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MOVES- Finance Minister Mohamed Maait appointed Kamal Negm to lead the Customs Authority, Youm7 reports. Negm replaces Amr El Kholy who was appointed as an interim headafter ex-boss Gamal Abdel Azim was arrested last month on charges of accepting bribesworth EGP 1 mn in exchange for facilitating the clearance of goods from customs. Negm was […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Cisco appoints Ayman El Gohary as NWCA GM
MOVES- Cisco has appointed Ayman El Gohary as the new general manager for Cisco North, West & Central Africa (NWCA), according to Youm7. El Gohary was named for the new position back in February, according to CISCO’s official website. El Gohary was most recently the general manager for Cisco Egypt, Libya and Sudan.
Posted inSpeed Round
White taxis have turned down talks to integrate with Careem
White taxi drivers turned down a proposal from ride-hailing app Careem to begin discussions about including them in the company’s fleet, Country Planning Director Haitham Nassar said yesterday, Al Mal reports. Cab drivers apparently believe that joining Careem’s fleet would put them at an unfair advantage and force them to bear administrative fees they would […]
Posted inSpeed Round
Foreign Minister Sameh Shoukry’s DC trip
Foreign Minister Sameh Shoukry had a very busy day yesterday in Washington, meeting with US business leaders, state department officials and US National Security Adviser John Bolton. He sat down with business leaders representing US corporations including, Apache, ExxonMobil, Cargill, Lockheed Martin, and Honeywell. The meeting, which was organized by the US Chamber of Commerce, […]
Posted inSpeed Round
Sudan, Egypt sign military pact
Also on the diplomacy front, Egypt and Sudan reached a military cooperation agreement which would see them work together on border security and anti-terrorism operations, Xinhua reports. The agreement is the latest in a series of moves to de-escalate tensions between both countries over the Grand Ethiopian Renaissance Dam and trade.
Posted inSpeed Round
Canada-Saudi row deepens
Egypt stands with Saudi in Canada row: Egypt gave its support to Saudi Arabia against “any interference in its internal affairs,” according to a statement from the Foreign Ministry on Tuesday. The ministry said it was concerned at the level of escalation, with ministry spokesperson Ahmed Abu Zaid saying that the events were a result […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
EFIA to meet with FinMin some time next week to discuss Customs Act: The Egyptian Federation of Investors Associations (EFIA) will meet with Finance Minister Mohamed Maait next week to discuss their remarks on the latest draft of the Customs Act, deputy EFIA head Mohamed El Morshedy said yesterday. The federation’s reservations on the act […]
Posted inTHE MACRO PICTURE
Oil stocks appear to be falling “out of favor” with EM investors
Energy plays haves slipped out of favour with emerging market equity funds, Steve Johnson writes for the Financial Times, “in what appears to be a structural trend, rather than a cyclical one driven by weak oil prices.” A new study by Copley Fund Research shows that “12% of EM equity funds now hold no oil […]
Posted inImage of the Day
New York Times photo essay on the health hazards of living next-door to a cement factory in Alexandria
Residents in an Alexandria neighborhood claim they’re developing health problems because they are “directly in the path” of a nearby cement plant’s emissions. A photo essay carried by the New York Times depicts the health hazards endured by the residents of Wadi El Qamar in western Alexandria as a result of their proximity to Titan […]