Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
The joint Egyptian-Saudi maritime transport committee began deliberations on the possible reopening the ferry route connecting Jeddah with Port Tawfiq in Suez during a meeting yesterday, according to Al Mal. The Egyptian side will prepare an MoU with the governing regulations to present to the Saudis before a decision is made.
Author Archives: enterpriseam admin
Posted inBanking + Finance
Foreigners eat up EGP 46.5 bn in T-Bills
Foreign holdings in Egyptian debt rose by EGP 46.5 bn in August to a total of EGP 277.3 bn since the EGP float last November,according to Al Borsa, which cites central bank data. Foreigners had snapped up EGP 61.5 bn of T-Bills in July, so demand has slowed down on a m-o-m basis.
Posted inBanking + Finance
EFG Hermes and Al Ahli Bank of Kuwait sign cooperation agreement
EFG Hermes Leasing signed an MoU with Al Ahli Bank of Kuwait-Egypt (ABK) that will see both collaborate on SME financing and support, Al Borsa reports. The agreement is part of efforts to diversify ABK’s means of involvement in SME financing.
Posted inOther Business News of Note
OTMT buys City Stars out of Giza Plateau sound and light development project
Orascom Telecom Media and Technology Holding (OTMT) bought out City Stars Properties’ share in the Sound and Light Cinema Company’s (SLCC) development project at the Giza plateau, SLCC Chairman Nagwa El Shazli said yesterday. OTMT will help develop and run the sound and light show, in partnership with Prism Entertainment, under an agreement that will […]
Posted inLegislation + Policy
Justice Ministry prepares draft law criminalizing underage marriage
The Justice Ministry is working on a draft law that would criminalize underage marriage by considering it a form of [redacted] trafficking, Al Ahram reports. The law would impose prison sentences and fines on all those found guilty of facilitating an underage marriage, including the legal officiant (ma’zoun) or lawyer responsible for filing the paperwork […]
Posted inEgypt Politics + Economics
Court of Cassation sentences six policemen to prison for beating worker to death
The Court of Cassation sentenced yesterday six members of the police force to prison for beating to death a worker in a Luxor police station, the Associated Press reports. The court sentenced police officer Samir Hani to seven years in prison and five other policemen to three years each. Yesterday’s ruling, “a rare decision against […]
Posted inEgypt Politics + Economics
France to return eight artefacts to Egypt
France is expected to return today eight 3,000-year-old artefacts to Egypt that had been held at French customs since 2010, the European and Foreign Affairs Ministry announced yesterday, Al Shorouk reports.
Posted inON YOUR WAY OUT
EGX to head World Federation of Exchanges EM group
Egypt will head the World Federation of Exchanges’ Emerging Market Working Group for the next two years, the EGX announced. The Group is responsible for improving the performance of emerging markets exchanges and looking into ways to increase their liquidity and attract more funds.
Posted inON YOUR WAY OUT
Rock legend Fats Domino dead at 89
Rock ‘n’ roll legend Fats Domino passed away on Tuesday at the age of 89 in his Louisiana home, according to the NYT. One of the earliest faces of rock ‘n’ roll, the New Orleans native and blues master amassed 23 Gold Records throughout his career of writing and singing “songs that carry a good […]
Posted inON YOUR WAY OUT
On this day: 26 October
ON THIS DAY- On this day in 1954, former President Gamal Abdel Nasser survived an assassination attempt by a member of the Ikhwan while giving a speech in Alexandria. Not so lucky was South Korean President Park Chung Hee, who in 1979, was assassinated by who Encyclopedia Britannica describes as “his lifelong friend Kim Jae […]