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Ebtikar for Financial Investment, a 50-50 joint venture between BPE Partners and MTI, is planning to invest EGP “tens of mns” in TBE Egypt and Payment Solutions (Bee) over the coming period, Ebtikar Chairman Ayman El Dessouky tells Al Mal. Ebtikar acquired 60% of Bee in October 2017 and invested EGP 50 mn in the […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
CI Capital to vote on company rebrand
CI Capital shareholders will vote on 20 March on the investment bank’s rebranding as CI Capital Holding for Financial Investments, it said in a bourse filing (pdf).
Posted inLegislation + Policy
House agrees to gov’t-proposed amendments to FRA regs for non-banking services
The House of Representatives’ general assembly agreed yesterday to government-proposed amendments to the Financial Regulatory Authority (FRA)'s regulations of non-banking financial markets and instruments, Ahram Gate reported. The amendments include scrapping the FRA's right to deposit fine proceeds in a separate account, a move hoped to increase inflows into the state budget.
Posted inEgypt Politics + Economics
Transgender woman subjected to forced examination while in custody, says rights group
The Egyptian Commission for Rights and Freedoms issued yesterday a statement calling for the release of transgender woman Malak El-Kashef, who was arrested last week after calling for protests in the wake of the Ramses train crash. The Cairo-based rights group alleged that El Kashef was subjected to a forced examination that constitutes torture and […]
Posted inEgypt Politics + Economics
Involuntary manslaughter sentences against nine police officers upheld
The Court of Cassation has upheld a seven-year prison sentence handed down to nine police officers for involuntary manslaughter, Ahram Online reports. The officers were sentenced in 2017 by a criminal court after killing four civilians during a 2015 shootout in Tanta during their arrest of an alleged criminal. They will not be able to […]
Posted inON YOUR WAY OUT
The World Wide Web turns 30
The World Wide Web turned 30 yesterday, and its inventor isn’t too happy with its current state. Invented by British scientist Tim Berners-Lee in 1989 while working at the European Organization for Nuclear Research (CERN), the web was originally intended “to meet the demand for automated information-sharing between scientists in universities and institutes around the […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.38 | Sell 17.48 EGP / USD at CIB: Buy 17.38 | Sell 17.48 EGP / USD at NBE: Buy 17.38 | Sell 17.48 EGX30 (Tuesday): 15,140 (+0.3%) Turnover: EGP 1.2 bn (28% above the 90-day average) EGX 30 year-to-date: +16.1% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
11-13 March (Monday-Wednesday): International Conference on Material Science & Engineering Recent Advances and Challenges, Sofitel El Gezirah, Cairo, Egypt. 14-16 March (Thursday-Saturday): Metal & Steel, Egypt International Exhibition Center, Nasr City, Cairo. 14-16 March (Thursday-Saturday): WINDOOREX, Egypt International Exhibition Center, Nasr City, Cairo. 14-16 March (Thursday-Saturday): Egypt Projects, Egypt International Exhibition Center, Nasr City, Cairo. […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 March 2019
It’s a slow news morning, ladies and gentlemen, as we slide into the final days of the week. Better investor appetite saw an Egypt-focused exchange-traded fund get highest inflows since 2014: The VanEck Vectors Egypt Index ETF recorded inflows of USD 11.5 mn in the week ending 8 March, the highest on a weekly basis […]