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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Tomorrow is PMI day: The Emirates NBD / Markit purchasing managers’ index for Egypt, the UAE and Saudi Arabia will be out on Tuesday morning at about 6:15am. Look for it here when it’s released.
Posted inWhat We’re Tracking This Week
Cairo Art Fair kicks off on Friday
The third edition of the Cairo Art Fair kicks off on Friday, 8 December at the Arts-Mart Gallery, where over 1,000 artworks from more than 100 well-established and up-and-coming Egyptian artists will be on display. The fair’s third installation will showcase a “pivotal new body of work by some of Egypt’s most popular artists,” including […]
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: In annual terms, core inflation fell to 30.53% in October from 33.26% in September, but that wasn’t enough for […]
Posted inEnterprise+: Last Night’s Talk Shows
Ahmed Shafik’s “kidnapping” drama in the limelight
The latest chapter in the drama that is former prime minister Ahmed Shafik’s rocky return to Egyptian politics again dominated the airwaves last night. The unveiling of the first Egyptian smart phone and a potential hike in the cost of medicine came in close seconds. Shafik appeared on Dream TV’s Al Ashera Masa’an to dispel […]
Posted inSpeed Round
NI Capital expects government will IPO 30 state-owned companies in two years
IPO WATCH- NI Capital expects the government to potentially list around 30 state-owned companies on the stock exchange as part of the state IPO program in the coming two years, NI Capital CEO Ashraf El Ghazaly said on Sunday. While the final number of listings is not set yet, El Ghazaly says some 10-12 companies […]
Posted inSpeed Round
Misr Italia planning to IPO in 3Q2018
IPO WATCH- Real estate developer Misr Italia Properties is planning to offer 20-30% of its shares on the EGX in 3Q2018, CEO Mohamed El Assal said again yesterday, Al Mal reports. El Assal did not disclose the size of the transaction or his intended use of proceeds. Misr Italia had announced back in April that […]
Posted inSpeed Round
Algebra Ventures to raise investments in Egyptian companies to USD 15 mn in 2018
INVESTMENT WATCH- Algebra Ventures will continue to invest in Egyptian startups in the new year with a target of having deployed a total of USD 15 mn between inception and the end of 2018, founding partner Ziad Mokhtar tells Al Mal. Mokhtar adds that the company will continue to invest through 2020, after which its […]
Posted inSpeed Round
Egypt will begin exporting excess electricity to regional countries in 2018
Egypt will begin exporting excess electricity to regional countries in 2018, said Electricity Minister Mohamed Shaker. The move would be part of a wider strategy to turn Egypt into a regional energy hub for electricity and natural gas. Surplus electricity from Egypt’s power plants, especially once the three Siemens combined cycle plants become fully operational, […]
Posted inSpeed Round
TE submits offer to acquire MENA from OTMT?
M&A WATCH- TE submits offer to acquire MENA cable from OTMT? Telecom Egypt has reportedly submitted an offer to acquire MENA Submarine Cable Systems (MENA) from Orascom Telecom Media and Technology (OTMT), unnamed government officials tell Al Borsa. TE is looking to link MENA’s cables with its own TE North cable, which connects Egypt to […]