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Five foreign consortiums have applied for prequalification for the tender to manage and operate the Grand Egyptian Museum’s (GEM) facilities, government sources said. The consortiums include Italian, Japanese, French, and GCC-based management companies. The Antiquities Ministry will announce the prequalified companies’ names tomorrow, with the deadline to apply set for today at 3pm CLT. The […]
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
Egypt recognized for exceptional leadership in environmental management
Egypt won an award recognizing its “exceptional leadership in environmental management” from the New Partnership for Africa's Development (NEPAD) development agency, according to NEPAD. The awards ceremony — which also honored Morocco, Cameroon, South Africa, Kenya, and Rwanda, among others — was held last Wednesday.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Monday): 14,201 (-0.4%) Turnover: EGP 671 mn (12% BELOW / ABOVE the 90-day average) EGX 30 year-to-date: -5.4% THE MARKET ON MONDAY: The […]
Posted inCALENDAR
24-25 September (Monday-Tuesday): Arqaam Capital MENA Investors Conference 2018, Four Seasons Resorts, Dubai. 24-25 September (Monday-Tuesday): Egypt Water Desalination Forum, venue TBD. 26 September (Wednesday): E-Commerce Summit, Nile-Ritz Carlton, Cairo. 26-30 September (Wednesday-Sunday): 2018 Automech Formula car expo, Cairo International Convention Center, Nasr City, Cairo. 26-27 September (Wednesday-Thursday) The Egyptian Factoring Association (EFA) will host […]
Posted inWhat We're Tracking Today
What we’re tracking on 24 September 2018
Yields on EGP-denominated short-term treasuries continue to rise, central bank data showed, according to Reuters’ Arabic service. An auction yesterday saw yields on 91-day bills rise to 19.62% from 19.43%, while yields at the nine-month auction rose to 19.84% from 19.75% previously. The Finance Ministry has called off three treasury bond auctions this month as […]
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s UNGA visit continues to dominate talking heads’ agendas
President Abdel Fattah El Sisi’s visit to New York for the UN General Assembly continued to dominate the conversation on the airwaves last night. Journalists on the ground in New York called in to recap the president’s visits yesterday (we have the details in What We’re Tracking Today, above), but provided little by way of […]
Posted inSpeed Round
Gov’t looks to collect real estate taxes on billboards, cell phone towers
**#1 EXCLUSIVE- Hungry treasury looks to collect real estate taxes on billboards, cell phone towers: The government is looking to step up its collection of real estate taxes payable on sites used for billboards and mobile network towers, a government source tells Enterprise. The Tax Authority is currently conducting a sweep of the country’s towers […]
Posted inSpeed Round
Amendments to real estate tax to exclude hotels and factories?
LEGISLATION WATCH- Hotels and factories to be exempt from changes to real estate tax system? On the subject of the real estate tax: Forthcoming amendments to the real estate tax will only apply to residential properties, sources familiar with the matter tell Al Mal. The tax treatment of industrial and commercial properties such as factories […]
Posted inSpeed Round
Ezdehar is among several bidders looking to snag Spinney’s from Abraaj
**#4 M&A WATCH- Ezdehar is among several bidders looking to snag Spinney’s from Abraaj, sources close to the matter tell Al Mal. The owners are expected to settle on a buyer and complete the transaction in a month’s time, they add. The newspaper did not name the other bidders. We had reported earlier this month […]