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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Egypt drumming up more international pressure on Ethiopia? Irrigation and Water Resources Minister Ahmed Abdel Ati is in Paris this week to participate in a climate change conference at which he intends to bring up Egypt’s case with the Grand Ethiopian Renaissance Dam (GERD) in an appeal to international audiences, Al Borsa says. Discussions over […]
Posted inON THE HORIZON
On the horizon
The IMF may disburse the third USD 2 bn tranche of Egypt’s USD 12 bn Extended Fund Facility as late as January, an unidentified government source tells Al Shorouk. Finance Minister Amr El Garhy had previously said that the disbursal is expected before the end of December. The IMF’s Executive Board will meet on 20 […]
Posted inEnterprise+: Last Night’s Talk Shows
A somewhat boring night on the airwaves as talking heads stop talking about Jerusalem
The airwaves served up a (somewhat boring) mixed bag of nuts last night as the talking heads finally grew weary of discussing Jerusalem. Hona Al Assema’s Lamees Al Hadidi spent a chunk of her evening talking about bitcoin, starting with a general overview of the cryptocurrency (watch, runtime: 8:08). Banque Misr Vice Chairman Akef El […]
Posted inSpeed Round
Don’t get your hopes up for a big pay raise in 2018 — but do expect Egyptian banks to do better than their African competitors next year
Employees in Egypt, Albania, and the UK can apparently kiss their 2018 pay raises goodbye, as HR consultancy Korn Ferry predicts that raises will be offset entirely by inflation and price hikes. “In Egypt, top-line salaries will increase by 15%, but an 18.8% inflation rate means employees will see a cut in real wages of […]
Posted inSpeed Round
TBEA Sunoasis to invest in EGP 2 bn PV solar panel factory
INVESTMENT WATCH- China’s TBEA Sunoasis will be investing in a EGP 2 bn in a PV solar panel manufacturing plant in Aswan in partnership with the Military Production Ministry, government sources tell Al Mal. TBEA will put up 49% of the capital in the project, the source added. Both parties have yet to settle on […]
Posted inSpeed Round
Arby’s to open 50 restaurants in Egypt in 2018?
INVESTMENT WATCH- Arby’s is coming back to Egypt. Atlanta fast food chain Arby’s signed a development agreement to open 50 restaurants in Egypt in 2018 with franchisee Vantage Egypt for Tourism and Entertainment, according to the Atlanta Business Chronicle. “We are very determined to make Arby’s one of the most successful restaurant concepts in the […]
Posted inSpeed Round
Ibnsina shares pop 16% in EGX debut
IPO WATCH- Shares of Ibnsina Pharma debuted on the EGX yesterday under the stock symbol ISPH.CA, rising 16% to EGP 6.73 from EGP 5.80 at the opening bell. The first-day success of the IPO is a sign of investor confidence in Egypt’s pharma sector, said the company’s Chairman Mohsen Mahgoub at the opening bell (pdf) […]
Posted inSpeed Round
House Economics Committee looks into Companies Act
LEGISLATION WATCH- The House of Representatives’ Economic Affairs Committee has started looking into amendments to the Companies Act, Ahram Gate reports. While the most visible change to the law seems to be allowing the establishment of sole proprietorship companies, the law also includes amendments to corporate governance regulations. The Ismail cabinet has been tight-lipped about […]
Posted inSpeed Round
Cleopatra Group’s Nile Badrawi placed under Nile Transport Authority’s administrative control
Cleopatra Hospital Group’s Nile Badrawi Hospital has been served with a court order placing it under the Nile Transport Authority’s (NTA) administrative control to compel the hospital to pay the authority EGP 7 mn for allegedly using its land, Cleopatra Group said in a statement to the EGX. Cleopatra notes, however, that the Court for […]