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**#4 EXCLUSIVE- JWT is off Egypt’s tourism account next week: The government does not intend to renew its contract with JWT to promote tourism in Egypt, which set to expire on Monday, 17 September, a government source told Enterprise. The Tourism Promotion Authority (TPA) will instead sign a contract with Egyptian Media Group subsidiary Synergy. […]
Author Archives: enterpriseam admin
Posted inSpeed Round
CIRA to acquire additional 24% stake in Al Saeed Education Services
**#5 M&A WATCH- CIRA to acquire additional 24% stake in Al Saeed Education Services: Leading private sector education provider Cairo Investment and Real Estate Development (CIRA) announced yesterday that it intends to acquire an additional 24% stake in its subsidiary Al Saeed Education Services for EGP 10 mn, according to a filing to the EGX […]
Posted inSpeed Round
Egyptian, regional investors launch EGP 200 mn international school
**#6 INVESTMENT WATCH- Egyptian, regional investors launch EGP 200 mn international school: UAE-based education services outfit Africa Crest Education (ACE) has signed the final contracts with Capital Group Properties to begin building a EGP 200 mn branch of the international school Cadmus within its integrated development Alburouj. For the project, ACE, which will own 35% […]
Posted inSpeed Round
Debt control strategy high on Madbouly Cabinet’s agenda
CABINET WATCH- The Madbouly Cabinet discussed the Finance Ministry’s proposed debt control strategy at its weekly meeting yesterday, according to a Cabinet statement. The statement did not delve into specifics on the plan or announce a timeline for it except to say that it is currently being finalized and will be out soon. The meeting […]
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Ocean Alliance launches new service, to include CGM Uruguay
Ocean Alliance moves ports on better fees: Ocean Alliance has launched a new service through the West Port Said Port, Suez Canal Authority boss Mohab Mamish said yesterday, Al Mal reports. The new service line will see the group — which includes CMA CGM Group, APL, Evergreen, and China’s COSCO Shipping — launch 10 new […]
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Citi’s Soussa moves to Goldman Sachs
MOVES- Citi chief Middle East economist Farouk Soussa (Linkedin) has jumped ship to Goldman Sachs, where he is now MENA economist. Soussa joined Citi in 2010 from Standard & Poor’s.
Posted inSpeed Round
Did state news agency MENA’s website get hacked by Turkey?
**#7 Did state news agency MENA’s website get hacked by Turkey? A Turkish group reportedly hacked the website of Egypt’s state news agency MENA on Tuesday in protest of death sentences handed down to 75 people over the 2013 Rabaa Adawiya sit-in, Anadolu Agency reports. The hackers reportedly posted on MENA’s landing page a picture […]
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CORRECTION- In our piece yesterday about overhead transmission lines at MNHD’s Taj City, we incorrectly reported that the lines were being installed by a military-run company. The lines are in fact being buried outside Taj City’s parameter and the work will take 4-6 months to complete. We apologize for the error and have corrected the […]
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Enterprise is hiring
** WE’RE HIRING: We’re looking for smart, talented, and seasoned journalists and editors to join our team at Enterprise, which produces the newsletter you’re reading right now. We’re looking for people who can work on this product and help us launch exciting new stuff. Applicants should have serious English-language writing chops, a strong interest — […]
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