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The executive regulations for the recently-passed Natural Gas Act will be completed by September, Oil Minister Tarek El Molla had said on Saturday.
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
CBE’s move to hike interest rates still tops the airwaves
The CBE’s decision to hike interest rates by 200 bps last Thursday was still in the limelight on the airwaves last night. Also catching our attention is the Transport Ministry backtracking again on previous statements that the metro ticket prices were rising. CIB is yet to decide if it will change its interest rates in […]
Posted inSpeed Round
Supply Ministry raises subsidized bread production cost
Supply Ministry raises subsidized bread production cost: Supply Minister Ali El Moselhy agreed yesterday with the Federation of Egyptian Chambers of Commerce’s bakeries division to raise the cost of subsidized bread production to EGP 180 per each 100 kg sack of flour, up from EGP 160, Al Masry Al Youm reports. Each sack of flour […]
Posted inSpeed Round
Social Solidarity Ministry tasks committee with studying unemployment benefits
It looks like unemployment benefits may be coming after all: The Social Solidarity Ministry formed a committee to study the possibility of unemployment benefits, Al Borsa reported on Sunday. The committee will determine the criteria for eligibility and the number of citizens who would be paid in order to work out the feasibility of paying […]
Posted inSpeed Round
Egypt looks to double long-staple cotton production and exports in FY2017-18
Egypt is looking to double its famous long-staple cotton production and exports during FY2017-18, Agriculture Ministry spokesperson Hamed Abdel Dayem tells Reuters. Long-staple output this fiscal year — which is expected to rise to 1.4 mn qintar (160 kgs), up from 700k qintar last year — will all be exported and at a higher price […]
Posted inSpeed Round
Private placement for Naeem Holding's real estate fund 1.5X oversubscribed
Naeem Holdings’ real estate fund’s private placement 1.5x oversubscribed: The private placement for 20% of Naeem Holding’s EGP 1 bn real estate fund is 1.5x oversubscribed, an unnamed executive tells Al Borsa. The company expects the offering to be 2x oversubscribed when the placement’s one month extension ends on Thursday, 13 July, and hopes to […]
Posted inSpeed Round
Arab Organization for Industrialization clinches Toyota Fortuner assembly
AOI to assemble Toyota Fortuner models: It appears that Arab American Vehicles Company — a joint venture between Arab Organization for Industrialization (AOI) and Chrysler Group — will begin assembling Toyota Fortuner 2017 cars in Egypt, AOI said. The company plans to officially announce the move at a conference next week, Al Borsa reports. AOI […]
Posted inSpeed Round
USD 415 mn LNG pier in Ain Sokhna port begins trial operations
Trial runs have begun at the Arab Petroleum Pipelines Company (SUMED)’s USD 415 mn LNG pier at Ain Sokhna port, Ahram Gate reports. The project — which aims to receive LNG and pump it through the national grid, in addition to receiving, storing and transporting fuel to the domestic or export — is a crucial […]
Posted inSpeed Round
Impact of CIB on Egypt cannot be understated, according to Euromoney
Impact of CIB cannot be understated, according to Euromoney: CIB — the first bank in Egypt, the Middle East and Africa to win Euromoney’s World’s Best Bank in the Emerging Markets — has made a crucial impact on managing the social impact of political upheavals in Egypt over the past decade, said Euromoney on the […]
Posted inSpeed Round
TCV closes USD 2.5 mn investment in agri venture Plantform
INVESTMENT WATCH - TCV closes USD 2.5 mn investment in premium agri exporter Plantform: Egypt’s TCV (formerly Tanmiya Capital Ventures) announced on a Sunday that its mid-cap investment fund TCV1 has closed its first ever transaction with a USD 2.5 mn investment in agribusiness company Plantform. Plantform, which exports 100% of its premium speciality produce […]