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Prince Alwaleed bin Talal’s KHC sells Movenpick Hotels to AccorHotels: Prince Alwaleed bin Talal’s Kingdom Holding Company (KHC) and its partners have signed an agreement to sell Movenpick Hotels and Resorts (MHR) to AccorHotels for CHF 560 mn (USD 567 mn), according to a statement by KHC. The transaction, which is expected to be completed […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Smart people wanted
*** SMART PEOPLE WANTED. We’re hiring at both Enterprise and at our parent company, Inktank. We’re looking for critical thinkers who have outstanding English-language writing skills. Don’t apply if you are not (at an absolute minimum) unafraid of numbers. We offer a great, casual work environment, the opportunity to work with smart people who care […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
Environment Ministry allocates EGP 70 mn to develop natural protectorates
The Environment Ministry has allocated EGP 70 mn to finance development of natural protectorates in Egypt, according to Egypt Today. The policy will see the government removing encroachments and addressing other damages caused by people in the Wadi Degla, Wadi El Rayan, and the Petrified Forest protectorates. The ministry is also assessing other areas in […]
Posted inEGYPT IN THE NEWS
Mo Salah’s dispute with the Egyptian Football Association highlights Salah’s star power
Topping coverage in the international press this morning is the ongoing dispute between Mohamed Salah and the Egyptian Football Association. The dispute shows just how much Egyptians love and support the Liverpool winger, Hamza Hendawi and Sam Magdy write for the Associated Press. The footballer’s statements on Twitter and Facebook expressing his frustration over the […]
Posted inDiplomacy + Foreign Trade
Egypt, ILO sign USD 3.7 mn MoU on capacity building, job creation
Egypt, ILO sign USD 3.7 mn MoU on capacity building, job creation: Egypt signed a MoU with the International Labor Organization (ILO) on Monday that will see them collaborate on a three-year project to support private sector and SME development through capacity building workshops, according to an Investment Ministry in a statement. The Norwegian government […]
Posted inEnergy
EETC seeks EUR 200 mn loan from EBRD for grid expansion
The European Bank for Reconstruction and Development (EBRD) is considering lending the Egyptian Electricity Transmission Company (EETC) up to EUR 200 mn for grid expansion, according to a bank statement. The loan will be used to finance part of EETC's plan to build and upgrade five high voltage substations in Upper Egypt, West Delta, Cairo, […]
Posted inEnergy
El Molla and Toyota Tsusho discuss boosting investments
Oil Minister Tarek El Molla met with representatives from Toyota Tsusho Corporation yesterday to discuss increasing the company’s investments in Egypt, according to a ministry statement (pdf). Both sides reviewed the possibility of Toyota’s participation in a refining and petrochemicals project currently under consideration, as well as a USD 1.9 bn diesel fuel refinery.
Posted inBasic Materials + Commodities
Bad weather hindered citrus exports to China this year
Citrus exports to China dropped this year due to bad weather conditions, Extra Global Company’s export chief Ahmed El Sayed tells Fresh Plaza. “We shipped less quantity to China than we did in previous years,” he says. Egyptian citrus products have been outperforming global peers with recent projections seeing our oranges taking the lead in […]
Posted inBanking + Finance
Tanmeyah is in talks with two banks for EGP 1 bn facility
Private sector microfinancier Tanmeyah is in talks with two unnamed banks to receive a EGP 1 bn loan to help reach its target of providing EGP 4.25 in microloans by the end of the year, CEO Amr Abouleish said. The company expects to receive the loan within four months’ time.