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FRA establishes an insurance industry bailout fund: The board of the Financial Regulatory Authority (FRA) has approved the establishment of a bailout fund for the insurance industry, Al Mal reports. The fund will pay off policy holders in the event that the underwriter is unable to do so, according to FRA deputy head Reda Abdel […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EBRD provides EUR 205 mn loan for Cairo Metro Line 1 rehabilitation
INFRASTRUCTURE WATCH- EBRD provides EUR 205 mn loan to rehab Cairo Metro’s Line 1: The Madbouly government signed yesterday a EUR 205 mn loan agreement with the European Bank for Reconstruction and Development (EBRD) to finance the rehabilitation of infrastructure on the Cairo Metro’s Line 1, according to a Cabinet statement. “The funds will finance […]
Posted inSpeed Round
Cabinet signs off on EGP 2.5 bn strategy to develop Egypt’s education infrastructure
CABINET WATCH- The Madbouly Cabinet signed off yesterday on a EGP 2.5 bn plan to develop the country’s education infrastructure, according to a statement. The plan will build some 2,500 new schools across Egypt as part of the government’s plans to overhaul the education sector. No further details were provided on what these developments entail, […]
Posted inSpeed Round
France looks for ways to skirt US restrictions on Rafale sales
France looks for ways to skirt US restrictions on Rafale sales: France is looking to free itself from US restrictions on key components of its Rafale jets that have blocked the sale of 12 jets to Egypt, France’s Defense Minister Florence Parly told France’s National Assembly early last month, Defense News reports. France lacks the […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
A delegation of 60 US companies will visit Egypt in October to explore potential investments across a variety of sectors, a Trade and Industry Ministry statement says, without naming the companies. The delegation’s visit was organized by our friends at the American Chambers of Commerce. A Japanese trade delegation is also due to visit the […]
Posted inImage of the Day
One EGP note back from 1899 sold for USD 26,400 at Lyn Knight’s auction
An 1899 edition of our EGP 1 note sold for USD 26,400 at an auction last month at the International Paper Money Show in Kansas City, according to Numismatic News.
Posted inEGYPT IN THE NEWS
Egypt’s shift to green energy is a “move in the right direction”
Egypt’s energy transformation and its shift to green energy “is definitely a move in the right direction,” Marissa Higgins writes for Green Matters. Higgins notes that Egypt’s renewables program is a “multi-nation effort” encouraged by the IMF-backed economic reform program, which has seen Egypt significantly scale back its fossil fuel subsidies. With the inauguration of […]
Posted inOn Deadline
What happened to Egypt’s Child Protection Law?
What happened to Egypt’s Child Protection Law? It has been over a decade since Egypt drafted and passed its Child Protection Law, but the legislation has yet to be enacted due to its pending regulations, Iqbal Baraka writes for Al Masry Al Youm. Baraka wonders whether it would be best to scrap the law altogether […]
Posted inWorth reading
An abundance of “pointless jobs” is behind the world’s stagnant productivity levels
An abundance of “pointless jobs” is behind the world’s stagnant productivity levels: The service sector seems to have created an abundance of “pointless jobs which could be eliminated with absolutely no loss to society,” Mark Buchanan writes for Bloomberg. A new book by anthropologist David Graeber claims that businesses in this age are less concerned […]