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A World Bank delegation is set to visit Egypt this coming Sunday through Thursday to discuss signing the third and final USD 1 bn tranche of its USD 3 bn loan, according to a statement from the Investment and International Cooperation Ministry. Another WB delegation will visit next month to follow up on the USD […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Lamees, come back — please? Pretty please?
It was a night of quiet monotony on the airwaves last night that left us yearning for the return of Lamees Al Hadidi and Amr Adib, who are still out on summer break. The decision to offer a 50% discount on port fees is part of a larger plan to attract moremaritime traffic and not […]
Posted inSpeed Round
Gov’t could issue up to USD 4 bn in eurobonds in January
The Finance Ministry is weighing raising up to USD 4 bn eurobond issuance in January, an official said, according to Bloomberg’s Mirette Magdy. “The ministry may approach investment banks to select advisers for the possible sale within three months. … The amount and the timing would depend on market conditions, the official said.” The official […]
Posted inSpeed Round
Government announces incentives for shipping companies
Ship lines get port fee break as gov’t looks to restore competitiveness: The Ismail government will be providing shipping companies with breaks on Suez Canal port fees as high as 50%. The reduced pricing will be proportionate to the volume of cargo shipped by the lines, Transport Minister Hisham Arafat and the Suez Canal Authority […]
Posted inSpeed Round
Earnings watch: Elsewedy Electric
EARNINGS WATCH- Elsewedy Electric posted net profit after minority interest of EGP 3 bn for 1H2017 (up 84.6% y-o-y) on revenues of EGP 20.7 bn, the company said in its half-year earnings release yesterday (pdf). CEO Ahmed El Sewedy noted that the company nearly doubled its revenues “without any significant impact on our profitability margins […]
Posted inSpeed Round
Wheat prices dropping internationally spark interest of Egyptian buyers
The wheat market has turned bearish as the prospect of another season of ample supply has sent prices plunging with “bigger-than-expected harvests in Russia and neighboring nations,” according to Bloomberg. “Money is flowing out of all the commodity markets … The spring wheat production number didn’t come down nearly as much as the bulls in […]
Posted inSpeed Round
PM issues resolution governing chambers of commerce, establishes general authority for Golden Triangle
Chambers of commerce to be allowed to invest as institutions: Prime Minister Sherif Ismail issued a resolution yesterday that allows chambers of commerce and their federations to establish new companies or invest in existing businesses in their institutional capacity, Al Mal reports. The directive would allow the groups to work within most fields and sectors, […]
Posted inSpeed Round
Iraq forms new joint venture with pan-Arab shipping company
Iraq has formed a new joint venture “with a shipping company owned by Arab states to transfer, store and trade crude and oil products,” Reuters reports. The new company is called Al-Iraqia Shipping Services and Oil Trading (AISSOT), and it will handle a “plethora of activities ranging from trading of petroleum products, ship chartering, oil […]
Posted inSpeed Round
US takes a tough stance on NAFTA negotiations as Trump disbands two business councils
US takes a tough stance on NAFTA negotiations: Talks over the North American Freetrade Agreement (NAFTA) started on Wednesday, with the US strident in its demands that the “unfair” agreement needs “major improvement.” With NAFTA being one of the rallying points of US President Donald Trump’s campaign, US Trade Representative Robert Lighthizer struck a belligerent […]
Posted inUncategorized
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