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Also from the land of education, some very nice news this morning: Egypt’s entry to the Injaz regional student entrepreneurship contest took home two trophies from the three-day regional finals held in Cairo. The Cairo American College ‘Zip & Flip’ team, representing Egypt in an 11-country competition, won nods for “overall best product of the […]
Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The French Institute in Cairo is hosting its first week-long Sustainable Cities forum in Cairo from 22-28 November, Ahram Online reports. Sessions will focus on issues pertaining to urban planning and development, such as transportation and environmental concerns. French company executives are also expected to sit down with the Transport Ministry during the forum to […]
Posted inON THE HORIZON
On the horizon
We might be looking at a short week next week. Prime Minister Sherif Ismail declared Thursday, 30 November a holiday for the public sector to mark the occasion of Prophet Muhammad’s birthday, which actually falls on Friday 1 December. There’s been no word on whether the central bank is taking the day off, but us […]
Posted inEnterprise+: Last Night’s Talk Shows
Tobacco was the case in the airwaves
As expected, the talking heads were almost universally preoccupied with the surprise increase in the value-added tax on cigarettes, which is by a wide margin the lead story in the domestic press this morning. Finance Minister Amr El Garhy made the rounds to calm a nation distraught over the prospect of downgrading to Cleopatras. The […]
Posted inSpeed Round
Aton becomes the second miner since Centamin to declare a commercial discovery
Aton Resources has officially notified the Egyptian Mineral Resources Authority (EMRA) of its intention to make a declaration of commerciality at its Hamama Project. Aton intends to have a producing mine there constructed by the end of 2019. “This is a historic day for Egypt and Aton, as we are only the second company, after […]
Posted inSpeed Round
EgyptAir will make a profit this year, chairman says
EgyptAir will swing to a profit this year, buoyed by an increase in passengers and cost cutting, Chairman Safwat Musallam said, according to Reuters. “This year the company will transfer from a loss,” Musallam told the newswire, but declined to say how much EgyptAir is projected to make or to mention the loss recorded last […]
Posted inSpeed Round
CI Capital to IPO in 2H2018
IPO WATCH- CI Capital to IPO in 2H2018: Investment bank CI Capital is expected to list on the EGX in the second half of 2018, CEO Mahmoud Attallah tells Al Borsa. Last we heard, CI Capital’s initial public offering was pushed to 1Q2018 from its slated date in 2017. In the meantime, the investment bank […]
Posted inSpeed Round
OC reports 3Q2017 results
EARNINGS WATCH- Our friends at Orascom Construction Limited (OC) reported net income attributable to shareholders in 3Q2017 of USD 22.4 mn, down from USD 26.0 mn in the comparable period last year. Revenues came in 16.3% lower y-o-y at USD 805.4 mn compared to USD 962.1 mn in 3Q2016. The company’s consolidated backlog as of […]
Posted inSpeed Round
Are wheat inspection bureaucrats getting the slap on the wrist they sorely need?
Are wheat inspection bureaucrats getting the slap on the wrist they sorely need? Agriculture Minister Abdel Moneim El Banna approved yesterday a major shakeup in the ministry's Agriculture Quarantine Authority, Al Masry Al Youm reports. While the shuffle was ostensibly done to improve quality control standards, it comes against a backdrop of a showdown between […]