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The EGX has reinstated Shuaa Capital as a company authorized to trade securities on the market, according to a bourse statement. Shuaa had said it was looking to re-enter the Egyptian market last August.
Author Archives: enterpriseam admin
Posted inBanking + Finance
HC to increase assets under management to EGP 5.5 bn
HC Securities is planning on increasing its assets under management 20% to EGP 5.5 bn next year, Vice President Mohamed Metwally told AMAY. Separately the company is currently advising on M&A eight transactions this year.
Posted inOther Business News of Note
Investment Ministry aiming to bring the total number of investment zones to 27
The Investment Ministry is planning on bringing the number of investment zones nationwide to 27, up from a current 16 zone with 261 projects, Investment Minister Sahar Nasr told Youm7.
Posted inOther Business News of Note
Suez Canal revenue for October at USD 474 mn
Suez Canal revenues grew 13.3% y-o-y in October came to USD 474 mn, said Suez Canal Authority head Mohab Mamish according to Al Shorouk.
Posted inLegislation + Policy
Data protection bill might ban e-marketing messages
A draft data protection law is currently being reviewed by committee in the House of Representatives, Soliman, Hashish & Partners’ Mohamed Hashish writes in Lexology. “According to the proposed Draft Data Protection Law, a number of disclosure requirements shall be made as well as a prior explicit approval from the person owning the data shall […]
Posted inLegislation + Policy
House Transport Committee objects to law establishing commercial transport authority
The House Transport Committee objected to a bill drafted by the Ismail cabinet to establish a commercial transport authority to regulate transportation between governorates, warning it may reject the legislation altogether, Al Mal reports. The draft law would require taxi and microbus drivers to pay more fees, including to receive a special license to operate […]
Posted inEgypt Politics + Economics
Corruption case ordered to a retrial
The Court of Cassation has accepted the appeal of former Irrigation Minister Mohamed Nasr El Din Allam and ordered a retrial, Xinhua reports. The decision also means his seven year jail term from February has been set aside.
Posted inEgypt Politics + Economics
Police arrests 10 Nubian protesting Sorour’s death
Police have arrested 10 Nubians for taking part in a protest over the recent death in detention of Nubian activist Gamal Sorour, officials told The Associated Press. “The officials say those arrested are accused of protesting illegally and disrupting public order… They face charges of participating in an unauthorized demonstration and disrupting public order.”
Posted inNational Security
HR groups file criminal complaint over sale of surveillance technology
The Cairo Institute of Human Rights Studies and international human rights groups have filed a criminal complaint over the sale of French surveillance technology to Egypt by Nexa Technologies, according to the AP. The complaint claims the sale amounts to assisting oppression in the country.
Posted inON YOUR WAY OUT
Alex Angels invests in VOO
Alexandria Angels made its first investment, injecting funds into the on-demand delivery app VOO, according to Forbes Middle East. “VOO is a Cairo-based startup that connects part-time and freelance couriers with users in need of items picked-up or delivered in the greater Cairo area.” Alexandria Angels founder Tarek El Kady says his priority remains investing […]