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INVESTMENT WATCH- Twenty South Korean multinationals have appetite for Egypt, the Investment Ministry said yesterday in a statement following the Egyptian-Korean Business Council meetings. LG Electronics is looking to invest USD 15 mn in Egypt in 2020, while POSCO wants to build a power transmission plant in the new administrative capital, company officials said on […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s draft Labor Act gets approval from House Manpower Committee
LEGISLATION WATCH- Labor Act receives House committee approval: The House Manpower Committee has approved the long-languishing Labor Act, and will refer it to the general assembly for discussion and a final vote, committee head Gibali El-Maraghi said, according to Ahram Online. The act was put up for public consultations two years ago, El-Maraghi said, but […]
Posted inSpeed Round
Egypt, Cyprus, Greece condemn Turkey’s oil exploration in the East Med
The unofficial theme of yesterday’s Egypt-Greece-Cyprus summit: ‘Turkey = bad’. Egypt, Greece and Cyprus condemned Turkey’s attempts to drill for oil in Cypriot waters during a trilateral summit in Cairo yesterday, according to an Ittihadiya statement. President Abdel Fattah El Sisi, Cypriot President Nicos Anastasiades, and Greek Prime Minister Kyriakos Mitsotakis called Turkey’s actions a […]
Posted inSpeed Round
Ethiopia accuses Egypt of having “colonial era” control of Nile
Ethiopia ratchets up rhetoric in GERD row: The extent of the diplomatic impasse over the Grand Ethiopian Renaissance Dam (GERD) was laid bare yesterday after it emerged that Ethiopia had accused Egypt of having “colonial era” control of the Nile. A note distributed to embassies by the Ethiopian Foreign Ministry on 1 October called Egypt’s […]
Posted inSpeed Round
Egyptian e-payments platform Fawry reports 1H2019 earnings
EARNINGS WATCH- Fawry reports 7% y-o-y fall in 1H2019 profits: E-payments platform Fawry reported a 7% y-o-y decline in net profit to EGP 23.7 mn in 1H2019, compared to EGP 25.5 mn in 1H2018, according to the company’s maiden earnings release (pdf). Revenues climbed to EGP 373.3 mn during the first half, up from EGP […]
Posted inSpeed Round
Prime Holding appoints Naglaa Auf VP of strategic planning and management
MOVES- Prime Holding has appointed Naglaa Auf as the company’s VP of strategic planning and management. Auf has more than 25 years experience of management in the banking sector.
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
Ahly versus Zamalek — a visual history of the great rivalry in Egyptian football
Ahly versus Zamalek — a visual history of the great rivalry in Egyptian football: The struggle between Ahly and Zamalek for football supremacy has been going on for over 100 years, and doesn’t look likely to stop anytime soon. Since 1917, there have been 233 matches between the two teams, of which Ahly has won […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 9 October
On a relatively quiet morning for Egypt in the foreign press, we’re hearing continuing echoes of protest-related coverage. Over 100 children are among the people detained in the wake of recent demonstrations, Ruth Michaelson reports for the Guardian. Meanwhile, over 1,000 teachers have been dismissed from their positions for alleged terrorist links, Asharq Al Awsat […]
Posted inWorth Listening
Closer public-private sector collaboration could send entrepreneurship in MENA skyrocketing
Closer public-private sector collaboration could send entrepreneurship in MENA skyrocketing, but the private sector needs to lead the way, says World Bank private sector specialist Ali AbuKumail in this podcast (listen, runtime: 25:00). There is a direct correlation between a business-friendly environment and increased entrepreneurial activity, so entrepreneurs will gravitate towards hubs where they can […]