Author Archives: enterpriseam admin

Passenger car sales declined 2.3% y-o-y in January to 6,800 vehicles from 9,700 in the same month last year, according to an Automotive Marketing Information Council report picked up by Al Mal. January say the lowest number of cars sold since May 2017 and the slump comes after sales had recovered substantially in December. The […]

South African insurer Sanlam looking for Egypt entry, African acquisitions: South African insurer Sanlam is “scouring Africa for more acquisitions to extend its lead as the continent’s largest financial-services company outside of banking,” Bloomberg reports. Sanlam is “looking for ‘bolt-on’ acquisitions in Ghana, as well an entry into Egypt and to build a strategic partnership […]

MOVES- Finance Minister Amr El Garhy appointed Amr El Kholy as Vice Minister for Customs and Public Revenues, Al Mal reported. El Kholy, who was most recently CFO at Olayan Group subsidiary Rashidi El Mizan, was appointed prior to Amr El Monayer’s resignation as Vice Minister of Finance for Tax Policy, Al Borsa reported. MOVES- […]

Is someone in Egypt hijacking local internet users’ connection to secretly mine cryptocurrency? Researchers at Citizen Lab found Canadian-made “deep packet inspection (DPI) middleboxes” in Egypt (and also Turkey) that are being used “likely by nation states or ISPs” to “hijack Egyptian Internet users’ unencrypted web connections en masse, and redirect the users to revenue-generating […]

France needs US authorization before it can sell Egypt French Scalp cruise missiles with American parts, Dassault Aviation Chairman and CEO Eric Trappier said on Thursday, Defense News reports. “This is a government-to-government contract. If there are authorizations, then it is up to the government for the component and the government for the aircraft,” he […]

Saudi to lift strawberry, pepper import ban in a few days? The Agriculture Ministry has received word from Saudi authorities that they would lift the ban on imports of Egyptian peppers and strawberries in a few days’ time, Deputy Minister Safwat El Haddad said, Al Mal reports. The decision was made during a meeting between […]

Germany deported 100 Egyptians over residency permit violations, the Associated Press Reports. The deported individuals “were handed over at Cairo’s international airport to Egyptian authorities who are investigating them and the circumstances surrounding their deportations,” airport officials told the AP. However, Egypt’s Ambassador to Berlin Badr Abdel Aati dismissed the reports as “inaccurate,” explaining that […]

MbS’ purge propels Nassef to the top of the Arab rich list: Nassef Sawiris topped Forbes’ list of the richest Arabs for 2018 with an estimated net worth of USD 6.6 bn. “Forbes chose to leave off all 10 Saudis given reports of asset seizures after some 200 people, including some bn'aires were detained.” This […]

“Work required to list Aramco” will be done by 2H2018, but not the IPO itself: The Saudis appear to be throwing everyone off once again on when exactly they plan to have the Aramco IPO. CEO Amin Nasser said on Thursday that all work required from the oil giant for the IPO will be completed […]