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Majid Al-Futtaim Group (MAF) is planning to invest EGP 700 mn in Egypt this year to open 20 new Carrefour outlets, Carrefour Egypt Country Manager Jean Luc Montague told reporters on Thursday, according to the local press. Executive Regional Manager Herve Majidier had previously said MAF will invest USD 500 mn in Egypt this year.
Author Archives: enterpriseam admin
Posted inLegislation + Policy
Board of directors for Egyptian sovereign wealth fund to be decided next month
The board of directors for the Egyptian sovereign wealth fund will be decided early next monthafter the fund’s CEO has been selected, according to statements from Planning Minister Hala Said cited by the local press. Four candidates are currently under consideration for the chief executive role, with three of the four residing outside Egypt.
Posted inEgypt Politics + Economics
Court acquits Zuhair Garana of corruption charges
The Cairo Criminal Court acquitted former Mubarak-era Tourism Minister Zuhair Garana of corruption charges on Wednesday, Al Masry Al Youm reports. The charges, which included granting illegal licenses to tourism companies and making illicit earnings, were leveled against him in a case dating back to 2011. Garana was also acquitted in 2017 of two other […]
Posted inEgypt Politics + Economics
Egyptian UN peacekeeper killed by roadside bomb in Mali
An Egyptian UN peacekeeper was killed in Mali last week after an improvised landmine hit a convoy traveling through the country’s central region, according to a UN statement. UN Secretary-General Antonio Guterres said the bombing may constitute a war crime and called on the Malian government to bring those responsible to justice.
Posted inON YOUR WAY OUT
Eating for good health in Egypt: A national challenge
Shocker: Unhealthy eating habits are finally catching up with us: A poor quality diet is contributing to stunted growth in children and obesity among mothers in Egypt, academics and UNICEF specialists say, according to All Africa. Malnutrition represents 35% of the disease burden for children under five, but the problem is an increased reliance on […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.14 | Sell 17.24 EGP / USD at CIB: Buy 17.14 | Sell 17.24 EGP / USD at NBE: Buy 17.15 | Sell 17.25 EGX30 (Thursday): 14,876 (+0.1%) Turnover: EGP 700 mn (18% below the 90-day average) EGX 30 year-to-date: +14.1% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
21 April (Sunday): A court will look into a lawsuit by a subsidiary of Arabian Investments, Development and Financial Investment Holding Co. (AIND) against Peugeot Citroen. The lawsuit, seeking EUR 150 mn in damages, was postponed from 17 March. 21 April (Sunday): RT Imaging Summit & Expo-EMEA, InterContinental City Stars, Nasr City, Cairo, Egypt. 21-22 […]
Posted inWhat We're Tracking Today
What we’re tracking on 18 April 2019.
Look for purple fingers this weekend as we head to the polls to vote on the proposed constitutional amendments. Polls open on Saturday, 20 April and will close in the evening on Monday. Expats start voting tomorrow, with polls closing on Sunday. You can read the statement by the National Elections Authority here. An Egyptian […]