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EGX30 rebalancing: Who’s in: Egyptalum, Abu Qir Fertilizers, GB Auto, Orascom Construction, and Juhayna. Who’s out: Sidi Kerir Petrochemicals, Oriental Weavers, Domty, the Financial & Industrial Egyptian Co., and Cairo Oil & Soap. Source: EGX statement (pdf). The EGX’s semi-annual review of indices also saw seven companies delisted from the EGX50 EWI, 16 from the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
SODIC targets EGP 8.76 bn in contract sales in 2018
SODIC is targeting EGP 8.76 bn in contract sales this year, according to a company disclosure to EGX. The company is also eyeing sales of EGP 57.8 bn in the next 10 years from its SODIC East project. The first phase of SODIC East has already sold out with EGP 1.8 bn in contracted sales, […]
Posted inSpeed Round
Cabrera Capital Markets partners with HC Brokerage on research, access to US institutional investors
HC inks partnership agreement with Chicago-based outfit: Chicago-based Cabrera Capital Markets has inked a partnership agreement with HC Securities and Investment that will see the Cairo-based firm provide Cabrera with research, corporate access and execution services for US institutional investors looking to tap local opportunities. “This arrangement will also broaden the scope of investment options […]
Posted inSpeed Round
Egypt, Sudan, Ethiopia set one-month deadline to resolve issues in GERD talks
Egypt, Sudan, and Ethiopia set yesterday a one-month deadline for each country to present solutions for “pending technical issues” over the Grand Ethiopian Renaissance Dam (GERD), according to an Ittihadiya statement (pdf). President Abdel Fattah El Sisi, Sudanese President Omar Al-Bashir, and Ethiopian Prime Minister Hailemariam Desalegn, held a trilateral meeting in Addis Ababa yesterday […]
Posted inSpeed Round
House grants preliminary approval to extending Tax Dispute Resolution Act
LEGISLATION WATCH- The House of Representatives gave preliminary approval to extending the mandate of the Tax Dispute Resolution Act for an additional year, Ahram Gate reports. The House Planning and Budgeting Committee had agreed last week to extend the act for only one year, as opposed to the two years Cabinet had approved back in […]
Posted inSpeed Round
Kingdom Holding’s stocks recover after Prince Alwaleed’s release
Shares in Alwaleed bin Talal’s Kingdom Holding quickly recovered to their position prior to Saudi Arabia’s corruption crackdown began in November, Bloomberg reports. “Kingdom Holding rose 2.5 percent to 10.29 riyals on Monday, exceeding the level it was trading at before Saudi Arabia shocked investors with the arrest of dozens of high-profile businessmen and princes […]
Posted inSpeed Round
School-bus-sized dinosaur fossil unearthed in Egypt’s Western Desert
Them Bones: School-bus-sized dinosaur fossil unearthed in Egypt’s Western Desert. Egyptian paleontologists from Mansoura University have unearthed in Egypt’s Dakhla Oasis fossils of a long-necked, school bus-sized dinosaur that lived roughly 80 mn years ago, Reuters reports. The team recovered parts of the Mansourasaurus shahinae’s skull, lower jaw, neck and back vertebrae, ribs, shoulder and […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the News on 30 January 2018
The only story of note on Egypt in the international press is global reaction to Moussa Mostafa Moussa’s bid. Otherwise worth noting in brief: Egyptian Kung Fu champion Moataz “Mizo” Radi competes successfully with China’s top kung fu fighters in international championships, but craves recognition at home, according to The AFP. Underprivileged desert communities are […]
Posted inOn Deadline
Did Mona Zobaa resign because of Sahar Nasr?
Cabinet-table politics at economic group spilling over into the local press? Did GAFI Managing Director Mona Zobaa resign because Investment Minister Sahar Nasr was too difficult to work with? Al Masry Al Youm’s Sabry Ghoneim thinks so, saying that Zobaa’s resignation last week — along with several other Investment Ministry officials — is a clear […]