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The China Fortune Land Development Company (CFLD) will iron out this week the final details of its contract to develop 14k feddans in phase one of the new administrative capital, government sources tell Al Borsa. The meeting with the New Administrative Capital Company for Urban Development will set the final price of the land, the […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
The Central Bank of Egypt will review interest rates at a meeting of its Monetary Policy Committee on 28 December. Keep an eye on monthly inflation figures due out any time in the coming few days. Ethiopian Prime Minister Hailemariam Desalegn is expected to address Egypt’s House of Representatives sometime this month. Egypt and Ethiopia […]
Posted inEnterprise+: Last Night’s Talk Shows
Jerusalem continues to be the topic du jour
The US’ Jerusalem declaration was still the topic du jour on the airwaves last night, as the nation’s talking heads continued to grapple with potential repercussions. Arab countries should no longer depend on the US to play peacemaker in the region, Palestinian Liberation Organization executive committee member Hanan Ashrawi told Kol Youm’s Amr Adib. She […]
Posted inSpeed Round
Banque du Caire IPO in 3Q2018, Amer says
IPO WATCH- Banque du Caire will IPO in 3Q2018, CBE Governor Tarek Amer said in a statement to the press at the Business for Africa and the World Summit on Thursday, Al Borsa reports. Amer did not provide further details on the planned IPO, which was initially expected to take place this fall, but was […]
Posted inSpeed Round
Sale of NCMP to Cairo Three A closed on Thursday
M&A WATCH- Our friends Pharos Holding and Banque Misr Investment Banking (BMIB) announced on Thursday the closing of the sale of a 97.7% stake in National Company for Maize Products (NCMP) to Cairo Three A through a mandatory tender offer. “I am delighted to witness the final closure of the NCMP transaction which underscores Pharos […]
Posted inSpeed Round
Al Ahly Capital acquires livestock company owned by NBE
M&A WATCH- Al Ahly Capital acquired 100% of the International Company for Livestock from its corporate parent, the National Bank of Egypt, in a EGP 1 bn transaction, Al Ahly Capital CEO Khaled Badawi tells Al Masry Al Youm. The holding company plans on using the livestock company’s 600-feddan farm in Abu Rawash to establish […]
Posted inSpeed Round
CIB appoints two non-execs to its board directors
MOVES- CIB announced the appointments of Amani Abu-Zeid and our friend Magda Habib as non-executive directors of its Board of Directors, according to a bourse statement. The board will advise the bank’s general assembly of the changes at its next meeting.
Posted inSpeed Round
Egypt signs funding agreements totaling almost USD 1.9 bn
Egypt signed a wave of funding agreements totaling almost USD 1.9 bn over the weekend. First up, the World Bank and Egypt signed for disbursement of the USD 1.15 bn third and final tranche of a USD 3.15 bn facility to support economic reforms, the bank said in a statement on Friday. USD 150 mn […]
Posted inSpeed Round
Is OTMT looking to make another play at Oi?
Is OTMT looking to make another play at Oi? Naguib Sawiris reportedly said he is again interested in embattled Brazilian telecom Oi — if Brazil’s government “takes the right steps,” according to Bloomberg. Sawiris’ second change of heart came after the court presiding over Oi’s bankruptcy said the operator’s CEO has the power to negotiate […]
Posted inSpeed Round
Beltone investors acquitted of market manipulation
Investors in Beltone shares acquitted of market manipulation: An economic court acquitted last week all 12 investors accused of manipulating Beltone Financial’s share price, Al Borsa reports. No Belton executive had been implicated in the case, which dates back to February 2016, when investors allegedly bid for large blocks of Beltone shares before canceling minutes […]