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Fans in Russia, meanwhile, have created stone mosaics of Salah and other star footballers who will be at the World Cup, including Argentina’s Leo Messi, according to RT. Salah’s star power was not lost on Chechnya’s (controversial) leader, who is being accused of using an appearance with the Liverpool striker “to score a public relations […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Call your dad this coming Sunday: It’s father’s day in Canada, Ireland, Mexico, the UK and the United States, among other countries. Not in Egypt, though: Depending on who you ask, Egypt (a) doesn’t have Father’s Day or (b) celebrates it on Thursday, 21 June. Conveniently, 21 June is the first day of summer. Just […]
Posted inEnterprise+: Last Night’s Talk Shows
The Creature Named Okasha looks set to return to the airwaves when talk shows return from Ramadan hiatus
Dig a hole. Make it deep. Crawl into it. Pull the earth in on top of yourself. We can think of no other way to cope with the news that the creature named Tawfik Okasha is returning to television after Eid. That’s right, folks: Okasha, the enemy (the Anti-Murrow if you will) of that is […]
Posted inSpeed Round
EXCLUSIVE- SMEs could get a massive tax break if they join the formal economy
EXCLUSIVE- SMEs could get a massive tax break if they join the formal economy: A Finance Ministry committee tasked with drafting a new SMEs Act has proposed that small businesses earning more than EGP 1 mn a year (and less than a ceiling that has yet to be determined) pay a nominal 1% tax on […]
Posted inSpeed Round
Israel’s Delek could invest up to USD 200 mn to gain access to subsea natural gas pipeline to Egypt’s Sinai
Israel’s Delek could invest up to USD 200 mn to gain access to EMG’s subsea natural gas pipeline to Egypt’s Sinai: Shareholders in Israel’s Delek Group will meet on 1 July to vote on investing USD 200 mn to buy the rights to use a subsea pipeline that would allow the company to export natural […]
Posted inSpeed Round
EAEF investments in Egypt grow to USD 130 mn in 2017
Our friends at the Egyptian American Enterprise Fund (EAEF) reported that their investments in Egypt reached USD 130 mn as of the end of 2017, according to the fund’s 2017 annual report (pdf). EAEF’s investments have also attracted another USD 130 mn from foreign institutional investors. Highlights from 2017 include buying a stake in the […]
Posted inSpeed Round
Omega Capital bids to acquire 20% stake of Galina for EGP 75 mn
M&A WATCH- Egyptian private equity firm Omega Capital made an offer to acquire 20% of British Egyptian Company for General Development Company (Galina) for EGP 75 mn, Galina Chairman Abdel Wahed Soliman tells Al Mal. The agrifoods company, which is 98% owned by the Soliman family, produces frozen fruits and vegetables and exports 95% of […]
Posted inSpeed Round
EGP 70 bn overdraft will not impact budget deficit - El Garhy
BUDGET WATCH- Overdraft won’t blow budget deficit target, El Garhy says. Some EGP 70 bn in overdraft spending for the soon-to-close FY2017-18 budget will not impact Egypt’s targeted budget deficit for the year, said Finance Minister Amr El Garhy. The budget deficit is still on track to fall to 9.8% of GDP by the end […]
Posted inSpeed Round
Starting today, banks and other financial institutions will be allowed to establish mutual funds
REGULATION WATCH- As of today, banks and other financial institutions will be allowed to establish mutual funds, as per a decision from the Financial Regulatory Authority (FRA) published in the Official Gazette, Al Shorouk reports. Banks that want to set up mutual funds must seek CBE approval, while other financial institutions such as insurance companies […]
Posted inSpeed Round
Heliopolis Housing in talks with Electricity Ministry to sell power in New Heliopolis
Property developers are looking to deregulation of the energy market to provide them with new recurring revenue streams: Heliopolis Housing & Development is in talks with the Electricity Ministry for permission to sell power in its New Heliopolis project, Vice Chairman Wael Youssef tells Al Mal. If approved, the company will build a EGP 525 […]