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LEGISLATION WATCH- The Universal Healthcare Act will impose a tithe on basic commodities and materials — and business is furious: It would appear that the healthcare sector is not the only industry that will paying a fee to help fund the state’s proposed EGP 600 bn health coverage plan. The law is also expected to […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EGX rises 0.8% on Sunday, despite Friday’s deadly attack on North Sinai
“Holders of Egyptian stocks seem to have developed thick skin,” Ahmed Feteha and Andrew Blackman write for Bloomberg. The EGX 30 rose 0.8% yesterday, despite Friday’s deadly terror attack on a mosque in North Sinai, which claimed more than 300 lives and is considered the most brutal attack on Egypt in its modern-day history. Previous […]
Posted inSpeed Round
Egypt is open to buying natural gas from Israel -sources
Egypt is reportedly still open to buying natural gas from Israel, sources close to the matter tell Bloomberg. Israeli Energy Minister Yuval Steinitz spoke to Oil Minister Tarek El Molla last week, after the latter’s interview with Bloomberg about Egypt reaching self-sufficiency and cutting state LNG imports by 2018 “sent shares of Israeli gas companies […]
Posted inSpeed Round
Aramco likely to begin refining fuel in Egypt in 1Q2018 - officials
Aramco likely to begin refining fuel in Egypt in 1Q2018 -officials: Saudi Aramco is likely to begin refining crude oil in Egyptian refineries in 1Q2018, an official from the Oil Ministry tells Al Shorouk, initially at the Middle East Oil Refinery (MIDOR). Talks are still ongoing with Saudi’s largest oil producer, the official stated. Oil […]
Posted inSpeed Round
Shuaa Capital launches brokerage operations in Egypt
Shuaa Capital launches brokerage operations in Egypt: Shuaa Capital’s securities brokerage arm commenced operationsin Egypt official yesterday, following green light from the Financial Regulatory Authority. “Due to the country’s strong economic fundamentals and depth of available opportunities, we have received strong interest in the Egyptian market from clients in 2017. SHUAA Securities Egypt will enable […]
Posted inSpeed Round
OLX appoints Gobran as GM of OLX Egypt
MOVES- Classifieds ads platform OLX appointed Dina Gobran as the new General Manager for OLX Egypt. Gobran was previously OLX’s Head of Strategy.
Posted inSpeed Round
IPO of Alhokair’s malls unit said to be on hold, Iraq plans USD 2 bn eurobond
Also making news in the international business press this morning: Alhokair Malls IPO on hold? “Plans to revive the public share sale of Fawaz Alhokair Group’s mall unit are on hold after the accounts of its billionaire co-founder were frozen in Saudi Arabia’s corruption crackdown, according to people with knowledge of the matter,” Bloomberg reports.The […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
International press occupied with magnitude of Al Rawda mosque attack
Friday’s attack on Al Rawda mosque in North Sinai was the entire conversation on Egypt in the foreign press overnight, with most pieces pointing to the significance of the attack. The Financial Times’ Heba Saleh writes that the attack puts more pressure on President Abdel Fattah El Sisi “as his government seeks to attract investors […]
Posted inOn Deadline
What happened to the Supreme Anti-Terrorism Council?
What happened to the Supreme Anti-Terrorism Council? The council currently stands as an example of the reactionary measures Egypt takes following terror attacks that seem like a good idea at first, but suffer from a lack of follow-up, Alaa El Ghatrifi writes for Al Masry Al Youm. Although the council was meant to meet twice […]