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A delegation of 22 British companies led by UK trade envoy Jeffrey Donaldson is visiting Egypt on 10 February to form a tripartite trade agreement between the UK, Egypt and China to target exporting to African markets. Egypt’s Emirates NBI PMI reading for January will be announced on Monday, 5 February.
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Presidential elections continue to top talking heads’ agendas
With the deadline for presidential candidates to officially enter the race just hours away, the walking dead continued to be largely preoccupied with the election process, with only a couple of business-relevant topics breaking the monotony. For that, we turn to Hona Al Asema’s Lamees Al Hadidi, who spoke on the passing of the Bankruptcy […]
Posted inSpeed Round
House of Representatives passes Bankruptcy Act
LEGISLATION WATCH- The House of Representatives voted yesterday to approve the long-awaited Bankruptcy Act in a plenary session, Youm7 reports. The Act effectively decriminalizes bankruptcy by abolishing prison sentences and allows companies more time and options for restructuring by introducing mechanisms to help settle commercial disputes outside the courtroom and simplify bankruptcy proceedings. The law […]
Posted inSpeed Round
Economist expect interest rates to drop by 500 bps in 2018
Economist expect interest rates to drop by 500 bps in 2018: Economist interviewed by Al Mal see the central bank adopting a very cautious and tight monetary policy this year, with most seeing interest rates falling by up to 500 bps in 2018. The consensus appears to be that while inflation has been declining, the […]
Posted inSpeed Round
USD 4 bn eurobond issuance to take place in second week of February
The Finance Ministry will tap the market with a USD 4 bn eurobond issuance in the second week of February, Finance Minister Amr El Garhy tol d Al Mal. The bonds will be issued on the London and Luxembourg stock exchanges, he says. HSBC, Citigroup, JPMorgan Chase & Co, Morgan Stanley, and National Bank of […]
Posted inSpeed Round
Electricity Ministry begins setting new electricity prices for next fiscal year
In case you needed a reminder: Your electricity bills are going up again in July: Under orders from the Electricity Ministry, the Egyptian Electric Utility and Consumer Protection Agency (Egyptera) has begun drawing up figures for the upcoming hike in electricity prices, which is due to hit our bills in July, ministry sources tell Al […]
Posted inSpeed Round
Government housing could be beyond means of most Egyptians -Werr
Are government housing projects beyond the means of most Egyptians? New houses being built by the government are “are priced way beyond the means of most Egyptians and a good share of them will remain unsold,” analysts tell Patrick Werr. It is not clear how easily the country will be able to absorb the influx […]
Posted inSpeed Round
Mars to inaugurate EGP 750 mn expansion by February’s end -Kabil
INVESTMENT WATCH: International confectionery producer Mars will inaugurate two new production lines by the end of February, Trade and Industry Minister Tarek Kabil said, according to Al Mal. The two lines come with a EGP 750 mn investment and help drive exports from its facilities in Egypt to USD 100 mn annually. Kabil says Mars’ […]
Posted inSpeed Round
Emisal Salts building EGP 6 bn salts production complex
INVESTMENT WATCH- Emisal Salts to establish EGP 6 bn salts production complex: The Egyptian Salts and Minerals Company (Emisal Salts) is planning to establish a EGP 6 bn salts production complex north of Matrouh’s Lake Qaroun, Chairman and Managing Director Abdel Latif El Kordy said, Al Masry Al Youm reports. According to El Kordy, Emisal […]
Posted inSpeed Round
Saudi’s Elaj Group planning to build EGP 500 mn oncology hospital in Egypt
INVESTMENT WATCH- Saudi Arabia’s Elaj Group is planning to build a EGP 500 mn oncology hospital in Cairo, sources close to the matter say, Al Mal reports. They added that Elaj plans to complete construction by year’s end and begin operations in 2019. The Saudi group will finance the project themselves, which will be constructed […]