Author Archives: enterpriseam admin

The Trade and Industry Ministry announced on Thursday that the trade deficit for 1H2017 was nearly halved thanks to falling imports and a modest bump in exports. The ministry says the trade deficit dropped 46% y-o-y to USD 13 bn. This came as imports fell 30% to USD 24 bn compared to the same period […]

Egypt stands out in this week’s On the Frontiers column in the Wall Street Journal, which features a mini-interview with Birch Reynardson, PM at London-based Somerset Capital. On Omm El Donia, which he says has been “a great contributor” to his portfolio: “They’re executing most of the target structural reforms that they instigated a year […]

IPO WATCH- El Garhy Steel Group plans to offer 25% of its shares on the EGX during 1Q2018, Chairman Gamal El Garhy said on Saturday, according to Al Masry Al Youm. The company hopes to raise around EGP 3.6 bn in capital needed for its USD 200 mn pelletizing plant and USD 250 smelting and […]

IPO WATCH- Misr Italia is moving forward with previously communicated plans to list its shares on the EGX, the company said, according to Al Masry Al Youm, denying reports it plans to postpone the move. Misr Italia had said in April that it is looking to list 20-25% of its shares “sometime in May,” but […]

INVESTMENT WATCH- “Mohamed Alabbar is interested in making a large investment in Al Alamein,” Emaar Properties CEO Mohamed El Dahan told Investment Minister Sahar Nasr and Housing Minister Moustafa Madboulyin a meeting on Saturday. The three explored some of the possible projects available there for Emaar, including development on New Al Alamein. The move is […]

INVESTMENT WATCH- Gold miner Centamin will not invest further in exploration in Egypt if the tender terms offered by the Egyptian Mineral Resources Authority are not changed, CEO Andrew Pardey told Reuters’ Eric Knecht. “If the new bid round they keep talking about comes out with the same terms as the previous one, we will […]

INVESTMENT WATCH- A Saudi investor is looking to set up an EGP 2 bn fish farm in Marsa Matrouh’s Al Nageela, a local government official . The project is part of a local development plan, Matrouh Governor Alaa Abou Zaid tells the newspaper. Among the investments he expects in the first phase of the program […]

And speaking of Saudis and fish: Saudi Arabia has temporarily banned imports of certain fish products from Egypt, Al Masry Al Youm reports. Saudi Arabia says its ban is for fears of the tilapia lake virus, following a warning from the UN FAO. Industry professionals say the virus is only harmful to other fish species […]

MOVES- Cleopatra Hospital Group CEO Ahmed Ezz El Din has been appointed a co-chair of the American Chamber of Commerce in Egypt’s Health and Pharma Committee.

MOVES- Charles Hooper has a third star. The former chief of the Office of Military Cooperation at the US embassy in Cairo was confirmed by the US Senate as a lieutenant general and named director of the Defense Security Cooperation Agency, according to Defense News. DSCA is the Pentagon’s point office on foreign weapon sales. […]