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M&A WATCH- Beltone Financial is planning new acquisitions to diversify the products it offers in frontier and emerging markets. “Beltone is in a very big growth mode,” CEO Bassem Azab said in an interview with Bloomberg on Wednesday. “We spent the past two years establishing and re-positioning ourselves in investment banking, asset management and brokerage. […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Elsewedy Electric-Siemens consortium awarded USD 300 mn EPC contract in Dubai
An Elsewedy Electric consortium with Siemens was awarded a USD 300 mn EPC contract by the Dubai Electricity and Water Authority (DEWA) for the Aweer H station, phase IV Power Plant in Dubai, the company announced. The 800 MW gas-fired open cycle power project is located in AI Aweer in Dubai and is to come […]
Posted inSpeed Round
Resumption of flights from Russia awaits aviation watchdog’s approval
On restoring flights with Russia, Egyptian officials say one thing, while the Russians say another: Carriers EgyptAir and Aeroflot have not yet received permits for flights between Cairo and Moscow from Russia’s Federal Air Transport Agency, said Russia’s Federal Air Transport Agency head Alexander Neradko, TASS reports. This followed comments by Egypt’s ambassador to Russia, […]
Posted inSpeed Round
Benban receives Thomson Reuters project finance award, companies break on projects ground after receiving licenses
The Benban solar power complex won Thomson Reuters’ Project Finance International Award for “Global Multilateral [transaction] of the Year” yesterday. The USD 2 bn complex, where 30 solar power plants will eventually generate around 1.5 GW of power, represents the second phase of Egypt’s feed-in tariff (FiT) program and is being funded by a number […]
Posted inSpeed Round
Cabinet gives preliminary nod to Pharma Regulator Act, approved amended Customs Act
The Ismail Cabinet granted preliminary approval yesterday to the Pharma Regulator Act, according to an official statement. The legislation would establish three separate bodies to regulate the pharma sector: The Supreme Council for Medicine and Medical Technology to set and implement overarching policies for the sector; the Egyptian Medical Technology Authority to oversee the procurement […]
Posted inSpeed Round
Syrian reconstruction a “generational project”
A reconstruction boom to take place in post-war Syria? The reconstruction of Syria is going to be a “generational project” as the destruction is severe and widespread in scale, Steven Heydemann, Middle East studies professor at Smith collegetells Carnegie Middle East Center. Heydemann talks about the politics of reconstruction and it how it is set […]
Posted inSpeed Round
Uber is bolstering its investments in EMs despite tough year
Uber is bolstering its investments in EMs in a tough year for the company: Despite a tough year of lawsuits, data breaches, and rising competition, Uber saw its greenfield investment in overseas operations rise to a new high of USD 191 mn during 2017, a 57% increase from its previous high in 2015 and almost […]
Posted inSpeed Round
Did Saudi Arabia open its airspace for Israel-bound flights?
Did Saudi Arabia allow Israel-bound commercial flights to use its airspace? The Kingdom reportedly granted Air India approval to operate direct flights from Delhi to Tel Aviv in a historic first, sources in the Israeli flight industry told Haaretz. However, a spokesman for Saudi Arabia's General Authority of Civil Aviation speaking to Reuters denied the […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Bored foreign press rehashes old political analysis and calls it new
What do you get when you mix a slow news day, a 24-hour news cycle, bored writers, and an election in Egypt? A string of (often rambling) pieces passing as political analysis in the foreign press. From the Washington Post, we have a report on the internal divisions within the Wafd Party between those supporting […]