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In other energy news, the Egyptian Refining Company (ERC) is expected to begin operations in September 2018, said Ahmed Heikal, chairman of Qalaa Holdings, which has led the development of the megaproject and which holds a 19% stake in the facility. The USD 3.7 bn plant in Mastorod, which hopes to save the government some […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Sawiris makes public plea for a banking license
Sawiris: Please, sir. May I have a bank? Naguib Sawiris has again made it clear that he would really like to open a bank if the authorities would only allow it. “If the Governor of the Central Bank of Egypt gives me a license for a bank, I’ll open it tomorrow,” he reportedly said at […]
Posted inSpeed Round
GTH appoints Pharos to evaluate Veon MTO
M&A WATCH- Global Telecom Holding (GTH) has appointed Pharos Holding as an independent financial advisor to evaluate the mandatory tender offer presented by Veon Holdings to acquire the company. Veon, which already owns 57.7% of GTH, submitted an offer to acquire GTH shares at EGP 7.90 per share last week.
Posted inSpeed Round
Trading on Dice shares to begin on Tuesday
IPO WATCH- Trading on Dice Sport and Casual Wear shares will begin on Tuesday 14 November, with the opening price per share set at EGP 22.60, Al Borsa reports. Dice had announced last week that its domestic offering was 5.96x oversubscribed, while its institutional offering was 3.1x oversubscribed. Separately, Qalaa Holdings announced on Thursday it […]
Posted inSpeed Round
EGX completes technical tests of short-selling platform
The EGX has completed technical tests of a platform which would allow short-selling on the bourse, EGX Chairman Mohamed Farid said, according to Al Masry Al Youm. The move is part of several new financial tools and instruments the exchange plans to launch in the near future. Farid also briefly spoke of plans to introduce […]
Posted inSpeed Round
Draft of Universal Healthcare Act leaks in the press
State-owned Al Ahram published what it says is the current draft of the Universal Healthcare Act on Saturday. From what we can see, the act retains much of the key features first announced by the health and finance ministries back in March, including the formation of three regulators: the Social Health Insurance Authority will be […]
Posted inSpeed Round
UK flight ban to Sharm could be blamed on Brexit -The Independent
Brexit is responsible for the continuing flight ban from the UK to Sharm El Sheikh, Gerald Lawless, chairman of the World Travel and Tourism Council, told a conference in London, Simon Calder writes for The Independent. Lawless says former Prime Minister David Cameron was “about to end the ban — but his resignation after the […]
Posted inSpeed Round
El Sisi opposed to war with Iran, Hezbollah
“I am against war,” President Abdel Fattah El Sisi says after speculation that the Gulf region could be on the cusp of an armed confrontation with Iran and its Lebanese proxy Hezbollah, Ahmed Feteha writes for Bloomberg, reiterating remarks we carried on Thursday. “Our point of view when it comes to new troubles with either […]
Posted inUncategorized
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Posted inImage of the Day
Play about Egyptian band opens on Broadway
A play about an Egyptian band visiting Israel officially opened on Broadway on Thursday, Peter Marks writes for the Washington Post. ‘The Band’s Visit’ gets a glowing review from the Post and gives a different perspective on Arab-Israeli dynamics. The story is about a band from Alexandria ending up in the wrong Israeli town on […]