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The Federation of Egyptian Banks (FEB) and the Federation of Egyptian Industries (FEI) are drafting legislation to help Egypt’s transition away from cash dependency, Thebes Consultancy Managing Director Ziad Bahaa El Din announced yesterday, Al Mal reports. Speaking at the FEB’s second annual conference on moving towards a cashless economy, Bahaa El Din said the […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Ahmed Shafik resigns as head of the Egyptian Patriotic Movement Party
Ahmed Shafik resigned as leader of Egyptian Patriotic Movement Party, handing over the chairman role to deputy head Rauf Al Sayed, according to Ahram Gate. The step seems to be the latest move in a complete withdrawal from political life after he withdrew his rollercoaster bid for the presidency. We expect his name to come […]
Posted inEgypt Politics + Economics
NEC forms committees to monitor elections
The National Elections Commission (NEC) issued yesterday a decision establishing a special committee to receive and look into all elections-related complaints, Al Masry Al Youm reports. The NEC also announced the establishment of committees in each governorate to monitor the election process, with each committee comprised of a judge from the Administrative Prosecution Authority and […]
Posted inEgypt Politics + Economics
Endowments Ministry says it is employing Professor X to weed out atheism
The Endowments Ministry is taking “precautionary measures” against atheism by stopping “extremist ideas” from spreading, Minister Mokhtar Gomaa told the House Religious Affairs Committee yesterday, Ahram Online reports. “Gomaa said his ministry’s strategy is based on fighting the spread of atheist and heretical ideas in media outlets and via online social-media networks like Facebook and […]
Posted inON YOUR WAY OUT
Drug addiction in Egypt double the global rate
Substance abuse rates in Egypt have hit 10%, or double the global average, Social Solidarity Minister Ghada Wali said in an interview with Lamees Al Hadidi getting coverage in AMAY. She added that while rates of addiction amongst school bus drivers have dropped, this is attributable to more stringent testing during the hiring process rather […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.67 | Sell 17.77EGP / USD at CIB: Buy 17.67 | Sell 17.77EGP / USD at NBE: Buy 17.65 | Sell 17.75 EGX30 (Tuesday): 15,089 (-0.3%) Turnover: EGP 956 mn EGX 30 year-to-date: +0.5% THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session down 0.3%. CIB, the index […]
Posted inCALENDAR
15-17 January (Monday – Wednesday): EFG Hermes Annual Egypt Day Conference, Four Seasons Nile Plaza, Cairo 22-23 January (Monday-Tuesday): Arqaam Capital Egypt Investors Conference 2018, The Vineyard Hotel, Cape Town, South Africa. 25 January (Thursday): 25 January revolution / Police Day, national holiday. 29-30 January (Monday-Tuesday): Seamless North Africa, The Nile Ritz-Carlton, Cairo. 30 January-01 […]
Posted inWhat We're Tracking Today
What we’re tracking on 16 January 2018
EFG Hermes kicked off its second Egypt Day conference last night with the firm’s annual CEO Dinner at the Four Seasons Nile Plaza. The three-day conference will bring top state officials — including President Abdel Fattah El Sisi, CBE Governor Tarek Amer, acting Prime Minister Mostafa Madbouly, and members of the Cabinet’s economic group — […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
The Transport Ministry will announce its new pricing scheme for railway tickets “within days,” Al Masry Al Youm reports. Transport Minister Hisham Arafat had said last week that ticket prices would climb 20-25% over multiple phases. Meanwhile, sources from the National Railway Authority (NRA) said the new prices for overnight trains came into effect yesterday, […]