Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Spain’s Iberia Airlines will begin operating four direct flights a week between Madrid and Cairo from 2 March, 2020, the company said in a statement.
Author Archives: enterpriseam admin
Posted inBanking + Finance
Aman in talks with four banks to increase credit portfolio to EGP 700 mn
Raya Holding’s microfinance arm Aman is in talks with four banks to increase its credit portfolio to EGP 700 mn by the end of 2019, up from EGP 445 mn, head of microfinance Ahmed El Khatib said, according to Al Mal. The company said last month it intended to increase its portfolio to about EGP […]
Posted inOther Business News of Note
Edita to break ground on USD 20 mn Morocco production facility this month
Edita Food Industries will begin constructing its USD 20 mn snack food production facility in Morocco before the beginning of August, Al Mal reports. The plant will be built in collaboration with Morocco’s Dislog Group, and is expected to begin production in 1Q2020. The project was first announced back in March 2018, and was originally […]
Posted inSports
Turki Al-Sheikh sells Pyramids FC to Salem Al-Shamsi
Emirati investor Salem Al-Shamsi has formally acquired Egypt’s Pyramids FC from Saudi General Entertainment Authority chairman Turki Al-Sheikh, the club announced last week. Al-Sheikh had said in February that he had sold the club to Al Shamsi, before changing his mind, Ahram Online reports. Pyramids FC, formerly called Al-Assiouty, stands at second place in the […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.54 | Sell 16.67 EGP / USD at CIB: Buy 16.55 | Sell 16.65 EGP / USD at NBE: Buy 16.58 | Sell 16.68 EGX30 (Thursday): 13,997.40 (-0.99%) Turnover: EGP 723 mn (3% above the 90-day average) EGX 30 year-to-date: +7.4% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
July: Customs officials from Egypt and the US will sit down to discuss “procedural and administrative matters” as part of the Trade and Investment Framework Agreements (TIFA). July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through an agreement with the European Bank for […]
Posted inWhat We're Tracking Today
What we’re tracking on 4 July 2019
Good morning, friends, and welcome to the last day of the week. May we start off by saying we are very happy that we are just hours away from enjoying the calm that will take over Cairo thanks to the weekly exodus to Sahel? Our elected representatives may not be as happy, as an extended […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s talking heads discuss funding for social safety; Facebook, Instagram, WhatsApp glitches
The nation’s talking heads didn’t have much to keep them occupied last night beyond the World Bank’s recent approval of a USD 500 mn financing package for Egypt’s social safety net and yesterday’s disruption of Facebook, WhatsApp, and Instagram. Funding for social safety: Al Hayah Al Youm’s Khaled Abu Bakr highlighted the World Bank’s recent […]
Posted inSpeed Round
Non-oil business activity continues to contract in June
Non-oil business activity continues to contract in June: Falling demand caused non-oil business activity to contract for the second consecutive month in June, according to the Markit / Emirates NBD PMI gauge (pdf). The latest purchasing managers’ index rose slightly to 49.2 last month from 48.2 in May, indicating a “softer deterioration in business conditions,” […]