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Another day, another FRA regulatory change — this one gives you more paperwork to file ahead of your AGM: The flurry of regulatory changes from the FRA continues. The latest: Listed companies must now submit their full year financial statement and a copy of their auditor’s report to the FRA one month prior to holding […]
Author Archives: enterpriseam admin
Posted inSpeed Round
FRA rejects Cleopatra Hospital’s bid to acquire El Nozha
In other news from the FRA: The regulator has apparently rejected Cleopatra Hospitals’ bid to acquire El Nozha International Hospital, according to local press pickups of what appears to be an FRA statement on Wednesday. The FRA offered no rationale for the decision. Some shareholders at El Nozha had mounted a pressure campaign on the […]
Posted inSpeed Round
Pharma companies are using higher electricity prices as a pretext to call for a med price raise
Pharma companies are using higher electricity prices as a pretext to call for higher med prices: Pharma manufacturers are planning on petitioning the Health Ministry to increase the prices of a number of medications, using the upcoming increase in electricity prices as justification, according to Gamal El Leithy, a member of the pharmaceuticals division at […]
Posted inSpeed Round
El Sisi defends 26% hike in electricity prices
El Sisi defends 26% hike in electricity prices: The government spends USD 18.6 bn on subsidies to cover fuel, food and electricity, President Abdel Fattah El Sisi said on Tuesday following the announcement of an average 26% increase in next year’s electricity prices,the Associated Press reports. Each family receives an average of about USD 60 […]
Posted inSpeed Round
EEHC signs USD 900 mn syndicated loan, underscoring foreign lenders’ appetite for Egypt
And speaking of electricity: The Egyptian Electricity Holding Company secured on Tuesday a USD 900 mn syndicated loan agreement, sources in the banking industry tell Reuters. The Finance Ministry announced yesterday (pdf) that it brokered the debt facility, which was coordinated by Credit Suisse and HSBC and will be used to pay off the EEHC’s […]
Posted inSpeed Round
Egypt is safer than the US and the UK, the 2018 Global Law and Order Report finds
Egypt is safer than the US and the UK, according to a global ranking by Gallup. The 135-country survey saw Egypt ranked as the safest country in Africa and the Middle East, scoring 88 points on the 2018 Global Law and Order. That’s up from 82 points the previous year. The poll was based on […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
There’s a lesson to learn from China’s investments in African infrastructure
The rest of the world needs to follow in China’s footsteps and consider investing in African infrastructure, Investec Group Co-CEO Hendrik du Toit writes for the Financial Times. He argues that default rates on African infrastructure projects are among the world’s lowest, given the strong fundamentals the continent enjoys, which include a booming population and […]
Posted inEGYPT IN THE NEWS
It’s nice to end an exceptionally slow news week for Egypt in the international press with a couple of pieces into which we can sink our teeth (in a good way):
Posted inEGYPT IN THE NEWS
New administrative capital begins to take form, but how many people will choose to live there?
Egypt’s new administrative capital is beginning to take form, but it is still unclear how many people will actually choose to live there, DW says in an audio documentary on infrastructure and development in Africa (runtime 29:55). The documentary notes that the megaproject — one of the biggest launched by the Sisi administration — is […]