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Chilling (but unsurprising) factoid of the Sharm financial inclusion gathering: Only 29% of adults in the Arab world have access to financial services, against 69% in Asia-Pacific, according to Al Maghrib Abdellatif Jouahri, chairman of the Union of Arab Banks. Just as bad: Only one of every five SMEs is able to access bank financing […]
Author Archives: enterpriseam admin
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
A view of the Nile river at night, as seen from outer space
Russian cosmonaut Sergey Ryazanskiy captured an image of the Nile at night — as viewed from space — surrounded by lights that are just as bright from outer space as they are from Cairo’s streets. The image is both a pretty aerial view of the river and a visual representation of how dense the population […]
Posted inEGYPT IN THE NEWS
Morsi’s 25-year prison sentence in Qatar espionage case tops Egypt coverage
Topping coverage of Egypt in the foreign press this morning is former president Mohamed Morsi receiving a 25-year prison sentence in the Qatar espionage case. The final ruling, which the Court of Cassation issued yesterday, reduced the sentence from an original of 40 years, Reuters reports. Egypt is giving privatization and economic reforms another go, […]
Posted inOn Deadline
With no competition, next year’s presidential elections will be a farce
With no candidates to rival President Abdel Fattah El Sisi, next year’s presidential elections will make people unmotivated to actually go out and vote, which would undermine the legitimacy of the process as a whole, Abdullah El Sennawy writes for Al Shorouk. The lack of pluralism amounts to a breach of the constitution and will […]
Posted inWorth watching
What would you do onstage for your shareholders?
The Arab world is home to the worst AGMs, but China is home to the most unusual: It’s a known fact that the worst-ever AGM was held in Kuwait a couple of years back, and featured both chair-throwing and the arrival of the local constabulary. (Sadly, Youtube video of the gathering — our most-clicked video […]
Posted inDiplomacy + Foreign Trade
Ties with Egypt in “crisis,” Sudan says
Ties between Egypt and Sudan are going through “a crisis” because of the issues surrounding the Halayeb Triangle and Egypt’s “restrictions” on Sudanese miners there, Sudan’s Foreign Affairs Ministry said, according to Ashorooq. A senior official at the ministry said he hoped the issues are resolved soon, but reiterated Sudan’s claims over the Halayeb Triangle. […]
Posted inEnergy
Elsewedy awarded solar project in Benban, costs USD 70 mn
Elsewedy Electric was awarded a photovoltaic solar energy power plant project in Benban, Aswan, under the second phase of the feed-in tariff program, according to a bourse release. The project comes at an investment cost of USD 70 mn and will produce 65 MW annually. Project funding will be provided by the European Bank of […]
Posted inEnergy
IOCs raise investments in Egypt to USD 10 bn this year - El Molla
International oil companies have raised their investments in Egypt to USD 10 bn this year on the back of payments the government have been making to arrears it owes them, Oil Minister Tarek El Molla tells Al Borsa on Saturday. Arrears had fallen to USD 2.3 bn, the lowest it has been since 2013, El […]
Posted inEnergy
BP says production from Zohr set to begin before year end
BP says it is on track to begin production from Zohr before the end of the year, according to comments made by BP CEO Bob Dudley to Reuters. BP completed the acquisition of 10% of Eni’s stake in the Zohr gas field in February, and Rosneft also owns a stake in the field.