Author Archives: enterpriseam admin

**#2 State unveils how it will price stake sales under privatization program: Investment bankers hired to dispose of stakes in already-listed state-owned companies have guidance from cabinet on how to price their offerings. Ministers have approved an indicative pricing scheme that will see shares go to market within 10% of their average price on the […]

** #3 El Sisi met Uber CEO Khosrowshahi: Uber CEO Dara Khosrowshahi discussed the company’s operations in Egypt and investment plans going forward with President Abdel Fattah El Sisi last week on the sidelines of the 73rd UN General Assembly in New York, the company said in a statement (pdf) on Tuesday. Khosrowshahi reiterated plans […]

** #4 Algebra Ventures leads USD 600k Series A round for iCommunity: Mobile real estate platform iCommunity raised USD 600k in Series A funding round led by our friends at Algebra Ventures, according to a statement on Tuesday. iCommunity will use the investment to grow locally and internationally, its CEO Karim Akram said. “The digitization […]

** #5 Trade Ministry unveils outline of local industry development strategy: Trade and Industry Minister Amr Nassar unveiled yesterday a strategy aimed at developing domestic industry and improving the competitiveness of locally manufactured goods, according to a ministry statement (pdf). The program, which hinges on promoting development across the supply chain, will focus on providing […]

CABINET WATCH- Cabinet signs off on E-payments Act: The Madbouly Cabinet signed off yesterday on the final draft of the E-payments Act, which is meant to guide Egypt’s transition to a cashless, paperless economy, according to an official statement. The bill — which the House of Representatives should receive during the current legislative term — […]

LEGISLATION WATCH- An uneventful first day back for House representatives: The House of Representatives’ first day back in session for a fourth legislative term yesterday was uneventful in the extreme as our elected representatives took time to wrap their heads around the idea that summer vacation is over. MPs face a busy agenda that includes […]

UK’s Malicorp files new USD 500 mn arbitration suit against Egypt: UK construction firm Malicorp is planning to file another arbitration case against the Civil Aviation Ministry for USD 500 mn in compensation for terminating an 18-year-old contract to build, operate and manage an airport in Ras Sudr, sources close to the matter told a […]