Author Archives: enterpriseam admin

Egypt’s balance of payments netted USD 11.0 bn in the first three quarters of FY 2016-17, of which USD 9.0 bn came after the EGP float in November, as the CBE made sure to outline in a bold typeface. The increase was driven almost entirely by the capital and financial account, which registered USD 24.6 […]

The string of positive figures carried into the Egypt’s debt market, where apparently, foreigners increased their holdings by 7% in just over a week to EGP 155.9 bn (USD 8.5 bn), unnamed officials tell Al Borsa. Foreigners had bought treasury bills worth EGP 145.5 bn (USD 8.4 bn) since the EGP float, as of 6 […]

Back to the revival of tourism, where the number of tourists arriving in Egypt rose 51% year-on-year in the first four months of 2017, according to a Tourism Ministry statement. Arrivals from Ukraine and Poland more than doubled in 4M2017 compared to last year, while German arrivals increased by 50% y-o-y, Italian by 30%, and […]

Higher fuel prices in July look like they might be reality, unnamed Petroleum Ministry officials tell AMAY. With a projected energy subsidy bill next year of around EGP 140 bn — of which EGP 110 bn are earmarked for petroleum products and EGP 30 bn for electricity — the government doesn’t really have much of […]

Germany can exert more pressure on state-sponsors of terrorism, President Abdel Fattah El Sisi told Germany’s ARD Radio. He said terrorism will not get defeated by just fighting groups like Daesh, extremist ideas need to be combated, and warned German listeners of the potential for terrorist attacks. El Sisi is not looking for more military […]

Will Rosatom have competition in Egypt? The Chinese pushing the sale of “new, small-scale nuclear reactor designs that could be used in isolated regions, on ships and even aircraft as part of an ambitious plan to wrest control of the global nuclear market,” according to a report by Reuters’ David Stanway. State-owned China National Nuclear […]

House votes in favour of handing Tiran and Sanafir islands to Saudi: The House of Representatives voted after a heated and contentious plenary session yesterday in favor of an agreement that would transfer sovereignty over the Tiran and Sanafir islands to Saudi Arabia, Al Masry Al Youm says. This follows swift approval of the treaty […]

Forbes contributor Mfonobong Nsehe compiled a list of five Egyptian multi-mn’aires whose names “don’t ring with the African public, and you’ve probably never heard about them before, but they are very successful.” The list includes Amoun’s Tharwat Bassily and Ahmed Elsewedy. Groundbreaking, right?