Author Archives: enterpriseam admin

M&A WATCH- Mondi completes Suez Bags acquisition. The EGX announced on Thursday that Mondi Paper Sales completed its acquisition of Suez Bags, having bought 7.23 mn shares at EGP 26.01 per share in a EGP 188.1 mn transaction, Al Mal reports, citing a bourse statement. The offer price valued the company as EGP 284 mn. […]

REGULATION WATCH- Shorts are coming: FRA committee completes draft of short-selling regs ahead 3Q2018 introduction: The Financial Regulatory Authority’s (FRA) Capital Markets Committee completed on Thursday its draft of the final framework and rules that will govern short-selling, sources close to the matter tell Al Mal. Short selling will make its debut on the EGX […]

Egypt’s net foreign currency reserves rose to USD 44.31 bn at the end of July 2018, up from USD 44.26 bn at the end of June, the central bank announced on Thursday.

El Sisi, Chinese builder to ink contracts in September for development of new capital’s second phase: President Abdel Fattah El Sisi will sign in September contracts for the construction of the second phase of the new administrative capital with China State Construction Engineering Company (CSCEC), Prime Minister Mostafa Madbouly said, Al Masry Al Youm reports. […]

Over 60% of Japanese companies operating in Egypt are expecting improvements in their profits in 2018, according to a survey conducted by the Japan External Trade Organization (JETRO). Businesses said improvements would be led by increases in local market sales. Companies operating in Egypt are expected to lead the region in terms of profit growth […]

MOVES- Prime Minister Mostafa Madbouly named Planning Minister Hala El Said as Egypt’s representative on the Islamic Development Bank’s governing council, Youm7 reports. Madbouly also tapped Finance Minister Mohamed Maait as El Said’s alternate governor.