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The airwaves had little of value to offer last night after what was a relatively quiet news day. Egyptian expats can update their bourse data using passports now: The Financial Regulatory Authority (FRA) approved a decision yesterday that will allow Egyptian expats to update their information on the EGX’s database using their passports, as opposed […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Friendlier terms on oil and gas production sharing agreements to take effect in 1Q2019
** #1 Friendlier terms on oil and gas production-sharing agreements to take effect in 1Q2019: The Oil Ministry is reportedly planning to roll out new production sharing contracts with friendlier terms for international oil companies in the first quarter of 2019, after it concludes its next tender for Red Sea exploration blocks at the end […]
Posted inSpeed Round
Egypt ranks 94 out of 140 on WEF’s Global Competitiveness Index
** #2 Egypt ranked 94th out of 140 countries on the World Economic Forum’s Global Competitiveness Index. Where we’ve improved: Egypt’s innovation capability improved slightly from last year’s reading, as did the efficiency of the country’s legal framework in settling disputes, while the cost of starting a business has declined. Although we continue to lag […]
Posted inSpeed Round
First sukuk issuance coming next FY, Maait confirms
** #3 First sovereign sukuk issuance coming next fiscal year, Maait confirms: Egypt’s first sovereign issue of Sharia-compliant sukuks in FY2019-2020, Finance Minister Mohamed Maait confirmed to Reuters. The minister did not disclose the expected size of the issuance. A senior government official had told us earlier this week that the Finance Ministry is looking […]
Posted inSpeed Round
Giza Spinning to kick off IPO roadshow “soon” ahead of December offering
IPO WATCH- Giza Spinning to kick off IPO roadshow “soon” ahead of December offering: Privately-owned Giza Spinning and Weaving is finalizing the plans for an international roadshow for its IPO, which is slated for December, sources with knowledge of the matter tell Al Mal. The roadshow will take the company to Saudi Arabia, the UAE, […]
Posted inSpeed Round
Sutherland plans to double its Egypt outsourcing business
** #4 INVESTMENT WATCH- ْOutsourcing service provider Sutherland Global Services is planning to double its business in Egypt, according to an Information Technology Industry Development Agency press release (pdf). The expansion came as Sutherland signed an agreement with ITIDA that will see it open a new call center in Cairo and hiring 750 full-time employees […]
Posted inSpeed Round
Papermaker Fine looks to move Middle East factories to Egypt
** #6 INVESTMENT WATCH- Fine Hygienic Holding looks to move Middle East factories to Egypt: Fine Hygienic Holding is considering closing some of its Middle East factories and building up production capacity in Egypt in the coming period to meet local demand and make Egypt it’s regional export hub, said company executive Rawan Amish. She […]
Posted inSpeed Round
El Sisi, Putin sign cooperation agreement, but nothing on Red Sea flights
** #7 El Sisi, Putin sign cooperation agreement — but nothing yet on bringing back Red Sea flights: President Abdel Fattah El Sisi and Russian President Vladimir Putin signed yesterday a cooperation and partnership protocol designed to improve ties and grow bilateral trade, according to an Ittihadiya statement. The two presidents discussed everything from the […]
Posted inSpeed Round
Will the FEI attempt to dissuade the FinMin from raising taxes on entertainment venues?
** #8 LEGISLATION WATCH- FEI aiming to convince FinMin not to raise taxes on entertainment venues? Members of the Federation of Egyptian Industries’ (FEI) cinema production division are expecting to meet Finance Ministry officials in the coming days to discuss their reasons for rejecting proposed legislative amendments that would hike cinema ticket prices, the division's […]
Posted inSpeed Round
Madbouly presses cabinet to do more for investors
CABINET WATCH- Madbouly presses cabinet to do more for investors: Prime Minister Moustafa Madbouly urged the cabinet to work on improving the investment environment and expedite tendering of new projects, according to a cabinet statement. He gave ministers one week to submit any projects in their pipelines that they plan to tender to investors. No […]