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Another step closer to BRICS bank membership: Ministers approved plans for Egypt to join the New Development Bank (NDB), a multilateral lender set up by Brazil, Russia, India, China and South Africa (the so-called BRICS), cabinet said following its weekly meeting on Wednesday. What is the NDB? The USD 100 bn Shanghai-headquartered bank was launched […]
Author Archives: enterpriseam admin
Posted inMoves
ECHEM gets new chairman
Ibrahim Mahgoub was appointed chairman of the Egyptian Petrochemicals Holding Company (ECHEM) effective 13 December, the Oil Ministry said yesterday. Mahgoub succeeds Saad Helal who has retired. Mahgoub was formerly the chairman and managing director of the state-owned Misr Fertilizers Production Company (Mopco).
Posted inLAST NIGHT’S TALK SHOWS
Last Night’s Talk Shows: Debates over new licensing rules for shops + building reconciliation law
It was a mixed bag on the talk shows last night, with debate over security approvals required for shops under the Public Shops Law a big topic of debate. We have more in the morning’s news well, above. A bumpy road for wildcat building reconciliation law? Draft legislation to speed up the building reconciliation process […]
Posted inEGYPT IN THE NEWS
Pyramids half marathon gets international coverage
It’s a slow morning in the foreign press: A race through history: Nearly 4k runners from dozens of countries competed in a half marathon against the backdrop of the Great Pyramids of Giza on Saturday. (Xinhua) The National interviews Egyptian-British heart surgeon Magdy Yacoub on his storied career in healthcare and healthcare education.
Posted inUncategorized
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Posted inAlso on our Radar
Chimera completes acquisition of MNT stake from GB Auto
CONSTRUCTION- Egypt-based Engineering Consultants Group (ECG) was awarded a contract to design a multi-purpose hall for Saudi mega city Neom, according to its website. COMMODITIES- Bidding in cooking complex tender wraps: Seven local and international companies bid in the Supply Ministry’s tender for three new cooking oil complexes, Al Borsa reported Maj. Gen. Ahmed Hassanien, […]
Posted inPLANET FINANCE
Global stocks to recover in 2023? + Crypto exchanges suffer record outflows following FTX fiasco
Money managers see a recovery for global stocks next year after a harsh 2022: Some 71% of respondents in a Bloomberg survey of 134 major fund managers expect global equities to rise next year compared to 19% forecasting declines, amid signs inflation may have peaked and central banks could begin to ease rate hikes in […]
Posted inAROUND THE WORLD
Saudi-China ties grow with Xi visit
Big investments at the China-Arab summit: Some USD 50 bn in investment agreements were signed during Xi Jinping’s visit to Saudi Arabia last week, Saudi Investment Minister Khalid Al Falih told Bloomberg, remaining tightlipped on the details. He said that the agreements included both the private and public sectors, yet did not specify whether the […]