Author Archives: enterpriseam admin

EXCLUSIVE- DBK Pharma resurrects IPO, mulls dual-listing on Egypt and Saudi stock exchanges in 1H2019: DBK Pharma’s long-awaited initial public offering appears to be back on, but this time the company is planning a dual-listing in Egypt and Saudi Arabia, sources close to the transaction told Enterprise yesterday. DBK is planning to offer as much […]

REGULATION WATCH- Your next EGX trade could cost you an extra five piastres to fund a new NBFI federation. That’s the message from the Financial Regulatory Authority (FRA), which is mulling an EGP 0.05 tithe on any capital market transaction executed by a brokerage firm, with the proceeds being channeled to the operating budget of […]

Siemens to sign management contracts for the three combined cycle plants next week: It appears that the Electricity Ministry had settled on having Siemens run the day-to-day operations and maintenance of the three combined-cycle power plants in the new capital, Burullus, and Beni Suef. The global giant built the plants with local partners including our […]

EXCLUSIVE- Gov’t looking at how to fund higher spending on commodities for newborns; move is part of expansion of social safety net in El Sisi’s second term. The Madbouly government is debating on how to fund increased commodity subsidies for 6 mn newborns, which the state defines as kids under the age of two, sources […]

Oil Ministry inks three new agreements for oil and gas exploration in North Sinai and the Gulf of Suez. The first agreement, between GHP Exploration Corp. and the South Valley Petroleum Holding Company, will see the company drill four new wells at a cost of about USD 6 mn at the West Gabal El Zeit […]

LEGISLATION WATCH- House committee approves amendments to Gov’t Accounting Act enshrining transition towards a cashless economy: The House of Representatives’ Planning and Budget Committee approved on Tuesday amendments to the Government Accounting Act that legally enshrine the transition towards a cashless economy, Al Mal reports. The amendments aim to bring the act up to speed […]

Global Innovation Index: Egypt stands out among lower-middle income countries and is most improved in MENA. Egypt climbed 10 spots to rank at 95 on the Global Innovation Index (GII) for 2018, up from of 110 last year. The country witnessed the biggest improvement in overall ranking for the MENA region and was one of […]