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President Abdel Fattah El Sisi has ratified a bill to increase pensions and salary increases for civil servants by 15% starting 1 July, according to the official gazette. State employees subject to the Civil Service Act will get a periodic raise of 7% and a monthly bonus of EGP 150 starting 1 July. Employees that […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Hisham Ashmawi to be retried on terrorism charges
Special forces officer-turned-terrorist Hisham Ashmawy is facing military trial over five terror attacks, including one in which he was sentenced to death in absentia in 2017, according to the National. Ashmawy is accused of killing a total of 54 people, and engaging in terrorism against the army, police forces, and civilians. Ashmawy was captured in […]
Posted inMy Morning Routine
My Morning Routine: Omar El Fata, CEO of AMECO
My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Omar El Fata (LinkedIn), CEO of AMECO, the oldest and largest single-use syringe manufacturer in the Middle East. […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.6531 | Sell 16.7531 EGP / USD at CIB: Buy 16.64 | Sell 16.74 EGP / USD at NBE: Buy 16.65 | Sell 16.75 EGX30 (Wednesday): 14,006.99 (+1.27%) Turnover: EGP 1.06 bn (50% above the 90-day average) EGX 30 year-to-date: +7.5% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
28-29 June (Friday-Saturday): G20 Global Economic Summit, Osaka, Japan. 30 June (Sunday): June 2013 protests anniversary, national holiday. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 26 June 2019
It’s a big news day with word that the Finance Ministry hopes to hit an agreement with the IMF on a non-loan program by October — and that our friends at CIRA have acquired British Columbia Canadian International School here in Cairo in what could be a harbinger of more M&A in one of the […]
Posted inEnterprise+: Last Night’s Talk Shows
Investment and business lead talk shows on quiet night
Prime Minister Moustafa Madbouly led a business roundtable in Berlin, during which he discussed strengthening commercial ties with blue-chip German investors, cabinet spokesman Nader Saad told Al Hayah Al Youm’s Khaled Abu Bakr (watch, runtime: 07:22). We have more on the ministerial trip to Germany in this morning’s Speed Round, below. The return of Spanish […]
Posted inSpeed Round
Egypt hopes to reach a non-loan program agreement with IMF before October
Egypt is in talks with the IMF for a non-loan program and hopes to reach an agreement by October, Finance Minister Mohamed Maait told Bloomberg TV yesterday (watch, runtime: 4:59). “We started discussing with the IMF, first of all, what are the options Egypt is eligible to and after that we set up a framework […]
Posted inSpeed Round
Egypt’s CIRA to acquire 60% of the UAE’s Starlight Education
M&A WATCH- CIRA to acquire 60% of the UAE’s Starlight Education: Leading private-sector education provider Cairo for Real Estate and Investment (CIRA) is acquiring 60% of UAE-based Starlight Education, which indirectly owns British Columbia Canadian International School (BCCIS) in Shorouk City, CIRA said in a statement (pdf). The transaction will add BCCIS to CIRA’s portfolio […]