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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Egypt’s Emirates NBI PMI reading for January will be announced on Monday, 5 February. A delegation of 22 British companies led by UK trade envoy Jeffrey Donaldson is visiting Egypt on 10 February to discuss a tripartite trade agreement between the UK, Egypt, and China centered on exports to African markets.
Posted inEnterprise+: Last Night’s Talk Shows
Economy back on top on the airwaves
Finally, we are back on economic coverage on the airwaves courtesy of President Abdel Fattah El Sisi’s visit to the Zohr gas field. The notable exception was, of course, Amr Adib, and we’re totally fine with that. As a matter of fact, we actively encourage it. Eni looking at more offshore exploration opportunities? Oil Minister […]
Posted inSpeed Round
FRA issues tighter KYC regs to control access to investor data in capital market
Bye-bye, days of easy shareholder ID as FRA issues tighter KYC regs? The Financial Regulatory Authority (FRA) issued new information protection protocols yesterday that seek to tighten know-your-client regulations for capital market transactions by tightening companies’ access to investor data. Listed companies will have limited access to data about their shareholders under the new regulations, […]
Posted inSpeed Round
Finance Minister to sign off on agreement exempting LCs from stamp tax
Finance Minister Amr El Garhy is reportedly days aways from signing off on an agreement that would exempt banks from paying a stamp tax on letters of credit that are being newly-issued or are up for renewal. The Federation of Egyptian Banks (FEB), headed by CIB Chairman Hisham Ezz Al Arab, has been pushing to […]
Posted inSpeed Round
M2 money supply up 20.9% y-o-y in December 2017
Egypt’s M2 Money Supply climbed 20.9% y-o-y at the end of December to stand at EGP 3.2 tn (USD 181.33 bn), central bank data showed yesterday, according to Reuters.
Posted inSpeed Round
Polish company to build EGP 1.5 bn infant formula plant
INVESTMENT WATCH- Polish group to build EGP 1.5 bn baby formula plant: Poland’s Polva Group plans to build what it’s billing as Egypt’s first industrial-scale infant formula plant in 10 Ramadan City at a total investment cost of c. EGP 1.5 bn, Trade and Industry Ministry Tarek Kabil announced yesterday. Development of the first phase […]
Posted inSpeed Round
CI Capital eyes UAE expansion through brokerage firm acquisition
M&A WATCH- CI Capital is looking to acquire a brokerage firm in the UAE as part of its regional expansion plan, Managing Director and Head of Brokerage Karim Khadr tells Al Mal in an interview. Speaking on the sidelines of the firm’s second annual MENA Investor Conference, Khadr said that CI Capital is hoping to […]
Posted inSpeed Round
EGX had reportedly been investigating El Nozha Int’l stocks prior to complaint
EGX had reportedly been investigating trade in El Nozha shares prior to complaint: The EGX is currently investigating transactions on shares of El Nozha International Hospital from January 2017 until the 18 January 2017, when Cleopatra Hospitals Group filed for a mandatory tender offer to acquire 100% of the 110-bed Heliopolis hospital, an EGX source […]
Posted inSpeed Round
Lagarde praises Egypt’s commitment to economic reforms
IMF Managing Director Christine Lagarde praised the Egyptian government’s commitment to the economic reform program in an interview with Al Shorouk yesterday. Lagarde said that reforms are already beginning to bear fruit, with inflation levels expected to cool to around 12% in 2018 and FDI projections looking up thanks to improvements on the security front. […]