{"id":588301,"date":"2023-06-08T00:00:00","date_gmt":"2023-06-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/this-evening-sczone-board-signs-off-on-selling-20-stake-in-pscchc-on-the-egx\/"},"modified":"2023-06-08T00:00:00","modified_gmt":"2023-06-08T00:00:00","slug":"this-evening-sczone-board-signs-off-on-selling-20-stake-in-pscchc-on-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/this-evening-sczone-board-signs-off-on-selling-20-stake-in-pscchc-on-the-egx\/","title":{"rendered":"THIS EVENING: SCZone board signs off on selling 20% stake in PSCCHC on the EGX"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, wonderful people, and happy THURSDAY <\/span><span style=\"\">to us all. We\u2019re ending the week<\/span><span style=\"font-weight:400;\"> with a relatively calm news day \u2014 save for a big step in the Madbouly cabinet\u2019s privatization plans. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Port Said Port operator heading to the EGX:<\/span><span style=\"\"> The Suez Canal Economic Zone\u2019s (SCZone)<\/span><span> board of directors signed off today on selling a 20% stake in Port Said Container and Cargo Handling (PSCCHC) in an IPO on the EGX as part of the Madbouly government\u2019s renewed privatization push, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UHQCi56xpbf5hwfVHWDqMFMQHJX3FKtGv9vg8o87GUe5BDbTwskH1rcWaC2FKThAl\" style=\"\">cabinet statement<\/a><\/span><span>. SCZone currently holds a 39% stake in PSCCHC. The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d2b9979-bfbb-4862-9963-dbd2fcdc388a\" style=\"\">Qatari Investment Authority<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5626f0c-d2bc-4eef-9533-55d89f18e0ed\" style=\"\">Abu Dhabi Ports<\/a><\/span><span style=\"font-weight:400;\"> had previously been in talks to acquire stakes in PSCCHC, along with Damietta Container and Cargo Handling. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Wildfire smoke spreading into the US from Canada are dominating headlines in the<\/span><span style=\"font-weight:700\"> international press this afternoon. <\/span><span>The smoke is spreading from Quebec, Nova Scotia, and Ontario due to low snowfall over the winter, followed by a dry spring and lightning. The resultant smoke is inhibiting vision, with authorities advising residents in the US and Canada to wear face masks and refrain from any outdoor activities. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/wildfires-canada-quebec-smoke-new-york-washington-86eb7685c5330c548fd93891fffcfd65\" style=\"\">Associated Press<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-65828469\" style=\"\">BBC<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/nytimes.com\/live\/2023\/06\/08\/us\/canada-wildfires-air-quality-smoke\" style=\"\">New York Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/57f950ef-1110-4080-9324-903454770f5e\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.abc.net.au\/news\/2023-06-08\/how-did-canadian-wildfires-start-smoke-spreading-united-states\/102454424\" style=\"\">ABC<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Qatar Investment Authority (QIA) is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6660c00e-ced7-4412-b7b7-ee87d5708718\" style=\"\">reportedly close to acquiring a 25-30% stake<\/a><\/span><span style=\"font-weight:700\"> in Vodafone Egypt<\/span><span style=\"font-weight:400;\"> from Telecom Egypt through the Qatari ruling family\u2019s telco Ooredoo.<\/span><\/li>\n<li><span style=\"font-weight:700\">A Saudi takeover in the cards for Heliopolis Housing?<\/span><span> Heliopolis Housing and Development (HHD) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d8d3772-b4e2-4733-aca7-75655c9ae8fa\" style=\"\">has denied reports in the local media<\/a><\/span><span style=\"font-weight:400;\"> that Saudi real estate developer Alameriah is offering to buy a 70% stake in the company for USD 400 mn.<\/span><\/li>\n<li><span style=\"font-weight:700\">AfreximBank helps finance three new jets for Air Cairo:<\/span><span> CIAF Leasing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86a3ee79-a958-4e40-92bc-53a66c7a8bee\" style=\"\">has secured a USD 44 mn aircraft financing facility<\/a><\/span><span style=\"font-weight:400;\"> from the African Export-Import Bank (AfreximBank).<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/span><span style=\"font-weight:400;\"> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We have tons more in the pipeline \u2014 come help us build new publications.<\/span><span style=\"font-weight:400;\"> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That said, we're looking for gifted story-tellers from all walks of life and across all professions<\/span><span style=\"font-weight:400;\">, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NEVER WORKED IN A NEWSROOM BEFORE?<\/span><span style=\"font-weight:400;\"> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">During the program you will learn:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;<\/span><\/li>\n<li><span style=\"font-weight:400;\">Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to develop sources that will give you the key insights needed to tell a complete story;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to communicate these stories with the confidence and language of an insider.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Not an internship program \u2014 a career:<\/span><span style=\"font-weight:400;\"> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/span><span> in your subject line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">?\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">We\u2019re getting a mix of sun, clouds, and high temperatures this<\/span><span style=\"font-weight:400;\"> weekend, our favorite weather app suggests. Tomorrow\u2019s daytime high is forecast at 40\u00b0C, while Saturday is expected to peak at 37\u00b0C. Both days will see nighttime lows of 22\u00b0C.