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The Madbouly Cabinet received the House of Representatives’ official vote of confidence yesterday, Al Mal reports.The majority of reps. had signaled their approval of the cabinet’s policy program, which Prime Minister Mostafa Madbouly had unveiled early in July. The agenda is focused on the five main areas of economic development, improving living standards, human development, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt makes its most expensive wheat purchase since 2015
Thank you, climate change — Egypt makes its most expensive wheat purchase since 2015: The General Authority for Supply Commodities (GASC) paid an average USD 235.65 per tonne in an international wheat tender which closed on Tuesday, traders told Bloomberg on Wednesday. This was the most expensive wheat purchase Egypt has made since February 2015, […]
Posted inSpeed Round
Correction
CORRECTION- We incorrectly referred to Humansoft Holding’s USD 226 mn secondary offering on the Kuwait Stock Exchange, which was successfully concluded in record time by sole sellside bookrunner and financial advisor EFG Hermes, as an IPO. We apologies for the mistake and the story has since been corrected on the website.
Posted inSpeed Round
We’ve found an underground lake on Mars
We’ve found an underground lake on Mars: Radar data from the European Space Agency’s Mars Express spacecraft appears to have found a sizable salt-laden lake under ice on the southern polar plain of Mars, Reuters reports. The reservoir they detected represents the first stable body of liquid water ever found on Mars, scientists said. So, […]
Posted inSpeed Round
Sergio Marchionne, CEO who saved Fiat Chrysler dies at 66
Fiat Chrysler’s former CEO Sergio Marchionne passed away yesterday at age 66. Marchionne, who passed away from surgical complications just days after he was replaced, was the “architect of the automaker’s dramatic turnaround,” according to Bloomberg. “ [He] took the Italian manufacturer from the brink of bankruptcy to the New York Stock Exchange...to mark the […]
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 inUp Next
What we’re tracking this week and beyond
Foreign Minister Sameh Shoukry is expected to land in Washington during the first week of August to meet with US Secretary of State Mike Pompeo over developments in the Middle East and US-Egypt relations. Egypt is set to select the board of directors for its EGP 200 bn sovereign wealth fund “within days” by Prime […]
Posted inImage of the Day
An Egyptian zoo didn’t have zebras, so it got creative
An Egyptian zoo didn’t have zebras, so it got creative: A zoo in Cairo has apparently been trying to pass off a few donkeys as zebras by painting them black and white, according to the Sun. An Egyptian student visiting the zoo noticed that “the creature had unusually long ears and lacked the distinctive mane […]
Posted inEGYPT IN THE NEWS
Slow news day
Topping coverage of Egypt in the foreign press on a very slow news day this morning was the US unfreezing aid to Egypt. Other headlines worth noting in brief: Egypt should be clearing up conflicts arising in negotiations over the Grand Ethiopian Dam and establishing a long-term cooperation framework with Sudan and Ethiopia to guarantee […]
Posted inOn Deadline
The state of Egypt’s energy sector occupies columnists
Tuesday’s inauguration of the three combined-cycle power plants opened the floodgates of columns about the state of Egypt’s energy sector. Social Solidarity Minister Ghada Wali penned a piece for state-owned Al Ahram lauding Electricity Minister Mohamed Shaker for leading the transformation of the energy sector in Egypt and for being a manifestation of the leadership’s […]