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M&A WATCH- Veon withdraws EGP 15 bn bid for Global Telecom: Amsterdam-based Veon Holdings withdrew a mandatory offer to purchase the 42.3% of Global Telecom Holding (GTH) that it doesn’t already own, according to regulatory filing from GTH (pdf). Veon, which owns 57.7% of GTH, said it withdrew the offer and had no intention to […]
Author Archives: enterpriseam admin
Posted inSpeed Round
TE says it is still seeking an EGP 13 bn facility, denies it has been pulled by banks
TE says it is still seeking an EGP 13 bn facility. Telecom Egypt (TE) denied reports that a syndicate of banks including the National Bank of Egypt, CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole have pulled the plug on an EGP 13 bn facility it signed last July with NBE, Reuters’ Arabic […]
Posted inSpeed Round
Orange Egypt appoints Marwa El Ayouti as CFO
MOVES- Vodafone Egypt’s CFO has crossed the street to Orange. Marwa El Ayouti (LinkedIn) has joined Orange Egypt as chief financial officer, according to a company release (pdf). El Ayouti had served with Vodafone Egypt since 2000, rising to become CFO, a post she held for nearly seven years. She also served as Vodafone Group’s […]
Posted inSpeed Round
El Sisi signs off on new railway act, penal code amendments as House kicks off talks on Unified Planning Act
LEGISLATION WATCH- New Railway Act now in effect: President Abdel Fattah El Sisi signed into law yesterday amendments to the Railway Act that would allow private sector participation in developing, managing, and operating railway projects, Youm7 reports. The House of Representatives had signed off on the act early last month. The Transport Ministry is reportedly […]
Posted inSpeed Round
Gov’t nominates 100 companies to work with Rosatom on Dabaa power plant
The government has compiled a list of 100 Egyptian companies it will qualify to work on the USD 30 bn Dabaa nuclear power plant as subcontractors to Rosatom, according to government sources. The nominees cover a range of jobs, including electricity, construction, and consultancy. All of the usual private- and public-sector suspects are name-checked in […]
Posted inSpeed Round
** SMART PEOPLE WANTED. We’re hiring at both Enterprise and at our parent company, Inktank. We’re looking for critical thinkers who have outstanding English-language writing skills. Don’t apply if you are not (at an absolute minimum) unafraid of numbers. Among the many posts we have open right now: Senior investor relations advisors at Inktank, who […]
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
Drawing found in Sinai could change what we know about Judaism
A 3,000-year-old drawing found in North Sinai may change what the world knows about the history of Judaism, Haaretz reports. The possible depiction of King Yoash of the kingdom of Judah was unearthed at the Kuntillet Ajrud archaeological site near the Israeli border and could be “the only contemporary visual description we have of a […]
Posted inEGYPT IN THE NEWS
Foreign press continue coverage of the presidential election
The presidential election is still getting significant attention from the international press, with particular attention given to “the surprise runner up — the invalid votes.” The Washington Post says the unusually large number of invalid ballots suggests “a possible protest vote against El Sisi or the election itself.” The beat-down continues: In another article, the […]
Posted inEGYPT IN THE NEWS
Egypt is coming out on top in the regional scuffle over East Med gas
Egypt is coming out on top in the regional scramble for effective control of East Med gas: Egypt, Israel, and Cyprus’ recent gas findings and agreements have played out in Egypt’s favor and left Turkey out in the cold, Deutsche Welle says. Tension between Turkey and its neighbors in the region have made “the option […]