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. The event will have […]
Author Archives: enterpriseam admin
Egypt’s water resources and consumption reign supreme on the airwaves
Talks on water security with Ethiopia and Sudan are on the brink of failure, and after writing tens of thousands of words on the subject in the past three years, we now feel we may (for this morning, at least) not be the only people in Egypt who give a rat’s [redacted] about our nation’s […]
Gov’t will only approve gas imports from Israel after disputes are resolved -El Molla
The government will not issue permits to companies to import natural gas from Israel until the arbitration cases between Egypt and Israel are resolved, Oil Minister Tarek El Molla said, according to Reuters. The government will sign off on agreements to import from our eastern neighbor only once the disputes are resolved and under the […]
Egypt signs USD 3.2 bn expansion of last year’s repo transaction with global banks
Egypt signs USD 3.2 bn expansion of financing agreement with global banks: Egypt has signed an expanded financing agreement with global banks, secured as part of a repurchase (repo) transaction in 2016, CBE Governor Tarek Amer said on Monday, according to Bloomberg. The agreement expands the one-year repo to USD 3.2 bn from USD 2 […]
Signals that foreign appetite for EGP T-bill might have peaked?
Foreign holdings of Egyptian T-bills fell for the first time since the EGP was floated in November 2016 as maturing notes exceeded new purchases, Ahmed Feteha writes for Bloomberg. He says the drop in holding could suggest that demand for Egyptian debt is peaking. “The flow of new money and the appetite to renew maturing […]
EgyptAir expected to announce today a USD 1.1 bn order for Bombardier C-Series planes
EgyptAir is expected to announce today a USD 1.1 bn order for Bombardier C-Seriesjets, Boeing 787s: EgyptAir has reportedly been in advanced talks with Bombardier to buy 12 CS300 jets in a transaction worth c. USD 1.1 bn, people familiar with the matter tell Bloomberg. The order is expected to be announced today at the […]
German tourists’ bookings in Hurghada, Marsa Alam surge again in October
And speaking of the tourism upswing, German tourists continued to book more holidays in Hurghada and Marsa Alam in October, German tourism portal FVW says, citing figures from reservations provider Traveltainment. Bookings to Hurghada rose 83% y-o-y, while Marsa Alam bookings surged 90% y-o-y during October. This is the third consecutive month to see a […]
Cook’s shareholder appoint Arqaam to advise on sale
M&A WATCH- The main shareholders in food products producer Cook's Industries have appointed Arqaam Capital to advise on the sale of their stake in the company, sources told Al Mal. Cook’s, founded in Cairo in 1954, is owned by the heirs of founder Agamemnon Paraskevas. Al Mal says Arqaam is shopping Cook’s to GCC investors, […]
Domty denies entering into a partnership to produce and package olive oil
INVESTMENT WATCH- Domty denied that it is planning to invest USD 25-30 mn in an olive packaging and processing operation with a company owned by Abdel Salam Alwadi, chairman of the Tunisian Olive Oil Association. Domty made the announcement in a regulatory filing on Monday (pdf) after a report in Al Mal surfaced yesterday quoting […]
Aly appointed Chairman and MD of ADIB-Egypt
MOVES- Elsayed Mohamed Aly has been appointed chairman and managing director of Abu Dhabi Islamic Bank (ADIB)-Egypt. Aly was formerly the chairman and managing director of Mashreq Bank-Egypt.