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Sarwa Capital is planning to establish two separate life and insurance companies, each of which will have a capital of around EGP 100 mn, CEO Hazem Moussa tells Al Mal. Sarwa has received preliminary approval from the Financial Regulatory Authority for the planned companies, whose establishment is part of the company’s expansion strategy that includes […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Singer Sherine acquitted in “Bilharzia” comment case
Egyptian pop singer Sherine Abdel Wahab was acquitted of “spreading false news” yesterday after winning an appeal against a six-month prison sentence for joking that drinking from the Nile leads to contracting the Schistosomiasis (Bilharzia), Ahram Gate reports.
Posted inON YOUR WAY OUT
Nursing service platform 7keema to compete for USD 1 mn in equity investment at Switzerland startup competition
On-demand home nursing service platform 7keema will be competing at seed-stage startup competition Seedstars in Switzerland next year, where it could receive up to USD 1 mn in equity investment, Disrupt Africa reports. 7keema won the Egypt round of the global competition, edging out auto parts e-commerce platform Odiggo, traveler-based shipment platform HitchHiker, education technology […]
Posted inON YOUR WAY OUT
Egypt preparations for Ramadan
Fawanees everywhere: The traditional Ramadan fanoos (lantern) is hard to miss these days as Egyptians prepare for the holy month. Thousands of colourful lanterns are sold in all shapes and sizes across the country, including many honouring football star Mohamed Salah. Charities and volunteers are out in full force to prepare staple food boxes and […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.67 | Sell 17.77 EGP / USD at CIB: Buy 17.66 | Sell 17.76 EGP / USD at NBE: Buy 17.62 | Sell 17.72 EGX30 (Tuesday): 17,814 (+1.7%) Turnover: EGP 1.4 bn (21% ABOVE the 90-day average) EGX 30 year-to-date: +18.6% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
17 May (Thursday): Expected date for the start of Ramadan. 17 May (Thursday): CBE’s Monetary Policy Committee meeting. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 28 June (Thursday): CBE’s Monetary Policy Committee meeting. 16 August (Thursday): CBE’s Monetary Policy Committee […]
Posted inWhat We're Tracking Today
What we’re tracking on 08 May 2018
Ugandan President Yoweri Museveni is also visiting Cairo today to meet with President Abdel Fattah El Sisi, Ugandan Foreign Minister Sam Kutesa said, according to Ahram Gate. Topping the agenda items include the stalled talks on the Grand Ethiopian Renaissance Dam (GERD). Foreign Minister Sameh Shoukry did not mince words on who he believes is […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Inflation numbers should come out on or about this Thursday, 10 May. This month is all the more significant as the central bank’s Monetary Policy Committee will meet on 17 May to set interest rates.
Posted inON THE HORIZON
On the horizon
EETC to issue tender for electricity grid interconnection with Sudan “within days”: The Egyptian Electricity Transmission Company (EETC) will issue a local and global tender for power lines and transformers for the electricity grid interconnection project with Sudan “within days,” according to sources. Ten companies, including General Electric, Siemens, Schneider Electric, Elsewedy, will be invited […]