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Vehicle sales sustain downward trend during the first half of the year: Total car sales in Egypt stood at 74,084 vehicles in 1H2019, down 6.8% y-o-y from 79,474 during the same period last year, according to figures from the Automotive Information Council (AMIC) cited by Hapi Journal. Passenger car sales dropped 11% y-o-y to 51,311 […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Dubai financial regulator fines Abraaj USD 314.6 mn for “serious wrongdoing”
Dubai financial regulator hands record USD 314.6 mn fine to Abraaj for “serious wrongdoing”: Former private equity giant Abraaj has been fined a record USD 314.6 mn by Dubai’s financial regulator, the Wall Street Journal reports. The Dubai Financial Services Authority (DFSA) said that Abraaj used funds from investors to pay expenses and send money […]
Posted inSpeed Round
Earnings watch: Edita net profit increases 26.3% y-o-y in 2Q2019
EARNINGS WATCH- Edita net profit increases 26.3% y-o-y in 2Q2019: Snack food maker Edita recorded a 26.3% y-o-y increase in net profit for 2Q2019 to EGP 31.7 mn, according to the company’s earnings release (pdf). Revenues from the quarter reached EGP 862.8 mn, up 9.3% y-o-y. Commenting on the results, Chairman Hani Berzi said, “Edita’s […]
Posted inSpeed Round
NI Capital appoints Mohamed Metwally as new CEO
MOVES- State investment bank NI Capital has appointed Mohamed Metwally as its new CEO, the bank said in a press release (pdf). Metwally previously served as Deputy CEO at HC Securities & Investment and Managing Director & CEO at Abu Dhabi-based Siraj Finance, a home finance company. He had also previously held positions at Salomon […]
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented, quirky people to join our team and help us make both the product you’re reading now and some exciting new stuff. We’re particularly interested in: Journalists with print, audio and / or video skills — both editors and reporters (for both our English and our Arabic editions); […]
Posted inUncategorized
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Posted inImage of the Day
BBC photographer brings life into the Palestinian story
More than a war zone: Focusing her lens on day-to-day situations, as opposed to the usual tragedies, Tanya Habjouqa’s collection of images for the BBC tells the Palestinian story through a fresh pair of eyes (watch, runtime: 04:13). “Humour in the Middle East is just prevalent and I think humour is… it allows you into […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 31 July 2019
It’s another quiet morning for Egypt in the foreign press. Among the few headlines worth a quick skim: The IMF isn’t helping when it comes to poverty: Egypt’s increasing poverty rate is a byproduct of steps taken as part of the IMF program, Bloomberg says. Two Somali refugees were arrested in Arizona as they prepared […]
Posted inWorth watching
Cleansing your blood from toxins is a myth
Surprise: All those detox diets are a scam. From detox foot pads to sweating our butts off in steam rooms, needing to cleanse our “toxic” blood is one of the many fads the wellness industry is trying hard to push onto us, but do they work? No, CollegeHumor’s Adam Conover says (watch, runtime: 04:36). Anything […]
Posted inDiplomacy + Foreign Trade
Egypt’s Shoukry holds talks with Greek prime, foreign ministers
Shoukry holds talks with Greek prime, foreign ministers: Foreign Minister Sameh Shoukry discussed cooperation with Greek Prime Minister Kyriakos Mitsotakis and bilateral relations with his Greek counterpart Nikos Dendias. Shoukry praised the Egypt-Greece-Cyprus regional alliance, and discussed with the Greek officials a tripartite summit that Cairo is set to host soon. He also touched on […]