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Matouk Bassiouny advised on legislation establishing EGP 200 bn sovereign wealth fund: Matouk Bassiouny’s head of finance and projects and name partner Mahmoud Bassiouny provided legal counsel to the investment and planning ministries on drafting the legislation establishing Egypt’s EGP 200 bn sovereign wealth fund, according to an emailed statement. The fund, the establishment of […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Earnings watch: Orascom Construction
EARNINGS WATCH- Orascom Construction (OC) reported net income attributable to shareholders increasing by 61.2% y-o-y of USD 78.5 mn in 2017. The figure, excluding a one-off non-cash tax effect, shows a 112.5% y-o-y increase to USD 103.5 mn. OC’s revenues dropped 8.8% to register USD 3.68 bn.
Posted inSpeed Round
Saleh El Sheikh appointed as new head of CAOA, deputy planning minister
MOVES- Saleh El Sheikh was appointed as the new head of the Central Authority for Organization and Administration (CAOA), Al Masry Al Youm reports. El Sheikh succeeds Mohamed Gamil, who has been heading CAOA since April 2016.
Posted inSpeed Round
Parliament committees pass Upper Egypt Development Authority legislation, Cyber Crimes Act clauses on user data
LEGISLATION WATCH- There will soon be a new authority to drive development in Upper Egypt. Parliament’s Local Administration Committee approved on Wednesday a bill to set up the Supreme Authority for Upper Egypt Development, Al Mal reports. The committee is recommending that the executive regulations for the bill require a financial and progress review of […]
Posted inSpeed Round
World Bank approves USD 500 mn loan to fund Egypt K-12 education reforms
The World Bank has approved a USD 500 mn loan to support Egypt’s national strategy to develop K-12 education, Investment Minister Sahar Nasr announced in a statement. Funding deployed under the five-year Supporting Egypt Education Reform Project includes earmarks for improving early childhood education (USD 100 mn), training teachers and ‘education leaders’ (USD 100 mn), […]
Posted inUncategorized
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Posted inImage of the Day
A little more than fashionably late, Saudi hosts first-ever Arab Fashion Week
A little more than fashionably late: Saudi Arabia hosted the first-ever Arab Fashion Week at the Ritz-Carlton Hotel in Riyadh on Tuesday, Reuters reports. The event is being positioned as part of social change being enacted under Crown Prince Mohammed bin Salman, which has granted women the right to drive and lifted a ban on […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 15 April 2018
On a slow news weekend for Egypt in the international press, pickups of wire coverage of the deaths of eight soldiers and wounding of 15 more in a terror attack in central Sinai dominate coverage. Fourteen terrorists were killed in the ensuing gun battle, according to a military statement. The attack came hours after President […]
Posted inEGYPT IN THE NEWS
FedEx signs on to transport USD 1 bn worth of King Tut artifacts
FedEx signing on to transport USD 1 bn worth of King Tut artifacts has provided the company with “significant brand exposure,” Adweek says. “The brand supplied a tricked out Boeing 777 with gadgets that monitor humidity, temperature and light exposure and staffed the plan with round-the-clock security, including an ever-present Egyptian courier, for the 7,500-mile […]
Posted inOn Deadline
Columnists condemn the “tripartite aggression” on Syria
The nation’s columnists are blockading about what some of them are describing as the “tripartite aggression” against Syria. Al Shorouk’s Emad El Din Hussein says that targeting Bashar Al Assad won’t help Syria any more than targeting Gaddafi or Saddam helped Libya or Iraq. Al Masry Al Youm’s Samir Farag whines that the US, UK […]