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**#5 M&A WATCH- TE to acquire additional stake in EISCC for USD 15 mn, gaining full control over MENA Submarine Cable: Telecom Egypt (TE) announced yesterday that its board of directors approved the acquisition of an additional 50% stake in its subsidiary the Egyptian International Submarine Cable Company (EISCC) for USD 15 mn. The move […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Naguib’s Koryolink could repatriate profits from North Korea after reportedly getting sanctions waiver.
**#6 Naguib Sawiris’ Koryolink will reportedly be able to repatriate its profits from North Korea to Egypt now that it’s been cleared by the UN to continue operating in Pyongyang free of sanctions, sources close to the matter tell Al Mal. Sawiris’ Orascom Investment Holding (OIH, previously known as OTMT), which owns 75% of Koryolink, […]
Posted inSpeed Round
The new elementary school curriculum came into effect yesterday on the first day of school
**#7 The new elementary school curriculum came into effect yesterday on the first day of the new school year. The Sisi administration’s new primary education system officially came into effect yesterday as some 60k public schools opened their doors to students for the 2018-19 academic year, Al Masry Al Youm reports. The new system does […]
Posted inSpeed Round
AMF forecast sees Egyptian economy growing 5% in 2018
The Arab Monetary Fund sees the Egyptian economy growing at 5% clip in 2018 and accelerating to 5.5% next year, according to its latest Arab Economic Outlook report (pdf). The report praises economic reforms for driving higher export volumes and making Egypt a top recipient of FDI in the Arab world. On the flipside, high […]
Posted inSpeed Round
Have Qatari agents been hacking Egyptian officials’ emails?
Have Qatari agents been hacking Egyptian officials’ emails? Egyptian officials were reportedly among “hundreds” of victims of cyber attacks by hackers linked to the Qatari government, US lobbyist Elliott Broidy claims, according to the National. Broidy, who has been vocal in advocating against Qatar’s policies, “has accused the Doha government of hacking his accounts, stealing […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
The African Development Bank (AfDB) will reportedly disburse the third and final USD 500 mn tranche of a USD 1.5 bn loan to Egypt “within days.” The E-Commerce Summit in Egypt takes place this Wednesday. The Egyptian-Sudanese ministerial committee will meet at the end of this month ahead of a presidential summit set to be […]
Posted inImage of the Day
Yemen’s Aden port never recovered from the 1967 Israel-Egypt war
Yemen’s Aden port never recovered from the 1967 Egypt-Israel war: Before the war, the port of Aden was booming: “Restaurants were full, and the docks busy. Workers chewed khat, turning their mouths blood red as cargo ships anchored in port, some on their way to Europe. The ancient city had been a bustling hub for […]
Posted inEGYPT IN THE NEWS
Court issues fresh life sentence against Ikhwan leaders, 87 others
An Egyptian court on Sunday sentenced former Ikhwan leader Mohammed Badie and 87 others to life in prison over violence in Minya in 2013, judicial sources told Reuters’ Arabic service. Dozens tried for the same case received sentences ranging from 2-15 years, while 463 others were acquitted, the sources said. Sunday’s verdict, which can be […]
Posted inWorth watching
Women-led car wash service challenges social norms:
Women-led car wash service challenges social norms: The two Egyptian women who decided to breach the male-dominated market of car washes are not just earning their living, but also challenging social norms, according to Africa News. As the owners of Egypt’s first female-led car wash, Mona Kola and Dalia Sweillam, are hoping to grow their […]