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The bad: The Pharaohs lost 2-1. To *Saudi Arabia*. In stoppage time. We shall never again speak of the events of the 2018 FIFA World Cup. Ever. Even Twitter feels sorry for us: “Hug an Egyptian today. An absolutely brutal World Cup for them,” wrote Washington Post foreign affairs reporter (and football aficionado) Ishaan Tharoor. […]
Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The Finance Ministry will present the House with a report on the government’s ‘private accounts’ (or slush funds, as we prefer to see them) in two days’ time, Minister Mohamed Maait said yesterday, Al Masry Al Youm reports. The ministry is currently putting together a list of all private accounts and details on their cashflows […]
Posted inON THE HORIZON
On the horizon
Appeals Court to rule on Ibnsina antitrust case on 16 July: The Cairo Court of Appeals is expected to rule on 16 July on Ibnsina Pharma’s appeal of antitrust sanctions imposed in a case brought by the Egyptian Competition Authority. A Cairo Economic Court had ruled in March that Ibnsina, United Pharma, Ramco Pharm and […]
Posted inEnterprise+: Last Night’s Talk Shows
Talking heads have World Cup on the brain
Everyone and his / her semi-literate brother-in-law took to the airwaves last night to bemoan Egypt’s miserable 2-1 loss against Saudi yesterday at the 2018 Fifa World Cup. Among them: a host of sports critics including Yasser Ayoub (watch, runtime: 40:25) and Hassan El Mestikawy (watch, runtime: 3:51), as well as former football stars Wael […]
Posted inSpeed Round
Gov’t plans to issue “clear and simplified” guidelines for tax assessment of real estate
LEGISLATION WATCH- The Madbouly government is gearing up for a major overhaul of how real estate taxes are calculated, sources with knowledge of the matter told Enterprise yesterday. The government has reportedly decided to leave the tax regime unchanged for now as it as it works on a new formula that would set “clear and […]
Posted inSpeed Round
EGX raises daily limit on intraday trading
REGULATION WATCH- EGX raises daily limit on intraday trading: The EGX has begun raising the daily limit on the percentage of shares that can be traded intraday, the bourse said in a statement on Monday. The daily limit was doubled to 0.01% of a company’s total shares, from 0.005%. The new regulations also allow brokers […]
Posted inSpeed Round
Ebtikar acquires 33.7% stake in Masary
M&A WATCH- Ebtikar acquires 33.7% stake in payments outfit Masary: Ebtikar for Financial Investment, a joint venture between B Investments and MM Group, acquired a 33.7% stake in e-payments firm Masary in a transaction worth EGP 130 mn, Ebtikar said in a statement on Monday (pdf). The transaction on Masary, which now has some 60k […]
Posted inSpeed Round
Paymob founders launch Accept Payments
More from the e-payments scene: The people behind payments firm PayMob have launched Accept Payments, which plans to offer a single platform for companies to handle a variety of transactions, the company said in a statement (pdf) on Monday. This single platform, the company says, will provide businesses with a reduction of fixed costs stemming […]
Posted inSpeed Round
MM Group backs out of acquiring Alturki Holding subsidiaries
M&A WATCH- MM Group backs out of acquiring Alturki Holding subsidiaries: MM Group has decided not to move forward with a planned acquisition of 100% of three subsidiaries of Alturki Holding, MM said in a regulatory filing with the EGX on Monday (pdf). MM Group had signed a letter of intent back in March with […]