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Italian tire manufacturer Pirelli is reportedly considering starting a research a development center in Egypt within three years, according to Agenzia Nova. The center would be the first R&D center for that industry in Egypt.
Author Archives: enterpriseam admin
Posted inSpeed Round
Taxi ordering app Professional Taxi to launch before month end
Good luck with that: Taxi booking application Professional Taxi aims to start service before the end of the month, CEO Mahmoud Ahmed said in statements carried by Al Borsa. The company has 1,000 white taxis on its roster, all models from 2011 and up, and will offer a discounted rate of EGP 1.75 per km […]
Posted inSpeed Round
Other legal advisory news
TRANSACTION NEWS- Things lawyers would like you to know this morning: Matouk Bassiouny acted as the legal counsel, alongside Davis Polk, to Maersk Drilling in its divestment of its 50% stake in Egyptian Drilling Company. EGPC bought the stake for cash consideration of USD 100 mn to become the company’s sole shareholder. Shahid Law’s corporate […]
Posted inSpeed Round
Gastaut appointed Vodafone’s global director of IoT
MOVES- Former Vodafone Egypt CEO Stefano Gastaut was named Vodafone’s Global Director Internet of Things. Gastaut’s appointment is effective 1 January 2018. He was CEO of Vodafone Egypt from September 2016.
Posted inSpeed Round
Financial Regulatory Authority warns against soliciting Bitcoin investments
Financial Regulatory Authority (FRA) Chairman Mohamed Omran warned against calls to invest in cryptocurrencies, describing such a move as “fraud” and those who engage in it could be held liable under the law. In a statement on Tuesday meant to warn investors against rushing into Bitcoin-mania (Bitcoin prices breached USD 17,000 mark yesterday), Omran noted […]
Posted inSpeed Round
Houthis fire another rocket at Riyadh
Another ballistic missile fired by Houthi rebels in Yemen targeting the Saudi Arabian capital of Riyadh was shot down on Tuesday, Reuters reports. No casualties were reported from the attack, the second in as many months. US Ambassador to the United Nations Nikki Haley said the “bears all the hallmarks of previous attacks using Iranian-provided […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Global growth to continue outperforming expectations in 2018 -Hatzius
The global economy is on track to continue outperforming most predictions in 2018, says Goldman Sachs' Chief Economist Jan Hatzius. Global GDP growth is expected to come at 4% in 2018, above the long-term trend and bringing unemployment rates down, he says. Goldman Sachs is also bullish on emerging markets, saying that most EMs are […]
Posted inEGYPT IN THE NEWS
US Veep delaying trip to ME tops coverage
Topping coverage of Egypt in the international press this morning is US Vice President Mike Pence delaying his Middle East tour to January to attend the US tax vote. Plenty in the foreign press, including the AFP, continue to note that the delay comes amid a wave of anger in the region of the Trump […]
Posted inEGYPT IN THE NEWS
Daesh cannot be allowed to expand in Egypt, says Canada’s Defense Minister
Daesh “cannot be allowed to expand in Egypt,” Canada’s Defense Minister Harjit Sajjan said during a visit to the UAE, according to The National. “[Daesh] still has a presence in Sinai, and the responsibility to deal with this threat is in the hands of the Egyptian government,” Sajjan says. He also voiced concerns about returning […]