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President Abdel Fattah El Sisi will host his fifth National Youth Conference on Wednesday, Al Ahram reports. Previous editions of the conference, which is meant to take place every three months, were held in Sharm El Sheikh, Aswan, Ismailia, and Alexandria. No details were provided on the location of Wednesday’s edition. Organizers have set up […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
The IMF should issue its progress report on Egypt’s economic reform program in two weeks’ time, Deputy Chief of Media Relations Alistair Thomson tells Al Masry Al Youm. A delegation is in town until 17 May to finish a review that should unlock another USD 2 bn of the USD 12 bn IMF extended fund […]
Posted inEnterprise+: Last Night’s Talk Shows
CIB’s Hisham Ezz Al Arab, Banque Misr’s Mohamed El Etreby are happy with the economic outlook
Last night’s talk shows had plenty to offer by way of economic commentary, but the highlight by far was a sit-down on Al Hayah Al Youm to discuss the economic outlook for Egypt, starring our friend CIB Chairman and Managing Director Hisham Ezz Al-Arab and Banque Misr Chairman Mohamed El Etreby. Egypt has largely regained […]
Posted inSpeed Round
Banking Act will be ready in July
LEGISLATION WATCH- Banking Act will be ready in June: The Banking Act will be ready and presented to the Ismail Cabinet on 1 June, CBE Governor Tarek Amer said in at workshop on the economy held by Al Ahram. The law would reduce the power of the CBE governor by giving the central bank’s board […]
Posted inSpeed Round
Qalaa plans to list multiple subsidiaries beginning 2H2019, ERC to start trial operations by November
IPO WATCH- Qalaa plans to list some of its subsidiaries on the EGX beginning 2H2019: Qalaa Holdings is planning to list multiple subsidiaries on the EGX while retaining stakes in them, our friend Ahmed Heikal tells Al Shorouk. The Qalaa founder and chairman said he expects to begin listing these companies as of 2H2019, noting […]
Posted inSpeed Round
Knock Mart completes acquisition of Dina Farms
EXCLUSIVE- Knock Mart completes acquisition of Dina Farms retail stores: Online grocery delivery specialist Knock Mart has completed the acquisition of 100% of Qalaa Holdings’ Arabian Company for Services and Trade, the parent company of supermarket chain Dina Farms, Knock Mart Chairman Ahmed Taher tells Enterprise. He did not disclose the price tag for the […]
Posted inSpeed Round
Dr. Oetker looks set to acquire Cook’s Industries in EGP 1 bn transaction
M&A WATCH- Dr. Oetker looks set to acquire Cook’s Industries in EGP 1 bn transaction: German food producer Dr. Oetker is reportedly in the final stages of talks to acquire full ownership of Cook’s Industries in a transaction valued at more than EGP 1 bn. Emerging markets private equity giant Actis, which rumor had it […]
Posted inSpeed Round
TE to finalize MENA Cables acquisition within a week
M&A WATCH- TE to finalize MENA Cables acquisition within a week: Telecom Egypt (TE) expects to finalize the details of its USD 90 mn acquisition of MENA Submarine Cables Systems within a week, TE CFO Mohamed Shamroukh reportedly said yesterday, Al Mal reports. TE is currently confluding negotiations with Orascom Telecom and Media and Technology, […]
Posted inSpeed Round
Are Eni and Lukoil investing in USD 700 mn gas plant in the Western Desert?
INVESTMENT WATCH- Are Eni and Lukoil investing in USD 700 mn gas plant the in Western Desert? Italy’s Eni and Russia’s Lukoil plan to invest USD 700 mn to develop a natural gas processing plant in the Western Desert, said Mohamed El Kaffas, chairman of Eni joint venture AGIBA. The plant is expected to have […]
Posted inSpeed Round
NBE to arrange USD 1 bn for Al Ghurair Group’s Canal Sugar refinery
NBE to arrange USD 1 bn for Al Ghurair Group’s Al Canal Sugar refinery: The National Bank of Egypt (NBE) is arranging a USD 1 bn syndicated loan for the UAE’s Al Ghurair Group’s Al Canal Sugar refinery, sources with knowledge of the matter tell Al Shorouk. The NBE is currently in talks with a […]