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IPO WATCH- The government will select the first four or five companies that will part of phase one of the state IPO program in September or October, Finance Minister Amr El Garhy tells Al Masry Al Youm. El Garhy had announced on Sunday that the first of the stake sales may be offered within a […]
Author Archives: enterpriseam admin
Posted inSpeed Round
AMOC reaches USD 500 mn funding agreement with int’l finance institutions
AMOC reaches USD 500 mn funding agreement with int’l finance institutions: Alexandria Mineral Oils Company (AMOC), one of the companies that will list shares in the state IPO program, has reportedly reached an agreement with five international and local banks to finance the company’s USD 500 mn oil refinery project, AMOC sources told Daily News […]
Posted inSpeed Round
Egypt to be upstaged by other EMs as rates drop
Dropping yields in Egypt could mean that fixed income investors will be moving to other emerging markets. Egypt is losing ground as a top haven for emerging market debt investors and interest rate cuts could make its short-term treasuries less attractive to foreign buyers in coming months, a report by CI Capital Asset Management picked […]
Posted inSpeed Round
CPA, ECA investigate steel manufacturers for alleged monopolistic practices
Consumer protection and competition authority are probing steel manufacturers for alleged anti-competitive practices: The Consumer Protection Agency and Egyptian Competition Authority are investigating local steel makers for allegedly engaging in anti-competitive practices after a series of price hikes, Al Borsa reports. Steel factories’ output hovers around 8 mn tonnes per annum, despite having a production […]
Posted inSpeed Round
Auto importers are still haggling over the fine print of the Automotive Directive
Auto importers are fighting the Automotive Directive: Car and truck importers are still looking to delay the inevitable passage of the Automotive Directive by haggling over the fine print and framework for raising domestic components in auto assembly. At issue now: They’re demanding the Trade and Industry Ministry revisit the definition of what constitutes a […]
Posted inSpeed Round
OC JV awarded USD 180 mn contract to expand Fujairah airport
OC JV awarded USD 180 mn contract to expand Fujairah airport: Orascom Construction (OC) announced that its joint venture with Al Sahraa Group has been awarded a contract for the expansion of Fujairah International Airport in the UAE. The contract is worth USD 180 mn approximately and OC’s share of the venture is 60%. “The […]
Posted inSpeed Round
MBC moves to block any disposal of Al Hayat TV trademarks
TV network MBC, through its Egyptian attorneys Shahid Law Firm, have already requested the nullification of any acts of disposal which could take place in connection with the trademarks of Al Hayat TV, the attorneys informed us. This comes in relation to Thursday’s economic court ruling to sequester Al Hayat TV’s trademarks due to the […]
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
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Posted inImage of the Day
Street vendor sells mummies in the late 1900s
Egyptian street vendors have been catering to the whims of tourists since forever, apparently: Selling ancient mummies to wealthy European and American tourists as “tourist souvenirs” was apparently commonplace in Egypt around the nineteenth century, according to Rare Historical Photos. Mummies were readily available from street vendors — such as the one pictured above from […]