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The Egyptian Financial Supervisory Authority and The Egyptian Credit Bureau (I-Score) signed an agreement yesterday that will see them establish a movable collateral assets registry, an Investment Ministry statement says (pdf). The registry, which will launch within six months, is expected to facilitate SME funding and aid the government’s financial inclusion efforts, as it will […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
SME Authority and Suez Canal Bank signed two agreements for EGP 100 mn
The Small and Medium Enterprise Authority and Suez Canal Bank signed two agreements worth EGP 100 mn for the financing of new and existing projects across the country, according to Youm7. The first EGP 50 mn in funding will go towards machinery and construction projects while the second going toward helping fund overdrafts on capital […]
Posted inBanking + Finance
EGX chief discusses setting up commodities exchanges with foreign counterparts
Newly-appointed EGX boss Mohamed Farid met with a number of other global bourse officials in Bangkok yesterday for the annual World Federation of Exchanges gathering to discuss the requirements to help Egypt set up its commodities exchange, according to an EGX statement.
Posted inLegislation + Policy
House studying legislation to regulate timeshare ownership in Egypt
The House of Representatives is planning on reviewing legislation that would regulate timeshare ownership in Egypt once the assembly reconvenes in October, House Tourism Committee member Ahmed Idris tells Al Mal. No details on what the legislation might entail was discussed.
Posted inLaw
Shalakany acts as sell side advisor for Sealed Air Corporation transaction with Bain
Shalakany Law Office announced it was Sealed Air Corporation’s sole sell side legal advisor for all Egyptian assets in its USD 3.2 bn sale of its Diversey Care division along with the food hygiene and cleaning business within its Food Care division to Bain Capital. Aly El Shalakany, the lead partner from Shalakany acting on […]
Posted inEgypt Politics + Economics
Hamdeen Sabahi says he won’t run for president in 2018
Former leftist presidential hopeful Hamdeen Sabahi said yesterday he would not be running in next year’s presidential elections, but would “continue [his] role as a revolutionary,” Al Masry Al Youm reports. Sabahi also said he would lend his support to any civilian candidate whose presidential platform will fulfill the goals of the January 2011 revolution. […]
Posted inEgypt Politics + Economics
Probationary measures on satirical group Atfal Shawera members lifted
A Cairo court lifted preventative probationary measures taken against members of the satirical singing quartet Atfal Shawera (Street Children) on Sunday, the group’s lawyer Amr Mohamed tells Ahram Online. The four members were arrested in May last year on allegations of attempting to provoke protests and were given conditionally release last September pending further investigation. […]
Posted inEgypt Politics + Economics
“Urfi” babies with foreigners get Egyptian citizenship
The Supreme Administrative court has ruled that children born to Egyptian mothers and foreign fathers under Urfi marriage contracts can have Egyptian citizenship,according to AMAY.
Posted inNational Security
10 suspected militants killed by security forces in Cairo, five policemen injured
Security forces killed 10 suspected Hasm militants during an exchange of gunfire in Cairo that also left at least five policemen injured, sources tell Reuters. The story is receiving widespread coverage in the foreign press from outlets including the Associated Press.
Posted inON YOUR WAY OUT
British Council opens call for applications under Newton-Mosharafa PhD scholarship
The British Council opened a new call for applications under theNewton-Mosharafa PhD scholarship programme, which covers study in the fields of sustainable water management and food production, energy, and affordable and inclusive healthcare. The application window will remain open until 2pm CLT on 15 October.