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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The Tenders and Auctions Act will is up for a plenary session discussion “within days,” House Planning and Budgeting Committee Yasser Omar said on Thursday. A final vote on the law may be pushed to the next legislative session, however, with this current one nearing the end of its term, according to Omar. The House […]
Posted inON THE HORIZON
On the horizon
Late on paying your real estate taxes? The Finance Ministry has got your back with an extended deadline to pay (without late fees) of 15 July, the ministry said in a statement on Sunday.
Posted inEnterprise+: Last Night’s Talk Shows
You can start collecting your pension increase this month
The airwaves were replete with miscellany last night, with the highlight being Finance Minister Mohamed Maait’s take on the beginning of the FY2018-19 year. Maait gave a breakdown on social welfare spending in the new fiscal year in an interview with Masaa DMC’s Eman El Hosary. The minister underscored wage increases for public sector workers […]
Posted inSpeed Round
Carbon Holdings signs contracts for its USD 10.9 bn petrochemicals facility
INVESTMENT WATCH- Carbon Holdings signs contracts for its USD 10.9 bn petrochemicals complex: Carbon Holdings signed on Saturday contracts with the Suez Canal Authority and a host of service providers and technical partners, kicking off its USD 10.9 bn petrochemicals facility known as Tahrir Petrochemicals Corporation (TPC). The 5 mn sqm complex would be the […]
Posted inSpeed Round
Oil Ministry downplays suggestions that Noor field could be 3x Zohr
Oil Ministry advises caution on reports of the size of the Noor field: Oil Minister Tarek El Molla pulled the brakes on reports on reserve figures on the Noor gas field off the coast of North Sinai. He tells Youm7 that the numbers being reported are not official and are not sanctioned by the Oil […]
Posted inSpeed Round
CIRA to re-list on EGX in October, offer 35-40% of the company in international and domestic offerings
EXCLUSIVE- CIRA relisting to take place in October: Cairo Investment and Real Estate Development (CIRA) will relist shares on the EGX in October, sources close to the transaction told Enterprise over the long weekend. The firm is planning offer new shares equivalent to 35-40% of the company’s equity. Some 80-90% of the share sale will […]
Posted inSpeed Round
Ukraine’s Nibulon to invest USD 2 bn in upgrading Egypt’s grain storage and transport infrastructure
INVESTMENT WATCH- Ukraine’s Nibulon will invest USD 2 bn in upgrading Egypt’s grain storage and transport infrastructure under an agreement reached in May with Supply Ministry officials, according to a ministry statement. The investment will be split over four stages, the first of which is expected to begin during FY2018-19 and will involve building state-of-the-art […]
Posted inSpeed Round
Evergrow to build EGP 2 bn fertilizer plant at Sadat City
INVESTMENT WATCH- Evergrow scaling back investment in fertilizer plant? It appears that fertilizer maker Evergrow has reduced projected spending on its calcium diphosphate plant, with Evergrow chairman Mohamed El Kheshen stating that the Sadat City plant will cost EGP 2 bn, down sharply from an initial estimate of EGP 9.5 bn, Al Mal reports. The […]
Posted inSpeed Round
El Sisi urges patience as economic reforms begin to show results
El Sisi urges patience as economic reforms begin to show results: President Abdel Fattah El Sisi made his administration’s economic reform program the highlight of his televised speech on Saturday, which marked the fifth anniversary of the 30 June protests that ousted his Ikhwan-backed predecessor. He noted that while the reforms are tough, they are […]