Author Archives: enterpriseam admin

**#6 M&A WATCH- SDX in talks with BP to acquire assets in Egypt: SDX Energy announced on Thursday that it was in open talks with BP to acquire “a significant package of [its] assets in Egypt.” It’s not immediately clear which assets SDX hopes to acquire, but the company said in a press release (pdf) […]

Eni, Tharwa to begin Noor field drilling this week: Italy’s Eni and Egypt’s Tharwa Petroleum will reportedly begin drilling this week their first exploratory well in the offshore Noor gas field in North Sinai, an unnamed EGAS official tells Reuters. Eni had signed a USD 105 mn concession agreement with the government last month to […]

**#7 Sawiris, other gold bugs look to goose miners’ share prices: Naguib Sawiris’ La Mancha Group and a number of other investors have joined New York-based hedge fund Paulson & Co. on an initiative that means to “promote constructive engagement between the gold mining industry and the investment community,” according to a press release picked […]

New disbursals from international lenders coming: The World Bank’s board has unanimously approved a USD 300 mn loan to Egypt as part of the planned upgrade of water and wastewater infrastructure in rural communities, Investment and International Cooperation Minister Sahar Nasr said. The program, which was launched back in 2015, has already drawn in USD […]

Egypt’s sukuk market is full of untapped potential -Moodys: Egypt is one of 18 African countries that have a lot of unexplored potential to tap in the sukuk market, Moody’s Investor Service said in a press release about a recent report. The agency expects at least USD 1 bn in sukuk to be issued in […]

**#8 Egypt edges one step closer to EU migration pact as officials agree to begin formal talks: It looks as though Austrian Chancellor Sebastian Kurz swayed his EU counterparts to open formal talks with Egypt on expanding cooperation on stemming illegal migration, according to an Associated Press report on Thursday. “Egypt is the first country […]

**#9 AWB defendants freed on EGP 100k bail: The sons of former president Hosni Mubarak and three others were freed on a EGP 100k bail each on Thursday, following their arrest the previous weekend on charges of insider trading stemming from the sale of Al Watany Bank of Egypt to the National Bank of Kuwait […]

CABINET WATCH- Cabinet signs off on various int’l funding agreements at weekly meeting: The Madbouly Cabinet signed off on a number of international funding and aid agreements on Thursday, according to an official statement. including a EUR 243 mn agreement with South Korea for the supply of 32 metro cars for the Cairo Metro lines […]

KUDOS- EFG Hermes Foundation boss named 2018 SDG pioneer by UN Global Compact: Hanaa Helmy is “is creating initiatives that directly better people’s lives by curbing disease, delivering education and jobs and improving local infrastructure” by “integrating the best efforts of governments, civil society and the private sector,” the UN Global Compact writes in a […]

Emirates is looking to acquire its UAE rival airline Etihad in a merger that could form the largest airline in the world, people familiar with the matter tell Bloomberg. Talks are already underway, but are at a preliminary stage, the sources added. The two companies have denied they are in talks to combine their businesses. […]