Author Archives: enterpriseam admin

The Health Ministry is mulling the imposition of price controls on private hospitals: The Health Ministry has apparently finished reviewing a bill that, if enacted, would give it new authority to impose price controls on private-sector hospitals and clinics, according to Health Minister Ahmed Rady. He told Al Masry Al Youm that the bill, which […]

The Ismail government expects to receive the second tranche of the IMF’s USD 12 bnextended fund facility next month, Prime Minister Sherif Ismail told the press yesterday, Youm7 reports. Finance Minister Amr El Garhy had said earlier this week that we should expect to hear from the IMF’s executive board in a few weeks’ time […]

Canadian export credit agency Export Development Canada is financing 85% of GE’s USD 575 mn sale of 100 locomotives to Egypt, sources tell Al Mal. GE is set to be paid in 24 installments over 12 years and the government will cover the remaining 15%, either from the state coffers or through a loan. Separately, […]

PepsiCo has invested USD 1 bn in Egypt over the past two years, the company’s general manager for Egypt, Mohamed Shelbaya, is quoted as having told Al Borsa. Pepsi has a 55% market share in soft drinks, while subsidiary Chipsy controls a 60% share in the potato chip / crisps market. Shelbaya says PepsiCo sales […]

Thank God almighty, 4G frequencies are here at last? Egypt’s mobile network operators reportedly received their 4G frequencies on Wednesday, sources tell AMAY. MNOs will run trial operations over the next two months, after which 4G services will be fully operational for clients. During the two-month window, MNOs will also be working to redistribute mobile […]

Food discovery platform Elmenus is planning on expanding to new markets in Africa and the Middle East next year, CEO Amir Allam told Al Borsa. Elmenus recently closed a USD 1.5 mn Series A funding round with an investment from Algebra Ventures. The platform wants to cooperate with restaurants to offer new services for customers, […]

Orascom Hotels and Development’s EGM voted yesterday to change the name of the company to Orascom Development Egypt, according to a bourse disclosure.

Supreme Constitutional Court lays down the law on Smurf Islands: The Supreme Constitutional Court (SCC) has said lower courts have no say on any border demarcation agreements. The supremes set aside all verdicts issued by lower courts on the transfer of Tiran and Sanafir to Saudi Arabia pending their own ruling on whether the agreement […]

Of slippery slopes and the thought police: Al Azhar has presented its “anti-hate crime” legislation to President Abdel Fattah El Sisi, Grand Imam Sheikh Ahmed El Tayeb announced yesterday, Al Shorouk reports. The bill would somehow ensure that religiously motivated hate speech does not enjoy protection under the constitution’s freedom of expression provisions and would […]

MbS takes over Mohamed bin Nayef’s cabinet positions: Newly appointed Saudi Crown Prince Mohammed bin Salman is taking over from his cousin, former crown prince Mohammed bin Nayef, as the kingdom’s deputy prime minister and interior minister, according to an official Saudi Press Agency statement. MbS, whose appointment came by royal decree, is also continuing […]