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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s speech at the UNGA reigns supreme on the airwaves
President Abdel Fattah El Sisi’s speech at the UN General Assembly was the talk of the town last night as pundits scrambled to analyze the president’s remarks. Domestic politics has played less in El Sisi’s speeches at the UNGA as conditions have improved with passing years, State Information Services head Diaa Rashwan said on Masaa […]
Posted inSpeed Round
We’ll call off bond sales until yields stabilize –Maait
**#2 We’ll call off bond sales anytime yields get out of hand –Maait: The Finance Ministry will continue to cancel auctions of domestic bonds so long as yields remain high, Finance Minister Mohamed Maait said on Tuesday. Calling off bond auctions is a crucial tool in Egypt’s bid to keep its debt service obligations in […]
Posted inSpeed Round
Shrugging off rising oil prices, the Finance Ministry shelves its fuel hedging plan
**#3 FinMin shelves fuel hedging plan, shrugging off rising oil prices: The Finance Ministry has officially decided to shelve a plan to hedge against rising oil prices, Minister Mohamed Maait said yesterday. Officials had suggested earlier this month that the program might be shelved if oil prices were to stabilize, and Maait’s remarks come after […]
Posted inSpeed Round
Real estate tax on mobile network towers isn’t new?
Real estate tax on mobile network towers isn’t new, but that doesn’t mean the state treasury doesn’t want to collect it: The real estate tax on sites used for mobile network towers is not new has already been in place since the issuance of the Real Estate Tax Law, Vodafone Egypt’s External Affairs and Legal […]
Posted inSpeed Round
CIRA IPO’s retail component is heavily oversubscribed
**#4 IPO WATCH- Retail tranche of CIRA IPO closes 18.9x oversubscribed: Appetite for the retail offering of private sector education outfit CIRA’s IPO was strong, with the EGX announcing that the offering of 14.5 mn shares, for which the subscription period ended yesterday, was 18.9x oversubscribed. Trading on the company’s shares is due to begin […]
Posted inSpeed Round
Saudi’s Elaj to complete acquisition of majority stake in TechnoScan in November
**#5 M&A WATCH- Saudi’s Elaj to complete acquisition of majority stake in TechnoScan in November: Saudi Arabia’s Elaj Group expects to complete its acquisition of a 75% stake in medical diagnostic imaging chain TechnoScan by November, CEO Walid El Sayed says. Elaj is in the “final stages” of talks with Gulf Capital to purchase its […]
Posted inSpeed Round
ERC launches new EGP 200 mn residential development in Sahl Hasheesh
ERC launches EGP 200 mn residential development in Sahl Hasheesh: Our friends at Egyptian Resorts Company (ERC) have launched a new residential project in the Red Sea resort town of Sahl Hasheesh. The Bay Village project — which will cost around EGP 200 mn to construct — will target local and foreign buyers in the […]
Posted inSpeed Round
Alex Port to issue “within days” tenders for consultancy, development, and management of USD 450 mn multipurpose platform
Alex Port to issue “within days” tenders for advisors on USD 450 mn multipurpose platform: The Alexandria Port Authority (APA) will issue “within days” a number of global tenders for a consultant, developer, and operator for its USD 450 multipurpose platform, APA boss Medhat Attiya tells Al Mal. The JV between APA and the Suez […]
Posted inSpeed Round
Railway signs EGP 22 bn contract with Transmashholding for 1,300 railcars
**#6 Railway to buy 1,300 cars from Transmashholding under EGP 22 bn contract: The Egyptian National Railways (ENR) will buy 1,300 railcars from Russia’s Transmashholding under a final contract signed yesterday, according to a Cabinet statement. The Russian company will set up shop in Egypt maintain the rolling stock and train maintenance laborers for 15 […]