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EARNINGS WATCH- Consumer recovery continuing? Cheese maker Domty said yesterday it is reporting a net profit of EGP 30.6 mn in its unaudited statements for 4Q2017, up from a net loss of EGP 29 mn in the same quarter the previous year. The company’s revenues for the quarter came at EGP 615 mn from EGP […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Nasr signs USD 500 mn tranche disbursal agreement with AfDB
Investment and International Cooperation Minister Sahar Nasr signed the agreement with the African Development Bank (AfDB) for the third USD 500 mn tranche of the USD 1.5 bn loan yesterday, according to a ministry statement. Disbursing the tranche was approved two weeks ago. AfDB Country Manager for Egypt, Malinne Blomberg, says the funding is structured […]
Posted inSpeed Round
CI Capital does well on EIMA’s 2017 fund performance report
CI Capital topped multiple categories in the Egyptian Investment Management Association’s (EIMA) 2017 fund performance report, according to an emailed statement (pdf). Its CIB Istithmar equity fund was ranked as the best-performing equity fund in the report, and the group also landed in the top spot for the performance of its fixed income, money market, […]
Posted inSpeed Round
Political figures call for boycotting elections
Five leading opposition figures issued a joint statement yesterday calling for a boycott of Egypt’s upcoming presidential election, Al Mal reports. The statement denounced what it said was the clearing of the field by the state of any competitors to President Abdel Fattah El Sisi in his bid for a second term. Who signed? Chief […]
Posted inUncategorized
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Posted inImage of the Day
Metro ticket artist
Ahmed Essam took to sketching the faces he sees on the metro on to his tickets to pass the time on his commute and the results are pretty cool, Egypt Today reports. Essam started out sketching faces in his notepad, and a new hobby was born when he forgot it one day. Although a business […]
Posted inEGYPT IN THE NEWS
Planned presidential elections getting negative coverage from the international press
The upcoming presidential elections are “increasingly taking on the character of the one-candidate referendums held for decades” in Egypt, Bureau Chief Hamza Hendawi writes for The Associated Press. “The overwhelmingly pro-[President Abdel Fattah El Sisi] media depict him as the only figure able to solve Egypt’s problems, and the president himself often says the need […]
Posted inOn Deadline
House Religious Affairs Committee must respect the division of church and state
The House Religious Affairs Committee must respect the division of church and state, and stop trying to outlaw specific practices and beliefs that it thinks contradict mainstream Islam, Hamdy Rizk writes for Al Masry Al Youm. Rizk bluntly points out committee head Omar Hamroush for proposing to outlaw atheism. He points out that the House’s […]
Posted inWorth watching
Dog-friendly cafe in Alexandria a hit
A dog-friendly cafe has opened in Alexandria at which pet owners can hang out with their best friends, according to BBC. The cafe provides food for the canines as well as some basic veterinary and grooming services and has so far proved a hit with Alexandrians. (watch, runtime 1:13)
Posted inDiplomacy + Foreign Trade
Egypt elected to preside over AU summit in 2019
Egypt elected to chair African Union in 2019: President Abdel Fattah El Sisi participated yesterday in a closed session of African Union (AU) heads of state at the 30th summit in Addis Ababa, during which Egypt was elected to chair the AU in 2019 for one year, according to an Ittihadiya statement (pdf). The session […]