Author Archives: enterpriseam admin

M&A WATCH- Arqaam Capital is acting the sellside advisor for two of the “major shareholders” of instant coffee maker Misr Cafe, sources told Al Mal. The two shareholders are looking to exit their 75% stake of the company and include the founder as well as an Egyptian shareholder. The company, which was established in 1984, […]

M&A WATCH- HyperOne is not up for sale, founder and Chairman Mohamed El Hawary tells Al Borsa. The executive vehemently denied news reported earlier this week that the retailer had received two separate bids to acquire a controlling stake from a foreign investor entering the country for the first time, as well as the Egyptian […]

Requirement that pricing be printed on packaging could be unconstitutional: Article seven of the proposed Consumer Protection Act may be unconstitutional, House Economics Committee member Amr El Gohary tells Al Mal. The article — which stipulates that manufacturers and service providers clearly print or otherwise make clear the prices of their goods and services, and […]

CIB feted at dinner with investors, corporates and journos in London: On Monday evening, Egypt’s ambassador to the UK, Nasser Kamel, held a dinner at his London residence in honour of CIB and the bank's contributions to business and the nation’s economy. Among those in attendance were senior executives from multinationals (including Vodafone, KPMG, and […]

France gives assurances it is selling us “high quality” wheat: France’s ambassador to Cairo Stéphane Romatet assured Supply Minister Ali El Moselhy that France is keen to keep participating in Egypt’s wheat tenders and continue providing “high quality” wheat, El Moselhy said on Wednesday. The statements followed a sit-down with the ambassador and representatives of […]

Is Russia backing companies in RIZ to the tune of USD 9 bn? In another sign that we are nearing a contract on the Russian Industrial Zone (RIZ), Moscow will apparently be providing USD 9 bn in funding to companies looking to set up shop at the RIZ, officials at the Russia Africa Business Forum […]

The Ismail Cabinet approved yesterday amendments to the traffic law that would set new rules for licensing and hikes fines for traffic infractions, according to a statement. The amendments introduce a new system would grant license holders a certain number of points that authorities then deduct from for each traffic violation committed. A license would […]

Qatar’s Emir Tamim Al Thani said he’s ready to open talks to end the diplomatic crisis with the Arab quartet boycotting the country, the AP reports. He urged neighboring states to end the four-month blockade. “We are all brothers and we have suffered losses due to this crisis,” he said — advice Qatar would have […]

Saudi Arabia still plans to go through with both the international and domesticofferings of shares in Aramco in 2018, Saudi Oil Minister Khalid Al Falih said on Tuesday, according to Bloomberg. His statements follow heightened speculation that the Kingdom was considering delaying its IPO and was even entertaining a possible direct sale of 5% of […]

Iran will continue to honor the terms of its nuclear agreement with Europe and the US so long as they do the same, Supreme Leader Ayatollah Ali Khamenei said yesterday, Bloomberg reports. However, Iran will “tear it to pieces” if the countries on the other side of the deal back away from it now, Khamenei […]