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INVESTMENT WATCH- UAE’s Alcazar Energy looking to snag USD 500 mn in wind projects: UAE-based renewables energy firm Alcazar Energy is currently bidding on USD 500 mn-worth of wind projects with a combined generating capacity of 500 MW, Electricity Ministry sources tell Al Masdar. According to the offer presented to the ministry, the wind farms […]
Author Archives: enterpriseam admin
Posted inSpeed Round
GAFI issues new guidelines for voluntary liquidation of companies
**#8 REGULATION WATCH- GAFI issues new guidelines for voluntary liquidation of companies: The General Authority for Freezones and Investment (GAFI) issued on Thursday new guidelines for companies looking to voluntarily liquidate, Al Mal reports. Companies looking to liquidate must present GAFI with an official memo indicating the liquidation has been approved by its owner, partners, […]
Posted inSpeed Round
CBE completes draft of new e-payments act
LEGISLATION WATCH- CBE completes draft of new e-payments act: The CBE has completed a draft of a new e-payments act and presented it at a meeting of the National Payments Council on Saturday, according to a statement from Ittihadiya. No details were provided on the specifics of the bill. The Council will send the draft […]
Posted inSpeed Round
SecState signs off on USD 1.2 bn military assistance package to Egypt as Bright Star war games start
**#9 US signs off on USD 1.2 bn military assistance package to Egypt: US State Secretary Mike Pompeo signed off on the release of a USD 1.2 bn military aid package to Egypt on Friday, the Associated Press reports. Pompeo signed “national security waivers allowing the money known as foreign military financing, or FMF, to […]
Posted inSpeed Round
Tourist arrivals to Egypt rise 51.1% y-o-y in 2017 : UNWTO report
Egypt is region’s fastest-growing tourism destination –UN World Tourism Organization. Tourist arrivals to Egypt rose 51.1% y-o-y in 2017 reaching 8.5 mn, up from 5.2 mn a year earlier to make Omm El Donia the Middle East’s fastest-growing tourist destination, according to the United Nations World Tourism Organization (UNWTO) 2018 Tourism Highlights Report. “Visitor numbers […]
Posted inSpeed Round
Maridive reports jump in bottom line to USD 17.09 mn in 1H2018
EARNINGS WATCH- Oil services outfit Maridive Group reported a net profit of USD 17.09 mn in 1H2018, up from USD 11.02 mn in 1H2017, according to a filing to the EGX.
Posted inSpeed Round
CIB facilities for Wealth customers
When it comes to planning your future and personal finances, CIB has your needs in mind. Before tying yourself to a loan to secure your future and that of your family, choosing the right financing options that cater to your needs is the most important part of the process. Knowing that not all loans are […]
Posted inUncategorized
** 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 […]
Posted inImage of the Day
Mercedes to begin producing electric vehicles
Mercedes will begin producing its EQC electric car in 1H2019, according to Bloomberg. The company invested north of EUR 10 bn (USD 12 bn) to come up with the vehicle, which is set to be first in Mercedes’ new electric-powered EQ Series. Porsche, Audi, and Jaguar all plan to roll out electric SUVs and crossovers […]
Posted inEGYPT IN THE NEWS
Egypt court sentences 75 to death, hundreds to jail over Rabaa sit-in
Topping coverage of Egypt in the foreign press this morning is a court handing down death sentences to 75 people and prison sentences to hundreds more over the 2013 Rabaa Al Adawiya sit-in. More than 600 were sentenced to prison in a mass trial of some 739 people. Many in the foreign press, including the […]