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Hoteliers finally said it — posting a picture to a few thousand Instagram followers doesn’t make you a real ‘influencer’: (And yes, we absolutely despite the term “influencer.”) Hotel brands are fed up with normal people with a minor social media following touting themselves as “influencers,” according to the Atlantic. “People say, I want to […]
Author Archives: enterpriseam admin
Posted inWorth watching
Need to take some measurements? There will soon be an app for that, too
The latest thing to disappear into your iPhone (after following your TV, music and DVD collection, calculator, et cetera): The humble tape measure: Apple is preparing to roll out a new app this fall that “will make the tape measure go the way of the dinosaur,” according to CNBC. The app, simply named Measure, allows […]
Posted inDiplomacy + Foreign Trade
El Sisi, Madbouly meet Iraqi vice president in Cairo
President Abdel Fattah El Sisi met yesterday with Iraqi Vice President Ayad Allawi to discuss political developments in Iraq, including the formation of a new government to complete the country’s political transition, according to an Ittihadiya statement. The two leaders also discussed work on reconstructing Iraqi cities after three years of war with Daesh. Prime […]
Posted inEnergy
EuroAfrica Interconnector presents feasibility studies on linking Egypt, Cyprus’ electricity grids
EuroAfrica Interconnector presented Electricity Minister Mohamed Shaker with feasibility studies yesterday on linking Egypt and Cyprus’ electricity grids, Al Mal reports. The ministry will review the studies before entering final talks with Cyprus on the details of the connection, Shaker said, without providing details on the expected timeline. EuroAfrica will install the 1,707 km, 2,000 […]
Posted inBasic Materials + Commodities
GASC issues wheat tender for August delivery
The General Authority for Supply Commodities (GASC) issued a tender yesterday for an unspecified amount of wheat that’s expected to be delivered sometime between 11-20 August, Vice Chairman Ahmed Yousuf tells Reuters’ Arabic service. GASC is looking to purchase soft wheat and wheat flour from countries including US, Canada, Australia, Germany, Romania and Argentina.
Posted inHealth + Education
House Education Committee approves USD 168 mn Egyptian-Japanese partnership agreement
The House of Representatives’ Education committee approved on Monday a USD 168 mn loan from the Japan International Cooperation Agency (JICA) to finance the construction of 45 new Japanese-style schools, Deputy Education Minister for Teaching Affairs Mohamed Omar tells Al Ahram. Egypt is chipping in with USD 200 mn for the project. The Cabinet had […]
Posted inTourism
Air Arabia launches two weekly flights to Sharm from Beirut
Low cost carrier Air Arabia has launched two weekly flights to Sharm El Sheikh from Beirut, according to the company’s website. The move comes as part of efforts to meet the growing demand for travel between both destinations, company CEO Adel El Ali tells Al Mal.
Posted inAutomotive + Transportation
Cairo Metro Line 3 Phase 4A to be inaugurated in December, says Arafat
Phase 4A of the Cairo Metro’s Line 3 is expected to be operational by December 2018, Transport Minister Hisham Arafat said yesterday, Al Masry Al Youm reports. Construction work on the phase is 85% complete, while the establishment of the line’s rails is around 55% complete, according to the minister.
Posted inBanking + Finance
Five local banks to sign contracts with Al Canal Sugar for EGP 2.3 bn short-term loan
A consortium of five local banks is expected to sign contracts with Al Ghurair Group’s Al Canal Sugar for a EGP 2.3 bn short-term loan this week to fund its USD 1 bn sugar plant, unidentified sources tell Al Mal. The banks include Qatar National Bank Ahli, AlexBank, National Bank of Egypt, NBK Egypt, and […]
Posted inBanking + Finance
Alta Semper Capital honored with Private Equity Africa award for Macro Group investment
Alta Semper Capital was honored with Private Equity Africa’s “Specialist [transaction] in Healthcare” for its 2016 investment in healthcare products outfit Macro Pharma, according to an emailed statement (pdf). Matouk Bassiouny had acted as legal advisor to Alta Semper on the transaction.