Author Archives: enterpriseam admin

MOVES- Prime Minister Sherif Ismail has appointed Khaled El Nashar Deputy Chairman of the Egyptian Financial Supervisory Authority (EFSA). Investment Minister Sahar Nasr says the government finalize appointments to EFSA’s board in November. El Nashar was an assistant to the Justice Minister who was previously the deputy chairman of EFSA in 2013, according to Ahram […]

EARNINGS WATCH- Qalaa Holdings reported a net loss after minority interest of EGP 2.8 bn in 2Q2017, compared to a loss of EGP 277.5 mn in 2Q2016. While net revenues grew 25% y-o-y in 2Q2017 to EGP 2.3 bn, the decision to fully impair Africa Railways’ assets in Kenya “took a heavy toll on [Qalaa […]

Does the UN have proof Egypt was buying arms from Pyongyang? A UN investigation into a shipment of North Korean weapons seized while trying to sail through Egyptian waters in August revealed that Egypt was the illegal shipment’s final destination. The investigation “uncovered a complex arrangement in which Egyptian business executives ordered mns of USD-worth […]

Terrorist group Hasm claimed responsibility for a small explosion at Myanmar's embassy in Cairo “saying it was in retaliation for that country's military crackdown on Rohingya Muslims,” Reuters reports. The “interior ministry has not commented on Saturday's blast, which local residents and media initially reported as probably the result of a faulty gas pipeline, but […]

Terror attacks in France, Canada: A French soldier shot dead a man who had stabbed and killed two women at Marseille’s main railway station yesterday “in what officials described as a ‘likely terrorist act,’” Reuters reports. Daesh claimed responsibility in a statement. Meanwhile, a suspected Islamist terrorist in Edmonton, Canada, stabbed a police officer and […]

US regulators unshackle AIG from “too big to fail” classification: In one of the bluntest-yet signs that financial crisis-era reforms are being unwound, the Financial Stability Oversight Council has removed AIG’s classification as “too big to fail.” The move would free the insurance provider from proposed capital surcharges and other federal restrictions on its business, […]

Regional malaise? Saudi Arabia’s non-oil economy is sputtering, with the latest data showing that “businesses and Saudi consumers were still struggling to cope with government policies. Private sector activity grew at an annual rate of 0.4 percent, compared with 0.9 percent in the previous quarter,” Bloomberg reports. Lest the Statelet of Qatar start feeling its […]

Political leaders in Catalonia are claiming the right to statehood after “a contentious referendum that was marred by violence,” BBC reports. Some 800 people were injured in clashes with police yesterday as they attempted to block the ballot for Catalonia’s independence, which the Spanish constitutional court had declared illegal. Catalan leader Carles Puigdemont reached out […]

CLARIFICATION- In our coverage of the CAPMAS national census we had stated that the number of married women aged 12 made up 18% of married women in Egypt, based on media reports including remarks on Saturday night by Planning Minister Hala El Said to CBC talk show host Lamees El Hadidy. A presentation of the […]