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Pharos Holding is hosting its “Egypt Banking Day” eventtomorrow (Wednesday, 13 September) to highlight developments in the banking sector domestically. The event aims to provide insight on the banking sector through one-on-one meetings, as well as to foster closer relationships and open communications between the banks and investors. Egypt Banking Day will focus on allowing […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
North Sinai attack tops talks, Adib plays mediator on El Warraq debacle
A terror attack in North Sinai that left 18 security personnel dead topped the airwaves last night. We have more coverage on the story in this morning’s Speed Round. But we before we dive into that, Hona Al Asema’s Lamees El Hadidi spoke to Palm Hills Development Chairman Yasseen Mansour about the EGP 150 bn […]
Posted inSpeed Round
Egypt could face a second wave of tender boycotts due to concerns over poppy seed presence in wheat shipments
“Egypt risks facing tender boycotts for a second season” after it stopped a French shipment earlier this week claiming it contains poppy seeds, Bloomberg says. The case is being referred to prosecution, even though the French embassy in Cairo confirmed the cargo met Egyptian specifications. “The new holdups are reviving concerns over which government body […]
Posted inSpeed Round
GAO does not like the results of its limited scope audit of TE
Serious governance questions raised wannabe 4G provider Telecom Egypt. Egypt’s Government Accountability Office (GAO) issued a largely negative qualified report after a limited scope audit of Telecom Egypt (TE) on both its standalone and consolidated financials. On the consolidated financials, the GAO’s qualified opinion came with a number of issues it said TE should fix […]
Posted inSpeed Round
Gov’t to introduce law capping private sector healthcare prices before rolling out universal healthcare?
Is the government looking to cap prices for private healthcare providers before rolling out the Universal Healthcare Act? The Ismail government is still looking to bring in the Universal Healthcare Act next year, with Health Minister Ahmed Rady saying the bill will go before the House of Representatives when it reconvenes in October. In statements […]
Posted inSpeed Round
Saudi Aramco may have given a big boost to our ambitions as a regional energy hub
Good news for our energy hub ambitions: Saudi Aramco is considering using excess capacity at Egyptian refineries to refine Saudi crude and use Egypt as a marketing hub for refined Saudi oil products, according to Ahram Gate. The suggested plan is to ship the crude through the SUMED pipeline and use Sidi Kreir as a […]
Posted inSpeed Round
OCI N.V. appoints Hassan Badrawi as CFO
MOVES- OCI N.V. has appointed Hassan Badrawi as Group CFO, effective 1 October, the company said in a statement. A prominent member of the business community and longtime Orascom exec, Badrawi has served as executive vice president of OCI N.V. since 2016. He succeeds Salman Butt, who served as CFO for 12 years and will […]
Posted inSpeed Round
EGX cuts circuit-breaker time to 15 from 30 minutes
EGX cuts circuit-breaker time to 15 minutes from previous 30: The Egyptian Financial Supervisory Authority (EFSA) has approved the EGX’s decision to reduce trading halt times to 15 minutes, down from 30 minutes, as of today. Reuters’ translation of the bourse statement notes that the decision will lead to a “shortening of the time for […]
Posted inSpeed Round
DBK Pharma’s long-talked listing will take place in 4Q2017
IPO WATCH- DBK Pharma’s drawn out relisting will take place in 4Q2017, the company’s chairman Hamdy El Debeky tells Al Borsa on Monday. The company’s relisting on the EGX had been marred by delays after it was initially expected to take place earlier this year. The Egyptian Financial Supervisory Authority had signed off on the […]
Posted inSpeed Round
EIB makes its first investment in an Egyptian fund since 2011
EIB makes its first investment in an Egyptian fund since 2011: The European Investment Bank will invest USD 15 mn in Egypt Mid-Cap, a private equity fund targeting investments in small and medium-sized companies on Sunday. “This is the first EIB operation signed in Egypt under the Risk Capital Facility for the Southern Neighbourhood Countries […]