Author Archives: enterpriseam admin

MNHD obtains approvals to convert 30% of share capital into GDRs: Madinet Nasr for Housing & Development (MNHD) has obtained approval from the Financial Regulatory Authority and the EGX approval to convert approximately 30% of its share capital into global depositary receipts, according to an emailed statement. The GDRs are expected to start trading on […]

A consortium of Orascom Construction, Engie, and Toyota Tsusho Corporation has reached financial close on a USD 400 mn 250 MW wind farm in Gabal El Zeit tendered under a build-own-operate framework. Shalakany Law Firm acted as local counsel for Japan Bank for International Corporation, Nippon Export and Investment Insurance and commercial lenders SMBC and […]

The Finance Ministry has invited investment banks tender for roles as joint lead managers of the eurobond issuance program which begins in January and looks set to end in June. investment banks have until Monday, 25 December, to submit their technical and financial bids, according to a ministry advert in the Financial Times’ print edition […]

Some policy sanity: Food producers won’t be required to print prices on packaging: Supply Minister Aly El Moselhy issued a decree sparing producers, importers, and distributors of food products from requirements to print the price of a product on each unit, Al Mal reports. Instead, the amended regulations require them to issue receipts that include […]

More sanity? The Agriculture Ministry has officially brought its ergot policy into line with other government agencies, Maha El Dahan writes for Reuters. The decree states that any wheat shipments with an ergot content below 0.05% would be treated and accepted, while those with levels over 0.05% will be rejected. “This fixes a discrepancy in […]

Are China, Turkey and the Ukraine looking to complain to WTO over Egypt’s steel rebar tariffs? China, Turkey and the Ukraine are reportedly looking to file a complaint with the World Trade Organization (WTO) over Egypt imposing anti-dumping tariffs on rebar steel imports from these countries for a five-year period, a number of unnamed steel […]

Head of the Egyptian Competition Authority (ECA) Mona El Garf will stay on the job for another three months or until a new board is voted in, according to an Investment Ministry decree reported by Al Masry Al Youm. The decree followed the recommendation of the Financial Regulatory Authority, which proposed extending El Garf’s tenure […]

MOVES- Tarek Kandil has been picked as Chairman of Misr Iran Development Bank, sources told Al Mal. Kandil, formerly the Chairman of the Suez Canal Bank, would succeed Ismail Hassan.

CORRECTION- We incorrectly reported last week that Egypt’s Project Services Company is investing EGP 40 mn in a calcium chloride plant it will construct with India’s Sanmar Group. PSC Chairman Mohamed El Sebakhy clarified to us that his company is not investing in the project. We also incorrectly spelled Mr. El Sebakhy’s surname. We apologize […]