Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
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 visit Egypt and deliver a speech at the House of Representatives […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Regional developments dominate the airwaves
Regional politics, led by the death of former Yemeni president Ali Abdullah Saleh at the hands of Houthi rebels, dominated the airwaves during an otherwise dull night. Al Hayah Al Youm’s Tamer Amin spoke to the Yemeni Embassy in Cairo’s media advisor, Baleegh El Mekhlafy, who said that Yemenis are distraught over Saleh’s assassination yesterday […]
Posted inSpeed Round
Exxon Mobil looking to invest in Egypt’s offshore fields
Exxon Mobil knocking on Egypt’s door: Government officials and industry sources said Exxon Mobil is looking to invest in Egypt’s offshore oil and gas fields, Reuters reports. Oil Minister Tarek El Molla says company officials already met with him to discuss upstream operations. “We have been discussing with them, visiting them. They’ve visited us... We […]
Posted inSpeed Round
FX reserves stable at USD 36.7 bn in November
Egypt’s FX reserves were essentially stable at USD 36.723 bn at the end of November from USD 36.703 bn at the end of October, the central bank said on Monday. With reserves at a comfortable level, the CBE has begun unwinding FX crisis-era measures to restrict outflows, including repealing caps on USD deposits and withdrawals […]
Posted inSpeed Round
IDH-Man Capital joint venture invests in Nigeria
INVESTMENT WATCH- Two Egyptian powerhouses have joined with the International Finance Corporation (IFC) to acquire a medical diagnostics business in Nigeria. Integrated Diagnostics Holdings (IDH) and Mansour Group investment arm Man Capital announced they are investing (pdf) in Eagle Eye Echo-Scan Services Limited, a leading medical diagnostics business based in Nigeria, through their joint venture, […]
Posted inSpeed Round
Ibnsina Pharma prices IPO at EGP 5.80 per share, says institutional offering is more than 17x oversubscribed
IPO WATCH- Ibnsina Pharma prices IPO at EGP 5.80 per share, says institutional offering is more than 17x oversubscribed: Ibnsina Pharma announced this morning that it has concluded the book-building process and pricing of its institutional offering of c. 229 mn shares as part of its IPO on the Egyptian Exchange. The company priced at […]
Posted inSpeed Round
Pharos running two IPOs in 1Q2018 worth a combined EGP 2 bn
IPO WATCH- Our friends at Pharos Holdings will be quarterbacking two IPOs in 1Q2018 worth EGP 1 bn a piece, said Sherif Abel Aal, who heads investment banking at the firm. Abdel Aal tells Al Borsa that one of the unnamed companies will be a financial services firm, hinting at the possibility that it was […]
Posted inSpeed Round
EGX will allow margin trading on ETFs in February 2018
REGULATION WATCH- The EGX will allow margin trading on ETFs in February 2018, said EGX head Mohamed Farid on Monday, according to Ahram Gate. The move would be part of a string of new products and instruments the bourse is planning on launching soon, including derivatives and short-selling. We noted last month that the EGX […]
Posted inSpeed Round
Customs Act to be completed in three months
LEGISLATION WATCH- It would appear that the new Customs Act has not died on the vine, as the Finance Ministry plans to complete a draft bill in three months’ time, Finance Minister Amr El Garhy said, Ahram Gate reports. The act, which will impose “strict punishments” on customs evaders while reducing clearance times and fees […]
Posted inSpeed Round
TE denies it offered to acquire MENA cable from OTMT
M&A WATCH- TE denies it offered to acquire MENA cable from OTMT: Telecom Egypt has denied submitting an offer to acquire MENA Submarine Cable Systems (MENA) from Orascom Telecom Media and Technology (OTMT) in a bourse filing on Monday (pdf). We had noted reports from Al Borsa yesterday citing government sources saying that OTMT’s December […]