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The Cairo Metro signed yesterday a contract with e-payments platform Fawry for the latter to sell metro tickets, Cairo Metro announced. The move is meant to reduce congestion at metro stations’ ticket windows, according to the statement, which has reportedly increased since the Transport Ministry implemented a new pricing system earlier this month. Tickets are […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
FRA launches insurance database
The Financial Regulatory Authority (FRA) launched yesterday its comprehensive electronic database for the insurance industry, which will include information on both providers and customers, Al Masry Al Youm reports. The move, which comes with the support of industry lobby group the Egyptian Insurance Federation, is meant to keep insurance prices fair and transparent while helping […]
Posted inEgypt Politics + Economics
Gov’t eyes bringing down unemployment to 8.5% by 2022
The government is targeting bringing down unemployment rates to reach 8.5% by FY2021-2022, according to information from the Planning Ministry picked up by Youm7. The ministry also expects unemployment to drop to 10.4% during the upcoming fiscal year. Unemployment had dropped to 10.6% in 1Q2018, down from 11.3% in the comparable period last year, according […]
Posted inSports
Egypt’s Nour El Sherbiny wins British Open championship
Egyptian squash champion Nour El Sherbiny won yesterday the Allam British Open women’s championship after beating compatriot Raneem El Welily 3-0 in the final match, according to PSA World Tour. Yesterday’s win marks the second time for El Sherbiny to walk away with the British Open title, after becoming the first Egyptian woman to do […]
Posted inON YOUR WAY OUT
10 Egyptian startups graduate from Flat6Labs’ tenth cycle
Ten Egyptian startups graduated from Flat6Labs’ tenth cycle following the demo day held last week, Entrepreneur reports. “The current set of entrepreneurs hail from across Egypt and are working on online and digital solutions across industries ranging from fintech, medicine, training and development, to transportation, insurance and retail.” The graduating startups include savings planner 7aweshly, […]
Posted inON YOUR WAY OUT
Renowned Middle East historian Bernard Lewis dies at 101
Historian Bernard Lewis passed away on Saturday at 101, his lifelong partner Buntzie Churchill confirmed, the Washington Post reported on Sunday. Lewis, “a preeminent scholar of Middle Eastern history whose work profoundly shaped Western views of the region,” is credited with having used the term “clash of civilizations” in his 1990 essay, the Roots of […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.77 | Sell 17.87 EGX30 (Sunday): 16,782 (-0.6%) Turnover: EGP 613 mn (47% BELOW the 90-day average) EGX 30 year-to-date: +11.7% THE MARKET ON SUNDAY: 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 20 May 2018
The Financial Regulatory Authority (FRA) is expected to launch today a comprehensive electronic database for the insurance industry, which will include information on both providers and customers, Al Masry Al Youm reports. The piece does not explain who will have access to the database or otherwise outline its purpose, so the options here range from […]
Posted inWhat We're Tracking Today
Are emerging markets worse off now than they were during the 2008 global financial crisis?
The latest in emerging markets doom and gloom, which has become both generic and overdone, if you ask us: Are emerging markets worse off now than they were during the 2008 global financial crisis? Yes, according to Harvard economist Carmen Reinhart. Bloomberg delves into the details, taking a look at a number of EM indicators […]