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M&A WATCH- Government-owned National Investment Bank (NIB) has decided to shelve plans to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), Al Mal reports, citing unnamed sources. NIB’s decision followed The National Media Authority (NMA)’s objection to the transaction last month. Source say NIB had acted unilaterally on the agreement and moved forward […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Germany reaches an agreement with Egypt to slow the flow of illegal migrants
Germany has reached an agreement with Egypt to slow the flow of illegal migrants, according to The Associated Press. “The agreement announced Monday is part of a wider effort by Germany to work with countries to fight the causes of unchecked migration. Under the agreement, Germany will give Egypt a EUR 28 mn grant to […]
Posted inSpeed Round
Fitch Ratings downgrades Qatar’s credit rating on Monday to AA-
Fitch Ratings downgraded Qatar’s credit rating on Monday by one notch to AA- with a negative outlook, citing the negative impact of the “Arab Quartet” blockade. Qatar may need to accelerate cuts to spending to offset against oil prices and any further damage to the blockade, Fitch said in a statement. “The move brings Fitch’s […]
Posted inSpeed Round
Gilead looks to acquire Kite Pharma for USD 11.9 bn
M&A WATCH- US pharma company Gilead reached an agreement to acquire Kite for USD 11.9 bn, according to the Financial Times. Gilead — the maker of hepatitis C cure Sovaldi — is looking to get its hands on an experimental med which fights cancer by re-engineering the patient’s white blood cells to attack the cancer. […]
Posted inSpeed Round
North Korean missile fired over Japan
North Korea fired a surprise test missile over northern Japan yesterday, “markinga sharp escalation of tensions on the Korean peninsula,” Reuters reports. The missile, which landed in the waters surrounding the island of Hokkaido with no harm done, was fired as US and South Korean troops rallied in the area for annual military drills to […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Pets — the chic new way to measure growing wealth in emerging markets
Pets — the chic new proxy for growing wealth in emerging markets: Pet ownership in developing countries is on the rise, which according to the FT’s Steve Johnson is indicative of a growing middle class in emerging markets, as well as changing lifestyles and attitudes towards cats and dogs. Dog ownership has grown 51% since […]
Posted inImage of the Day
New Egyptian fighter in Street fighter
Egyptian fortune teller Menat is the latest character to join the ranks of Capcom’s Street Fighter. Yes, ladies and gents, the Street Fighter saga lives on — on higher-tech consoles with better graphics, moves, sound, and overall gameplay. Street Fighter V is out today, with Menat as the newest member of the gang, wielding an […]
Posted inEGYPT IN THE NEWS
Egypt is one of North Korea’s main trading partners in the region
Cairo is one of Pyongyang’s leading trade partners in the Arab world and has long been interested in North Korean military technology, Samuel Ramani writes for The Diplomat. The piece traces the history of relations to draw the connection to the US’s decision last week to cancel or suspend USD 290 mn in aid to […]
Posted inEGYPT IN THE NEWS
Scientists discover ancient documents written in dead languages at St. Catherine’s monastery
Scientists reportedly discovered ancient works written in rare dead languages at Saint Catherine’s monastery, according to The Times of London. “Among the discoveries were three ancient Greek medical texts that were previously unknown to scholars, as well as the earliest copies of some from Hippocrates,” the article says. Researchers also stumbled on documents written in […]