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IPO Watch: Real estate developer Misr Italia Group is looking to list 20-25% of its shares in an IPO sometime in May, co-CEO Mohamed El Assal told Bloomberg on Saturday. The company is hoping to raise EGP 1.5 bn from the sale and will use the proceeds to complete some ongoing projects as well as […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Utsch AG withdraws case filed against Egypt, resolution reached
Nasr reaches resolution with Utsch AG, company withdraws arbitration case: Germany’s Utsch AG has agreed to withdraw the international arbitration case it filed against Egypt in regards to what was known as the “license plates” case, according to sources at the Investment and International Cooperation Ministry. Utsch and its subsidiaries had filed an international arbitration case […]
Posted inSpeed Round
EGP 5 bn in contracted sales targeted in 2017 -MNHD’s “Meet the Board”
Madinet Nasr for Housing and Development’s (MNHD) is on track to achieve its target of EGP 5 bn in contracted sales in 2017, said CEO Ahmed El Hitamy at a “Meet the Board” event in Taj City in Cairo which we attended. By the end of 1Q17, MNHD has already achieved 38% of the targeted […]
Posted inSpeed Round
Hyde Park launches EGP 15 bn residential projects
Hyde Park is launching two residential projects in New Cairo and on the North Coast worth a combined EGP 15 bn, the company announced at the CityScape Egypt real estate conference on Friday, Al Borsa reports. The company has begun taking orders for the second phase of Park Corner, part of the EGP 35 bn […]
Posted inSpeed Round
Supreme Constitutional Court declares it illegal to freeze assets of bankrupt individuals
The Supreme Constitutional Court declared on Saturday that it is unconstitutional tofreeze the assets of bankrupt individuals, Al Mal says. The verdict appears to be in line with the new Bankruptcy Act that’s expected to be issued soon, which creates a regulatory framework for bankruptcy proceedings and essentially cancels off prison sentences in legally sound […]
Posted inSpeed Round
Mohamed Abdel Azim was appointed President of Khalda
MOVES- Appointments at state petroleum companies: Mohamed Abdel Azim was named president of Khalda Petroleum Company and vice-president at state gas outfit EGAS, AMAY reports. The appointment was made yesterday by Petroleum Minister Tarek El Molla, who also appointed Sayed Mowafi as a vice-president at Khalda and Alaa Abdel Fattah Al Battal as a vice-president […]
Posted inSpeed Round
16 people wounded in a blast in Tanta
One policeman was killed and 15 people were wounded in a blast that struck a police training center in Tanta on Saturday, Reuters reports. The attack was claimed by the Liwaa El Thawra terrorist group.
Posted inSpeed Round
Gaza on the brink of war again -Shapiro
Once again, war is looming in Gaza, former US ambassador to Israel Daniel Shapiro writes for Bloomberg View. There are all the usual signs of a potential conflict escalating, Shapiro explains. “A war could be sparked by a range of incidents — a border fence event with casualties; a ‘lucky’ rocket strike by a Salafist […]
Posted inImage of the Day
Logo for Pope Francis’ state trip to Egypt
The Egyptian Catholic Church has released the official logo for Pope Francis’ trip to Egypt, with the tagline: “Pope of Peace in Egypt of Peace.” The logo, sadly does not include the Popemobile. Pope Francis will be here 28-29 April.
Posted inEGYPT IN THE NEWS
El Sisi’s trip is all anyone can talk about in the foreign press
It is perhaps unsurprising that, just like the local press, coverage of the Sisi-Trump summit tops headlines on Egypt in the foreign press. Among the highlights of a decided mixed bag of nuts: President Abdel Fattah El Sisi’s visit to the US is “long overdue,” but comes in a time when Egypt is moving in […]