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Sphinx Private Equity Management is planning to set up a new USD 70 mn fund by the end of the year to invest in mid-sized companies, Chairman Marianne Ghaly tells Al Masry Al Youm.
Author Archives: enterpriseam admin
Posted inBanking + Finance
Corplease issues EGP 1.074 bn securitization bonds through five banks
Corporate Leasing Company (Corplease) has issued EGP 1.074 bn in securitization bonds through a five-bank consortium, Al Masry Al Youm reports. The consortium includes CIB, Banque Misr, the National Bank of Egypt, AAIB, and Suez Canal Bank, which acted as managers, promoters, and guarantors. The issuance has been divided into four tranches with 13-month, 3-year, […]
Posted inBanking + Finance
Sherif Samy joins Endowments Authority investment committee
Former Financial Regulatory Authority (FRA) boss Sherif Samy joined the Endowments Authority’s Investment Development Commission, which is expected to draft a comprehensive strategy for the authority in and out of the capital market, according to Al Mal.
Posted inOther Business News of Note
Oriental Weavers looking at Indonesia and Brazil for a carpet factory
Oriental Weavers is looking to establish a new factory to produce carpet fibre in either Brazil or Indonesia, Chairman Mohamed Farid Khamis said yesterday, Al Borsa reports. The company is also close to finalizing feasibility studies for a USD 1.1 bn polypropylene plant in Port Said and is planning to soon launch a USD 160 […]
Posted inEgypt Politics + Economics
Opposition forces denounce President’s warning against boycotting elections
Opposition figures who called for a boycott of the elections denounced President Abdel Fattah El Sisi’s warnings last week, Reuters reports. The group — dubbed the the Civil Democratic Movement and includes rights lawyer Khaled Ali, former MP Mohamed El Sadat, and former anti-corruption head Hisham Genena — called the speech an attempt “to spread […]
Posted inEgypt Politics + Economics
Administrative Court delays its ruling on Dakroury’s appeal against presidential decree bypassing him as State Council head
The Supreme Administrative Court postponed issuing its ruling on Council of State (Maglis El Dawla) judge Yehia El Dakroury’s appeal against the presidential decree that bypassed him as the head of the council, Ahram Gate reports. The court deferred its ruling until the Supreme Constitutional Court — which is a higher judicial power — issues […]
Posted inON YOUR WAY OUT
Mohamed Salah named Uber Egypt’s 2018 brand ambassador
Uber Egypt signed a contract with MS Commercial yesterday to feature Mohamed Salah as its brand ambassador for 2018, the ride-hailing service company announced on social media. The partnership includes shooting an advertising campaign with the football star, as well as selling limited signed merchandise for the fans, according to Digital Boom. Uber Egypt also […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.62 | Sell 17.72EGP / USD at CIB: Buy 17.60 | Sell 17.70EGP / USD at NBE: Buy 17.63 | Sell 17.73 EGX30 (Thursday): 15,089 (+0.3%) Turnover: EGP 1.0 bn (11% BELOW the 90-day average) EGX 30 year-to-date: +0.5% THE MARKET ON THURSDAY: The EGX30 ended Thursday’s session […]
Posted inCALENDAR
3-4 February (Saturday-Sunday): Egypt Investment Forum, Semiramis Intercontinental Hotel, Cairo. 05 February (Monday): Egypt’s Emirates NBI PMI reading for January announced. 08-11 February (Thursday-Sunday): Furnex & the Home international trade fair, Cairo International Convention Center. 10-12 February 2018 (Saturday-Monday): Third Africa STI Forum, Cairo. 12-14 February 2018 (Monday-Wednesday): Egypt Petroleum Show 2018 (EGYPS), New Cairo […]
Posted inWhat We're Tracking Today
What we’re tracking on 01 February 2018
Retailers beware: The crackdown on pricing display begins this morning as the Supply Ministry launches a “sweeping inspection campaign” to see whether shops are complying with a requirement that they clearly display the prices of their wares. Industry representatives tell us most food producers are in compliance with the new regulations already and do not […]