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people, and happy THURSDAY to us all. We\u2019re ending the week with a relatively calm news day \u2014 save for a big step in the Madbouly cabinet\u2019s privatization plans. THE BIG STORY TODAY Port Said Port operator heading to the EGX: The Suez Canal Economic Zone\u2019s (SCZone) board of directors signed off [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":588302,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,81,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-privatization-watch","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"8639325b-b220-442d-8c00-a8b165e11a15","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2019\/12\/1116.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[588299],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.5dd8f727-8ac2-438d-bff0-9575062c41be.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: SCZone board signs off on selling 20% stake in PSCCHC on the EGX - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/this-evening-sczone-board-signs-off-on-selling-20-stake-in-pscchc-on-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: SCZone board signs off on selling 20% stake in PSCCHC on the EGX\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people, and happy THURSDAY to us all. We\u2019re ending the week with a relatively calm news day \u2014 save for a big step in the Madbouly cabinet\u2019s privatization plans. 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THE BIG STORY TODAY Port Said Port operator heading to the EGX: The Suez Canal Economic Zone\u2019s (SCZone) board of directors signed off [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/this-evening-sczone-board-signs-off-on-selling-20-stake-in-pscchc-on-the-egx\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-06-08T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2019\/12\/1116.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 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&quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/471.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579240,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/investment-banks-eye-terminal-operator-ipos-and-qatars-swf-is-looking-for-a-strategic-stake\/","url_meta":{"origin":588301,"position":1},"title":"Investment banks eye terminal operator IPOs \u2014 and Qatar\u2019s SWF is looking for a strategic stake","author":"enterpriseam admin","date":"31 January 2023","format":false,"excerpt":"A unit of Qatar\u2019s sovereign wealth fund is eyeing majority stakes in two state-owned terminal operators as investment bankers angle for IPO mandates in what could be the first sign so far this year of significant new activity in the Madbouly government\u2019s privatization program.The Qatar Investment Authority\u2019s Maha Capital has\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/536.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577806,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/","url_meta":{"origin":588301,"position":2},"title":"EGX greenlights listing of state-owned ports company ahead of IPO","author":"enterpriseam admin","date":"6 December 2022","format":false,"excerpt":"State-owned maritime transport company to list on the EGX on Wednesday: The EGX\u2019s listing committee has signed off on the temporary listing of the state-owned Port Said Container & Cargo Handling Company (PSCCHC) ahead of a planned IPO, the bourse said in a statement (pdf). This gives the company six\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/90.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584041,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/abu-dhabi-ports-bids-for-state-owned-port-operators-al-mal\/","url_meta":{"origin":588301,"position":3},"title":"Abu Dhabi Ports bids for state-owned port operators -Al Mal","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"Talks with the Qatar Investment Authority for the companies have stalled","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/425.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583607,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/16\/this-evening-state-privatization-program-will-likely-lead-with-oil-companies-credit-suisse-gets-a-lifeline\/","url_meta":{"origin":588301,"position":4},"title":"THIS EVENING: State privatization program will likely lead with oil companies + Credit Suisse gets a lifeline","author":"enterpriseam admin","date":"16 March 2023","format":false,"excerpt":"Happy THURSDAY, friends. We\u2019re finally winding down a hectic week as we slide into our last weekend before Ramadan rolls around.THE BIG STORY TODAY Oil and gas companies are likely going to be first in the chute for state privatization reboot: Six of the first eight state-owned companies that are\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/old-stock-market1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576944,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/is-the-state-readying-logistics-companies-for-egx-debuts-in-2023\/","url_meta":{"origin":588301,"position":5},"title":"Is the state readying logistics companies for EGX debuts in 2023?","author":"enterpriseam admin","date":"3 November 2022","format":false,"excerpt":"More color on the state\u2019s 2023 IPO pipeline: The Madbouly government plans to IPO as many as four state-owned maritime and land transport companies during 1Q 2023 as it looks to reboot its stalled privatization program, the domestic press reports, citing unnamed sources. 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