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The explicit video taken atop a Giza Pyramid topped headlines in the foreign press yesterday, with outlets such as Sky News, NBC News, and Fortune all covering the story. In case you didn’t catch it yesterday, two Danes filmed themselves in the act atop the Khufu Pyramid, sparking outrage throughout the country. Also making headlines […]
Author Archives: enterpriseam admin
Posted inON THE FRONT PAGES
Egypt’s “leading role” in Africa’s development is the running theme in the country’s newspapers
Egypt taking on a leading role in the development of Africa is the running theme in the country’s three main state-owned newspapers. Al Ahram, Al Akhbar, and Al Gomhuria each run with different takes on President Abdel Fattah El Sisi’s development-focused speech at the Africa 2018 Forum yesterday. Al Ahram also features other highlights from […]
Posted inWorth watching
What exactly is CBD anyway?
What exactly is CBD anyway? Consumer products of cannabidiol (CBD) are expected to reach USD 1 bn by 2020. But according to Vox, we don’t know all that much about this compound found in cannabis. CBD is non-psychoactive, meaning that it won’t get you high. Currently used to treat a variety of medical conditions, CBD […]
Posted inManufacturing
Germany’s Trox launches Egypt facility
Germany’s Trox, a manufacturer of air conditioning unit components, launched a production facility in Egypt earlier this month, it said in a statement. “By establishing a factory in Egypt, we acknowledge that the Middle East is a very important market for us,” Trox’s Managing Director Matthias Kasprowicz told MEP Middle East.
Posted inBanking + Finance
Banque Misr expects AfreximBank to agree USD 550 mn loan soon
Banque Misr will sign an agreement to borrow USD 550 mn from the African Export-Import Bank (AfreximBank) “within weeks,” Banque Misr Chairman Mohamed El Etreby tells Al Mal. Vice Chairman Akef El Maghraby had said last month that the bank was seeking a loan of the same amount “to improve USD liquidity” amid speculation that […]
Posted inBanking + Finance
New tax treatment won’t affect ADIB’s 2018 financial results
Abu Dhabi Islamic Bank’s 2018 financial results will not be affected by proposed amendments to the tax treatment of bank income from government debt, the bank said in an EGX disclosure (pdf). The bank expects, however, a decline of up to 8% in its 2019 profits. CIB and QNB had also said last week that […]
Posted inOther Business News of Note
Egyptian Resorts Company sees rise in sales for new Sahl Hasheesh project
The Egyptian Resorts Company (ERC)’s Bay Village has seen a surge in demand since its launch in October, according to a press release (pdf). Bay Village has so far made EGP 79.6 mn from contracted sales and reservations and expects to generate EGP 390 mn in revenues for ERC. “Sale activity in recent months has […]
Posted inEgypt Politics + Economics
Egypt’s ACA rolls-up int’l human trafficking ring
The Administrative Control Authority (ACA) has arrested a group of 20 Egyptians and foreigners who are accused of being involved in an international human trafficking ring, according to Egypt Today. The defendants are being charged with forcing women to perform “immoral acts” and importing outlawed substances from Turkey. The ACA also says its investigation found […]
Posted inNational Security
Egypt hosts joint anti-terror military drills with African countries
The Armed Forces hosted for the first time yesterday joint anti-terror military exercises with African states, it said in a statement. The drills, which included Sudan, Nigeria and Burkina Faso, aim to enhance security and stability in Africa and confront the threats of terrorism.
Posted inSports
Karim Abdel Gawad wins 2018 CIB Black Ball Squash Open Champion title
Egyptian squash champion Karim Abdel Gawad took the 2018 CIB Black Ball Squash Open title after defeating Ali Farag in a final match on Sunday, PSA World Tour reports. The tournament is the first major competition to take place in Egypt since the men’s 2016 PSA World Championships, which Gawad also won.