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SETTING THE RECORD STRAIGHT- Al Mal’s print edition came out yesterday with what is purportedly an interview with CIB Chairman and Managing Director Hisham Ezz Al-Arab. We checked with our friends at CIB, who explained while a handful of points were drawn from publicly available sources including the bank’s 2017 annual report, Hisham had not […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Correction - CI Capital actually reeled in EGP 9.9 bn in demand during IPO book-building
CORRECTION- We had incorrectly said in yesterday’s issue that CI Capital had reeled in orders totaling EGP 3.17 bn (USD 179.0 mn). The figure was actually the market capitalization of the firm prior to the closed subscription. The firm generated orders worth EGP 9.9 bn (USD 560 mn) during the book-building process, which was c.6.1x […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
Mystery of Australian soldier gone missing in Egypt revealed after 100 years
The mystery of an unknown Australian soldier who went missing in Egypt during the First World War has been solved, ABC reports. Gallipoli veteran Private Edward Attfield was considered a deserter from the Australian Army for over a century until Victorian researcher Martin Elliget helped identify his grave in Egypt. Attfield, whose body was discovered […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 23 April 2018
Nothing to see here, folks. Move along. It’s a wonderfully slow news day in Egypt.
Posted inDiplomacy + Foreign Trade
Diplomacy + Foreign Trade on 23 April 2018
Egypt rejects UNESCO’s nomination of imprisoned photojournalist for press freedom award: The Foreign Ministry denounced in a statement yesterday UNESCO’s intention to award the Guillermo Cano World Press Freedom Prize to imprisoned photojournalist Mahmoud Abou Zeid (aka Shawkan), who was arrested while covering anti-government protests in 2013. Playing ball: Egypt said on Sunday it welcomed […]
Posted inManufacturing
Algioshi Steel planning new SCZone plants, new production line
Algioshi Steel is planning to open two new production facilities in the Suez Canal Economic Zone and invest EGP 250 mn in a new production line at its existing facility this year, Chairman Tarek Algioshi tells Al Shorouk. The company is in talks with local banks to finance its planned expansion. Output from its current […]
Posted inAutomotive + Transportation
GE to begin delivering refurbished locomotives in November, new units in 2H2019
Egypt is due to start receiving its 100 new locomotives from General Electric as of 2H2019, a cabinet statement said yesterday. GE will also begin in November delivering the 81 locomotives it had been upgrading under its USD 575 mn agreement with the government. Sources said last month that the Transport Ministry plans to put […]
Posted inAutomotive + Transportation
Four global companies bidding on Cairo Metro’s Line 2 supply contract
Mitsubishi, Rotem, Alstom, and an unnamed Chinese company are competing over a National Authority for Tunnels (NAT) tender to deliver six trains and two locomotives for the Cairo Metro’s Line 2, a source tells Al Mal. The purchase will be financed by a USD 100 mn loan signed back in December with the European Bank […]
Posted inAutomotive + Transportation
Cabinet could force state entities to transport portion of their cargo via river
The Ismail Cabinet is reportedly preparing to issue a decision that would mandate government entities to transport at least a portion of their cargo via river. The Transport Ministry is currently drafting the decree, which will set a minimum quota for river transport and determine the type and size of cargo that can be transported […]