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We are now entering into the third wave of fintech, Jeff Gido, global head of the Financial Technology sector in Goldman Sachs’ Investment Banking, said in a recently emailed note. “If the first wave was characterized by startups attempting to disrupt traditional financial services, and the second wave was when incumbents began to fight back […]
Author Archives: enterpriseam admin
Posted inImage of the Day
New and improved Kebash road to reopen in early 2018
New and improved Kebash road to reopen in early 2018: The 5,000 year-old Kebash Road in Luxor, which links the Karnak and Luxor temples, is going to reopen to visitors in early 2018, according to Al Masry Al Youm. The Antiquities Ministry is hoping that EGP 240 mn in upgrade work will restore the old […]
Posted inEGYPT IN THE NEWS
Regeni’s lawyer’s detention tops foreign coverage of Egypt
Topping coverage of Egypt in the foreign press this morning is the news that Italian student Giulio Regeni’s lawyer Ibrahim Metwally is being charged with disseminating false news. The Guardian, The Independent, and The National all have the story. US officials and members of Congress would be wise to decline Ikhwan member Amr Darrag’s request […]
Posted inDiplomacy + Foreign Trade
Mamish signs agreements with Bavaria to construct 5 factories in East Port Said
Suez Canal Economic Zone head Mohab Mamish signed yesterday five agreements with Bavaria to establish five factories to manufacture tractors, buses, irrigation systems, and armored doors in the East Port Said industrial zone, Al Masry Al Youm reports. Construction on the factories is expected to begin in January 2018. There is no word yet on […]
Posted inEnergy
Electricity Ministry tasks security entity with collecting payment from users
Collecting electricity meter payments will be managed by a higher state security institution, Electricity Minister Mohamed Shaker said, according to Al Masry Al Youm. Shaker says the Ministry faced a lot of challenges in collecting the payments as it lacked the sufficient workforce.
Posted inManufacturing
Panasonic plans to double its business in Middle East, Africa
Panasonic is planning to more than double its Middle East and Africa business in its current fiscal year, which ends in March 2018, Hiroki Soejima, managing director of Panasonic Marketing Middle East and Africa, told Gulf News. Soejima sees Panasonic relying more on business-to-business segments, instead of consumer electronics. “The company plans to introduce products […]
Posted inManufacturing
Indian companies to cooperate with Egyptian textile manufacturers
An unnamed Indian company is planning to invest EGP 40 mn in Egypt’s textile sector, and will increase its investment to EGP 60 mn later on, Indian Ambassador to Egypt Sanjay Bhattacharyya said, Al Shorouk reports. 37 Indian textile companies are participating in Cairo Fashion and Tex Exhibition and India have “vowed to step up […]
Posted inReal Estate + Housing
Baron’s Court announces third phase of Alex West
Baron’s Court Sports & Leisure Company has announced that the third phase construction on its EGP 50 bn Alex West development has begun. The company has invested some EGP 12 bn into the development, Al Mal reports.
Posted inTourism
Egypt on the board of World Tourism Organization
Egypt has won a four-year seat on the Executive Board of the UN’s World Tourism Organization for the Middle East,according to an official statement. Egypt won the seat at the UNWTO’s meeting in China; the next meeting will be held in Egypt mid-2018.
Posted inTelecoms + ICT
MTI signs agreement to distribute Freetel Japan mobile phones in Egypt
MM Group for Industry and Trade (MTI) announced yesterday (pdf) that it signed an agreement with Plus One Marketing Ltd. (Freetel Japan) to become an authorized retailer of the company’s mobile phones in the Egyptian market. The devices will hit the shelves before the end of September and are expected to add more than EGP […]