Author Archives: enterpriseam admin

INVESTMENT WATCH- France’s Vicat Group planning to invest USD 50 mn, increase its stake in Sinai Cement. Sinai Cement’s majority shareholder, Vicat Group, is planning to invest USD 50 mn to reverse its subsidiary’s losses, Managing Director Gianfranco Tantardini said, Al Borsa reported. Vicat — which acquired 40% of Sinai Cement in 2003 — is […]

INVESTMENT WATCH- Will the gov’t sign off on the USD 900 mn Elsewedy / Marubeni / Masdar wind farm project this week? The UAE’s Masdar and Elsewedy Electric plan to hold high level meetings with the government to get its final sign off on the USD 900 mn development of two wind farms planned with […]

INVESTMENT WATCH- Emirati company SEED Group is planning to expand its investments in Egypt during the coming period, CEO Hisham Al Gurg tells Al Shorouk. The company, which is owned by Sheikh Saeed bin Ahmed Al Maktoum and has holdings from tech and healthcare to real estate and tourism, has already signed a franchising agreement […]

Frontier markets specialist Renaissance Capital could look to broaden its shareholder base as it plans to expand into new markets such as Saudi Arabia, Bloomberg reports. “Joining forces with a partner is one of the possible scenarios,” Chairman Christophe Charlier says. “Nothing is imminent,” he explained, but a partnership with a sovereign wealth fund is […]

Moody’s says collateral assets registry is credit positive to Egypt’s banks: Ratings agency Moody’s praised on Thursday the recently launched movable collateral assets registry, saying that the ove will help banks reduce their credit risk, particularly for loans to SMEs. Moody’s said (paywall) that this registry is credit positive for banks, noting that it will […]

Egypt will resume gas exports to Jordan by early 2019, Oil Minister Tarek El Molla told his Jordanian counterpart Saleh Kharabsheh, according to Petra News Agency. The minister’s announcement comes as EGAS and state energy firm Enppi signed a USD 13 mn agreement to build a 17 km steel pipeline for the Jordanian-Egyptian Fajr for […]

EgyptAir will resume direct flights between Cairo and Moscow as of 12 April, CEO Safwat Musallam announced in a statement. The national carrier will operate flights on Sundays, Tuesdays, and Thursdays, he said, and tickets are now on sale. The news came days after Russian airline Aeroflot announced it would resume direct flights for the […]

MOVES- AT Lease announced appointing Hossam Kassem as CFO for the company, according to a company disclosure.

Zaki Hashem & Partners and Linklater have been tapped as legal advisors to the investment banks managing Egypt’s planned EUR 1-1.5 bn bond issuance, Al Mal reports. BNP Paribas, Deutsche Bank, Standard Chartered, and Intesa Sanpaolo have been tapped to manage the issuance, which is slated for before the start of FY2018-19. Al Tamimi & […]