Author Archives: enterpriseam admin

IPO WATCH- The National Investment Bank could list as many as 9-11 of its holdings on the EGX, informed sources tell Al Mal. The government committee formed to restructure the bank last May is looking into the bank’s assets and how best to make use of them, Planning Minister Hala El Said told reporters on […]

INVESTMENT WATCH- UAE clean energy firm Masdar is eyeing opportunities in “the burgeoning Egyptian wind sector,” CEO Mohamed Al Ramahi tells the National in an exclusive. The company is looking at a collaboration between Egyptian companies and Japan’s Marubeni to develop about 800 MW of wind projects across the country. “Basically we will put our […]

Meanwhile, negotiations between Siemens and the Electricity Ministry over a 2 GW wind farm have again come to a grinding halt after two months of talks failed to move the project forward, sources close to the matter tell Al Borsa. The project had been put on hold back in May pending further negotiations with Siemens […]

INVESTMENT WATCH- Saudi Arabia’s Savola Group is planning to increase its investments in Egypt over the coming period to keep up with rising demand for its products, Group CEO Bader Hamad Al Aujan tells Al Shorouk. The company, which says it has about EGP 28 bn in investments in Egypt, will add more production lines […]

A number of Egyptian banks are looking to tweak their capital structures to comply with Basel III regulations. Banque Misr, the National Bank of Egypt (NBE), and the Egyptian Arab Land Bank are among a number of institutions feeling pressured by new capital adequacy requirements, especially in light of the November 2016 EGP float. Banque […]

We’re coming close to an announcement of El Sisi’s presidential reelection campaign: President Abdel Fattah El Sisi will hold a two-day state-of-the-nation conference from 17-19 January at which he is expected to outline his achievements during his first four-year term in office, according to a statement from Ittihadiya. The conference will also include meetings with […]

The Administrative Control Authority (ACA) has arrested Menoufia Governor Hisham Abdel Basset on charges of corruption and graft. According to a statement by the ACA widely picked up by the local press, Abdel Basset had been arrested for allegedly selling state land to two businessmen who were also detained. The investigation had turned up evidence, […]

The Consumer Protection Agency (CPA) has been investigating Lactalis-Halawa, the domestic partner of French dairy group Lactalis, for three weeks amid allegations it has sold contaminated dairy products, CPA head Atef Yacoub said, Al Mal reports. According to Yacoub, the investigation is limited to products that were manufactured using dairy from a specific farm and […]

Great MbS Purge looks to expand beyond Saudi: Saudi Arabia’s public prosecutor will pursue extradition of corruption suspects living abroad as part of the Great Purge of Crown Prince Mohamed Bin Salman. Evidence is being collected against “fugitives” ahead of indictments against them and requests that foreign governments return them to the kingdom, Prosecutor Saud […]

CORRECTION- Emaar’s contract with Orascom Construction Industries (OCI) for the construction of the Marassi marina basin is worth EGP 800 mn, and not EGP 800 bn as we mistakenly wrote in Thursday, 11 January’s issue. We apologize for the mixup. The entry has been corrected on our website. H/t Mounir S.