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E-payments giant Fawry’s adjusted net income climbed 70% y-o-y to EGP 316.9 mn in 2022, according to its earnings release (pdf). Revenues, meanwhile, rose 38% to EGP 2.3 bn for the year. Net income was adjusted to exclude the impact of EGP 73.2 mn in one-time expenses from Fawry’s employee stock ownership program (ESOP). On […]
Author Archives: enterpriseam admin
Posted inMoves
Jumia Egypt appoints Hisham El Gabry as CEO
Jumia Egypt has appointed Hisham El Gabry (LinkedIn) its new CEO, the company said on Twitter. El Gabry has served as the e-commerce company’s CCO since January 2022. Prior to joining Jumia, El Gabry was head of fashion at Amazon UK after spending more than a decade at Vodafone. He replaces Hesham Safwat (LinkedIn) who […]
Posted inLAST NIGHT’S TALK SHOWS
Last Night’s Talk Shows: Qalyub train crash + more privatization talk
The train accident in Qalyub was one of the most talked about stories on last night’s talk shows, with Kelma Akhira (watch, runtime:2:29) and Ala Mas’ouleety (watch, runtime: 7:00) both covering the story. At least two people died and 16 were wounded when a train derailed in the city yesterday. More on the state’s privatization […]
Posted inEGYPT IN THE NEWS
The Qena Sphinx continues to dominate in the foreign press
The “smiley” Sphinx is still dominating the conversation on Egypt internationally: Archaeologists in Qena have discovered a small Sphinx believed to represent the Roman emperor Claudius at the Temple of Dendera. (AFP | Washington Post | BBC | CNN | The National | Xinhua | The Week) Also making headlines: In the spirit of international […]
Posted inAlso on our Radar
Abu Dhabi Ports is looking at the Suez Canal Economic Zone
UK green fuel and desalination firms are also interested.
Posted inPLANET FINANCE
Further + faster rate hikes possible, warns Fed’s Powell
From the horse’s mouth: The Federal Reserve will likely need to hike interest rates further and faster than currently expected to temper inflation, central bank chair Jerome Powell told lawmakers yesterday. The comments, made during Senate testimony yesterday, signaled that the Fed could raise its key rate by 50 bps at its next meeting in […]
Posted inDiplomacy
Foreign Ministry condemns deadly Israeli raid in Jenin
Egypt condemns latest Israeli raid: The Foreign Ministry has condemned a raid by Israeli forces in the Jenin refugee camp in the Occupied West Bank which according to Reuters killed at least six Palestinians and wounded 16 others. The ministry expressed “total rejection” of Israel’s repeated incursions in the territory, which have escalated markedly since […]