Author Archives: enterpriseam admin

International bank consortium to extend tenor, increase value of repo: A consortium of international banks have offered to extend a USD 2 bn repurchase agreement (repo) with a maturity of one year, rolling it over into a USD 5 bn repo with a five-year maturity, Central Bank Governor Tarek Amer said yesterday on the sidelines […]

The CBE is considering requiring banks to report the breakdown of their loan and deposit figures according to the gender of their clients, Deputy CBE Governor Lobna Helal says, according to Al Mal. The extra classification would improve the data and support the financial inclusion of females. Other key indicators and policies noted by Helal […]

Orascom JV with FCC Aqualia wins contract to build USD 320 mn wastewater treatment plant in Abu Rawash: Orascom Construction Limited announced yesterday (pdf) that its 50:50 JV with FCC subsidiary Aqualia signed an EPC contract for the construction of the Abu Rawash wastewater treatment plant with investments of around USD 320 mn. The plant, […]

Egypt signs agreements worth EUR 400 mn with EIB: Egypt signed a number of agreements with the European Investment Bank (EIB) yesterday that will see the lender contribute close to EUR 400 mn to wastewater and sanitation projects, according to a statement from the Investment and International Cooperation Ministry. Minister Sahar Nasr signed a EUR […]

Are Egyptian authorities backing down from another ergot-type fiasco? Egyptian authorities plan to sieve the shipments of French and Romanian wheat that were halted for allegedly containing poppy seeds, Agriculture Minister Abdel Moneim Al Banna tells Reuters. The newswire notes that Al Banna’s comments “are the first by an official to suggest that the poppy […]

MOVES- BP’s head of investor relations, Jess Mitchell, will be retiring at the end of September after a five-year run in his position, Reuters reports. Mitchell will be replaced by the head of BP’s North America IR office, Craig Marshall, who has served in the company’s North Sea, Egypt, and Houston offices.

The Ismail cabinet signed off on the executive regulations for the law on repossession of illegally occupied land, which put in place a framework for inspecting and appraising reclaimed land, as well as the steps to be taken after illegally occupied state land is repossessed. Other key decisions taken during the weekly meeting include: Approving […]

Egyptian prosecutors have ordered the detention of Ibrahim Metwally, the lawyer who assisted the family of murdered Italian student Giulio Regeni, for 15 days, the Associated Press reports. The whereabouts of Metwally had been unknown since he was last heard from on Sunday. Prosecutors are accusing him of disseminating false news. AP says Metwally’s detention […]