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The Cyber Crimes Act, currently with the House of Representatives’ ICT Committee, punishes those guilty of online defamation and libel with jail time, Al Borsa reports. The legislation currently mandates a prison sentence of up to one year, but members of the committee, including its deputy chair, would like this increased to three years. The […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Supreme Court ruling on Tiran and Sanafir is now law
The Supreme Constitutional Court’s ruling to dismiss all legal challenges to Egypt’s transfer of the Tiran and Sanafir Island was published yesterday in the Official Gazette (pdf). MPs had signed off on the agreement last June, a week before it was ratified by President Abdel Fattah El Sisi.
Posted inEgypt Politics + Economics
Finance Ministry settles 260 cases of tax evasions
Finance Minister Amr El Garhy signed off on settling 260 tax and customs evasion cases, according to a ministry statement. The statement does not provide further details on the cases or the value of the settlements.
Posted inNational Security
Egypt’s submarine fleet does not make Israeli commander happy -JPost
A senior Brigade Commander in Israel’s navy says Egypt’s growing submarine fleet does not make him happy, JPost reports as part of another expose related to Prime Minister Benjamin Netanyahu’s corruption case dubbed Case 3000. The unnamed commander says “[Egypt] bought a different model of submarine. I will always seek sea superiority over everyone. I […]
Posted inON YOUR WAY OUT
London-based Egyptian e-learning platform raises USD 833.5k from angel investors
London-based Egyptian e-learning platform Knowledge Officer has raised USD 833.5k from UK and US angel investors Ian Hurlock from Fox and Abdullah Al Shaheen, according to Wamda. The startup, which creates personalized and evolving learning paths for professionals based on their career goals, has gained 1,000 users since its launch in January 2017.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.57 | Sell 17.66 EGP / USD at CIB: Buy 17.55 | Sell 17.65 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Wednesday): 16,882 (-0.6%) Turnover: EGP 2.0 bn (74% ABOVE the 90-day average) EGX 30 year-to-date: +12.4% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
12-16 March (Monday-Friday): AmCham’s 40th Doorknock mission, Washington D.C., USA. 23 March (Friday): Orchestra In Art gala concert “The Three Egyptian Tenors,” Arts-Mart Gallery, 9:00pm. 28-31 March 2018 (Thursday-Sunday): Cityscape Egypt, Cairo International Convention Centre, Cairo. 02-03 April (Monday-Tuesday): Pharos Holding’s investor conference: In Search for Egypt Alpha, Cairo. 08 April (Sunday): Easter Sunday, national […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 March 2018
US President Donald Trump ousted US Secretary of State Rex Tillerson — and Tillerson only found out through Twitter, the New York Times reports. Tillerson told reporters that “the president had called him from Air Force One just after noon — more than three hours after Mr. Trump had tweeted the news of his firing […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The newly appointed board of the Financial Regulatory Authority (FRA) will be ratified in the coming days by Prime Minister Sherif Ismail, sources tell Youm7. Once ratified, the board will begin work on issues including setting the executive regulations of the Capital Markets Act, completing the Insurance Act, and drafting legislation that would grant FRA […]