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A random thought before we get underway this morning: It is an honor to write each and every one of you. Thank you all for reading. On to the news: Foreign policy and international headlines dominated the conversation on Egypt yesterday and look set to do the same today. First up, President Abdel Fattah El […]
Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Lobby group to meet with House amid fantasy of lower gas prices: A delegation from the Union of Egyptian Investors Association (UEIA) will meet with the House of Representatives’ Industry Committee on Tuesday to discuss rising natural gas bills they claim some factories can’t cope with. The House had hinted recently it might be considering […]
Posted inON THE HORIZON
On the horizon
Our friends at AmCham will be holding a conference on the role of the private sector in achieving development goals on 4 December. Attending the event will be Investment and International Cooperation Minister Sahar Nasr and Planning Minister Hala Saeed, who will be joined by the UN Deputy Secretary General Amina Mohammed. An Egyptian-Turkish economic […]
Posted inEnterprise+: Last Night’s Talk Shows
Foreign affairs-laden night on the airwaves
As with the local press, the conversation on the airwaves was dominated by regional issues and foreign affairs, particularly Saudi Arabia and Lebanon. Ittihadiya Spokesperson Bassam Rady made the rounds on some of the talk shows to say that it has not yet been confirmed whether Saad Al Hariri will be in Cairo this week […]
Posted inSpeed Round
VAT applies to leases for retail outlets, education and health centers
VAT applies to leases for retail outlets, education and health centers: The Finance Ministry imposed yesterday the value-added tax (VAT) on leases of retail space from malls, hotels, resorts, sporting clubs, and factories, as well as spaces leased out for use as educational or health centers, Al Mal reports. The controversial move, which had gained […]
Posted inSpeed Round
Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound
Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound : The Peugeot-Citroen arm of Groupe PSA has reportedly decided not to renew its distribution agreement with Cairo For Development and Cars Manufacturing (CDCM), its licensed distributor of Peugeot vehicles in Egypt for the last 41 […]
Posted inSpeed Round
ADM abandons NCMP bid
M&A WATCH- Archer Daniels Midland (ADM) will give up its bid for the National Company for Maize Products (NCMP) now that the deadline for it to submit a counter offer has expired, Salah Tawfik, CEO of ADM’s Egypt subsidiary Medsofts, tells Al Mal. The Financial Regulatory Authority (FRA) had rejected at least two bids from […]
Posted inSpeed Round
RenCap bullish on Egypt, calls it a “very interesting market”
Renaissance Capital has a pipeline of investment banking transactions in Cairo, Ksenia Galouchko writes for Bloomberg. “A lot of the global investment banks are de-risking their portfolios, they’re scaling back in Africa and none of them are entering Egypt … Egypt is a very interesting market for us,” RenCap’s global head of investment banking James […]
Posted inSpeed Round
El Sewedy Electric in talks to build six wind-powered electrical stations
El Sewedy Electric in talks to build six wind power stations: El Sewedy Electric is in talks with French utility company EDF to co-establish a service center for electrical power stations, CEO Ahmed El Sewedy tells Al Mal. The company is also in talks with Egypt’s Electricity Ministry to acquire land on a right-to-use-basis for […]