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Sarwa Capital acquires licenses for life and non-life insurance products: Consumer- and structured-finance player Sarwa Capital Holding has acquired licenses from the Financial Regulatory Authority (FRA) to begin offering life and non-life insurance policies, the company announced in a statement (pdf). The company will provide insurance through two separate entities: Sarwa Insurance Company will offer […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Emaar vs. El Nasr set to wrap up for good
BEEF WATCH- Emaar vs. El Nasr beef looks set to wrap up for good: Emaar Misr and El Nasr Housing will sign next week the final contracts to resolve their two-year-old dispute over a land plot and delays in Emaar’s Uptown Cairo project, Public Enterprises Minister Hisham Tawfik said, according to Al Mal. The two […]
Posted inSpeed Round
Online fashion store Namshi coming to Egypt
Online fashion store Namshi is coming to town: Dubai’s Emaar Malls’ recently acquired e-commerce fashion platform Namshi is eyeing expanding into Egypt, CEO Hosam Arab told Wamda. The GCC-based giant — with its collection of well-known brands such as Nike, Calvin Klein, Adidasm and Forever 21 — is hoping 10% of Egyptians buy their clothes […]
Posted inSpeed Round
Hala El-Mohandes appointed deputy CEO of project and export finance at Carbon Holdings
MOVES- Our friends at Carbon Holdings have tapped Hala El-Mohandes (LinkedIn) as deputy CEO of project and export finance, according to an emailed statement (pdf). El-Mohandes “will lead on securing appropriate, sustainable funding streams for Carbon Holdings as it works to fulfill its strategy to become one of the world’s leading integrated petrochemical producers.” Prior […]
Posted inSpeed Round
Earnings watch: Emaar, MM Group, GTH, Oriental Weavers
EARNINGS WATCH- Global Telecom Holding returned to profit in 4Q2018, reporting a net profit of USD 98 mn compared to a loss of USD 136 mn during the comparable period a year earlier, the company said in a statement on its website (pdf). Revenues fell 3% year-on-year to USD 702 mn. The return to profit […]
Posted inSpeed Round
Topline tax for Egypt’s zone companies to apply only to new projects:
Topline tax for zone investors to apply only to new projects: The Investment Ministry’s dispute resolution unit has decided to exempt already existing freezone companies from the fees and levies imposed on their toplines in 2017, Baker McKenzie’s Mohamed Ghannam said. ِِِA 2% fee on all goods sold in Egypt out of the zones, a […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
EBRD to present report on new labor market trends: European Bank for Reconstruction and Development Managing Director for the Southern and Eastern Mediterranean Janet Heckman will chair a panel discussion on Tuesday to present the findings of a report on the impact of modern trends on the labor markets of Egypt and developing nations, according […]
Posted inTHE MACRO PICTURE
Increasing women’s involvement in the economy a top national priority, says World Bank
Enabling women’s participation in Egypt’s economy is an “urgent priority on the national agenda,” the World Bank has said. The international lender says in a report on female economic empowerment that sustained economic growth necessitates an inclusive labor market, and with a female labor participation rate at 23.1%, women remain “an untapped resource” in Egypt’s […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 4 March 2019
Al Azhar Grand Imam Ahmed Al Tayeb’s statement on polygamy being “an injustice for women and children” is making headlines in the international press this morning. Speaking during his weekly TV program, Al Tayeb said that the widespread acceptance and legality of the practice in the Arab world is based on a “lack of understand […]