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The EUR 238 mn contract signed with Siemens for six power transmission stations was 85% financed by foreign loans led by BNP Paribas as Coordinating MLA and Facility Agent and was closed in November. The loan benefited from a sovereign guarantee by the Finance Ministry and insurance by Germany's state-owned Export Credit Agency (ECA) Euler […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EGX chief given power to suspend traders suspected of manipulation for up to one month
EGX boss Omran granted powers to suspend brokers for up to a month: The EGX board approved on Sunday granting EGX Chairman Mohamed Omran the power to suspend brokers suspected of market manipulation for up to one month, Omran tells Al Shorouk. Omran’s justification was that suspending trading alone would not be enough and was […]
Posted inSpeed Round
Abbas Fayed named Bank Audi Egypt’s new Chief Executive Officer
MOVES- Abbas Fayed was named Bank Audi Egypt’s new Chief Executive Officer on Sunday, according to Al Borsa. Fayed had been the deputy chairman of the bank since October 2014 and prior to that had occupied various positions in Banque Misr, where he eventually reached the post of deputy chairman.
Posted inSpeed Round
Earnings Watch
**Earnings watch: Talaat Mostafa Group Holding (TMGH) reported consolidated net profits of EGP 826 mn in FY2016, up from EGP 762 mn in FY2015 according to a regulatory filing.
Posted inSpeed Round
Payfort, Wamda to collaborate on MENA fintech report
Online payment provider Payfort and entrepreneurship platform Wamda are collaborating on publishing the first fintech research report in the MENA region this month, Daily News Egypt reports. The report “aims to identify the key drivers and barriers for the new FinTech industry in the region. It will also offer insights on what solutions FinTech startups […]
Posted inSpeed Round
General Intelligence hires Weber Shandwick as DC lobbyist as State Department criticizes Egypt’s human rights record
Egypt’s General Intelligence Service hired Weber Shandwick to lobby on Egypt’s behalf in the US for USD 1.2 mn, according to the Associated Press, which cites documents on the Justice Department’s website. “The contract posted on the site shows that the company will assist Egypt in ‘promoting its strategic partnership with the United States,’ highlighting […]
Posted inSpeed Round
Eissa questioned over charges of insulting parliament
TV presenter Ibrahim Eissa was summoned for questioning at the Prosecutor General’s office yesterday, Al Masry Al Youm reports. Eissa’s questioning follows a case filed by Speaker Ali Abdel Aal, accusing Eissa of insulting the House of Representatives. Lawyer Nasser Amin says what is happening with Eissa is in violation of the constitution and goes […]
Posted inSpeed Round
Court drops corruption case against Hussein Salem
The Alexandria Criminal Court dropped a corruption lawsuit against Mubarak-era businessman Hussein Salem, his family, and 11 other defendants on Saturday, Daily News Egypt reports. Egypt had reached a reconciliation agreement with Salem and his family in August to drop charges in exchange for 75% of their wealth, worth EGP 5.34 bn.
Posted inSpeed Round
DFM launches first trading platform
Dubai Financial Market (DFM) launched a trading platform for exchange-traded funds (ETFs), the first of its kind in regional capital markets, yesterday. Afkar Capital listed the first ETF fund on DFM platform under the symbol UAETF and announced signing Al Ramz Capital as a new Authorized Participant (AP) for it, bringing the total number of […]
Posted inUncategorized
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