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Well, that was nice while it lasted: The nation’s news coma ends with a bang today amid reports of possible curbs on foreign borrowing by the state, a USD 2 bn arbitration order in favour of a gas company that could help debottleneck exports, the competition authority bluntly warning Uber and Careem against a merger, […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Where is Lamees?
We start this morning’s talk shows roundup with the question: Where in the world is Lamees El Hadidi? She’s been gone for so long we thinking of turning that question into a board game. As for the lesser half? Well, he took to twitter to call for cell phones to be banned at schools for […]
Posted inSpeed Round
FinMin looks to pull the breaks on foreign borrowing
EXCLUSIVE- FinMin looks to pull the brakes on foreign borrowing: The Finance Ministry could set a limit on fresh international borrowing this year in a bid to curb Egypt’s rising foreign debt and bring public debt down to 91% of GDP, a ministry source told Enterprise on Monday. The curb could include a limit on […]
Posted inSpeed Round
World Bank offers USD 500 mn loan to support Egypt’s cash-subsidy programs
The World Bank has offered a USD 500 mn loan to support Egypt’s cash-subsidy programs: The news of potential limits on fresh debt comes as the World Bank has offered Egypt a USD 500 mn loan to support its Takaful and Karama cash-subsidy programs, Social Solidarity Minister Ghada Wali tells Al Mal. According to the […]
Posted inSpeed Round
Arbitrator orders Egypt to pay USD 2 bn to Union Fenosa Gas over natural gas supply cut to Damietta plant
Arbitrator orders Egypt to pay USD 2 bn in settlements to UGS over cut of natural gas supply to Damietta plant: The World Bank’s International Centre for Settlement of Investment Disputes ordered Egypt to pay USD 2 bn in settlements yesterday to Spanish-Italian JV Union Fenosa Gas (UGS) over a natural gas dispute, the Financial […]
Posted inSpeed Round
Uber, Careem get blunt, public warning from Competition Authority
Competition watchdog gives Uber, Careem get blunt, public warning against merger: The Egyptian Competition Authority (ECA) took the relatively unusual step yesterday of publicly warning Uber and Careem against a merger. Couched in the verbiage of the agency, the ECA noted in a statement to the press (pdf) that it has probed rumors contending the […]
Posted inSpeed Round
Emirates NBD in the market to acquire a bank in Egypt
M&A WATCH- Emirates NBD in the market to acquire a bank in Egypt: Emirates NBD Egypt is looking to acquire a bank in Egypt as it aims to become a top-five private-sector player in the Arab world’s most populous country, CEO Mohamed Berro said a meeting with the press on Monday, Al Mal reports. Berro […]
Posted inSpeed Round
Sarwa Capital sees a valuation of USD 300 mn from IPO
IPO WATCH- Sarwa Capital looks to raise USD 120-125 mn from IPO: Top consumer and structured finance player Sarwa Capital is looking at a USD 300 mn valuation as it looks to raise USD 120-125 mn from a sale of 40% of the company, our friend CEO Hazem Moussa told Bloomberg TV on Monday. While […]
Posted inSpeed Round
Redcon eyes 2Q2019 IPO to finance future expansion plans
IPO WATCH- Redcon eyes 2Q2019 IPO to finance future expansion plans: Redcon Construction is considering floating a portion of its shares in the EGX in an initial public offering in the second quarter of 2019, Managing Director Tarek El Gammal said, Al Mal reports. The company is hoping to raise capital to finance future expansion […]