Author Archives: enterpriseam admin

**#5 Headline inflation inches up again in August after brief slowdown in July, monthly core inflation eases to 1.8%: Annual headline inflation climbed to 14.2% in August, up from 13.5% in July, data from the central bank showed on Monday (pdf). Annual core inflation — the CBE’s preferred gauge, which strips away volatile items such […]

**#6 The Natural Gas Regulatory Authority has postponed the issuance of natural gas import licenses to private sector companies, saying the private sector is “unprepared,” according to an EGAS source. EGAS has renewed preliminary approval to grant Qalaa Holdings’ TAQA Arabia, BB Energy and Fleet Energy the import licenses, effectively giving them additional time after […]

**#7 IPO WATCH- CIRA Announces price range for IPO, first day of trading by 1 October: Leading private-sector education provider Cairo Investment and Real Estate Development’s (CIRA) expects to price its IPO at EGP 5.45 to EGP 6.30 per share as it moves ahead with an offering of nearly 38% of the company to both […]

IPO WATCH- Five state companies to list, sell shares in the EGX in 1Q2019: It appears that the Madbouly Cabinet has settled on five companies to kick-off the second phase of the state privatization program in 1Q2019, Finance Minister Mohamed Maait told Al Mal on Tuesday. While he did not name the companies, he noted […]

**#8 M&A WATCH- Suez Cement to sell Minya white cement plant to Emaar Industries: Suez Cement subsidiary Helwan Cement has agreed to sell its white cement plant in Minya to Emaar Industries, the company said in a statement (pdf). The transaction comes as Suez Cement looks to continue to bolster its financial position under and […]

INVESTMENT WATCH- BP to invest USD 2 bn in Egypt next year: BP is planning to invest USD 2 bn in Egypt in 2019, BP North Africa Regional President Hesham Mekawi tells Al Shorouk in an interview. BP Group CEO Bob Dudley had said back in February that the firm was investing USD 1 bn […]

Cabinet economic group to review how land is allocated to industry: Prime Minister Mostafa Madbouly met on Monday with the cabinet economic group to look into establishing a new committee to review how land is allocated to industry, according to a Madbouly Cabinet statement. The committee would be mandated with putting in place clear standards […]

Egypt, Cyprus contract European company to link power grids: Egypt and Cyprus have reportedly reached an agreement in principle with an unnamed European company to link the two countries’ power grids, an unnamed source from the Electricity Ministry tells Al Mal. The project will cost an estimated USD 1.5 bn, the source says, and contracts […]

Gov’t expands PPP schools program to 1,000 and launches second phase in Dec: It appears that the government has substantially increased the scope of its public-private partnership (PPP) program to develop schools to 1,000 schools from 200, according to Ater Hanoura, who heads up the Finance Ministry’s PPP unit. Phase two of the program alone […]

TOURISM WATCH- Thomas Cook says bookings not hit by death of couple in Hurghada, on track for 30-35% increase in its Egypt volume this year: Thomas Cook expects its Egypt bookings to grow 30-35% this year compared to last, the British company’s Egyptian agent, Moody El Shaer, told Reuters’ Arabic service on Monday. El Shaer […]