Author Archives: enterpriseam admin

INVESTMENT WATCH- The Khamis family’s Orientals Urban Development plans to invest at least EGP 3 bn in projects based in new cities next year, Oriental Weavers founder Mohamed Farid Khamis tells Al Mal. Orientals Urban is also planning to begin working on the EGP 450 mn Side Walk Mall in New Cairo alongside real estate […]

Banks should support new SMEs that do not have extensive credit or operational history, central bank Governor Tarek Amer said yesterday, according to Al Masry Al Youm. Amer also criticized the concentration in some of the banks’ lending portfolios, calling on them to diversify more. He added that he would like to see banks create […]

EgyptAir flew to Tokyo from Cairo yesterday for the first time following a four-year suspension, Ahram Gate reports. The flight was originally intended to depart on Saturday but was postponed to Sunday due to bad weather conditions at Tokyo’s Narita International Airport. EgyptAir will run direct flights to Tokyo every Saturday and will consider additional […]

MOVES- Till Klauss was appointed hotel manager of the Four Seasons Hotel Alexandria at San Stefano, according to Trade Arabia. Klauss “will assist in uplifting the Alexandrian culinary scene in addition to elevating the guest experience, the hotel said in a statement.”

EARNINGS WATCH- Cheesemaker Domty (Arabian Food Industries Company) reported a net profit of EGP 22 mn in 3Q2017, up from EGP 10 mn in 3Q2016. Revenues for the quarter recorded EGP 680 mn, up from EGP 453 mn in the same period last year, the company said in an earnings release (pdf).

Sheikh Tamim bin Hamad Al Thani would really like it if the Arab Quartet were to refrain from bombing, invading or otherwise doing anything that might interrupt his lunch plans. “Qatar’s emir has warned against any military confrontation over the ongoing diplomatic dispute between his country and four other Arab nations, saying it would only […]

Thousands gathered yesterday in Barcelona, Catalonia’s capital, in support of Spanish unity, Bloomberg reports. The demonstrations came as the Catalan government “dismissed Madrid’s direct administrative control” of Catalonia to reaffirm the region’s independence despite Spanish Prime Minister Mariano Rajoy dissolving the Catalan government 48 hours earlier. “The real test of strength for the two sides […]

Another small win for Saudi women: Nearly a monthafter the kingdom said it would grant (one day) women the right to drive, the Saudi crown has decided to lift a ban that had prohibited women from entering stadiums and attending public sporting events,Al Arabiya reports. Three stadiums — one each in Riyadh, Jeddah, and Dammam […]