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Acumen Asset Management plans to establish two new funds in the coming period with collective capital of EGP 200 mn, Product Development head May El Haggar tells Al Mal. The first will be a EGP 100 mn cash fund and the second a EGP 100 mn capital guarantee fund, according to El Haggar. He said […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Furniture City in talks with Egyptian, UAE investors to establish EGP 1.5 bn in projects
Officials from the Damietta Furniture City are in talks with unnamed Egyptian and Emirati investors to establish projects worth EGP 1.5 bn, CEO Moataz Bahaa El Din said, according to Al Mal. The projects include building conference halls, a hospital, a hotel and a technical institute for design and vocational training.
Posted inOther Business News of Note
El Assar meets with Bechtel regional president to discuss cooperation
Military Production Minister Mohamed El Assar met yesterday with Bechtel’s Regional President for Europe and the Middle East, Stuart Jones, to discuss a potential JV with ministry-affiliated companies, Al Shorouk reports. The JV would be established specifically for development on national mega projects, according to the newspaper.
Posted inLegislation + Policy
House Rep. drafts legislation regulating organ donations
The House of Representatives is drafting legislation to regulate organ donations, which will be up for discussion during its upcoming legislative session, Rep. Tarek Metwalli tells Al Shorouk.
Posted inLaw
Shalakany Law tapped as legal advisor for EGPC reorganization
Shalakany Law Office has been selected as legal advisor on the reorganization of the EGPC and its subsidiaries, El Shalakany Partner Mariam Fahmy tells Amwal Al Ghad. The operational restructuring process, which is hoped would boost production and efficiency, is expected to be complete by end-2018, Fahmy says.
Posted inEgypt Politics + Economics
Muslim Brotherhood-era minister Mohamed Mahsoub released in Italy
Italian authorities in Sicily released on Thursday Ikhwan-era Parliamentary Affairs Minister Mohamed Mahsoub after detaining him for 12 hours, Egypt’s Foreign Ministry said in a statement picked up by the Associated Press. Mahsoub, who has been an Italian citizen since 2016, is wanted on charges of fraud. Italian authorities said they would continue to monitor […]
Posted inON YOUR WAY OUT
Pope Tawadros quits Facebook
Pope Tawadros quits Facebook: Pope Tawadros has shut down his Facebook page, saying he has quit the site as it's a "waste of time,"Sky News reports. The Coptic Orthodox Church also ordered its monks to shut down their social media accounts, giving them a one-month deadline to do so, saying that social media posts “are […]
Posted inON YOUR WAY OUT
The zookeeper who turns donkey into Zebras is facing public prosecution
Authorities crack down on counterfeit zebras: A zookeeper has been called in for questioning by authorities over the donkey painted to look like a zebra presented at his zoo. The story, which is gaining traction in the foreign press, has been a new source of embarrassing entertainment to satirists, with the Daily Show’s Trevor Noah […]
Posted inON YOUR WAY OUT
Czech tourist killed in Marsa Alam shark attack
A Czech tourist was killed in a shark attack off the coast of Marsa Alam, Egyptian Streets reports. Local police are investigating the incident.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.82 | Sell 17.92 EGP / USD at CIB: Buy 17.83 | Sell 17.93 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Thursday): 15,806 (+0.9%) Turnover: EGP 1.5 bn (66% above the 90-day average) EGX 30 year-to-date: +5.2% THE MARKET ON THURSDAY: The EGX30 ended […]