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Egypt will not ban the private sector from importing wheat while it buys up the local harvest, according to a statement from the Supply Ministry picked up by Reuters. The move appears to contradict statements made by Supply Minister Ali El Moselhy earlier this week in which he said imports of wheat will be restricted […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Earnings watch: Obour Land
EARNINGS WATCH- Cheese maker Obour Land recorded a net profit of EGP 162 mn in 2016, up from EGP 92 mn in 2015. The company says it key financial indicators are all, and reported robust sales volume growth, and overall enhancement in margins, despite macroeconomic challenges. The company’s revenues grew by 24% y-o-y to EGP […]
Posted inSpeed Round
Cabinet suspends school meals until end of academic year
Cabinet decided yesterday to suspend government-issued school meals for the remainder of the academic year and will bring back the program at the beginning of the upcoming academic year, according to a statement. Prime Minister Sherif Ismail met with the committee tasked with reviewing the school meal program after hundreds of school children fell ill […]
Posted inSpeed Round
Egypt’s economic reforms to lead to slow but steady improvements -Moody’s
Moody’s believes the pace of economic reforms in Egypt will continue to show gradual improvements but the recovery could be slower than expected, according to an emailed report. "The implementation of the IMF program's targets, including reductions in fiscal deficits and government debt levels, as well as improvements in Egypt's external liquidity position, will help […]
Posted inSpotlight
Spotlight on the Cityscape Egypt conference
We stopped in on the Cityscape Egypt real estate conference yesterday, where we are proud to have seen our friends at SODIC win two awards. The real estate developer took home hardware for the Best Community, Culture & Tourism Project Award for its Westown Medical Centre project and Best Commercial Project Award for its office […]
Posted inEGYPT IN THE NEWS
Egypt needs to chart a way forward away from extremism and autocracy -FT
In the run-up to President Abdel Fattah El Sisi’s White House meeting next week with The Donald, the global press is going to be putting Egypt under a microscope and dissecting us to learn more about our anti-democratic, anti-woman, anti-LGBTQ, anti-capitalist, anti-everything authoritarian hearts. That process began yesterday with none other than the Financial Times: […]
Posted inEGYPT IN THE NEWS
Daily Beast says “shady” agreements with El Gindy denied Breitbart press credentials
Breitbart News cutting “shady” agreements with El Gindy? A former Breitbart News writer alleges the site was acting as an illegal influence operation for its Washington DC landlord, Egyptian MP Moustafa El Gindy, according to an exclusive piece from The Daily Beast. Reports emerged last August that El Gindy owns Breitbart’s DC headquarters, which El […]
Posted inEGYPT IN THE NEWS
Egypt will not give up until Regeni case solved -El Molla
Italian media hounds El Molla over Regeni: Oil Minister Tarek El Molla was asked by Italian media about progress in the Giulio Regeni murder case on the fringes of the Offshore Mediterranean Conference 2017, according to ANSAmed. El Molla said Egypt will not give up until the case is solved, adding that he “can confirm […]
Posted inEGYPT IN THE NEWS
Other international news stories worth noting this morning
Other international news stories worth noting this morning include: The unearthing of a plank of wood believed to belong to the Pharaoh Khufu, builder of the Great Pyramid at Giza, has been receiving widespread coverage. Irish lifestyle magazine Her is running a glowing review of the ski slope at the Mall of Egypt. Anadolu is […]
Posted inOn Deadline
Egypt’s columnists collectively rail against parliament
Egypt’s columnists went on a collective rant against the House of Representatives after its hasty approval of amendments to the judicial code sparked a ruckus with the judiciary. Starting off the conversation is Al Masry Al Youm’s Amr El Shobaky, who wastes no time in declaring that it is the worst legislation related to the […]