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In a world where investors are bucking African stocks for African debt, Egypt shines at both: With Egypt’s GDP growing at 5.6% in FY2018-19, the country is bucking the “anemic” economic growth witnessed by African peers, giving it a clear advantage as far as equity traders are concerned. South Africa’s output contracted the most in […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Mystery’ UAE fund to invest up to USD 90 mn in Suez Canal logistics project
INVESTMENT WATCH- ‘Mystery’ UAE fund to invest up to USD 90 mn in Suez Canal logistics project: An as of yet unnamed UAE-based fund is planning to invest USD 70-90 mn on a logistics project in the Suez Canal, said Walid Hegazy, founding partner at Hegazy and Partners, which were hired to advise on the […]
Posted inSpeed Round
EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas
EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas: The EU is planning to provide Egypt with EUR 20 mn in funding for its natural gas sector, according to statements by the EU delegation’s head in Egypt Ivan Surkos picked up by Al Mal. The funding would be […]
Posted inSpeed Round
ITFC to provide USD 50 mn in loans to Egyptian SMEs in 2020
ITFC to provide USD 50 mn in SME loans in 2020: The Islamic Trade Finance Corporation (ITFC) will channel a USD 50 mn facility through local banks to finance SMEs in January 2020, CEO Hani Sonbol told Masrawy, without revealing which banks the ITFC will be working with. This will be the first time the […]
Posted inSpeed Round
Egypt’s Oil Ministry taps Mohamed Radwan as EGPC co-head
MOVES- Oil Minister Tarek El Molla has tapped Mohamed Radwan (LinkedIn) as co-head of the Egyptian General Petroleum Corporation (EGPC), according to Al Masry Al Youm. Radwan was formerly assistant general manager at Apache and EGPC JV Khalda Petroleum Company.
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
Nine of Egypt’s most beautiful vintage hotels
We’re no fans of colonialism, but there’s no denying the grandeur, beauty, and sense of history offered by Egypt’s oldest hotels, originally designed as “virtual palaces that catered to the whims and fancies of Victorian-era travelers.” Pictured here is the beautiful indoor swimming pool of the Old Cataract in Aswan, one of Egypt’s most opulent […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 21 July 2019
The foreign press is squarely focused on British Airways and Lufthansa’s suspension of flights to Cairo. We have the full story in this morning’s Speed Round, above. Other headlines worth noting in brief include: Pharaoh Tutankhamun’s coffin is set to be renovated for the first time its discovery in the 1920s, CNN notes. The Trump […]
Posted inDiplomacy + Foreign Trade
Egypt, Jordan to set up logistics center in Mafraq, bordering Iraq and Syria
Egypt, Jordan to set up logistics center in Mafraq: The Egyptian and Jordanian chambers of commerce will establish a logistics center in Jordan’s Mafraq Governorate bordering Iraq and Syria, Federation of Egyptian Chambers of Commerce head Ahmed El Wakeel said. The center will comprise storage facilities and a zone for customs clearance and will be […]
Posted inDiplomacy + Foreign Trade
Rome to host Egypt-focused investment conference
Rome conference to showcase Egyptian investment landscape: Rome will host an investment conference on Egypt soon to introduce Italian companies to prospects in the country, Al Masry Al Youm reported. The announcement came following a meeting between Internal Trade Development Authority head Ibrahim Ashmawy and a delegation from the Italian Confederation for Economic Development, headed […]