Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Youth unemployment has hit 26.7%, according to a report from CAPMAS on Saturday. Some 37.7% of unemployed young people hold university degrees. Those aged 19-29 make up 23.6% of the population. Egypt’s overall unemployment rate for 1Q2017 stood at 12%.
Author Archives: enterpriseam admin
Posted inSpeed Round
Alwaleed Bin Talal says Egypt is safe for tourism, investments
Alwaleed to invest in Egypt, promotes tourism: Globally prominent Saudi businessman Alwaleed bin Talal has a message for the world this morning: “Egypt will remain safe for tourism and investments.” The 62-year-old Saudi investor and prince demonstrates it — by leading people up hills. In volleyball. In waterskiing. On a bicycle ride. Quite often while shirtless. […]
Posted inSpeed Round
LNG cargo purchases to drop to 80 in the current fiscal year -El Molla
Egypt plans on buying just 80 LNG cargoes in FY2017-18, down from 118 in FY2016-17, Oil Minister Tarek El Molla said, according to Reuters. The initial projection for FY2016-17 was to buy 154 LNG cargoes, but an increase in domestic production drove the actual purchases down to 118, he says. Egypt expects natural gas production […]
Posted inSpeed Round
ENR head resigns, train wreck crews detained, “selfie medics” punished following social media uproar
ENR head resigns, prosecution detains drivers and assistants pending further inquiry into Friday collision: The Head of the Egyptian National Railways (ENR), Medhat Shousha, was relieved from his duties on Sunday, Transport Minister Hisham Arafat told the press, according to Reuters. The minister told talking heads that Shousha had submitted his resignation last Thursday, before […]
Posted inSpeed Round
Ahmed Zaki Abdeen appointed Chairman of New Administrative Capital Company
MOVES- Former local development minister Ahmed Zaki Abdeen was appointed Chairman of the New Administrative Capital Company for Urban Development, Al Borsa said yesterday, citing an Ittihadiya statement. The retired military general was head of the Armed Forces Engineering Authority and had previously served as governor of Beni Suef and Kafr El Sheikh.
Posted inSpeed Round
Earnings watch: Porto Group, Arabian Cement Company
EARNINGS WATCH- Arabian Cement Company reported a consolidated net profit after tax in 2Q2017 of EGP 12 mn, down from EGP 109 mn in 2Q2016, according to the company’s financial statements. Revenues for 2Q2017 fell to EGP 541 from EGP 574 mn during the same period last year. Porto Group reported 1H2017 consolidated net profit […]
Posted inSpeed Round
No boycott of US companies doing business with Qatar -sources
US companies doing business with Qatar will not be punished by countries leading a boycott of the tiny Gulf state, sources told Reuters. Saudi Arabia, the UAE, Egypt, and Bahrain sent a letter to US State Secretary Rex Tillerson “in July reassuring him that US companies would not be discriminated against as part of the […]
Posted inSpeed Round
Uber board fighting getting nasty
Uber board fighting getting nasty: A group of minority shareholders in Uber delivered a petition to majority shareholder Benchmark Capital yesterday asking that it sell at least 75% of its stake and step off the board. The petition is the latest act “in a boardroom drama that threatens to tear apart Silicon Valley’s most highly […]
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 inTHE MACRO PICTURE
MENA region’s entrepreneurial ecosystem looks set to rapidly flourish
The MENA region’s entrepreneurial ecosystem looks set to rapidly flourish, with key investments from major international players and a move towards a more diversified product offerings, according to Forbes Middle East. Some 3,000 new startups were reportedly launched during the previous year, garnering around USD 870 mn in new investments, according to TechCrunch. Among the […]