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IFC pledges USD 2 bn in funding to Egypt’s private sector until 2019: The International Finance Corporation (IFC) is committed to extending as much as USD 2 bn in funding to Egypt’s private sector until 2019 under the country’s cooperation framework with the World Bank Group, IFC CEO Philippe Le Houérou told Investment Minister Sahar […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Sawiris, Fortress Investments’ Edens acquire 55% stake in Aston Villa FC in GBP 30 mn transaction
M&A WATCH- Sawiris, Fortress Investments’ Edens acquire 55% stake in Aston Villa FC in GBP 30 mn transaction: Nassef Sawiris is joining forces with Fortress Investment Group co-founder Wes Edens to buy a 55% stake in English football club Aston Villa for GBP 30 mn, sources close to the matter told Bloomberg on Saturday. The […]
Posted inSpeed Round
Supply Ministry to begin registering new beneficiaries to subsidy rolls alongside newborns as of August
The Supply Ministry will reportedly begin registering more citizens to the subsidy rolls as of August under tighter regulations adopted last year, a ministry source tells Al Shorouk. The ministry will begin accepting applications to issue new ration cards as the registration window also opens for families to add newborns to their data, according to […]
Posted inSpeed Round
Is the gov’t banning exports of raw materials?
Is the gov’t banning exports of raw goods? The government is currently looking to ban exports of raw materials in order to maximize their use in the value chains here at home, Trade and Industry Minister Amr Nassar said. Raw materials which have not undergone any type of processing will not be exported, Nassar told […]
Posted inSpeed Round
Egypt, Sudan to form joint task force to oversee future cooperation with an eye for boosting ties
Egypt, Sudan to form joint task force to oversee future cooperation with an eye for boosting ties: President Abdel Fattah El Sisi and Sudanese President Omar Al Bashir agreed on Thursday to form a joint ministerial task force that would draw up a vision for future cooperation between Cairo and Khartoum, with a clear timeline […]
Posted inSpeed Round
TDA boss Serag El Din Saad appointed as assistant tourism minister
MOVES- Tourism Development Authority (TDA) boss Serag El Din Saad was named assistant tourism minister, according to state-run Al Ahram. Saad will continue on as head of TDA.
Posted inSpeed Round
Correction
CORRECTION- French law firm Gide Loyrette Nouel was tapped as joint legal counsel for Cairo Investment and Real Estate Development’s (CIRA) IPO, and not GED Lawyers as we wrote on Thursday. The story has since been corrected on our website.
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
The Federation of Egyptian Industries (FEI) plans to meet with central bank officials at the end of July to discuss the two-year delay in export subsidy payments from the government, committee member Hassan Mabrouk tells Amwal Al Ghad. Finance Minister Mohamed Maait had told us last month, however, that he would be working to devise […]
Posted inImage of the Day
Egyptian women challenge social norms with Parkour
All-girl Parkour squad challenges social norms: A group of young girls who have trained everyday for the last six months to eventually form Egypt’s first professional all-female Parkour team have also been challenging social norms,according to Reuters.