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It’s a busy news day today, with no sign that the presidential election has slowed down foreign or domestic investors’ appetite for Egyptian opportunities. The Financial Regulatory Authority (FRA) announce the launch a movable collateral assets registry today, Al Mal reports. The FRA had signed an agreement with the Egyptian Credit Bureau (iScore) last year […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Stop us if you’ve heard this one before: The first direct flight between Moscow and Cairo in over two years is expected to take off in late March or early April, according to Akhbar El Youm’s print edition. Sources tell the newspaper that necessary permits will be issued this week. Flights had been set to […]
Posted inEnterprise+: Last Night’s Talk Shows
National Cement Company strike testing Public Enterprises Ministry’s reforms
Striking National Cement Company workers are testing Public Enterprises Minister Khaled Badawi’s goal of bringing private sector management principles to state companies. And we’re glad to see he isn’t bowing down to pressure. Not much else of note on an airwaves dominated by school lunches, talk of expat voting, and football. Public Enterprise Ministry holds […]
Posted inSpeed Round
Inflation eases to 14.4% in February
Annual urban inflation fell to 14.4% in February from 17.1% in January, according to a CAPMAS release. Core inflation dropped to 11.88% from 14.35% a month earlier. The drop in inflation rates paves the way for a potential interest rate cut later this month, Reuters suggests. “The Central Bank of Egypt is ahead of target […]
Posted inSpeed Round
Carbon Holdings planning what could be the largest IPO in Egypt since 2011
EXCLUSIVE: IPO WATCH- Carbon Holdings has reportedly tapped a top investment banking house to serve as advisor and global coordinator for an IPO that would value the company north of USD 1 bn, we’re told by sources with knowledge of the preparations. The stake sale is likely to be the largest IPO in Egypt since […]
Posted inSpeed Round
Finance Ministry updates projection for budget deficit this year to 9.6-9.8% of GDP
The government is expecting the budget deficit for the current fiscal year to reach 9.5-9.7% of GDP, down from 10.9% in FY2016-17, according to a statement from Ittihadiya. It expects this to drop again to 8.5% of GDP in FY2018-19. The Finance Ministry had announced on Thursday that the budget deficit for FY2017-18 will reach […]
Posted inSpeed Round
Transportation Ministry is kicking off railway privatization
Transportation Ministry to kick off privatization of railway system: The Transportation Ministry is reportedly about to begin privatizing Egypt’s railways and divvying up railway assets for the private sector to manage, ministry sources tell Al Borsa. The ministry will establish companies to manage each railway and these will be run by private companies, they added. […]
Posted inSpeed Round
Egypt aims to build on strong recovery in the tourism sector from 2017
Egypt aims to build on the strong recovery of its tourism sector in 2017 with a better marketing strategy, Tourism Minister Rania El Mashat told tourism portal FVW. “We must be more flexible and faster with our marketing,” El Mashat said, adding that “Egypt needs to find a story to tell and then adapt it […]
Posted inSpeed Round
Egypt drops case against Ahmed Ezz due to expired statute of limitations
Prosecutors drop case against Ahmed Ezz as statute of limitations kicks in: The Cairo Criminal Court dropped the case against steel magnate Ahmed Ezz and former Industrial Development Authority Chairman Amr Assal, ruling that the statute of limitations for the case has expired, Al Masry Al Youm reported. The two had been accused of squandering […]