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Indian automaker Mahindra & Mahindra inaugurated its new Egypt headquartersyesterday, Al Borsa reports. The new premises will serve as the company’s regional office for North Africa, overseeing all operations including the manufacturing of cars, farming machinery and equipment, and building materials. We had noted in October that the Indian automaker was finalizing its entry back […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt jumps 23 places in Climatescope 2017 report
Egypt gained a whopping 23 places on Bloomberg’s Climatescope 2017 annual report to rank 19th out of the 71 nations assessed for progress made towards clean energy transition and on clean energy investment. “[Egypt’s] significant progress was largely due to the surge in clean energy investment to some USD 745 mn in 2016 from almost […]
Posted inSpeed Round
France pushes for UN Security Council sanctions against Libyan human traffickers
France is proposing that the UN Security Council impose targeted sanctions on human traffickers operating in Libya, Reuters reports. The call comes after CNN aired a documentary earlier this month that allegedly showed “an auction of men to Libyan buyers as farmhands and sold for USD 400 each.” French Ambassador to the UN François Delattre […]
Posted inUncategorized
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Posted inImage of the Day
The two Egyptian-born Englishmen who sell falafel out of a truck in Leeds
Meet The Falafel Guys, the two Egyptian-born Englishmen who sell Falafel out of a truck in Leeds. Ahmed and Abd Allah Gouda hold degrees in international business management and mechanical engineering, but for this past year the two brothers have been answering their true calling: Selling falafel made off for their mother’s recipe out of […]
Posted inEGYPT IN THE NEWS
CBE scrapping deposit and withdrawal limits for companies tops Egypt’s int’l coverage, followed by Friday’s terror attack
Topping coverage of Egypt in the international press this morning is news that thecentral bank has lifted caps on USD withdrawals and deposits for importers of non-essential commodities, which we have full details on in the Speed Round, above. The Financial Times (paywall) notes that the move comes “a year after Egypt floated its currency […]
Posted inEGYPT IN THE NEWS
Other headlines worth noting in brief:
Also worth a skim this morning: One man’s business is booming on the back of economic difficulties that are prompting Egyptians to buy and restore old, damaged cars, says Africa News. Amnesty International issued a statement condemning the sentencing of more than a dozen Egyptians to three years in prison for debauchery, calling it an […]
Posted inWorth watching
Iconic Egyptian actress Shadia passes away at age 86
Iconic Egyptian actress Shadia passed away last night at the age of 86, Al Masry Al Youm reports. The cinematic legend’s passing comes after a 15-day struggle following a stroke, according to the newspaper. Shadia had an illustrious acting career that began when she was 16 years old and ended in 1986 with more than […]
Posted inDiplomacy + Foreign Trade
Egyptian security delegation meets with Fatah, Hamas officials in bid to mediate differences
An Egyptian security delegation arrived in Gaza to continue mediating talks between Hamas and Fatah after developments on the ground threatened to derail a recent reconciliation drive, Asharq Al-Awsat reports. Egyptian officials, including General Intelligence Service General Hammam Abou Zeid, met separately with Hamas and the PLO to work through outstanding issues with the agreement, […]
Posted inEnergy
Elsewedy clarifies it is still in talks with NREA over Gulf of Suez wind farm
Elsewedy Electric issued a clarification to the bourse yesterday explaining that it was still in talks with the New and Renewable Energy Authority over a wind farm project in the Gulf of Suez. The statement, which was issued in response to a query from the bourse, comes after sources claimed just a day before that […]