Author Archives: enterpriseam admin

M&A WATCH- Online grocery delivery specialist Knock Mart has presented an offer to acquire the Dina Farms supermarket chain from Qalaa Holdings’ Arabian Company for Services and Trade, Al Mal reports. Knock Mart is being advised by Haykala Investment Managers and Matouk Bassiouny is legal counsel. Knock Mart has plans to expand to have 100 […]

Egyptian-Saudi Business Council pledges to help raise Saudi investments in Egypt to USD 51 bn: Investment Minister Sahar Nasr has reportedly gotten the Egyptian-Saudi Business Council to push for raising Saudi investments in Egypt to USD 51 bn, according to a ministry statement on Thursday. Nasr apparently lobbied for the investments to be geared towards […]

Keep an eye on SME exposure: A number of small factories have shut down recently because of their inability to secure funding in the current interest rate environment, according to a report by Al Mal. Small producers also cite weaker demand and a slowdown in business activity following the flotation as problems they face. A […]

MOVES- President Abdel Fattah El Sisi appointed Gen. Mohamed Farid as new chief of staff of the Armed Forces yesterday, replacing Gen. Mahmoud Hegazy, who was made the president’s adviser on strategic planning and crisis management. The Interior Ministry also announced a shakeup in its ranks yesterday, replacing “the head of national security, a handful of generals, […]

Trump administration places temporary restrictions on refugee cases from 11 MEA countries, including Egypt: US President Donald Trump decided on Friday to place additional restrictions on refugee admissions to the country, temporarily delaying the processing of refugee cases from 11 countries, including Egypt, Iraq, Iran, Libya, Sudan, Syria, Yemen, and North Korea. “US officials said […]

IPO WATCH- Saudi Arabia plans to float shares in its USD 500 bn sci-fi robot-infested city Neom, Crown Prince Mohammed bin Salman (MbS) said over the weekend, according to Reuters. “Without a doubt, at the end of the day Neom will be floated in the markets. The first zone floated in the public markets. It’s […]

Other international news worth noting in brief this morning include: The US economy grew at 3% in 3Q17, outstripping projections of 2.5%, CNBC reports. Demand for the iPhone X has outstripped supply, with Apple calling pre-orders “off the charts.” A federal grand jury in the United States approved the first charges in the into alleged […]

CORRECTION- In Thursday’s issue we mistakenly said that the recently-passed Universal Healthcare plan is expected to cover all of Egypt in 2022. The scheme will actually cover all governorates by 2032. The entry has been corrected on our website.