Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Ride-hailing app Careem invested USD 10 mn in Egypt since it opened shop here, Careem Egypt COO Ramy Kato says, according to Al Borsa. Careem Egypt is also studying investment opportunities in e-commerce. Careem invested USD 500k earlier this month in Swvl, a three-month-old Egyptian bus transportation service.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Costs of Abu Tartur railway renovation mounts to USD 300 mn
The costs of upgrading the freight line connecting Egypt’s biggest phosphate mine at Abu Tartur to Safaga port looks set to increase to USD 300 mn from an initial estimate of USD 89.6 mn, Transportation Minister Hisham Arafat said, Al Shorouk reports.
Posted inLegislation + Policy
House Tourism Committee wants to summon Civil Aviation Minister over airport power outage
The House of Representatives’ Tourism and Aviation Committee is planning on calling Civil Aviation Minister Sherif Fathi over for a hearing on the power outage at Cairo International Airport’s Terminal 3 earlier this week, the committee’s deputy chair Ahmed Idris tells Al Mal. The Prosecutor General had ordered the arrest of 11 people over the […]
Posted inEgypt Politics + Economics
Four former Al-Ahram bosses referred to criminal court on graft charges
Prosecutor General Nabil Sadek referred four former chairmen of the organization that publishes state-newspaper Al Ahram to criminal court on Monday on graft charges, Ahram Online reports. “The former CEOs accused in the case are Ibrahim Nafie, Salah El Ghamry, Morsi Atallah, and Abdel Moneim Said,” according to the newspaper.
Posted inEgypt Politics + Economics
Illicit Gains Authority has yet to acquit former Supply Minister Khaled Hanafy
The Illicit Gains Authority has to clear former Supply Minister Khaled Hanafy of allegations he was involved in graft, a judicial source tells Al Shorouk. The authority has not summoned the former minister as of yet, the source says. Hanafy had claimed earlier this week that he was acquitted of all charges of illicit gains, […]
Posted inNational Security
No Egyptian military base on islands, Bahrain’s foreign ministry says
Egypt will not build a military base on Bahrain’s Hewar islands, Bahrain’s Foreign Minister Khalid bin Ahmed said, according to Egypt Independent. Bin Ahmed says the two armies continue to work together and noted that annual joint training programs are ongoing.
Posted inON YOUR WAY OUT
British embassy launches hackathon
The British Embassy is partnering with Flat6Labs to launch a hackathon for entrepreneurs, Mareeg reports. The competition looks for solutions that are both innovative and business friendly with the focus this year on recycling, energy and sustainable farming. The top 10 teams of 3-5 people will be given two days of mentoring to develop their […]
Posted inON YOUR WAY OUT
Families of slain cops, armed forces members to get hajj trips on King Salman’s dime
Saudi Arabia’s King Salman Bin Abdulaziz Al Saud is defraying the cost of hajj trips this year for 1,000 families of Egyptian police and armed forces members killed in the line of duty
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.8366 | Sell 17.9366 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.80 | Sell 17.90 EGX30 (Monday): 13,419 (-0.5%) Turnover: EGP 651 mn EGX 30 year-to-date: +8.7% THE MARKET ON MONDAY: The EGX30 ended Monday’s session down 0.5%. CIB, […]
Posted inCALENDAR
03-05 August (Thursday-Saturday): Watrex Expo Middle East, Cairo International Exhibition & Convention Center. 17 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 31 August-04 September (Thursday-Monday): Eid Al-Adha, national holiday (TBC) as specified by the Astronomical and Geophysics Institute. The Thursday is the waqfat Arafat, with the first day of […]