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23-24 September (Sunday-Monday): Arab Security Conference on cyber security, Nile-Ritz Carlton, Cairo. 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. 25 September (Tuesday): President Abdel Fattah El Sisi in New York for UN General Assembly. 26 September (Wednesday): E-Commerce Summit, Nile-Ritz […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 23 September 2018
It’s a busy news day here in Cairo, ladies and gentlemen. But first, let’s start the morning with some good news: Leading private-sector schools outfit CIRA has priced its IPO — and the offering is more than 10x oversubscribed on the back of heavy demand from global institutional investors. It’s the first IPO of the […]
Posted inWhat We're Tracking Today
Physical retail isn’t dead
Wait, physical retail isn’t dead? The death of brick-and-mortar retail is effectively ‘conventional wisdom’ in many circles — but if you read closely enough, it’s clear that the future of retail is “clicks-to-bricks.” Online retailers are opening physical stores (and sometimes using them to showcase collections that haven’t yet been released online) and ‘traditional’ retailers […]
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi at the UN dominates coverage
The airwaves are clogged with political and foreign relations pundits offering nothing in the way of original analysis President Abdel Fattah El Sisi makes his latest fall visit to New York for the UN General Assembly. But before we get to that, Hona Al Asema dove into last week’s abysmal performance on the EGX, which […]
Posted inSpeed Round
It looks like we’re not quite going to make our deficit target
**#2 EXCLUSIVE- It looks like we’re not quite going to make our deficit target: The Finance Ministry is planning to amend the FY2018-19 budget deficit target at the end of the month on projections that we may — just barely — miss it, a government source told Enterprise. The deficit for the year is projected […]
Posted inSpeed Round
Tariffs on EU cars will still fall to zero next year, says Nassar
**#3 EXCLUSIVE- Tariffs on EU cars will still fall to zero next year, says Nassar: Trade and Industry Minister Amr Nassar told Enterprise overnight that the government has no plan to put on hold a tariff cut on cars imported from the European Union. Automobiles imported from the EU will enjoy zero-duty access to Egypt […]
Posted inSpeed Round
CIRA share price set at EGP 6 after successful 10.36x institutional offering
**#4 IPO WATCH- CIRA prices IPO at EGP 6 per share; offering is more than 10x oversubscribed amid heavy demand from institutional investors: Leading private sector education outfit Cairo for Investment and Real Estate Development (CIRA) has priced its IPO at EGP 6.00 per share, above the midpoint of the EGP 5.45 to EGP 6.30 […]
Posted inSpeed Round
Fate of natural gas pipeline from Cyprus hinges on Nicosia’s talks with Aphrodite field partners
Fate of natural gas pipeline from Cyprus hinges on Nicosia’s talks with Aphrodite field partners: Construction of an underwater pipeline linking Cyprus’ Aphrodite natural gas field with liquefaction facilities in Egypt will reportedly start in 1Q2019, just as the final contracts for the project are signed, Oil Ministry sources claimed to Al Mal on Thursday. […]
Posted inSpeed Round
LSE-listed Soco to acquire Egypt-focused Merlon
**#5 M&A WATCH- LSE-listed Soco to acquire Egypt-focused Merlon Petroleum: London-listed Soco International announced in a statement on Thursday that it has reached an agreement to acquire Merlon Petroleum El Fayoum Co. in a USD 215 mn transaction. The transaction, if executed, would give Soco a 100% working interest in the Western Desert’s Fayum Concession. […]