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Did the treasury beat its tax collection target? The Finance Ministry will announce its tax haul for FY2016-17 “within days,” AMAY reports. The National Telecommunications Regulatory Authority is expected to announce the launch of commercial 4G service this week, after completing service network quality checks. Pitching Singapore, Vietnam on port infrastructure, auto sector and readymade […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Prime Minister Sherif Ismail met with the ministers of health and finance yesterday to review the latest draft of the Universal Healthcare Act, according to Al Mal. Cabinet is expected to begin discussing the act at the end of August, with plans to take it to the House of Representatives in September. The Council of […]
Posted inEnterprise+: Last Night’s Talk Shows
Nothing even remotely of interest in Last Night’s Talk Shows
You need to wake up right now, not take a soporific, so we’ll confine our remarks on last night’s talk shows to this: At least two talking heads discussed affordable housing projects for the 9,235th and 9,236th times this year. Another noted that the Mahalla workers have stopped their strike — and reassured us all […]
Posted inSpeed Round
Shell considers buying Israeli, Cypriot natural gas and pumping it to Egypt
Shell to help make Egypt a regional energy hub? Royal Dutch Shell is in talks to buy natural gas from Israel’s Leviathan field and Cyprus’ Aphrodite field and pump it to the Idku liquefaction plant in Egypt, sources told Bloomberg. “Talks are at an early stage and some of Aphrodite’s gas could be sold locally,” […]
Posted inSpeed Round
Banque du Caire share listing, UBE sale could be postponed to 2018
IPO WATCH- The central bank is considering delaying both the sale of United Bank of Egypt and the floating of 20% of Banque du Caire’s shares on the EGX, Al Masry Al Youm reports. The central bank had originally said it is planning on listing BdC on the EGX and selling UBE to a strategic […]
Posted inSpeed Round
Italy’s Danieli signs MoU for new steel factory in Ain Al Sokhna
Italy’s Danieli signed an MoU for a new steel factory in Ain Al Sokhna: Suez Canal Authority Chief Mohab Mamish signed an MoU with Italy’s Danieli that will see the latter build a 1.2 MTPA steel plant in the Ain Sokhna economic zone for the Suez Canal Iron and Steel Company, Al Mal reported on […]
Posted inSpeed Round
M&A WATCH: EFSA refuses Reacap fair value study
M&A WATCH- EFSA rejects Reacap’s FV report: The Egyptian Financial Supervisory Authority (EFSA) rejected Fincorp’s fair value assessment for Naeem subsidiary Reacap in connection with its merger with Wadi Degla, claiming it falls short of Egyptian benchmarks and standards, according to an EGX filing. EFSA is still reviewing the fair value report on Wadi Degla. […]
Posted inSpeed Round
Earnings watch: Egyptian Resorts Company
EARNINGS WATCH- Egyptian Resorts Company (ERC) reported a consolidatednet profit (pdf) of EGP 61 mn in 1H2017, up from a net loss of EGP 37 mn in 1H2016. Net revenues in 1H2017 were EGP 150 mn, up from EGP 16 mn in the same period last year on the back of land sales. “[ERC] capitalized […]
Posted inSpeed Round
Automotive prices jump 14-171% y-o-y in August
How much has the price of your favourite car gone up since last August? Car prices jumped 14-171% y-o-y in August, with Skoda seeing the biggest increase in prices and Opel the least, according to Al Mal’s calculations. The story includes brand-by-brand breakdowns of how prices have moved on specific models in the past year. […]
Posted inSpeed Round
RadioShack, Mobile Shop hit by Ikhwan-committee asset freeze
RadioShack, Mobile Shop hit by Ikhwan-committee asset freeze: The Ikhwan asset-freeze committee ordered frozen the assets of some 19 companies just days after it seized the assets of a number of media and publishing companies owned by alleged members of the Ikhwan. The companies include Mobile Shop, Computer Shop, and RadioShack—Delta RS, according to Al […]