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The Supply Ministry’s Internal Trade Development Authority (ITDA) has squandered EGP 150 mn of public funds, Central Accounting Authority undersecretary Khaled Wakeel alleged at a meeting with the House Economic Committee, Al Shorouk reports. Wakeel accuses the authority of some creative accounting.
Author Archives: enterpriseam admin
Posted inNational Security
Gunmen kill two police officers in Sinai
Two police officers were killed in Sinai yesterday in a shootout with an unspecified number of suspected Daesh terrorists, Reuters reports. According to security sources, the attackers had tracked the two officers and fled after the shootout.
Posted inON YOUR WAY OUT
Egyptian startup Moneyfellows digitizes the concept of a Gameya
Egyptian Crowdfunding startup Moneyfellows is digitizing the concept of a “Gameya” to make access to interest-free lending easier, Elias Jabbe writes for Wamda. Besides being a fintech platform, Moneyfellows also devised a novel credit-scoring method. “We've learned that things like socially scoring people, referrals, vouching, and payroll connecting can build a new era of credit […]
Posted inON YOUR WAY OUT
Environment Minister reiterates Egypt’s commitment to Paris climate agreement
Egypt is committed to the Paris climate agreement signed in 2015, Environment Minister Khaled Fahmy said yesterday in the wake of US President Donald Trump’s announcement he would withdraw the US from the accord, Al Mal reports. According to a CAPMAS report, carbon dioxide emissions from Egypt’s oil and gas sector increased 2.4% to reach […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0359 | Sell 18.1388 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Tuesday): 13,627 (+0.8%) Turnover: EGP 1.1 bn EGX 30 year-to-date: +10.4% THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session up 0.8%. CIB, […]
Posted inCALENDAR
26 May-23 June (Friday-Friday): Window for firms to submit expressions of interest to the European Bank for Reconstruction and Development for consulting on Egypt’s oil and gas sector reform, London, UK. 07-09 June (Wednesday-Friday): 19th Annual Africa Energy Forum, Copenhagen, Denmark. 22 June (Thursday): Nile Summit scheduled to be held in Uganda. 26-28 June (Monday-Wednesday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 06 June 2017
Cairo’s ban on flights from Qatar to Egypt kicked in at 6:00am CLT today. And forgive us for being all Qatar, all the time today. We tried to focus on other news, but when even the Financial Times devotes five stories to the severing of ties by Egypt, Saudi Arabia, the UAE and Bahrain, it’s […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
With a very busy economic agenda still ahead of it, it remains an open question whether the House will go on summer recess at the end of June. Either way, little moved forward on the economic front yesterday as MPs (like the rest of us) were agog at developments with Qatar.
Posted inON THE HORIZON
On the horizon
The Industrial Development Authority (IDA) will launch an awareness campaign for the Industrial Permits Act in a couple of weeks’ time, IDA chief Ahmed Abdel Razek said on Sunday, AMAY reports. The Industrial Permits Act — which is meant to expedite licensing procedures for manufacturers— came into effect last week. The Trade and Industry Ministry […]