Author Archives: enterpriseam admin

M&A Watch: Solid Capital says it bid for CI Capital stake. Sources at Solid Capital, a newcomer to the industry that has won extensive coverage from Al Borsa and Al Mal, tell the domestic press the outfit has made an EGP 142.5 mn bid to acquire a 15% stake in CI Capital. The same story […]

M&A watch: Naguib likes mining now. The Naguib Sawiris-backed Endeavour Mining Corporation is studying a merger with Acacia Mining that would create a company with a combined market value of USD 3.8 bn, making up one of the largest precious metal-mining groups in Africa, Bloomberg reports. “Acacia confirms that it is in preliminary discussions regarding […]

What were the best sellers in 2016? Al Borsa has compiled a list of the 10 best-selling cars in 2016. It says the 1.5L Nissan Sunny topped the list at 11,186 vehicles sold, closely followed by the 1.6L Hyundai Verna and the 1.6L Hyundai Tucson. Five of the top 10 vehicles are distributed by publicly […]

Hotels in Cairo, Alexandria to see revenue increases –Colliers: Hotels in Cairo and Alexandria are some of the “hot spots” Colliers International expects to increase their revenue per available room from December 2016 to February 2017, according to Colliers’ MENA Hotel Forecast. Cairo hotels’ average daily rate is set to average USD 143, up 8%, […]

Despite the currency shortage and tourism that failed to recover in 2016, the government is on the right track with much-needed reform to push growth towards its potential, CPI Financial writes in what reads like a summary of a research note. Egypt’s fiscal and monetary policy are expected to tighten in 2017, and while “this […]

The Agriculture Ministry has raised the price of subsidized fertilizer to EGP 2,959 per tonne from EGP 2,000, a 48% price hike, Ahram Gate reported. The decision was based on an average FX rate of EGP 16.3 per USD and takes into account increases in production costs. Fertilizer manufacturers had refused to sell to the […]

Wait, is it 2012? Did we just wake up in Morsi-land? A bunch of TV channels (including ONTV and CBC) and a number of media buyers (including Promomedia and MediaLine) have sat down to work together an “purify” the airwaves of “harmful” ad content, Al Borsa. Whether that sentiment is real or this is a […]

Shoukry reiterates support for Palestinian cause, two-state solution at Paris summit: Egypt is committed to reaching an inclusive solution to the Israel-Palestine conflict, Foreign Minister Sameh Shoukry said at a Middle East peace conference in Paris, saying Egypt continues to “support the Palestinian people and the Palestinian cause,” Daily News Egypt reports. Al Masry Al […]

We’re waiting now for word Turkey is expanding its banana production after the one-time democracy’s parliament voted in favor of a new constitution that gives President Recep Tayyip Erdogan vast powers, BBC reported. Channeling his inner Idi Amin, Erdogan has ensured the document would abolish the post of prime minister, give him power to keep […]

Meet the best- and worst-performing funds of 2016, per the Financial Times using data from Morningstar. Half of the top 20 losers were health or biotech equities funds, and the biggest losers were a sterling fund and another that made “big bets on a collapse in markets that did not pay off” top the list. […]