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** 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 […]
Author Archives: enterpriseam admin
Posted inUp Next
What we’re tracking this week and beyond
The government will announce by mid-November the date of its first auction of ‘unused’ state land, Public Enterprise Minister Hisham Tawfik has said. As many as 10 mn sqm of state-owned land in 10 governorates will be up for sale to developers. Interest rate watch: The central bank’s monetary policy committee meets on Thursday, 15 […]
Posted inEGYPT IN THE NEWS
Salah’s weird statue tops Egypt coverage
Topping coverage of Egypt in the foreign press this morning is an odd-looking statue of Mohamed Salah unveiled on Saturday at the World Youth Forum. Foreign news outlets and tabloids exhausted the list of synonym words for ‘odd’ to describe the monstrosity. Consider it the latest in a wave of unfortunate statues of Cristiano Ronaldo, […]
Posted inOn Deadline
Egypt’s columnists fixated on Minya attack and WYF
The nation’s columnists were squarely focused on Friday’s terror attack in Minya, and the relevance of its coinciding with the World Youth Forum. Al Shorouk’s Emad El Din Hussein maintains that the forum should not have been canceled, as some suggested, saying that this would have lent credence to the terrorists. Al Masry Al Youm’s […]
Posted inWorth watching
Mitigating climate change through cutting food consumption
Cutting food consumption can solve climate change: The Climate, Land, Ambition, and Rights Alliance (CLARA) is suggesting we start targeting the USD multi-tn food industry to stop temperatures from rising more than 1.5°C. Breeding animals for food is responsible for c. 14.5% of gas emissions, so we should eat significantly much less meat and limit […]
Posted inReal Estate + Housing
Porto Group signs agreement to co-develop Porto City with El Mostakbal
Porto Group has signed an agreement with El Mostakbal for Urban Development to co-develop a mixed-use project, Porto City, in Mostakbal City. The new development is expected to offer residential and recreational facilities. No details on the investment value or timeline were provided.
Posted inReal Estate + Housing
Decision to grant Egyptian residency to foreign homebuyers will not be applied retroactively
The Housing Ministry’s recent decision to grant residency to non-Egyptian homebuyers will not be applied retroactively, deputy minister Khaled Abbas said, according to Al Mal. Foreigners who have bought and paid for homes in full prior to the issuance of the decision will not be eligible for residency under the program. Buyers of finished homes […]
Posted inTourism
Luxor receives first charter flight from Frankfurt
Luxor International Airport saw the arrival of its first charter flight from Frankfurt Airport yesterday, Al Shorouk reports. The plane landed with 162 tourists onboard.
Posted inOther Business News of Note
IDA to re-tender land plots seized from 1,000 factories project investors
The Industrial Development Authority (IDA) is set to re-tender 15 land plots seized from investors in the New Cairo 1,000 factories project, IDA sources tell Al Mal. The authority has reportedly withdrawn land from 600 factories investors after failing to meet several consecutive deadlines to begin construction or production, according to the sources. Under IDA […]
Posted inSports
Egyptian weightlifter Mohamed Ihab breaks world record in men’s 81 kg category
Egyptian weightlifter Mohamed Ihab broke the world record for the highest weight lifted in the men's 81 kg category at the World Championship in Turkmenistan, according to Ahram Online. Ihab’s lifting of 173 kg — 3 kg heavier than the previous world record — earned him a gold medal in the snatch event. Separately, the […]