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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Next week is shaping up to be very busy on the diplomacy front: Egypt will extend its leadership on energy policy in the Eastern Med next week when Cypriot President Nicos Anastasiades and his Greek counterpart, Prokopis Pavlopoulos, visit on Monday. Look for plenty of talk about energy and curbing Turkish influence in the region. […]
Posted inEnterprise+: Last Night’s Talk Shows
Bad weather and HRW report in the spotlight on a dry night on the airwaves
The combination of bad weather and a national holiday left the airwaves with little of value to offer last night. The crazy weather was, of course, the talk of the town. The amount of rainfall in areas like New Cairo was unexpected, Cabinet spokesperson Ashraf Sultan told Masaa DMC’s Osama Kamal. He said that the […]
Posted inSpeed Round
Finance Ministry expects inflation rate to rise in July
EXCLUSIVE- Finance Ministry expects inflation to “slightly” and temporarily rise in July: The inflation rate could increase fractionally in July due to “a number of economic policies,” Vice Minister of Finance Mohamed Maait told Enterprise on Tuesday. While Maait declined to get into specifics, our take is that he was referring to plans to slash […]
Posted inSpeed Round
Finance Ministry plans digital revamp of tax filing system, aims to clamp down on bogus receipts in bid to bolster state revenues
EXCLUSIVE- Finance Ministry plans digital revamp of tax filing system, aims to clamp down on bogus receipts in bid to bolster state revenues: The Finance Ministry is looking to revamp the tax filing system, with the goal of making it fully digital and building a single platform to file and report all of one’s taxes, […]
Posted inSpeed Round
Abraaj exits CIRA
M&A WATCH- Abraaj exits education company CIRA: Emerging markets private equity giant Abraaj has reportedly sold its 35% stake in CIRA back to the Egyptian education company’s founding shareholders, Al Mal reports. The stake was bought by Social Impact Capital Ltd, a vehicle belonging to the family of Hassan El Qalla, according to the newspaper. […]
Posted inSpeed Round
Retail offering of CI Capital IPO was 29.45x oversubscribed
IPO WATCH- The retail offering tranche of CI Capital’s IPO on the Egyptian Exchange was 29.45x oversubscribed traders said, according to Reuters. The firm generated orders worth EGP 9.9 bn (USD 560 mn) during the book-building process and the institutional offering, which was c.6.1x oversubscribed. CI Capital had priced the share in at EGP 7.70. […]
Posted inSpeed Round
Is Uber really going to invest USD 100 mn in its support center in Egypt?
INVESTMENT WATCH- Is Uber really going to invest USD 100 mn in its support center in Egypt? Uber is reportedly planning to invest USD 100 mn in its Cairo support center in the coming five years, according to statements attributed to Uber COO Barney Harford by Al Mal. Harford, who is reportedly visiting Egypt, supposedly […]
Posted inSpeed Round
UAE’s Mubadala prepares for Egypt oil & gas debut
UAE’s Mubadala looking to acquire 10% Zohr stake next month as it prepares to enter Egyptian market: The Abu Dhabi-based Mubadala Petroleum is expected to sign next month the final contracts for its acquisition of a 10% stake in the Zohr gas field from Italy’s Eni, Oil Minister Tarek El Molla said yesterday, Al Shorouk […]
Posted inSpeed Round
Is Merlon looking to invest USD 55 mn next fiscal year?
INVESTMENT WATCH- Is Merlon looking to invest USD 55 mn next fiscal year? American oil outfit Merlon International is reportedly looking to spend USD 55 mn in Egypt next fiscal on exploration, Merlon JV PetroSilah Petroleum Chairman Taher Abdel Rahim told Al Shorouk. USD 20 mn will be allocated to drilling eight wells in its […]