Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Tourism receipts almost tripled and remittances rose in the last three months of FY2016-17, “marking another step in [Egypt’s] economic recovery,” Mirette Magdy writes for Bloomberg. “The data is further evidence of a gradual improvement in Egypt’s external finances,” she writes. Arqaam Capital senior economist Reham Eldesoki agrees, saying the “main foreign-currency earners are finally […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Unemployment rate down to 11.98%
The unemployment rate dropped to 11.98% in 2Q2017 from 12.5% a year earlier, according to a CAPMAS report. The number of Egyptians counted as unemployed dropped by 64k y-o-y to 3.496 mn with the labour force growing by 651k y-o-y to 29.183 mn. It’s the first time since 2011 that the unemployment rate has fallen […]
Posted inSpeed Round
Sahar Nasr meets with EBRD in London, tells CNBC economic reforms are paying off
Nasr talks future cooperation with EBRD officials in London: Investment Minister Sahar Nasr met top officials at the European Bank for Reconstruction and Development in London on Tuesday, according to a statement on the ministry's website. Discussions centered around potential cooperation on upcoming projects, such as Kitchener drainage project in Kafr Sheikh. EBRD currently finances […]
Posted inSpeed Round
Government inks agreement with China’s AVIC for electrical rail line
China’s AVIC lands Salam City-New Capital electric rail contract: The National Authority for Tunnels (NAT) signed an agreement yesterday giving China’s AVIC a significant chunk of a new electric rail line linking Salam City with Tenth of Ramadan and the new administrative capital, according to a cabinet statement. AVIC will deliver the rail line’s communication […]
Posted inSpeed Round
Earnings Watch: EFG Hermes, Beltone Financial, OTMT, Orascom Development Egypt, TE, Domty
EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest from continued operations of EGP 395 mn in 2Q2017, up 718% y-o-y. EFG Hermes said its operating revenues increased by 252% to cross the EGP 1 bn in 2Q2017. “Our strategy to diversify our lines of business has started to create significant […]
Posted inSpeed Round
Air Berlin files for insolvency, flights to continue for now
German carrier Air Berlin has filed for insolvency “after its main shareholder Etihad declared it would not be providing further financial support,” BBC reports. The airline, Germany’s second-largest carrier, reported a record loss of EUR 782 mn in 2016. Air Berlin flights will continue using a EUR 150 mn loan from the German government. Lufthansa […]
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
Three 2,000-year-old tombs discovered in Upper Egypt
Archaeologists have discovered three 2,000+ year-old tombs in Minya, according to a statement from the Antiquities Ministry. Sarcophagi of different shapes and sizes, and clay fragments from between the 27th Dynasty and the Greco-Roman period, were found at the Al-Kamin Al-Sahrawi site, pictured above. The story is topping international media coverage of Egypt this morning […]
Posted inEGYPT IN THE NEWS
Of tombs, ambassadors and dissent
Heading into this morning, the discovery of three Ptolemaic-era tombs in Minya swept news about Italy’s ambassador returning to Egypt after over a year of absence out of the top spot, having been picked up by BBC, Newsweek, Xinhua, and the American Institute of Archaeology. The return of the Italian ambassador as the diplomatic rift […]
Posted inOn Deadline
Changing presidential terms risks engendering a lack of faith in Egypt’s institutions
Changing presidential terms risks engendering a lack of faith in Egypt’s institutions: Opinion writers are continuing to voice opposition to any move that would amend the constitution to allow the president to serve a longer term in office. Ziad Bahaa El Din chalks up the entire situation as a general lack of respect for the […]