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Israeli firms developing the Leviathan gas field are trying to find a way around the financial disputes blocking their export agreement with Egypt, according to Bloomberg. The developers are reportedly discussing ways to reroute the gas through a pipeline in neighboring Jordan, operated by Jordanian Egyptian Fajr for Natural Gas Transmission & Supply. While the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Cabinet roundup
CABINET MEETING ROUNDUP- Prime Minister Sherif Ismail directed ministers to draft their fall legislative agenda. Other developments at yesterday’s rather boring weekly meeting of the Council of Ministers included: Approving amendments to the Penal Code that allow for a rehabilitation and reintegration program for convicts; Approving a USD 10 mn agreement signed in May between […]
Posted inSpeed Round
Egyptian public figures rally behind former Bib Alex chief in corruption case
A number of leading public figures signed a petition on Wednesday backing former Bibliotheca Alexandrina head Ismail Serageldin, who was recently sentenced to a three-year term in prison on graft charges, Al Masry Al Youm reports. The list of signatories includes ex-foreign minister Amr Moussa, former National Council of Women chief Moushira Khattab, NASA scientist […]
Posted inSpeed Round
MPs pull the mother of gaffes when addressing the US
MPs pull the mother of gaffes when addressing the US: Now they’ve done it. It’s bad enough that MPs embarrass us on a regular basis at home, but this is ridiculous. Eighteen members of our House of Representatives who lashed out in a letter to the US Congress (pdf) over the US State Department’s 19 […]
Posted inSpeed Round
MasterCard appoints new regional head of marketing and comms
MOVES- Mastercard announced the appointment of Beatrice Cornacchia as Head of Marketing and Communications for Middle East and Africa. “The Middle East and Africa is one of Mastercard’s fastest growing regions. Having recently inaugurated its 14th regional office, Mastercard is continuously investing in the best talent and technologies to better serve the needs of its […]
Posted inSpeed Round
Earnings Watch: Amer Group Holding
EARNINGS WATCH- Amer Group Holding’s net profit fell to EGP 63 mn in 1H2017, from EGP 75 mn in 1H2016, driven by a surge in finance expenses, according to an EGX filing. Revenues rose 8% y-o-y in the first half to 1.034 bn. Amer Group also announced signing an agreement with BNY Mellon to set […]
Posted inSpeed Round
Qatar Airways looking into using airspace offered by boycotting countries
Qatar Airways is evaluating whether it will use air routes opened to it this week by Egypt, Saudi Arabia, UAE, and Bahrain, the airline’s CEO told Reuters. “Qatar Airways is looking at ‘the flexibility and benefit’ of one ‘very short route’ while another route off the Egyptian coast was ‘useless’ to the airline, Chief Executive […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Sustained EM growth on the back of exports to other EMs
Emerging markets have been driving global growth, in no small measure thanks to exports to other EMs, Jonathan Wheatley writes for the Financial Times. EM exporters have traditionally relied on demand from developed markets, particularly the US, where consumption has failed to take off. This has largely been a function of global trade volumes increasing […]
Posted inImage of the Day
Look who’s getting a taste of his own medicine
Look who’s getting a taste of his own medicine: A bunch of enterprising young men have found Koftagate’s Ibrahim Abdel Atty — feasting on, of all things, some kofta. We would like to wish him a speedy recovery from the myriad of illnesses that kofta can cure.