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REGULATION WATCH- Cabinet amends Capital Markets Act regs on real estate funds: Prime Minister Moustafa Madbouly has issued a decree amending the executive regulations of the Capital Markets Act governing real estate funds, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). What are the amendments all about? The amendments stipulate that […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Earnings watch: Palm Hills, Orascom Investment Holding
EARNINGS WATCH- Palm Hills Development (PHD) reported a 37% y-o-y drop in 1Q2019 net profit to EGP 141.2 mn, down from EGP 224.2 mn a year earlier, according to the company’s earnings release (pdf). Revenues for the quarter fell 35% y-o-y to EGP 958.1 mn. The company’s board announced on Monday (pdf) that it has […]
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented journalists and analysts to join our team and help us make both the product you’re reading now and some exciting new stuff. We’re particularly interested people with writing plus either audio or video skills. Interested? Send your CV along with 2-3 writing samples and a solid cover […]
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 inEGYPT IN THE NEWS
Egypt in the News on 12 June 2019.
Leading the conversation again this morning: Egypt’s attempts to prevent Christie’s from auctioning a 3,000 year-old bust of Tutankhamun (which authorities believe was illegally taken from Karnak Temple). Wire coverage in the Associated Press is being widely picked up in the western press, including in Bloomberg, the New York Times and the Washington Post. Bloomberg […]
Posted inON THE FRONT PAGES
El Sisi’s meeting with USCENTCOM commander tops the front pages
El Sisi’s meeting with USCENTCOM commander tops the front pages: President Abdel Fattah El Sisi’s meeting with commander of the US Central Command (USCENTCOM)Kenneth Mackenzie topped the front pages of all three government dailies this morning (Al Ahram | Al Akhbar | Al Gomhuria). Mackenzie praised the strong military ties between the two countries and […]
Posted inWorth watching
The robots are watching, but can they catch rogue traders?
The robots are watching, but can they catch rogue traders? Banks are increasingly using AI to flag the warning signs of rogue trading, in the hope of saving bns and avoiding public embarrassment, this FT video shows (watch, runtime: 01:37). Programs that monitor behavior (like when traders use their computers and how they phrase their […]
Posted inDiplomacy + Foreign Trade
Libya oil chief accuses Egypt, UAE of buying oil from Haftar at below market prices
Libya oil czar accuses Egypt, UAE of buying oil from Haftar at below market prices: The chairman of Libya’s state-owned National Oil Corporation (NOC), Mustafa Sanalla, has accused Egyptian and UAE-based companies of purchasing oil from fields controlled by General Khalifa Haftar’s forces in the east at below-market prices, according to The Libyan Observer. Sanalla […]
Posted inDiplomacy + Foreign Trade
Gov’t joins forces with private sector to set up firm to boost trade with Africa
The Public Enterprises Ministry is partnering up with private sector investors to establish an export trading firm in Africa as well as to launch new shipping lines and logistics hubs, Al Mal cited Minister Hisham Tawfik as saying. The ministry has begun implementing the initiative through its Holding Company for Maritime and Land Transport and […]
Posted inEnergy
Scatec Solar starts commercial operations on third part of its 400 MW Benban solar project
Scatec Solar has launched commercial operations on the third of six planned 65 MW photovoltaic installations that it is constructing in Egypt’s 1.8 GW Benban solar park, Renewables Now reports. This comes just a week after the Norwegian company announced that commercial operations on the second plant had been launched. When finalized, the six plants […]