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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Dabaa nuke plant contracts to be ready in one week, signed within two months: The Council of State (Maglis Al Dawla) will finalize its review of the four contracts for the USD 30 bn Dabaa nuclear power plant this week, an unnamed government official tells Al Borsa. The source says the date of the signing […]
Posted inON THE HORIZON
On the horizon
The Planning Ministry will finalize the Unified Planning Act within 10 days, after which it will be up for debate within Cabinet, Al Mal quotes Minister Hala El Said as saying yesterday. The act will regulate the planning of national projects, among other things. Also coming before Cabinet soon: Amendments to the law on conserving […]
Posted inEnterprise+: Last Night’s Talk Shows
Privatizing the railways, Moody’s sticking to its flawed ratings, and the automotive directive
It was an interesting night on the airwaves as the talking heads delved into a number of key issues, including privatizing the railways, Moody’s sticking to its guns on Egypt’s rating, and the automotive directive. Privatization of the rail network in all but name: Transport Minister Hisham Arafat had a chat with Hona Al Asema’s […]
Posted inSpeed Round
US to reconsider resuming aid to Egypt
The US government is willing to “consider” unfreezing aid to Egypt that had put on hold last month, President Donald Trump told the press on Wednesday, according to Reuters. The US had decided last month to cut or withhold some USD 290 mn in civilian and military aid to Egypt for “failure to make progress […]
Posted inSpeed Round
El Sisi’s interview with Hannity
President El Sisi sat down with a one-on-one interview with Fox News’ Sean Hannity last week. Hannity seemed neither interested nor capable of discussing meaningful policy issues with the president and, instead, focused on trying to say “radical Islamic extremists” as many times as possible. “You took one of the most courageous stances” in the […]
Posted inSpeed Round
US companies, institutions pledge new investments in New York
INVESTMENT WATCH- In New York, US companies and institutions pledge new investment: The International Finance Corporation's (IFC) executive board agreed to allocate USD 150 mn to investments in agricultural projects in Egypt, Investment Minister Sahar Nasr announced on Wednesday. The funding is earmarked for public-private partnership projects that look to develop the food manufacturing industry […]
Posted inSpeed Round
BlackRock interested in Egyptian debt
BlackRock’s head of emerging stocks sees value in Egypt and is keen on international and local currency bonds there. BlackRock MD Amer Bisat tells Bloomberg that “Egypt is a place that has gone through a wrenching adjustment as part of an IMF program and offers good fundamental value for the yields that you’re getting … […]
Posted inSpeed Round
IKEA plans new investments to expand operations in Cairo and Alexandria
INVESTMENT WATCH- IKEA plans new investments to expand operations in Cairo and Alexandria: IKEA is looking to make new investments in Egypt to expand its operations in Cairo and Alexandria, Trade and Industry Minister Tarek Kabil said on Thursday, Al Borsa reports. The exact nature of the expansion was not disclosed, but the news came […]
Posted inSpeed Round
Algebra Ventures investing USD 9 mn in tech start ups
Venture capital fund Algebra Ventures is putting USD 9 mn into technology startups, according to AMAY. Executive Director Ziad Mokhtar said USD 3 mn is earmarked for software and software development, while USD 1.5 mn has been committed to our friends at online ordering service El Menus and a stake in a home maintenance business. […]