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Turkey fallout wipes out gains from EM zombie apocalypse rebound: EM equities and currencies continued to take a beating on “Manic Monday,” with the Turkey fiasco not only erasing the July rebound in emerging-market stocks, but also making them the cheapest since early 2016, when equities gained 60% over the following two-year period, according to […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
No single topic leads the conversation on the airwaves
By far the most important thing to take note of on the airwaves were the private school tuition hikes sanctioned by the Education Ministry. It was all a mixed bag from here on out. Education Ministry raises cap on tuition fee hikes for private Arabic, language schools: The Education Ministry has decided to raise the […]
Posted inSpeed Round
DPI partners with GB Auto on Mashroey and Tasaheel
M&A WATCH- DPI partners with GB Auto on Mashroey and Tasaheel: Africa-focused private equity firm Development Partners International (DPI) is partnering with GB Auto subsidiary, GB Capital, on the latter’s microfinance and consumer finance firms Mashroey and Tasaheel in a transaction worth USD 45 mn, DPI announced in a press release this morning (pdf). The […]
Posted inSpeed Round
The EGX is expected to see 4-5 IPOs over the coming eight months
IPO WATCH- The EGX is expected to see 4-5 IPOs over the coming eight months, EGX boss Mohamed Farid told Reuters’ Arabic service in an interview. Farid did not delve into the specifics of the listings, except to say that these companies are expected to raise as much as EGP 6-7 bn. The combined market […]
Posted inSpeed Round
ACCH approves stock split ahead of November stake sale
ACCH approves stock split ahead of November stake sale: State-owned Alexandria Container and Cargo Handling’s (ACCH) EGM approved yesterday a 10:1 stock split ahead of its planned stake sale, Al Masry Al Youm reports. ACCH is one of five companies piloting the state privatization program. The company is expected to sell 30% of its shares […]
Posted inSpeed Round
EPSD signs two agreements worth EUR 70 mn with Germany’s BAG for new manufacturing projects at East Port Said industrial zone
INVESTMENT WATCH- Germany’s BAG to invest EUR 70 mn on manufacturing projects at East Port Said industrial zone: The East Port Said Development company (EPSD) signed two agreements yesterday worth a combined EUR 70 mn with local subsidiaries of Germany’s Business Avenue Group (BAG), according to a Suez Canal Economic Zone statement picked up by […]
Posted inSpeed Round
UAE banks to raise USD 500 mn syndicated loan for TE
UAE banks to raise USD 500 mn syndicated loan for TE: The state-owned Telecom Egypt (TE) has tapped First Abu Dhabi Bank and Mashreqbank to act as joint arrangers for a USD 500 mn, five-year syndicated facility, Reuters reports, citing a statement from the banks. The banks have already begun talks to syndicate the facility, […]
Posted inSpeed Round
Earnings Watch: Ibnsina Pharma, ACC, TE report 1H2018 results
EARNINGS WATCH- Ibnsina Pharma reported a 40.1% y-o-y increase in net profit to EGP 75.2 mn in 1H2018, according to the company’s earnings release (pdf). Revenues grew 46% y-o-y during the six month period, coming in at nearly EGP 6 bn, “driven by double-digit expansion across all business lines,” according to Co-CEO Mahmoud Abdel Gawad. […]
Posted inSpeed Round
Egypt, China ink USD 45 mn agreement to launch NileSat 2
Egypt will receive a USD 45 mn grant from China to launch phase two of its NileSat project under an agreement signed in Cairo yesterday, the Investment Ministry said in statement. Some of the satellite's components will be assembled in China, while others will be assembled locally, Higher Education Minister Khaled Abdel Ghaffar said, giving […]