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CORRECTION- Shahid Law got in touch with us yesterday to explain that the value associated with Longreen Capital Advisors’ acquisition of Egyptian International Restaurants Company, operator of El Omda chain of restaurants, was inaccurate. The figure reported on their website, Shahid says, was associated with an unrelated, but similar transaction in the food sector.
Author Archives: enterpriseam admin
Posted inSpeed Round
Switzerland lifts freeze on Mubarak-era figures’ assets
Switzerland has officially lifted its freeze on assets worth a combined CHF 430 mn (USD 436 mn) belonging to Mubarak-era figures, Reuters reports. “Taking note of the recent closing of the mutual legal assistance procedures between Switzerland and Egypt, the Federal Council decided to lift with immediate effect the freeze on assets in the context […]
Posted inSpeed Round
Saudi authorities continue to question, arrest individuals in corruption crackdown
The Great MBS Purge rolls on: Saudi Arabian authorities are questioning more people and freezing more bank accounts as part of its anti-corruption crackdown which saw princes and officials arrested, Bloomberg reports, citing people familiar with the matter. Authorities are working on settlements with some suspects, as the kingdom is hoping to recover as much […]
Posted inSpeed Round
Uber defined as a transport service in the EU as it appoints a new COO
The EU’s top court issued a ruling yesterday that Uber should be “regulated like other taxi operators” as its services fall under the transport field, Reuters reports. Although Uber does not see the ruling as having a major effect on its operations in Europe, where it already abides by transport laws in most EU member […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Security preparations ahead of Christmas holidays leads the conversation on Egypt in the foreign press
Security preparations ahead of the Christmas holidays are leading the conversation on Egypt in the foreign press this morning. The Interior Ministry is dispatching some 230,000 police officers to stand guard at churches of different denominations across the country , Al Arabiya reports. All security departments are on high alert ahead of holiday celebrations, and […]
Posted inEGYPT IN THE NEWS
Tutankhamun collection transferred to GEM as “remarkable” ancient tombs and artifacts continue to be discovered in Egypt
A slew of ancient tombs and artifacts discovered in Egypt are among the most remarkable art-historical discoveries of 2017, says Artsy. The website frames these discoveries, including three 3,500-year-old tombs in Thebes and the 26-foot statue pulled out from underneath Matareya, as part of a “concentrated effort to promote tourism.” Meanwhile, a chariot and two […]
Posted inEGYPT IN THE NEWS
Other international coverage
Other international headlines worth noting in brief include: “Alexandria, which has reinvented itself frequently over the centuries, still delights,” Lucas Peterson writes for The New York Times recounting his trip to the coastal city. Cyprus, Greece and Egypt have signed an agreement that aims to bring Cypriots and Greeks who used to live in Alexandria, […]
Posted inDiplomacy + Foreign Trade
Egypt can be a leader in transforming intra-African trade
Egypt can be a front-runner in transforming intra-African trade and boosting innovation and industrialization on the African continent, MD of Intra-African Trade Initiative at Afreximbank says. “With the new significant policy shift toward export promotion, especially within Africa and capitalizing on regional trade agreements, like COMESA and the upcoming Continental Free Trade Area, an improved […]
Posted inDiplomacy + Foreign Trade
Belarus wants its citizens to be able to apply for Egypt’s e-visa
Tourism Minister Yehia Rashed met with Belarus’ ambassador to Cairo Sergei Rachkov, according to a release from the Belarusian Foreign Affairs Ministry. The pair discussed a number of issues, including “the issue of adding the Republic of Belarus to the list of countries whose citizens have the right to apply for e-visa for entry Egypt […]