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It looks like it’s the Finance Ministry’s week in the spotlight between a presser Finance Minister Amr El Garhy is due to hold today and the start of the roadshow for Egypt’s eurobond issue tomorrow. Egypt’s eurobond roadshow kicks off on Tuesday, 17 January with joint lead managers BNP Paribas, Citi, J.P. Morgan and Natixis […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
Dina Powell appointed Trump economic advisor
One of Trump’s top economic advisors is Egyptian by birth: Goldman Sachs partner Dina Powell, 43, a former State Department official and one-time White House staffer, is joining the Trump administration as Assistant to the President and Senior Counselor for Economic Initiatives, according to a statement from Goldman Sachs that’s gotten wide pickup (Bloomberg, Financial […]
Posted inWhat We're Tracking Today
Did you miss CEO Week at Enterprise?
Did you miss any of our CEO interviews? Last week was our first Enterprise CEO Week, and based on your response, we’re going to make it a semi-annual feature. In the meantime, the roster of participants, just in case you missed an interview: Karim Awad (EFG Hermes) Ahmed Badr (Renaissance Capital) Ahmed Badreldin (The Abraaj […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Gold exploration tender: The bidding window for the Petroleum Ministry’s gold exploration tender in the Eastern Desert and Sinai opens on 15 January and ends on 20 April, Youm7 reported. The tender includes four areas in the Eastern Desert and one in South Sinai. The African Cup of Nations 2017 kicked off last night, with […]
Posted inEnterprise+: Last Night’s Talk Shows
Prices of meds rise as pharma, gov’t go on the PR offensive
An agreement on pricing between the pharma industry and the Ismail government dominated the airwaves last night. (We have additional coverage in Speed Round, below). Lamees Al Hadidy interviewed Rasha Zeyada, the Health Ministry’s undersecretary for pharma industry affairs, who repeated Health Minister Ahmed Rady’s statements that the new prices are only for meds manufactured […]
Posted inSpeed Round
Health Ministry issues new price increases on meds
The prices of 3,010 individual medicines (pdf) will rise 30-50% under new pricing formula approved by the Health Ministry. Retail prices of 15% of all domestically manufactured products and 20% of all imported products will rise under the formula, for which industry has been lobbying for months, Al Mal reports. Domestic products in the EGP […]
Posted inSpeed Round
What does Cabinet want foreign investors to know?
What does Cabinet want foreign investors to know? Look no further than the cabinet-sanctioned readout (pdf) from EFG Hermes’ Egypt Conference, which provides person-by-person account of key messages from President Abdel Fattah El Sisi, Finance Minister Amr El Garhy, Trade and Industry Minister Tarek Kabil and Investment Minister Dalia Khorshid and CBE Governor Tarek Amer. […]
Posted inSpeed Round
Banque du Caire to IPO in April or May
Pencil in 2Q2017: Banque du Caire’s IPO will be in “April or May” of this year, Al Mal reported. Issuance managers EFG Hermes and HSBC are waiting for the bank’s results to be released to identify the exact financial requirements, according to the source. Baker & McKenzie was appointed legal advisor for the offering, the […]
Posted inSpeed Round
40 mn people will be removed from supply subsidies system in phase two of purge
The second phase of the Kramer purge will remove 40 mn people from the supply smart card subsidies system, bringing the total number of supply subsidies beneficiaries to 30 mn, unnamed Supply Ministry officials tell Al Shorouk. This is by far the largest estimate we have heard of the number of people due to be […]