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Steel magnate Ahmed Ezz has reached a EGP 1.7 bn settlement agreement with the government, Prosecutor General Nabil Sadek said in a statement picked up by Ahram Online. Ezz, who was released from prison on EGP 250k bail and placed on a no-fly list in July, will pay EGP 600 mn from assets recovered from […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Moussa backs extension of presidential term for six years
Presidential candidate Moussa Moustafa Moussa said he was not opposed to constitutional amendments that would extend the presidential term to six from four years, Al Masry Al Youm reports. Moussa said it would give state leaders a “chance to achieve more.”
Posted inEgypt Politics + Economics
Helwan Cement workers go on strike
Workers at Helwan Cement factory went on strike yesterday to protest delays in wages and compensation payments, Al Shorouk reports.
Posted inON YOUR WAY OUT
New UN-backed Cairo training center to support MENA consumer protection
Egypt’s Consumer Protection Agency (CPA) has partnered up with UNCTAD to launch a new regional training center in Cairo, according to the UN. The facility will be used to “hold training courses on consumer protection law, regulations and policies for officials from countries in the Middle East and North Africa (MENA) region.”
Posted inON YOUR WAY OUT
Sweden, Jordan and Egypt to hold fundraiser conference for UNRWA
Egypt, Jordan, and Sweden are co-hosting a conference to help UNRWA fill a major funding gap caused by US aid cuts to the Palestinians, according to a statement carried by The Associated Press. The US had informed the Palestinian aid agency that it was cutting this year’s funding to USD 60 mn from USD 360 […]
Posted inON YOUR WAY OUT
Biker covers Cairo to Cape Town route in a week
South African Biker Andrew Russell became the first man to travel from Cairo to Cape Town on a motorcycle in just seven days, according to IOL. This was Russell’s third crack at the 11,000 km journey and he believes his record was helped by factors like a new land border crossing between Egypt and Sudan, […]
Posted inON YOUR WAY OUT
Mobile users donate EGP 24.6 mn via text messages
Charitable mobile users generated EGP 24.6 mn via 4.9 mn text messages to 52 different local organizations in 2017, TA Telecom said in an emailed press release. The mobile donation platform, named MegaKheir, is serviced by and is part of TA Telecom and routes the money to charities like the 57357 Children Cancer Hospital, Dar […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.59 | Sell 17.69 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.56 | Sell 17.66 EGX30 (Wednesday): 15,473 (-0.3%) Turnover: EGP 4.0 bn (244% ABOVE the 90-day average) EGX 30 year-to-date: +3.0% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
05 March (Monday): Egypt’s PMI reading for February released. 05-07 March (Monday-Wednesday): EFG Hermes’ One on One Conference 2018, Atlantis, The Palm, Dubai, UAE. 06-07 March (Tuesday-Wednesday): The Sustainable Industrial Areas International Conference 2018, The Nile Ritz Carlton hotel, Cairo. 07-11 March (Wednesday-Sunday): ITB Berlin Convention, Berlin, Germany. 12-16 March (Sunday-Saturday): AmCham’s 40th Doorknock mission, […]
Posted inWhat We're Tracking Today
What we’re tracking on 28 February 2018
You can now file your tax returns online via this Tax Authority website, the Finance Ministry announced in a statement on Tuesday. Finance Minister Amr El Garhy noted that filing tax returns online is optional “for now,” which hints at the possibility that this might become mandatory, making us rather happy campers this morning. The […]