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Egypt dropped seven spots to number 40 on car market intelligence firm Focus2Moves’ 2016 ranking of global car markets by sales. The drop came as Egypt’s sales fell 20.8% year-on-year to 217,425 cars in 2016, from 274,389 in 2015. Egypt’s market share of global auto sales also fell to 0.2% in 2016 from 0.3% in […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Egyptian Agricultural Bank launches initiative to finance livestock projects
The Egyptian Agricultural Bank has launched an initiative to provide funding for livestock, Daily News Egypt reports, picking up news from late May in the Arabic press. “We aim to finance the purchasing of [1 mn head of] livestock in addition to milking equipment, refrigerated transport, and the establishment of feed factories,” Chairman El Sayed […]
Posted inEgypt Politics + Economics
Media Council looking to clarify legal status of blocked websites
The Supreme Media Council is looking to the clarify the legal status of the news websites that were blocked by the government, Al Masry Al Youm reports. The council is in talks with the Interior Ministry to know more about the decision. It is seeking clarification regarding five Egyptian news websites specifically, including Daily News […]
Posted inEgypt Politics + Economics
State Judiciary Authority requests Supreme Constitutional Court to settle contradictory verdicts Tiran and Sanafir
The State Lawsuits Authority has requested the Supreme Constitutional Court settle the contradictory rulings issued on the potential handover of Tiran and Sanafir islands to Saudi Arabia, Al Shorouk reports. At issue is a ruling by the Cairo Court for Urgent Matters challenging a previous verdict from the Supreme Administrative Court to block the transfer […]
Posted inEgypt Politics + Economics
32 Tourah Portland Cement workers sentenced to prison for sit in
A Cairo court sentenced 32 workers from Tourah Portland Cement Company to three years in prison for illegally protesting, Ahram Online reports. The workers held a 55-day sit in on site to protest a decision to lay them off. The court also convicted them of “using force and resisting authorities.”
Posted inNational Security
Former military officer allegedly involved in the Minya massacre -Al Arabiya
A former Egyptian army officer is allegedly involved in the Minya terrorist attack, Al Arabiya reports, citing a statement by Libyan army spokesperson Ahmed Al Mesmari. The former officer, identified as Hisham Ashmawy, is said to have served in Sinai for 10 years before being suspended for spreading extremist ideas among his troops. He joined […]
Posted inON YOUR WAY OUT
First publicly named Christian student attends Al Azhar as a dental resident.
If this is real, we love the dean of Al Azhar’s faculty of dentistry: Abanoub Guirguis Naeem has reportedly become the first Egyptian Christian to be accepted as a resident at Al Azhar University, according to a report by Egypt Independent. Despite the university spokesman’s best effort to muddy the waters by distinguishing between a […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0300 | Sell 18.1329 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Sunday): 13,495 (+0.2%) Turnover: EGP 509 mn (41% below the 90-day average) EGX 30 year-to-date: +9.3% THE MARKET ON SUNDAY: The EGX30 ended […]
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. 06 June (Tuesday): Egyptian Private Equity Association’s annual Sohour, Four Seasons Hotel Nile Plaza, Cairo. 07-09 June (Wednesday-Friday): 19th Annual Africa Energy Forum, Copenhagen, […]
Posted inWhat We're Tracking Today
What we’re tracking on 04 June 2017
DEVELOPING STORY- London is reeling this morning from two terror attacks overnightthat appear to have claimed at least six lives. A van drove into a crowd of pedestrians on London Bridge, killing at least one person. At least one attacker then left the van and proceeded to Borough Market, a popular spot for pubs and […]