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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
The Ismail government’s investment map should go to the House Economics Committee next week, according to committee chair Amr Ghallab. An alleged draft of the map, which includes c. 600 projects in a wide range of sectors and locations, was leaked last month. The committee, which is currently reviewing the Investment Act’s executive regulations, wants […]
Posted inEnterprise+: Last Night’s Talk Shows
A night of random stuff on Last Night’s Talk Shows
With television power couple Lamees Al Hadidi and Amr Adib off the airwaves last night, the talking heads served us a random assortment of … not much. Interim EGX head Mohsen Adel told Yahduth fi Masr’s Sherif Amer that his focus during his (temporary) tenure will be on ramping up IPO activity and roping in […]
Posted inSpeed Round
Water prices increased by as much as 50%
Prime Minister Sherif Ismail signed off yesterday on raising water prices by as much as 50%. Consumers across all consumption tiers will be paying more under the new regime, which goes into effect retroactive to Tuesday, 1 August. The new prices for residential use ranged from EGP 0.45 to EGP 2.15 per cubic meter depending […]
Posted inSpeed Round
Egypt may see FDI inflows exceeding the USD 10 bn target for this year,
Egypt may see FDI inflows exceeding its USD 10 bn target for this year, Investment Minister Sahar Nasr told Bloomberg. Nasr says she was approached by investors from Saudi Arabia, Singapore, China, and the UAE, all of whom are reportedly interested in opportunities here. “Egypt sure has an edge,” Nasr says, as after the EGP […]
Posted inSpeed Round
Qalaa’s RVR’s contract to run Kenya-Uganda railway terminated, court orders
Kenya Railways has terminated Rift Valley Railways (RVR)’s 25-year contract to run the Kenya-Uganda railway, Business Daily reports. RVR is controlled by investment company Qalaa Holdings. Kenya’s High Court ruled that “the concession agreement dated January 23, 2006 be and is hereby terminated today July 31,2017” following a dispute over the failure of RVR to […]
Posted inSpeed Round
Abou Hashima rezones his USD 5.5 bn steel plant in SCZone
Abou Hashima rezones his USD 5.5 bn steel plant to fall in the SCZone: Egyptian Steel Chairman and CEO Ahmed Abou Hashima signed an agreement with Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish which would see his USD 5.5 bn steel plant rezoned within the SCZone. The plant will open in December, said Abou […]
Posted inSpeed Round
Adel to become EGX interim Chairman until Omran’s replacement announced
MOVES- Investment Minister Sahar Nasr confirmed that deputy EGX chairman Mohsen Adel will take the reins of the bourse in the interim until Prime Minister Sherif Ismail appoints a replacement for outgoing Chairman Mohamed Omran. Omran’s tenure ends legally on 6 August. Nasr told Ahram Gate she presented cabinet with the names of “more than […]
Posted inSpeed Round
Careem appoints VP of corporate development
MOVES- Cab-hailing service Careem announced the appointment of Zach Finkelstein as vice president of corporate development. Finkelstein, a co-founder of Silicon Valley-based Lumia Capital, will lead Careem’s investment agenda across the broader MENATP region; he’ll also be handling investor relations.
Posted inSpeed Round
Egypt, Ukraine face European Commission dumping probe
Egypt, Ukraine face European Commission dumping probe: The European Commission (EC) has begun investigating a complaint claiming that producers in Egypt and Ukraine are dumping ferro-silicon into EU territory. The complaint was lodged by EU-based producers Ferropem, Ferroatlántica SL, OFZ and Huta Laziska SA. The EC says “in the absence of reliable data on domestic […]