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FinMin looking to narrow Egypt’s financing gap to EGP 720 bn next fiscal year -Kouchouk: The Finance Ministry is working to trim EGP 100 bn off Egypt’s forecasted budget deficit in FY2019-2020 to EGP 720 bn, Vice Minister of Finance Ahmed Kouchouk tells Al Shorouk. According to Kouchouk, the ministry is looking to extend the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
The Central Bank of Egypt wants to incentivize banks’ investments in equity for SMEs
Bank investments in SME-focused equity funds now count toward minimum small business loan requirement: The Central Bank of Egypt (CBE) agreed yesterday to allow banks to count their own equity investments in SME-focused funds as part of the mandatory minimum portion of their loan portfolios they are required to allocate to SMEs, according to a […]
Posted inSpeed Round
Egyptian gov’t selects OC-led consortium for 6 October-new capital monorail tender
Gov’t taps OC-led consortium to enter talks on 6 October-new capital monorail -report: A consortium of Orascom Construction, Arab Contractors and Canada’s Bombardier has been selected to enter negotiations on the construction of the 6 October-new capital monorail, Al Masry Al Youm reports, citing unnamed sources. The government could still consider offers from the second […]
Posted inSpeed Round
Beltone’s management agrees with Orascom to leave in October
Beltone Financial and Orascom Investment Holding have decided against renewing a management services agreement between the two companies after its expiry this October,Beltone said in a bourse filing (pdf). Beltone’s Chairman Sameh El Torgoman and Managing Director Bassem Azab will accordingly resign their positions, according to the statement.
Posted inSpeed Round
** WE’RE HIRING: We’re looking for a great journalist to join our team. We’re particularly interested in someone with the right mix of print, audio and / or video skills + great English and the ability to read and speak Arabic at a native-speaker level. Interested? Send your CV along with 2-3 writing samples and […]
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
Pharaoh Khufu’s ship features as Google Doodle
The 4,600-year-old ship buried in the Great Pyramid of Giza with the pharaoh Khufu was celebrated in a Google Doodleyesterday making the 65th anniversary of its discovery.
Posted inEGYPT IN THE NEWS
Egypt in the news on 27 May 2019
It’s an exceptionally slow news day for Egypt in the international press amid a bank holiday in the UK and Memorial Day weekend in the United States. Dominating the (very quiet) conversation are pickups of wire reports that the assets of Mubarak-era Interior Minister Habib El Adly have been unfrozen. Elsewhere, Egypt’s influence on Gaza’s […]
Posted inWorth watching
Netflix vs. the world: The battle is on for streaming supremacy
Netflix versus the world: Netflix may be the go-to source for films and TV shows for 149 mn people worldwide, but competitors are lining up to change that, this video from the Wall Street Journal explains (watch, runtime: 04:48). Along with existing rivals Amazon, Hulu and Apple, new rivals Comcast, AT&T and Disney are all […]
Posted inDiplomacy + Foreign Trade
Electrostar in talks for more export contracts in Africa
Home appliance manufacturer Electrostar is looking to grow its business 20% this year, in large part through increased exports to Africa, Managing Director Khaled El Menoufy tells Al Shorouk.