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The IMF and World Bank fall meetings will kick off on 9-10 October in Washington, DC. A large delegation of Egyptian government officials and senior members of the private sector are set to attend. The World Cup qualifiers are back on Sunday, when Egypt hosts Congo Brazzaville. And it looks we’ll be needing some prayers, […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Palestinian reconciliation agreement reigns supreme on last night’s talk shows
The Egypt-brokered Palestinian reconciliation was front and center on the airwaves last night, with TV’s power couple, Lamees Al Hadidi and Amr Adib, both broadcasting live from Ramallah. Palestinian Authority President Mahmoud Abbas sat down for an interview with Lamees, telling the Hona Al Asema host that while both sides are keen on reconciliation, it […]
Posted inSpeed Round
House of Representatives begins its third session
The House of Representatives officially began its third session yesterday, with Prime Minister Sherif Ismail giving a speech to MPs outlining his government’s legislative for this session. Ismail had said earlier that he would present briefs for 20 proposed pieces of legislation. Among those he highlighted in his remarks to the House: The Universal Healthcare […]
Posted inSpeed Round
House confirms Omran’s appointment as EFSA chairman
House confirms Omran’s appointment as EFSA chairman: One of the House of Representatives’ first agenda items yesterday was confirming the appointment of former EGX chief Mohamed Omran as the new chairman of the Egyptian Financial Supervisory Authority, reports Al Mal. Omran was made interim head in August.
Posted inSpeed Round
Egypt is considering only hiring European banks for upcoming eurobond issuance
Egypt is considering hiring only European banks for its upcoming eurobond issuance, sources tell Reuters on Monday. If true, there will be a change up in the lineup of bookrunners who worked on the January and May USD 7 bn eurobond issuances — BNP Paribas, Citigroup, JP Morgan and Natixis. The Ismail cabinet had approved […]
Posted inSpeed Round
Egypt projecting revenues from ‘sin’ tax to increase EGP 7 bn this fiscal year
Egypt is projecting that revenues from the ‘sin’ tax on tobacco will increase EGP 7 bn in FY2017-18 to EGP 54.5 bn, according to the Finance Ministry's budget explainer (pdf). This increase revenue comes on the back of raising the value-added tax rate to 14% and an increase in the number of smokers, a ministry […]
Posted inSpeed Round
GE Healthcare to become anchor limited partner in Rx Healthcare Fund
INVESTMENT WATCH - GE Healthcare is set to become an anchor limited partner of EFG Hermes’ Africa-focused healthcare private equity fund Rx Healthcare. Rx, led by former Health Minister Hatem El Gabaly, is a private equity fund currently under establishment and managed by a newly set up fund manager. “GE Healthcare’s added value to Rx […]
Posted inSpeed Round
Egypt denies buying arms from North Korea
Egypt denies buying arms from North Korea: Egypt’s Foreign Ministry issued a statement yesterday denying claims made in a Washington Post report that a shipment of North Korean arms seized in Egyptian waters last year was bound for the country. The statement claims that the results of the UN Security Council’s investigation into the incident […]
Posted inSpeed Round
Monarch Airlines goes into administration, CEO blames terror attacks in Egypt
Monarch Airlines has gone bust, and it’s CEO is blaming Egypt (in part): The UK-based airline ceased trading and its 300,000 future bookings for flights and holidays have been cancelled, the UK’s Civil Aviation Authority said, according to BBC. Monarch, which reported a loss of GBP 291 mn last year, was the UK's fifth biggest […]
Posted inSpeed Round
Some international headlines worth noting on an otherwise quiet news morning in Egypt: