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MOVES - The CBE’s board of directors approved the promotion of five CBE Assistant Sub Governors on Tuesday. Rami Aboul Naga has been bumped up to Deputy Governor for the monetary markets sector and reserve management, while Mai Aboul Naga is now Deputy Governor for Observing and Supervising banks. Ayman Hussein is now Deputy Governor […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Correction
CORRECTIONs - A couple of Mia Culpas this morning with our apologies. First, a grave typo went out yesterday in our coverage of inflation report. Monthly inflation recorded 0.8% in June 2017 for both core and urban inflation and not 1.8% as we have said in the story. We would also like to clarify in […]
Posted inSpeed Round
ADNOC mulls IPO of its service stations unit
Abu Dhabi National Oil Co (ADNOC) is reportedly planning an IPO of its service stations unit, with a value of as much as USD 14 bn, Bloomberg reports. ADNOC is expected to tap investment banks for the listing as early as this week. Sources tell Bloomberg, however, that the IPO is not certain, and the […]
Posted inSpeed Round
Flat6Labs has made its first closing on its EGP 100 mn fund
Flat6Labs has made its first closing on its EGP 100 mn Flat6Labs Accelerator Company (FAC) fund, which will allow it to accelerate more than 100 Egyptian early stage startups over the next five years, the company said in a statement. The fund will provide each startup with EGP 1 mn in seed funding, in addition […]
Posted inSpeed Round
Starz Play secures funding for USD 125 mn
In other startup news, MENA on-demand video streaming service STARZ PLAY raised a total of USD 125 mn since its launch in 2015, the company announced. New investments in 2017 include those from Lionsgate’s Starz, asset manager State Street Global Advisors, and media and tech investment firms SEQ Capital Partners and Delta Partners. The funds […]
Posted inUncategorized
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Posted inImage of the Day
Three Moez Street Islamic monuments restored
Three Islamic monuments were restored in the iconic Moez Street (above) as part of a 2015 restoration campaign launched by the Antiquities Ministry, according to Egyptian Streets. The monuments of Sabil Kuttab of Khusro Pasha, Qubbet Nagm El Din Ayyub, and Moheb El Din El Tayeb Hall are part of the first EGP 9 mn […]
Posted inEGYPT IN THE NEWS
Lifting of electronics ban on Egypt-US flights leads coverage of Egypt on 12 July
Leading the conversation on Egypt in the international press this morning is the removal of the electronics ban on Egypt-US flights. Reuters notes that Egypt was one of the last country to be given a reprieve from the ban, after airlines in Turkey, the UAE, Jordan, Kuwait, Morocco, Saudi Arabia, and Qatar all announced they […]
Posted inEGYPT IN THE NEWS
Is Egypt’s al-Azhar moving to ‘secularize’ its non-theological schools?
Is Egypt’s al-Azhar moving to ‘secularize’ its non-theological schools? By admitting a Christian student for the first time in its history, Al Azhar University looks like it has taken its “first step towards a long-awaited reform” that would see it open its non-theological school to non-Muslims, Sonia Farid says on Al Arabiya. The story of […]
Posted inEGYPT IN THE NEWS
Egypt’s Coptic identity is at risk from Daesh and the “prevailing culture”
Egypt’s Coptic identity is at risk from Daesh and the “prevailing culture”: Heba Saleh took to the pages of the Financial Times to talk about how Egypt’s Copts are “keeping their faith” in the fight against Daesh, even though the militant group has made a target of the religious minority. But terrorism isn’t the only […]