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The CBE is embracing fintech: The Central Bank of Egypt is planning to set up an EGP 1 bn fund to back fintech startups, CBE sub-governor for payment systems and business technology Ayman Hussein said earlier this week. The fund is part of the CBE’s strategy to promote fintech, which will also see a fintech […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt to collect taxes under new banking treatment quarterly, not monthly
EXCLUSIVE- Gov’t to collect taxes from new banking tax treatment quarterly, not monthly? The government will likely collect taxes from banks on their holdings of government debt under the recently-passed new treatment on a quarterly, rather than monthly, basis, a senior government official tells Enterprise. The new treatment, which was introduced through amendments to the […]
Posted inSpeed Round
Cabinet Economic Group reviews Egypt’s preliminary FY2019-20 state budget
The Cabinet economic group met yesterday to review a preliminary draft of the FY2019-20 state budget, according to a Cabinet statement. The budget forecasts GDP growing at a 6% clip next year, according to Planning Minister Hala El Said. Finance Minister Mohamed Maait had said the day before that GDP growth would come in at […]
Posted inSpeed Round
Egypt’s oil and gas blocks represent an intrusion into Sudanese territory, says Khartoum
Sudan grumbling about Halayeb oil exploration blocks: Oil and gas blocks in the Red Sea’s Halayeb offered by Egypt for sale through a tender on March 10 represent a direct intrusion into Sudanese territory, Saad al-Deen Hussein al-Bishri, minister of state at Khartoum's oil ministry, told Sudan’s state news agency on Wednesday. Reuters reports that […]
Posted inSpeed Round
Raya Holding reports FY2018 earnings, names Ahmed Hassan and Hossam Hussein as IR managers
EARNINGS WATCH- Raya Holding reported a net profit of EGP 89.1 mn in 2018, down from EGP 103.2 last year, according to its earnings release (pdf). Revenues for the year were up to EGP 7.9 bn from EGP 6.7 bn in 2017. The company also announced it has set up non-banking financial services and securitization […]
Posted inSpeed Round
Cairo is the 12th most “forgetful” city in the world, according to Uber
Cairo is the 12th most “forgetful” city in the world, and Egyptian Uber customers were the most forgetful on 31 January, the ride-hailing company says in its annual Lost & Found index (pdf). Cairo’s spot in the index makes its population slightly less prone to forgetting personal belongings in their Ubers than commuters in Pakistan’s […]
Posted inSpeed Round
Regional news on 21 March 2019
It may be a relatively slow news day here at home, but there’s plenty happening in regional politics this morning: Is the FLN about to bail on Bouteflika? Key allies of ailing Algerian President Abdelaziz Bouteflika are beginning to distance themselves as protesters continue to demand his resignation, Bloomberg reports. The US wants us all […]
Posted inWorth watching
Americans and Egyptians swap snacks
Imagine sharing some Mandolin with your khawaga friends: The internet serves up all kinds of weird and wonderful content, but for the heartwarming experience of watching people swap childhood snacks from different cultures, look no further than this video from Buzzfeed Tasty. Chipsy, Bimbo, El Shamadan – this video is basically a bunch of Americans […]
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
Google celebrates Egyptian poet Gamila El Alaily’s 112th birthday
Google celebrated the 112th birthday of pioneering Egyptian poet Gamila El Alaily with a Google Doodle yesterday. The only female member of the elite Apollo Society, El Alaily’s volumes of poetry, essays in literary magazine Apollo, and monthly columns covering everything from ethics to women’s role in society made her a groundbreaking literary and feminist […]