Author Archives: enterpriseam admin

IPO WATCH- Qalaa to list shares of TAQA Arabia and the parent company of ERC before end of 2019 as part of five-year IPO program: Qalaa Holdings is planning to list a number of its subsidiaries on the EGX over the next five years, beginning with the initial public offering of TAQA Arabia in 3Q2019 […]

M&A WATCH- Compass completes acquisition of 100% of Qalaa’s Designopolis: Sky Realty Holding Ltd, a subsidiary of Compass Investment, acquired 100% of Qalaa’s Bonyan for Development and Trade, Compass and Qalaa said in a statement issued yesterday (pdf). Bonyan is the owner of the Designopolis mall in Sheikh Zayed. “Proceeds from the transaction will be […]

Business conditions in the non-oil private sector appear to have improved only slightly last month, “signalling a deterioration in [its] health,” according to the Emirates NBD PMI reading (pdf) compiled by Markit. The gauge rose slightly 49.4 in June from 49.2 in May, driven by a slight drop in output and exports, as “ both […]

EXCLUSIVE- State privatization program timeline could roll out before the end of next week: The government committee tasked with oversight of the state privatization program is aiming to announce its detailed timeline as early as this week and no later than next, a source familiar with the program told Enterprise. The announcement, which will be […]

LEGISLATION WATCH- Planning Ministry has finished drafting legislation to encourage non-cash payments: The Planning Ministry has completed the first draft of a law governing non-cash payments that means to encourage Egypt’s transition to a cashless economy, said Minister Hala El Said. The Planning Ministry consulted the finance and justice ministries on the legislation, before referring […]

LEGISLATION WATCH- House approves law shielding senior military officials from prosecution: The House of Representatives passed a law that establishes the privileges and benefits of senior military officials, Ahram Gate reports. The law grants senior military generals immunity from prosecution without permission from the Supreme Council of the Armed Forces. Senior generals will also hold […]

Egypt among 10 countries facing a collective USD 1 tn funding gap for infrastructure: Egypt was among 10 African countries facing a collective USD 1 tn shortfall of infrastructure financing required to meet their 2040 development goals, according to a study by the Global Infrastructure Hub (GIH) on the G20 wealthy and developing nations. The […]