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Author Archives: enterpriseam admin
Posted inUncategorized
Still more What We’re Tracking Today
Our roundup of Last Night’s Talk Shows is off this morning — every host of note was on hiatus last night. Send a message to the outside world: A longtime friend of Enterprise has gotten together with a number of his friends to launch an online petition to talk about religious tolerance in Egypt. The […]
Posted inSpeed Round
New investment in pharma, snack foods + state IPO program inching forward
INVESTMENT WATCH- Pharma giant Sanofi is looking to increase investments in Egypt by EUR 70 mn “in the coming period,” company representative told Investment Minister Sahar Nasr. Pfizer is also looking to expand in Egypt, with plans for a USD 50 mn investment. Nasr also met with executives from Novartis, GlaxoSmithKline, and Pharma Egypt to […]
Posted inSpeed Round
Foreign investment in treasuries up 13% in the past week alone
Foreign investment in Egyptian treasuries increased 13% in the past week to EGP 136 bn (USD 7.5 bn), the Finance Ministry’s head of public debt, Sami Khallaf, told Reuters. The increase followed the central bank’s decision to raise interest rates by 200 bps. Central Bank Governor Tarek Amer described the level of investment since the […]
Posted inSpeed Round
Renaissance Capital MENA CEO Ahmed Badr sets Bloomberg’s morning show hosts straight on Egypt
Renaissance Capital MENA CEO Ahmed Badr sets Bloomberg’s morning show hosts straight on Egypt. Our friend Ahmed Badr held down the fort on Bloomberg’s regional morning show yesterday, fielding questions on Egypt, Saudi Arabia and the still-unfolding intra-GCC tiff from both Yousef Gamal El Din in Dubai and Sherry Ahn in Hong Kong. The highlights: […]
Posted inSpeed Round
Trade and Industry Ministry issues amendments to import-export executive regulations
Trade and Industry Minister Tarek Kabil issued amendments to import and export regulations on Wednesday meant to slash red tape, AMAYreports. The new regulations — which go into effect today — make it mandatory to process payments for imported goods worth USD 2k or more through the domestic banking system. The changes also make it […]
Posted inSpeed Round
Cabinet signs off on amended Consumer Protection Act, will create a single regulator for Nile transportation and commercial traffic
The Ismail government signed off on amendments to the Consumer Protection Act during its weekly meeting on Wednesday, according to a Cabinet statement. The amendments had stirred tension in the business community, particularly provisions that would allow the government to set price controls. Cabinet also began discussing amendments to the Companies Act announced by theInvestment […]
Posted inSpeed Round
Unregistered buildings have a total market value of EGP 300 bn -Housing Ministry
There are 500k unregistered buildings nationwide with a combined estimated market value of EGP 300 bn, the Housing Ministry’s Building Technical Inspection Authority chairman Abdel Moneim Saleh tells Al Borsa. Saleh says the ministry expects a haul of EGP 150 bn if the illegal developers filed to resolve the disputes. This is pending approval of […]
Posted inSpeed Round
Earnings watch: Egyptian Resorts Company and Raya Contact Center
EARNINGS WATCH- Egyptian Resorts Company (ERC) reported a consolidated net profit of EGP 66.1 mn in 1Q2017, up from a net loss of EGP 1.4 mn in the same period last year. Revenues increased to EGP 121.3 mn in 1Q2017, up from EGP 10.3 mn in 1Q2016, on the back of revenue recognized from the […]
Posted inSpeed Round
National Press Authority announces new chairmen and chief editors of state-owned news outlets
The National Press Authority appointed press syndicate head Abdel Mohsen Salama as chairman of Al Ahram, Ahram Online reports. Hit the link for the full list of new editors-in-chief and chairmen.