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Aeroflot won’t be operating flights from Russia to Egypt until “late February,” when the two countries sign another security protocol, CEO Vitaly Savelyev told reporters yesterday, according to TASS. Savelyev didn’t get into details of the protocol, but said that its signing is a prerequisite for Aeroflot to begin selling plane tickets to Cairo. Egypt […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Tourism Ministry abandons plan to stipulate minimum rates for hotels.
The Tourism Ministry appears to have abandoned plans to set a minimum charge of per night for hotel rooms in Egypt after it was rejected by the Ismail Cabinet. Ministers refused the proposal after studies suggested no other nation has a similar policy, Deputy Tourism Minister Adela Ragab tells Al Mal. The committee mandated with […]
Posted inSpeed Round
ICC orders Damietta Ports to pay Doosan USD 74 mn
Damietta Ports lasts USD 74 mn international arbitration case: The International Court of Arbitration has ordered the Damietta International Ports Company and Kuwait and Gulf Link Transport (KGL) to pay USD 74 mn in addition to interest and legal expenses to Doosan Heavy Industries. KGL is part of an international consortium that owns a 25% […]
Posted inSpeed Round
E-commerce platforms embrace regulation in Egypt?
E-commerce platforms embrace regulation in Egypt: Some of the largest e-commerce platforms operating in Egypt, among them Jumia and Amazon subsidiary Souq.com, have (at least publicly) expressed support for the government’s drive to regulate their industry. Only 2% of Egypt's e-commerce market is regulated, with the rest being unregistered and un-taxed, Hisham Safwat, CEO of […]
Posted inSpeed Round
Awqaf sells EGP 404.9 mn worth of shares in bank
Freeing up liquidity? The Religious Endowments Authority sold a stake worth EGP 404.9 mn in the Housing and Development Bank, according to a bourse disclosure. The Authority’s head, Ahmed Abdelhafez, had said earlier in the month that it was looking to invest in the upcoming round of state-owned company IPOs. Abdelhafez had also said the […]
Posted inSpeed Round
IMF advises Middle East to cut back on public wages bill
The IMF is advising Middle Eastern countries to work on cutting their public wage bills as “attempts to contain unemployment by creating bloated public sector workforces have completely failed,” says the Financial Times (paywall). In its latest report, Public Wage Bills in the Middle East and Central Asia, the IMF finds that countries across the […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
US not paying attention to potential conflict in Horn of Africa
With no single story dominating coverage of Egypt in the foreign press, the Cold War on the Nile, Russia’s growing ties with Egypt and human rights issues continue to guide the narrative on Egypt in the global press. Egypt, Sudan, and Ethiopia are “close to armed conflict over a Nile dam project” and so far […]
Posted inOn Deadline
Stalled GERD negotiations could benefit from a show of good faith
Egypt, Ethiopia, and Sudan agreeing to launch a joint development project would be a show of good faith that could help ease tensions over the Grand Ethiopian Renaissance Dam, Mohamed Hegazy says in leading state-owned daily Al Ahram. Part of this project could be setting up a transnational highway and an electricity interconnection project between […]
Posted inWorth watching
The futuristic Detroit Auto Show
The Detroit Auto Show is evolving into more of a tech and startup exhibition as car manufacturers race to keep up with developments in ride-sharing, electric and self-driving vehicles,a Reuters video suggests. From automated moving platforms made to transport anything to electric self driving shuttles that move in fleets, this year’s show even features a […]