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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
GAFI to break ground on Nuweiba freezone this Saturday: The General Authority for Freezones and Investment (GAFI) expects to break ground on the Nuweiba freezone on Saturday, Red Sea Ports Authority spokesman Malaak Youssef said. The 1 mn sqm zone is expected to see as much as USD 40 mn in infrastructure-related investment, South Sinai […]
Posted inEnterprise+: Last Night’s Talk Shows
World Cup continues to dominate the debate on the airwaves
The national football team’s return from Russia opened up a fresh can of worms last night, with various constituents of the football community making calls and appearances on the airwaves to place blame, largely on the Egyptian Football Association (EFA), and apparently for over-inflating expectations. The EFA was less concerned with preparing the team and […]
Posted inSpeed Round
Is Eni about to announce a natural gas discovery 3x the size of Zohr?
Is Eni about to announce a natural gas discovery 3x the size of Zohr? Italy’s Eni could unlock as much as 90 tcf of natural gas reserves from the Noor field in the offshore North Sinai Shorouk concession, Gulf-based Arab News writes, citing a combination of ministry sources and recent remarks by former oil minister […]
Posted inSpeed Round
First wave of share sales in gov’t privatization program coming in July or August
EXCLUSIVE- First wave of share sales in gov’t privatization program coming in July or August: The first wave of state companies selling shares as part of the government’s privatization program is coming in either July or August, Finance Minister Mohamed Maait tells Enterprise. The minister stopped short of specifying which company would go first, but […]
Posted inSpeed Round
Fraudsters, individuals with history of regulatory violations to face restrictions sitting on public company and NBFI boards
REGULATION WATCH- From the Department of Common Sense: Convicted fraudsters and those with histories of regulatory violations will face extra scrutiny before being allowed to sit on the boards of companies over which the Financial Regulatory Authority (FRA) has oversight, Al Mal reports, citing regulatory changes passed by the FRA. The new provisions apply to […]
Posted inSpeed Round
Is FinMin looking to significantly reduce mandate of Tax Dispute Act?
Is FinMin looking to significantly reduce mandate of Tax Dispute Act? The Finance Ministry is considering amendments to the Tax Dispute Resolution Act that would reduce its current mandate of two years to only four months, ministry sources told state-owned MENA, according to Al Shorouk. Two reasons were given to this change to the law: […]
Posted inSpeed Round
FRA signs off on Mondi acquisition of Suez Bags
M&A WATCH- FRA signs off on Mondi acquisition of Suez Bags: The Financial Regulatory Authority (FRA) gave its official blessing to Mondi’s acquisition of a 70.1% stake in Suez Bags, according to an EGX notice on Tuesday. Mondi will buy 7,666,435 shares at a price of EGP 26.01 per share, pricing the transaction at EGP […]
Posted inSpeed Round
SCZone to sign management contracts for East Port Said container terminal with PSA International and CMA CGM “soon”
The SCZone is to sign management contracts for East Port Said container terminal with Singapore’s PSA International and France’s CMA CGM “soon.” It looks as though talks are back on with both Singapore’s PSA International and France’s CMA CGM for the construction and management of a new platform and container terminal at East Port Said, […]
Posted inSpeed Round
Hany Soliman appointed as Cabinet’s media adviser
MOVES- Hany Soliman was appointed as the Madbouly cabinet’s media adviser as of 21 June, according to a statement. Soliman will hold the position for a one-year term.