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IFC committed USD 1.7 bn in funding to MENA private-sector projects in FY2016-17: The World Bank Group’s International Finance Corporation (IFC) announced yesterday (pdf) that it committed USD 1.7 bn to private-sector projects in the MENA region in the fiscal year ended on 30 June. The amount — which exceeds the previous year’s USD 1.3 […]
Author Archives: enterpriseam admin
Posted inSpeed Round
CIB partners with Orange Business Services
CIB partners with Orange Business Services to develop fintech ecosystem: Our friends at CIB are teaming up with Orange Business Services’ Digital Lab to develop a new fintech ecosystem geared towards increasing Egyptian entrepreneurs’ access to banking and financial services, CIB announced in a statement yesterday.
Posted inSpeed Round
Egypt BoP nets USD 13.71 surplus in FY2016-17
Egypt’s balance of payments report for fiscal year 2016-17 is out. Here’s what you need to know: The carry trade boomed post-float as foreign investors looked to take advantage of high interest rates here. Oil and gas investment led a surge in FDI. Exports started to pick up. Tourism did reasonably well, all things considered, […]
Posted inSpeed Round
18 policemen dead, seven injured in Daesh attack on North Sinai
Another Daesh attack on North Sinai leaves 18 policemen dead, seven injured: At least 18 policemen were reported killed and seven others injured when Daesh terrorists attacked a convoy in North Sinai yesterday, the Associated Press reports. “Among those killed were two police lieutenants. The wounded included a police brigadier general,” according to unnamed security […]
Posted inSpeed Round
Ikhwan asset freeze committee’s decisions granted immunity against appeals
A Cairo criminal court decision has strengthened the power of the committee tasked with seizing Ikhwani assets, Ahram Online reports. The order, which was published on the Official Gazette on Monday, grants the committee’s decisions immunity from appeals. It also brings the committee under the jurisdiction of the head of Cairo Court of Appeals. Last […]
Posted inSpeed Round
Egypt to cooperate with South Korea on DPRK, to open defense attaché office in Seoul
Are you keeping an eye on this, Mr. Tillerson? Egypt took a major step yesterday toward breaking ties with North Korea when the Egyptian and South Korean defense ministers signed an agreement yesterday to “deepen the partnership between their countries on North Korea and arms development,” according to Yonhap News Agency. “Egyptian Defense Minister Sedki […]
Posted inSpeed Round
An Gulfie in Israel, BP’s US IPO and a new Ferrari
Elsewhere on the international front this morning: “A gulf Arab political figure visited Israel last week… reinforcing Prime Minister Benjamin Netanyahu’s recent claim that relations with Arab states have never been better,” Bloomberg reports. BP has filed with the US Securities and Exchange Commission to raise up to USD 100 mn in an IPO of […]
Posted inUncategorized
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Posted inImage of the Day
Egyptian Author Magdy El Shafie’s graphic novel Metro was written, published, and banned in 2008
Egyptian Author Magdy El Shafie’s graphic novel Metro was written, published, and banned in 2008 for telling “the story of a bank robbery and two friends in Mubarak’s corrupt, oppressive Egypt.” Graphic novels are growing in popularity in Africa, according to The Herald, which claims to have a roundup here of the best and most […]
Posted inEGYPT IN THE NEWS
Roadside explosion that killed 18 police makes top news
A terror attack on security forces in North Sinai that killed at least 18 members of the police service and injured around a dozen others yesterday made top headlines on Egypt in the foreign press this morning. Wire services including Reuters, Xinhua, and Anadolu Agency picked up the story. Russia’s Sputnik and the Financial Times […]