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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The Ismail cabinet’s economic group will be discussing the final form of theInvestment Act’s executive regulations this Wednesday, according to statements from Investment Minister Sahar Nasr last week. Discussion of the regs in the economics committee of the House of Representatives concluded yesterday, according to committee chair Amr Ghallab, who told the press that MPs […]
Posted inON THE HORIZON
On the horizon
The government will sign for a USD 60 mn tranche of funding from the European Bank for Reconstruction and Development (EBRD) next week as part of a USD 500 mn pledge to finance private sector development projects, said Investment and International Cooperation Minister Sahar Nasr (pdf). The announcement came during the signing of a USD […]
Posted inEnterprise+: Last Night’s Talk Shows
Airwaves are so bland in Amr and Lamees’ absence
Sunday night’s shows were so vapid, we’re one platitude or poorly-constructed question away from openly praying for the return of Lamees Al Hadidi and Amr Adib. Ten TV’s Amr Abdel Hamid spoke to Federation of Egyptian Builders member Daker Abdellah, who claims more than 2,800 of his 30k federation member companies have closed their doors […]
Posted inSpeed Round
Alwaleed bin Talal to invest north of USD 800 mn in hotel projects with Egypt’s TMG
INVESTMENT WATCH- Globally prominent Saudi businessman Alwaleed bin Talal’s Kingdom Holding Company will be investing more than USD 800 mn in projects alongside Egypt’s Talaat Moustafa Group (TMG) under an agreement inked with Investment and International Cooperation Minister Sahar Nasr on Sunday, a statement said. The funds will be used in part to finance TMG’s […]
Posted inSpeed Round
State leaning towards appointing White & Case as legal advisers on IPO program
IPO WATCH- NI Capital, the government’s investment bank and shot-caller on the new privatization drive, is reportedly leaning towards selecting international law firm White & Case to be its legal adviser on the program to list state-owned companies, government sources tell Al Borsa. White & Case would be contractually barred from bidding for mandates to […]
Posted inSpeed Round
EFSA sets deadline for abiding by minimum of 5% freefloat shares
Thirty companies could be delisted from the EGX if they do not meet new listing regulations handed down by the Egyptian Financial Supervisory Authority (EFSA) which we noted last week. Under the new amendments, companies do not have at least 5% of their shares in freefloat could face delisting and will be notified within a […]
Posted inSpeed Round
Yields on short-term borrowing continue to drop
Yields on three-and nine-month treasury bills fell again in yesterday’s auction, continuing the drop from Thursday’s auction. Reuters notes that yields on the 91-day bill dropped to 19.131% from 20.767% and yields on the 273-day bills were down to 18.878% from 20.570%. “We are witnessing an influx of foreign inflows which is easing liquidity and […]
Posted inSpeed Round
Food and beverages companies might stand to benefit most from coming of Investment Act
Food and beverages companies might stand to benefit most from the coming of Investment Act: In the current economic climate and with the coming of the Investment Act, the food and beverage sector will be of most interest to foreign investors, writes Matt Smith for Thomson Reuters’ Islamic finance portal Salaam. This comes despite falling […]
Posted inSpeed Round
Can the president cure Egypt’s economic ailments before voters decide they have had enough of austerity?
Can the president cure Egypt’s economic ailments before voters decide they have hadenough of austerity? By adopting economic measures that “that none of his predecessors dared execute,” President Abdel Fattah El Sisi is making “a risky bet on the healing power of economic pain,” writes The Wall Street Journal’s Yaroslav Trofimov (paywall). “As savings erode […]