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The Trade and Industry Ministry is working to push the industrial sector’s share of Egypt’s GDP to 21%, and grow exports at an annual rate of 10% by 2020, Trade and Industry Minister Tarek Kabil said yesterday in an address to parliament, according to a ministry statement. Kabil also discussed the steps his ministry has […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Dar Al Iftaa issues fatwa against boycotting elections
Dar Al Iftaa also issued a fatwa (religious edict) on Monday that boycotting the election would be a sin and a rejection of Muslims’ religious duty to participate in the democratic process, Egypt Independent reports.
Posted inEgypt Politics + Economics
Court sentences six alleged Islamists to life in prison over violence charges
The Cairo Criminal Court sentenced six alleged Muslim Brotherhood members to life in prison yesterday on charges of terrorism, the state news agency said, according to The Associated Press. Four others were also sentenced to 15 years on similar charges. The verdict is not final and can be appealed.
Posted inNational Security
Egypt's ex-army officers pose growing security threat
Former army officers are posing a greater threat to Egypt’s security than militants in the Sinai, intelligence officials tell Reuters. The network known as Ansar “is comprised of army officers and policemen who use their training in counter-terrorism and surveillance to attack the forces they once served,” they tell the newswire. They added that some […]
Posted inON YOUR WAY OUT
Uber expands to Tanta, Damanhour
Ride-hailing app Uber announced expanding to Tanta and Damanhour from its existing operations in Cairo, Alexandria, and Mansoura, according to Ahram Online. “The expansion into Tanta and Damanhour ensures the presence of more job opportunities, supporting Uber’s vision in creating economic opportunities in other cities in Egypt through Uber technology,” Uber says. “After the success […]
Posted inON YOUR WAY OUT
Elon Musk selling flamethrowers to fund tunnel project
Elon Musk is really Ernst Stavros Blofeld: In a move that only seems to cement his status as a James Bond villain, Elon Musk’s tunneling startup Boring Co. started selling flamethrowers, which he himself promoted on social media last weekend, according to Bloomberg. The move appears to be a dare, masquerading as a marketing stunt, […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.63 | Sell 17.73EGP / USD at CIB: Buy 17.6 | Sell 17.7EGP / USD at NBE: Buy 17.63 | Sell 17.73 EGX30 (Tuesday): 15,316 (-0.4%) Turnover: EGP 1.2 bn (7% ABOVE the 90-day average) EGX 30 year-to-date: +2.0% THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session […]
Posted inCALENDAR
30 January-01 February (Tuesday-Thursday): CI Capital’s MENA Investor Conference, Four Seasons Nile Plaza, Cairo. 3-4 February (Saturday-Sunday): Egypt Investment Forum, Semiramis Intercontinental Hotel, Cairo. 05 February (Monday): Egypt’s Emirates NBI PMI reading for January announced. 08-11 February (Thursday-Sunday): Furnex & the Home international trade fair, Cairo International Convention Center. 12-14 February 2018 (Monday-Wednesday): Egypt Petroleum […]
Posted inWhat We're Tracking Today
What we’re tracking on 29 January 2017
As is often the case, we begin this morning grateful. Grateful for the privilege of writing you folks each day, and grateful for another day with our loved ones. Our apologies for being a few minutes late this morning. It’s a busy news day today, so we’ll get straight to the point: Attention brokers: The […]