Author Archives: enterpriseam admin

This “Fragile Five” stuff is rooted in our debt profile, leading us to note that Egypt’s foreign debt eased fractionally to USD 80 bn in September, down from USD 81 bn in August, but up from July’s USD 79 bn, central bank sources tell Al Borsa. Egypt recently paid off the final USD 200 mn […]

IPO WATCH- El Farasha for Printing says its plans to list 35% of its shares on the Egyptian Exchange are back on the table, Al Mal reports. The company is mulling a listing on the EGX in 1Q2018, after having first said it was considering the listing by 2016’s end. The company’s head of IR […]

M&A WATCH- We now have a price tag on the EAEF’s acquisition of Orchidia: The Egyptian American Enterprise Fund (EAEF) acquired 46.5% sake in Orchidia Pharma Industries for around EGP 700 mn, Orchidia’s founder and chairman Ossama Abbass tells Al Borsa. EAEF purchased 38% of the company from SPE Capital (formerly Swicorp Private Equity), and […]

MOVES- An Egyptian national now runs the internet. Kinda. Cherine Chalaby was appointed as the new board chairof the Internet Corporation for Assigned Names and Numbers (ICANN). Chalaby was first nominated to the board in 2010. Manal Ismail, also an Egyptian national, was appointed as a member of the Governmental Advisory Committee Liaison to the […]

EARNINGS WATCH- ‘This the season, folks. Among those reporting results yesterday: GB Auto announced a consolidated net loss of EGP 138.9 mn in 3Q2017, down from a net profit of EGP 39.4 mn a year earlier. Sales revenues rose 16.4% y-o-y to EGP 5.03 bn during the period. “Overall, the third quarter of 2017 showed […]

President El Sisi declares that there will be no third terms for presidents: President Abdel Fattah El Sisi rejected suggestions that term limits should be eased by amending the constitution to allow presidents to serve a third term in office. “We will not interfere with (the constitution). I am with preserving two four-year terms,” El […]

The World Youth Forum began its first sessions yesterday, during which President Abdel Fattah El Sisi discussed his government’s effort to support the country’s youth, Ittihadiya said in a statement. Speaking at a session on differences in culture and civilizations, El Sisi said that there is “political will to connect with and listen to the […]

How is this good for business? As the Saudi Arabian media celebrated Saudi Crown Prince Mohammed Bin Salman’s crackdown on corruption, which has seen the arrest of a large number of royal family members, so far without charge. Saudi Arabia scholar James M. Dorsey asks “some of these are businessmen with international status, and if […]

After the Panama Leaks, we now have the “Paradise Papers”: A new series of leaks focusing on alleged tax dodging by leading politicians, business figures and corporations were revealed in what is being dubbed as the “Paradise Papers.” The focus of the leak is Appleby, a law firm that provides offshore services in the tax […]