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INVESTMENT WATCH- Kandil Steel plans to invest USD 40 mn to increase by 50% capacity to produce galvanized steel, chairman Amr Kandil tells Al Borsa in an interview. The company hopes to boost production to 900k tonnes from a current 600k by 2019, he added.
Author Archives: enterpriseam admin
Posted inSpeed Round
HC Securities & Investment advising on M&As worth a combined EGP 3 bn, looks to enter leasing market
M&A WATCH- HC Securities & Investment is advising on M&A transactions in Egypt and internationally worth a combined EGP 3 bn, company chairman Hussein Shoukry tells Reuters in an interview on Sunday. The investment bank is concluding four transactions at the moment, he added. HC is the buy-side adviser for unnamed investors from the Far […]
Posted inSpeed Round
Is the Oil Ministry backtracking on ending LNG imports in July?
Is the Oil Ministry backtracking on ending LNG imports in July? “Egypt will stop importing LNG by the end of the year,” Oil Minister Tarek El Molla said at a press conference yesterday, according to Reuters. El Molla had announced last week that Egypt will end LNG shipments by mid-2018, which in retrospect, appears to […]
Posted inSpeed Round
Regional projects to increase national grid capacity by 25 GW in 2018, says Shaker
The Egyptian government is looking to launch an electricity interconnection project with Ethiopia and Sudan through a 1,600 km transmission network, government sources tell Daily News Egypt. The Electricity Ministry had already conducted a feasibility study for the project, but it was halted due to the troubled talks over the construction of the Grand Ethiopian […]
Posted inSpeed Round
SAR 60 bn investment fund is still on
Remember that SAR 60 bn investment fund announced during King Salman’s visit in 2016? It’s apparently still in the works and came up during the Egyptian-Saudi Business Council talks last week. Both sides of the council agreed that investments under the fund will primarily come from the Saudi government, deputy council head Abdullah Bin Mahfouz […]
Posted inSpeed Round
Earnings watch: Vodafone Egypt 3Q2017 results
Service revenues from Vodafone Group’s Egyptian operations rose 18.8% y-o-y in 3Q2017, “with successful segmented campaigns and rising data penetration supporting higher [average revenue per user], combined with strong customer base growth,” according to a company statement (pdf). Vodafone Group’s total revenue dropped 3.6% y-o-y to EUR 11.8 bn during the quarter, down from EUR […]
Posted inUncategorized
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Posted inImage of the Day
Ballerina wearing a headscarf showcases the beauty of dance and Alexandria
Ballerina wearing a headscarf showcases the beauty of dance and Alexandria: Holding a graceful passé position, 20-year-old Aya Magdy posed for a picture on Alexandria’s Stanley Bridge in a headscarf and long-sleeved dress in a bid to promote tourism in her city, Shounaz Mekky writes for Arab News.
Posted inEGYPT IN THE NEWS
A quiet day for Egypt in the News on 5 February 2018
It is a blessedly quiet news day for Egypt in the international press, with coverage largely confined to pickups of the recent discovery of a 4,400 year-old tomb and outlets like the Daily Mail playing “me, too” with David Kirkpatrick’s piece on military cooperation with Israel. The top spokesman for the Egyptian Armed Forces denied […]
Posted inOn Deadline
What’s really behind the sudden drop in poultry prices?
What’s really behind the sudden drop in poultry prices? El Watan’s Mahmoud Khalil wonders if the government pushed the discounted poultry into the market during the run-up to this year’s presidential elections as a means to assuage public discontent about the rising cost of living—and whether the drop in prices will therefore be short-lived. The […]