• Monday, 1 March 2021

    Shuffle at Beltone management following demerger

    The EGX30 fell 0.03% at today’s close on turnover of EGP 1.34 bn (7.9% below the 90-day average). Foreign investors were net buyers. The index is up 6.23% YTD.In the green: Pioneers Holding (+3.7%), Sodic (+3.3%) and Madinet Nasr Housing...
  • Thursday, 18 February 2021

    Signed, sealed, and delivered

    Another four mining companies signed yesterday 10 new gold exploration contracts worth a combined USD 11 mn with the Oil Ministry, after being awarded concessions in the Eastern Desert in a tender issued last year, according to a ministry statement....
  • Monday, 11 January 2021

    Qatari Diar to resume City Gate project

    Qatari Diar will resume work on its CityGate project after getting the green light from the New Urban Communities Authority (NUCA), seemingly putting an end to a four-year dispute over the developer failing to deliver on construction targets, Al Shorouk...
  • Monday, 30 November 2020

    Last Night’s Talk Shows on 30 November 2020

    It was wall-to-wall football on the talk shows last night:Mansour + Zamalek board suspended: Masaa DMC's Eman El Hosary (watch, runtime: 2:50) and Ala Mas’ouleety’s Ahmed Moussa (watch, runtime: 6:04) highlighted the Sports Ministry's decision to suspend the Zamalek SC’s...
  • Sunday, 22 November 2020

    Sawiris’ attempts to acquire Shalateen Mining in doubt as talks halted

    M&A WATCH- Sawiris’ attempts to acquire Shalateen Mining in doubt as talks stop: Naguib Sawiris’ talks with the government to acquire 51% of state-owned Shalateen Mining have been suspended, Oil Minister Tarek El Molla told Reuters without giving further detail....
  • Wednesday, 11 November 2020

    Endeavor has Teranga in its sights for second West Africa gold merger

    Sawiris-backed Endeavour Mining continues quest to become West Africa’s gold king: Canada’s Endeavour Mining is in talks over a merger with West Africa-based miner Teranga Gold, the companies said in separate statements (here and here) yesterday, without providing further details....
  • Monday, 2 November 2020

    Winners of gold mining tender to be announced in November

    The results of Egypt’s latest gold and mineral exploration tender will be announced before the end of November, Al Mal reports, citing an unnamed government official. Canadian mining firm Barrick Gold, Naguib Sawiris’ La Mancha, and Egypt-focused Centamin are among...
  • Thursday, 1 October 2020

    New tender for pyramids sound and light show

    The Sound and Light Cinema Company (SLCC) has issued a global tender to develop and manage the sound and light show at the pyramids, according to Masrawy. SLCC has set a 5 November deadline for the submission of bids. SLCC...
  • Monday, 28 September 2020

    Orascom Financial Holding eyeing United Bank of Egypt?

    M&A WATCH- Is Orascom Financial eyeing the United Bank of Egypt? Orascom Financial Holding (OFH) could look at acquiring a controlling stake in the United Bank of Egypt in what could be the newly formed company’s first acquisition and foray...

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