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The central bank’s Monetary Policy Committee convenes today to review key interest rates. Nine out of ten economists polled by Reuters are expecting the MPC to leave rates on hold at 18.75% for deposits and 19.75% for lending until December at least, explaining that while inflation has cooled, it is not yet at a level […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Bringing visual and performing arts together in Cairo: Arts-Mart Gallery is holding its first “Orchestra in Art” event, A Night of Musicals, on 24 November. A Night of Musicals is being held under the patronage of our friends at SODIC Art and promises to be a captivating artistic and cultural experience, featuring a full orchestra […]
Posted inEnterprise+: Last Night’s Talk Shows
GERD negotiations continue to top discussions on the airwaves
On another night packed only with miscellany, we were happy to see the Grand Ethiopian Renaissance Dam (GERD) talks given some airtime. Yahduth fi Masr’s Sherif Amer zeroed in on amendments to the Unified Building Codes, which Cabinet signed off on yesterday. Senior housing ministry official Nefisa Hashem told Amer that the amendments require building […]
Posted inSpeed Round
EFG Hermes to manage Unionaire, Carbon Holdings IPOs in 2018
IPO WATCH- EFG Hermes to take Unionaire, Carbon Holdings public in 2018: EFG Hermes will reportedly manage the initial public offerings for Unionaire Group in 1H2018 and Basil El Baz’s Carbon Holding in 2H018, sources close to the matter tell Al Mal. The firm is also quarterbacking the IPO of the state-owned Banque du Caire […]
Posted inSpeed Round
Cairo Three A submits higher offer for NMPC, ADM to petition FRA
M&A WATCH- Cairo Three A submits higher offer for NCMP, ADM to petition FRA: Cairo Three A submitted yesterday a higher offer of EGP 51 per share for the acquisition of 100% of the National Company for Maize Products (NCMP), the Financial Regulatory Authority (FRA) announced yesterday (pdf). This comes one day after the FRA […]
Posted inSpeed Round
Agriculture Ministry awaits instruction on what to do after ergot court decision
The Agriculture Ministry is awaiting instructions from cabinet after a court ruling reinstating the zero-tolerance policy for ergot in wheat, Reuters reports. “The ruling was against a decision that was issued by the cabinet so we have to await directions from there to know whether it will affect our process … Until then it is […]
Posted inSpeed Round
Natural gas market to be fully deregulated by 2022
Natural gas market to be fully deregulated by 2022: The Oil Ministry is reportedly planning to fully implement the Natural Gas Act, which deregulated the market, by 2022, ministry sources tell Al Shorouk. The state will complete its transition to a regulator in five years, leaving the sector wide open for private operators to import […]
Posted inSpeed Round
House signs off on Dabaa contracts, moves them along to El Sisi to set a signing date
House signs off on Dabaa contracts, moves them along to El Sisi to set a signing date: The House of Representatives’ general assembly signed off on the contracts for the USD 30 bn Dabaa nuclear power plant yesterday, Al Borsa reports. The four contracts with Russia’s Rosatom have been sent to President Abdel Fattah El […]
Posted inSpeed Round
House will not endorse GERD until Egypt’s share of Nile water is secure
House will not endorse GERD until Egypt’s share of Nile water is secure: Leading MPs said yesterday they would refrain from voting on the 2015 agreement on the Grand Ethiopian Renaissance Dam (GERD) until Egypt’s share of the Nile water is secured in writing, African Affairs Committee deputy Maged Abo El Kheir tells Al Mal. […]