Author Archives: enterpriseam admin

New export orders continued to grow for its third consecutive month in June, according to last month’s reading in yesterday’s Emirates NBD Egypt PMI (pdf). The gauge came in 47.2 in June, broadly similar to last month’s reading 47.3. This growth in exports came on the back of greater interest from international markets and reports […]

EFSA to draft new regs for Capital Markets Act once it passes the House: The Egyptian Financial Supervisory Authority (EFSA) will be drafting new executive regulations for the amended Capital Markets Act once the House of Representatives signs off on the bill, EFSA boss Sherif Samy said on Tuesday, according to Al Borsa. The Sherif […]

The refugee crisis topped the agenda during President Abdel Fattah El Sisi’s trip to Hungary for the Visegrád Group-Egypt Summit, which is getting us all excited about the prospect of Turkey-style agreement with the EU to help curb migration flows to Europe. El Sisi said that Egypt is engaged in meaningful discussions on avenues for […]

Russia’s UVZ looks into plans to assemble tanks in Egypt: Russian machine and defense manufacturing company Uralvagonzavod (UVZ) reportedly has plans to assemble its T-90S third generation battle tanks in Egypt, according to Russia’s Sputnik Arabic portal, which cites the company’s annual report 2017. The report apparently says that the company will help an undisclosed […]

EMRA tender winners to invest USD 41.3 mn in Eastern Desert exploration: The winners of the Egyptian Mineral Resources Authority’s (EMRA) gold mining tender in the Eastern Desert and Sinai Peninsula will be investing around USD 41.3 mn collectively in exploration activities, sources close to the matter tell Youm7. The UK’s Veritas Mining Limited will […]

Egypt’s economic recovery is driving hotel business up, as Cairo’s hotels witnessed a 42.4% year-on-year increase in profit per room during the month of May, despite an 8.9 bps drop in occupancy rates to 63.6%, HOTSTATS reveal in their latest Middle East and North Africa chain hotels review (pdf). The drop in occupancy rates was […]

Issues rolling out fuel smartcards? You don’t say: Fuel smartcards are ready to be rolled out, but there are still “some kinks” to iron out with tuk tuks and fishing boats, Oil Ministry official Khaled Othman tells Youm7, without providing details on what these problems are. However, these vehicles have yet to be incorporated into […]

Takaful and Karama to handout cash subsidies to children under six: Children under the age of six will be getting a monthly stipend of EGP 60 from the state’s Takaful and Karama cash subsidy programs for the first time starting August, Deputy Social Solidarity Minister Nivine El Kabbag tells AMAY. The programs, which used to […]

Media Production City pulls the plug on Al Hayat TV: Broadcasting of Al Hayat TV channels was halted on Monday after the Egyptian Media Production City’s (EMPC) management decided to cut off services provided to the network, including electricity, due to overdue payments. The EMPC said in a statement carried by Al Masry Al Youm […]

MOVES- Our good friend Menatalla Sadek will be resigning her post as Chief Investment Officer for Ghabbour Auto as of 1 August, according to bourse filing. The torch will be passed on to Andre Valavanis and Sarah Maged, who will be co-heading the company’s Investor Relations department. Ms. Sadek joined GB Auto six years ago […]