Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The occupancy rate at floating hotels in Luxor and Aswan reached 60% this summer for the first time since January 2011 amid a large number of visitors from Germany, Spain, China and Japan, Princess Cruise Line Chairman Ehab Abdel Aal said, according to Al Shorouk. Reservations during the winter season, which begins in October, at […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
TE to complete work on gov’t district in NAC by end of 1H2020
State-owned landline monopoly Telecom Egypt (TE) expects to complete telecommunication services for the new administrative capital’s government district by the end of 1H2020, CEO Adel Hamed said, according to Mubasher. TE began working last week on an EGP 40 bn (c. USD 2.4 bn) project to develop a telecommunications network in the new capital after […]
Posted inOther Business News of Note
Rebranded Egyptians Abroad Co Odin obtains investment fund license from FRA
Odin Investments has obtained a license from the Financial Regulatory Authority (FRA) to set up and manage investment funds, the company said in an EGX disclosure (pdf). Odin is planning to launch next year a logistics sector focused fund, we noted in June — back when the company was named the Egyptians Abroad Investment and […]
Posted inLegislation + Policy
Egypt industry watchdog proposes law to limit informal sale of factory supplies
The Trade and Industry Ministry’s Industrial Control Authority has proposed a law to clamp down on the informal trade of factory supplies, authority head Ibrahim El Manasterly said. The proposed legislation, the details of which remain scant, would limit the sale of supplies to factories that are officially part of the formal economy, El Manasterly […]
Posted inLaw
Two Shahid Law lawyers recognized by Who’s Who Legal Energy 2019
Who’s Who Legal Energy 2019 have recognized Shahid Law’s managing partner Girgis Abd El-Shahid and partner Donia El-Mazghouny as two of Egypt’s top recommended lawyers in the energy sector. Girgis Abd El-Shahid was also recognized for his skills in arbitration, both in the region and internationally, a statement from the firm says.
Posted inSports
The Egyptian Weightlifting Federation banned from 2019 World Championships
The Egyptian Weightlifting Federation (EWF) has been banned from the 2019 World Championships by the Independent Member Federation Sanctions Panel (IMFSP), in response to a 2016 scandal in which seven members of the Egyptian weightlifting team were found to be doping, according to Al Shorouk. Measures are also being taken to remove Egypt’s weightlifters from […]
Posted inON YOUR WAY OUT
Egyptian campaign cleans up Ismailia garbage mountain
A clean-up campaign was launched to remove the so-called “garbage mountain,” a pile up of garbage in a 20 acres vacant downtown area in front of the Ismaili Social Club in Ismailia, according to Egyptian Streets. The campaign was part of a nationwide initiative launched by the Egyptian government.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.28 | Sell 16.40 EGP / USD at CIB: Buy 16.27 | Sell 16.37 EGP / USD at NBE: Buy 16.30 | Sell 16.40 EGX30 (Tuesday): 14,752 (-1.5%) Turnover: EGP 961 mn (52% above the 90-day average) EGX 30 year-to-date: +13.2% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
17-18 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate. 18 September (Wednesday): Egyptian Private Equity Association’s venture capital event (pdf) at the Conrad Hotel, Cairo. 21 September (Saturday): Cairo’s streets get really, really crowded as students at the nation’s public schools go back to class. […]
Posted inWhat We're Tracking Today
What we’re tracking on 17 September 2019
Saudi Arabia and the ramifications of last week’s attack on Aramco facilities have been dominating the headlines in the foreign press, thanks to renewed accusations that Iran had a hand in the attacks. Global stock markets also saw a dip as a result, with airline stocks and those of other fuel-intensive businesses taking the hardest […]