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Ride-hailing app Careem will be managing its cash inflows and payments using CIB’s Smart Wallet app under a new agreement the two organizations signed yesterday, Al Borsa reports. The agreement will also allow Careem to pay out bonuses and special incentives to its drivers using the platform.
Author Archives: enterpriseam admin
Posted inLegislation + Policy
Criminal Procedures Act still being studied
The House of Representative’s Legislative Committee is studying proposed amendments to the Criminal Procedures Act before putting together an updated draft, according to Al Shorouk. Chief amongst the proposals are changes that would allow more avenues of mediation outside the courts system, including for murder cases. Other aspects being addressed include the abolition of convictions […]
Posted inEgypt Politics + Economics
Gov’t working out a two-year plan to manage domestic, foreign debt
The government is currently working on a strategy to reduce Egypt’s domestic and foreign debt levels, and a framework for paying debt obligations over the coming two years, Finance Minister Amr El Garhy said yesterday, according to a ministry statement. The Finance Ministry has presented a draft plan to Cabinet, according to El Garhy.
Posted inSports
Calls for Aboutrika to join Egypt squad ignite debate
A hashtag calling for exiled soccer star Mohamed Aboutrika to come out of retirement for the 2018 World Cup has gone viral has ignited a firestorm of a debate across the country, according to Fox Sports. While Aboutrika responded in a gentlemanly way to the calls, that hasn’t stopped the debate turning political with many […]
Posted inON YOUR WAY OUT
On this day: 17 October
ON THIS DAY- On this day in 1968, the famed 1968 Olympics Black Power salute took place at the 1968 Summer Olympics in the Olympic Stadium in Mexico City. Athletes Tommie Smith and John Carlos, gold and bronze medallists in the 200m, stood with their heads bowed and a black-gloved hand raised as the American […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.5937 | Sell 17.6937 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.6 | Sell 17.7 EGX30 (Monday): 13,525 (-2.7%) Turnover: EGP 1.4 bn (52% above the 90-day average) EGX 30 year-to-date: +9.6% THE MARKET ON MONDAY: The […]
Posted inCALENDAR
17 October (Tuesday): The Narrative PR Summit, Four Seasons Nile Plaza, Cairo. 18-19 October (Wednesday-Thursday): Middle East Info Security Summit, Sofitel El Gezirah, Cairo. 18-20 October (Wednesday-Friday): AfriLabs annual gathering with the theme “Future of Cities: Innovation, Spaces and Collaboration,” The French University, Cairo. Register here. 21 October (Saturday): The African Leadership Academy will hold […]
Posted inSpeed Round
Trump’s stance on Iran nuclear deal creating “chasm” with allies
Trump’s stance on Iran nuclear deal creating “chasm” with allies: US President Donald Trump’s attitude towards the Iran nuclear power agreement is creating “a widening chasm of mutual disdain between the United States and its traditional allies,” Karen DeYoung writes for the Washington Post. The countries that signed the 2015 agreement — France, the UK, […]
Posted inSpeed Round
UberEats seeing strong growth this year
Uber’s food delivery platform UberEats has been going strong, accounting for c. 10% of the ride-hailing app’s total bookings, or around USD 3 bn in sales, sources close to the matter tell the FT (paywall). The budding food delivery business is a diamond in what has been a rough year for Uber, growing even faster […]
Posted inSpeed Round
EU debates Turkey’s membership this week
EU leaders are getting together this week to discuss allowing Turkey to join their bloc, according to the FT (paywall). Turkey has been trying and failing to meet the EU’s entry requirements for years. Many EU governments are critical of the country’s human rights record, but Turkey is key to stemming the flow of illegal […]