Author Archives: enterpriseam admin

Could the attack help lift a freeze on military aid from the US? “The 24 November attack on an Egyptian mosque in northern Sinai that killed at least 305 men, women and children is an example of why the United States must remain involved in the Middle East,” Department of Defense spokesperson Rob Manning said […]

Investment Minister Sahar Nasr signed an MoU with the International Finance Corporation (IFC) yesterday that will see both sides cooperate on the development of a sustainable national strategy to attract more foreign investment to Egypt. The agreement was inked on the sidelines of the first day of the IFC’s two-day roundtable in Cairo focused on […]

CDCM pursues legal action against Peugeot: Arabia Investments, Development and Financial Investment Holding Company (AIND) announced yesterday that subsidiary Cairo For Development and Cars Manufacturing (CDCM) has formally started legal proceedings against Peugeot Citroen for unexpectedly ending their 41 year-old partnership. The group hired attorney Ashraf Yehia, an international arbitration expert, to take on the […]

LEGISLATION WATCH- House gives preliminary nod to amendments to law governing nuclear power authority amid disagreement over clauses on autonomy and tax breaks: The House of Representatives’ general assembly gave a preliminary nod yesterday to amendments to the law governing the Nuclear Power Plant Authority (NPPA), postponing the final vote to a later session to […]

Polish tourists accounted for more than 121,000 of the 4.3 mn visitors Egypt welcomed in 2017, Polish Tourism Chamber head Paul Niewiadomski announced yesterday, Egypt Independent reports. That makes it the sixth-largest tourism market for Egypt, Niewiadomski said at the Polish Chamber of Tourism’s annual conference in Marsa Alam. Tourism Promotion Authority head Hisham El […]

MOVES- Deutsche Bank has named Ahmed Shehab its new head of trade finance for financial institutions in the Middle East, North Africa and Turkey, Reuters reports. Shehab will be based in Egypt.

EFG Hermes, Sawiris Foundation commit north of EGP 50 mn to rebuild two Luxor villages: EFG Hermes signed an agreement with the Sawiris Foundation for Social Development yesterday, under which it plans to launch a EGP 53 mn comprehensive development plan for two Luxor villages, according to a press statement. Both densely populated villages suffer […]

Hamas is refusing to disarm and has instead “vowed to expand its military activities against Israel into the West Bank, The Associated Press reports. The group’s demilitarization was one of the main demands Palestinian President Mahmoud Abbas’ Fatah party made in the Egypt-mediated reconciliation agreement. However, a senior Hamas official says the group’s weapon arsenal […]

Kenya mulls return to int’l bond market with USD 2 bn eurobond issuance in 1Q2018: The Kenyan government has tapped a number banks for pitches on the structure of a potential USD 2 bn eurobond offering in 1Q2018, sources familiar with the matter tell Bloomberg. “Kenya’s return to international capital markets would mark its first […]

Israeli courts banned Uber from operating private car services in the country, Bloomberg reports. Uber’s standard platform has always been banned in Israel, which has laws barring drivers without a taxi license from accepting charges. The Uber workaround in their UberNight and UberDay services in Israel was essentially a reimbursement scheme where charges were defined […]