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INVESTMENT WATCH- Florida-based iQ Power is planning to invest USD 300 mn in solar energy projects in Egypt, CEO and Global Business Director Sharif Al Haj tells Daily News Egypt.
Author Archives: enterpriseam admin
Posted inSpeed Round
Sudanese foreign minister Ibrahim Ghandour fired saying state is late paying diplomats
Sudan’s Ghandour fired — look for strain in Cairo-Khartoum relationship. Sudanese President Omar Al Bashir fired Foreign Minister Ibrahim Ghandour on Thursday, according to Sudan News Agency. The statement does not provide an explanation, but the AP notes that it comes just days after Ghandour told reporters that the Sudanese government is seven months behind […]
Posted inSpeed Round
Egypt ranks 167th globally in PwC’s Paying Taxes report
Egypt was ranked 167th out of 190 nations in Pricewaterhouse Coopers’ 2018 Paying Taxes report (pdf). “Using the perspective of a medium sized domestic manufacturer, [the report] … assesses not just the amount of tax paid, but how long it takes the company to meet its tax compliance obligations. This includes the time to prepare […]
Posted inSpeed Round
Jean-Marc Harion resigns as Orange Egypt CEO
MOVES- Jean-Marc Harion has resigned as Orange Egypt’s CEO, the company announced in a statement to the EGX (pdf). Orange Egypt’s board of directors will approve Harion’s resignation and select a replacement at its next meeting on Tuesday, according to the statement. Harion, who was previously the CEO of Orange Belgium, had led Orange Egypt […]
Posted inSpeed Round
SAP Egypt appoints Hoda Mansour as Managing Director
MOVES- German software giant SAP has appointed Hoda Mansour (LinkedIn) as its Managing Director in Egypt, Al Mal reports. Mansour was most recently SAP’s COO for the UAE and Oman.
Posted inSpeed Round
FRA can suspend investors, not brokers
CORRECTION- Amendments to the capital market law gives the Financial Regulatory Authority the power to suspend trading on the EGX by specific investors without a court ruling, not brokerage houses as we reported on Thursday. The confusion arose from the interpretation of the word “المتداول” by the English-language report we cited. H/t Mohamed E. and […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Russian businesses apparently don’t see much economic benefit in the RIZ
Russian businesses apparently don’t see much economic benefit arising from the USD 7 bn Russian Industrial Zone (RIZ), Al Monitor says. Russia was “dragged into” signing on for the project for political, rather than economic purposes, and many business figures don’t think that setting up projects in the RIZ is certain to yield significant returns, […]
Posted inOn Deadline
The “killer virus” of tuk-tuks spreads chaos in Egypt
The “killer virus” of tuk-tuks is bringing along a culture of chaos and a total collapse of order as it spreads into Egypt, Emad El Din Hussein writes for Al Shorouk. He makes it clear that he is not criticizing tuk-tuk drivers, who he considers “victims,” but condemns the “conspirators” who allowed the auto rickshaw […]
Posted inWorth watching
Could eye drops replace glasses or contact lenses? Israeli researchers think so.
Could eye drops replace glasses or contact lenses? A group of scientists at Bar-Ilan University have formulated eye drops that temporarily corrects eyesight by filling ridges on the surface of the cornea to adjust the trajectory of light passing through, according to the World Economic Forum. These “nano drops” are still in their early phases […]