Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Cairo Airport began yesterday granting entry visas on arrival for North African tourists currently living in Gulf countries, Al Masry Al Youm reports. The new measure does not apply to citizens of Arab countries such as Syria, Sudan, Lebanon, Jordan, and Palestine.
Author Archives: enterpriseam admin
Posted inTourism
EgyptAir receives 25 offers from global financing institutions for fleet overhaul
EgyptAir is looking into 25 offers from global financing institutions for the planned overhaul of its fleet, EgyptAir Holding chairman Safwat Mosallam told Al Borsa. According to Mosallam, the company will complete its review of the offers and decide on the framework for the fleet update by mid-July.
Posted inBanking + Finance
EFSA lifts Acumen-BPE suspension
The Egyptian Financial Supervisory Authority (EFSA) has lifted a three-year suspension it had placed on asset manager Acumen-BPE in February, Al Mal reports. Acumen-Beltone is a JV between Acumen Holding and BPE Partners (formerly Beltone Private Equity). The asset manager’s suspension came after the company’s general assembly voted to suspend activities until it rebranded as […]
Posted inBanking + Finance
CI Capital to launch EGP 50 mn equities fund in 2H2017
CI Capital is in talks with an unnamed bank to set up a new EGP 50 mn equities fund, the investment bank’s Head of Asset Management Amr Abol Enein told Al Mal. He says CI Capital is looking to launch the fund in 2H2017.
Posted inBanking + Finance
NBE lifts caps on international credit card spending
The National Bank of Egypt has lifted caps on international use of its credit cards, and is looking into doing the same for debit cards, NBE Vice President Yehia Aboul Fotouh tells Youm7.
Posted inOther Business News of Note
El Sisi to support workers’ emergency fund with EGP 100 mn from Tahya Misr
President Abdel Fattah El Sisi announced transferring EGP 100 mn from the Tahya Misr fund to support the workers’ emergency fund, Al Masry Al Youm reports. The announcement came during El Sisi’s speech on Sunday in celebration of Labor Day. El Sisi also said the state will focus on supporting labor-intensive industries and will invest […]
Posted inEgypt Politics + Economics
Customs exchange rate kept at EGP 16.5 per USD 1
The Finance Ministry has kept the customs exchange rate unchanged at EGP 16.5 per USD 1 for May, Deputy Finance Minister Amr El Monayer told Reuters. The newswire notes that the fixed rate is around 10% below the market exchange rate.
Posted inEgypt Politics + Economics
Egypt cancels seven-year treasury bond, bankers speculate rates were too high
The central bank cancelled a seven-year treasury bond sale on Sunday, according to Reuters. “The central bank and the finance ministry did not immediately say why the bond auctions were cancelled. But two bankers said most likely the bids from the banks were too high for the finance ministry to accept.” Yields on three-year bonds […]
Posted inEgypt Politics + Economics
Hamas cuts ties with Ikhwan
Hamas has cut its ties with the Ikhwan, leader Khaled Meshaal said while presenting the group’s policy document in Qatar yesterday, Reuters reports. Meshaal maintained that the group still associates with the Ikhwan’s school of thought, but is “an independent Palestinian organization.” Uh, whatever, dude.
Posted inON YOUR WAY OUT
On your way out for 2 May 2017
The Sherif Ismail government has allocated EGP 1.72 bn to supporting various antiquities projects currently in the works, including development work at the Giza Plateau, the Baron Palace, the Jewish Synagogue, and the Greco-Roman museum, to name a few Al Borsa reported on Sunday. The Armed Forces launched the beta phase of 4G services for […]