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The Egyptian Black Sands Company signed yesterday an MoU with an unnamed Chinese company to establish the Egyptian-Chinese Black Sands Company, Al Mal reports. The JV will see the two companies cooperate on extracting minerals from black sands, which would be directed towards domestic use and exports, as well as on training Egyptian workers in […]
Author Archives: enterpriseam admin
Posted inLegislation + Policy
House reps. are drafting a law to punish subsidy fraud
A draft law proposal seeking to impose heavier fines and penalties for subsidy fraud will has been tabled for discussion by Parliament’s Legislative Committee, Al Mal reports. The bill looks to impose jail sentences of at least six months and fines of between EGP 20,000-1 mn, according to Rep. Seliman Fadl.
Posted inSports
Al Ahly officially to be headed by US second-tier league head coach
Al Ahly football club has officially signed Patrice Carteron as its new coach, according to King Fut. The 47-year-old Frenchman, was the head coach of Phoenix Rising, a second-tier team in the US. He succeeds Hossam El Badry, who resigned last month following Al Ahly's loss against Kampala City in Uganda at the CAF Champions […]
Posted inSports
Ramadan Sobhy signs three-year, GBP 5.7 mn transfer agreement with Huddersfield FC
Stoke City winger Ramadan Sobhy signed a three-year, GBP 5.7 mn transfer agreement with Huddersfield Football Club, according to BBC Sport. Reports had emerged earlier this year that Sobhi, 21, could transfer to Liverpool, where he would have joined Mo Salah.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.80 | Sell 17.90 EGP / USD at CIB: Buy 17.77 | Sell 17.87 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 15,938 (+0.1%) Turnover: EGP 486 mn (56% BELOW the 90-day average) EGX 30 year-to-date: +6.1% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
14 June (Thursday): 2018 World Cup kickoff match between Russia and Saudi Arabia, Moscow, Russia. 15 June (Friday): Egypt’s first 2018 World Cup match against Uruguay, Yekaterinburg, Russia. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 19 June (Tuesday): Egypt plays […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 June 2018
HOLIDAY WATCH- Everyone from the Central Bank of Egypt to the EGX and the Ismail Cabinet has now confirmed that with Ramadan set to end on Thursday, we will have a four-day long weekend running Friday-Monday. Enjoy seeing all the people you’re getting away from in Sahel while we revel in having the capital city […]
Posted inWhat We're Tracking Today
The Band's Visit named best musical, takes home 10 Tony awards
The Band’s Visit was named best musical at the Tony awards and snagged a further nine awards to boot on Sunday night, the Associated Press reports. Starring Katrina Lenk and Lebanese-American actor Tony Shalhoub, who was named best actor in a musical, the play promotes tolerance and cultural understanding through the story of an Egyptian […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
It’s T-minus two days until the World Cup kicks off in Moscow, withthe first match being played between Russia and Saudi Arabia, two of the lowest-ranked teams in the competition. That bodes well for us, but the Pharaohs don’t seem set to do that much better without Mohamed Salah, who (the nation hopes) will lead […]