Author Archives: enterpriseam admin

The Tourism Development Authority has revised the bank of land it will allocate forinvestment opportunities in the industry, according to Al Borsa. The total number of land plots allocated has dropped to 115 from 135, taking about 30 mn sqm out of potential circulation. The new allocations have been sent to the Ministry of Investment […]

So we guess Svetlana’s BFFs still aren’t coming for a beach holiday: Russia has again deemed our airport security unsatisfactory, says Svetlana Sergeeva, an adviser to the head of Russia's Federal Agency for Tourism (Rostourism), according to Sputnik. The results of Russia’s most recent airport security inspection revealed that “the Egyptian side has not yet […]

New controversy around clauses on central bank oversight of non-bank financial sector in proposed amendments to the CBE and banking acts: The financial sector is in a modest uproar over proposed amendments to the Central Bank and Banking acts that would give the central bank oversight on non-bank financial institutions and brokerages. (That uproar would […]

Egypt and the EU agreed on a new cooperation framework that outlines the two sides’ priorities for 2017-2020 on Tuesday, according to the EU’s External Action Service. The framework states that the EU and Egypt will cooperate “in all fields including Egypt's sustainable economic and social development, good governance, the rule of law, human rights, […]

President Abdel Fattah El Sisi handed down policy decisions designed to spur investment in the Western Desert and West Delta regions and away from the over-populated Nile basin, Al Ahram reports. El Sisi directed that the cabinet complete plans to redraw the borders of governorates and have the new map ready for the upcoming session […]

Chambers of Commerce appears to discourage med price hike: There’s no need to raise med prices for the second time this year, says Tamer Qarmany, a member of the Federation of Egyptian Chambers of Commerce’s pharma division. He tells Al Masry Al Youm that since the EGP float, the FX exchange rate has stabilized at […]

EgyptAir is expected to lower ticket prices that it had already set for Hajj season, according to Al Shorouk. This comes as EgyptAir Chairman Safwat Musallam came under pressure to reduce costs for pilgrims this year. EgyptAir had previously angered tour companies by pricing their Hajj season tickets too high and driving them to look […]

Libyan factions agree to ceasefire, could hold spring elections: Rival Libyan leaders Prime Minister Fayez Al-Serraj and General Khalifa Haftar agreed yesterday to a conditional ceasefire and to hold elections in the spring under UN supervision, Reuters reports. The agreement came after peace talks in Paris brokered by French President Emmanuel Macron. Macron’s mediation has […]

Israel will remove the metal detectors it had in Jerusalem’s Al Aqsa Mosque, which had led to violent clashes that culminated in the death of eight Palestinians, the BBC reports. Israeli authorities said they will opt for “less obtrusive surveillance” measures to prevent weapons from being smuggled into the holy site.

In regional investment news, Saudi Arabia has reportedly hired Goldman Sachs to manage the sale of a stake in Riyadh airport, sources told Reuters. “The Saudi Civil Aviation Holding Co plans to sell a minority stake in the Riyadh's King Khalid International Airport, the sources said, adding the stake size could be significant” and the […]