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MOVES- First Abu Dhabi Bank (FAB) has appointed Moataz Khalil (LinkedIn) as the CEO, replacing Ahmed Ismail, who has been made the country manager for Egypt at Arab Bank, Al Mal reports. Khalil is currently the managing director and head of corporate and investment banking.
Author Archives: enterpriseam admin
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
‘Photographs of Films’ series turns well-known films into art
‘Photographs of Films’ series turns well-known films into art: Photographer Jason Shulman captures beautiful images by making an ultra-long exposure of films as they play all the way through. From this picture of the 1951 Alice in Wonderland to ‘moody monochrome’ Dr. Strangelove, Shulman’s images depict the feel of each film in a single image, […]
Posted inEGYPT IN THE NEWS
A quiet day in the foreign press for Egypt
Despite being a busy news day at home, it’s all quiet on the foreign press front for Egypt this morning.
Posted inWorth watching
A deep dive into ancient Nubia
A deep dive into ancient Nubia: The ancient royal burial site of Nuri holds the secrets of many Nubian pharaohs, but with rising water levels impeding entry to the tombs, exploring them requires the skills of underwater archaeologists like Pearce Paul Creasman. This BBC video (watch, runtime: 01:47) follows him diving into the tombs to […]
Posted inDiplomacy + Foreign Trade
El Sisi talks Egypt-US cooperation on Africa with AmCham VP Myron Brilliant
President Abdel Fattah El Sisi discussed yesterday tripartite cooperation between the US, Egypt, and the remainder of Africa with a focus on the digital, healthcare, and energy sectors with AmCham Executive Vice President Myron Brilliant, according to an Ittihadiya statement. Brilliant also talked boosting economic and trade cooperation with Foreign Minister Sameh Shoukry.
Posted inTelecoms + ICT
Gov’t offers 250 feddan to the private sector in Egypt’s planned Knowledge City
The CIT Ministry is offering 250 feddans to private investors in the new capital’s knowledge city, which is planned to house headquarters of tech majors operating in Egypt, reports Youm7. The city is set to be built on 301 feddans, with initial investments valued at EGP 6 bn, we noted last year.
Posted inBanking + Finance
Raya’s microfinance arm Aman in negotiations eyes EGP 500 mn in loans from five banks
Raya Holding’s microfinance subsidiary Aman is seeking to borrow EGP 500 mn from CIB, Suez Canal Bank, Attijariwafa Bank, Blom Bank Egypt, and United Bank, Chief Financial Officer Ayman Bassiouny told Mubasher. The company hopes to borrow EGP 100 mn from each bank, having already obtained EGP 500 mn in loans from seven banks in […]
Posted inBanking + Finance
Ostoul obtains primary dealer license from FRA for EGP-denominated securities
Ostoul Securities Brokerage has obtained a license from the Financial Regulatory Authority to begin in August operating as a primary dealer for EGP-denominated government debt investors, CEO Mohamed Lotfy tells Al Mal. The move to obtain the license is part of the firm’s expansion plan, which will see it apply for a short selling license […]
Posted inOther Business News of Note
Egypt’s administrative court turns down gov’t appeal to bring back iron tariffs
The administrative court has turned down the Trade Ministry’s appeal to bring back the 15% import duty on iron billets, which it lodged after twenty-one iron factories won a case at the court reversing the ministry’s decision to impose the duties, according to Al Mal. The companies halted operations last week in response to the […]