals: The amendments to the Mineral Resources Act reflects a desire by the government to focus on resources that can be refined, used for industry or move up the value chain, Oil Minister Tarek El Molla said on Thursday. Speaking at a workshop on the amendments, […]
Posted inSpeed Round
Insurance Act to require insurance on electronic banking transactions
LEGISLATION WATCH- Insurance Act to require insurance on electronic banking transactions: The Insurance Act, which is currently under review by the Financial Regulatory Authority (FRA) board, is expected to introduce compulsory insurance on internet banking to protect banks against cyber attacks, FRA boss Mohamed Omran said. The legislation, which would make FRA the primary regulatory […]