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Amazon acquiring Souq after all? Amazon’s interest in making an investment in regional online retailer Souq.com is reportedly back on, The National reports. The two companies will finalize the transaction next week, with negotiations on valuation, future plans for the company, and its trade name still underway, a source from Souq tells Al Mal. Initial […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Terror attack on UK parliament kills five, wounds 40
At least five people were killed and 40 others were injured in an attack on the UK’s Parliament in central London on Wednesday, according to the BBC’s live coverage. The attacker wounded dozens of citizens as he smashed his way over Westminster Bridge in a vehicle. The dead include a police officer and the attacker […]
Posted inSpeed Round
Travelport Global to invest USD 20 mn in 2017 to “further innovation”
Clarification- Travelport Global will increase its capital investments by USD 20 mn in “strategic expenditure” in 2017, Egypt Country Manager Mervat Alfy said. Travelport says it “is connected with many travel industry players in Egypt and with a large portion of Egypt’s travel agent community on the Travel Commerce Platform” and “aims to enter into […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Global art market declines to lowest point since financial crisis
Global art sales at lowest point since financial crisis: Sales of art and antiquities globally dropped 11% to USD 56.6 bn in 2016, according to a report by UBS Group AG and Art Basel carried by Bloomberg. The contraction was the second in as many years and brought the market down its lowest levels since […]
Posted inImage of the Day
6,000 year-old rock art discovered near Aswan
6,000 year old rock art near Aswan begs the question: Was there a link between the Neolithic period and Ancient Egyptian culture? Egyptologists at the University of Bonn discovered rock art from 4,000 BC near Aswan, according to Phys.org. “The paintings were engraved into the rock in the form of small dots and depict hunting […]
Posted inEGYPT IN THE NEWS
It’s a quiet morning for Egypt in the global press, and for that we’re thankful as we prepare for a long, hectic day and then (we hope) a relaxing weekend with family. Egypt in the news on 23 March 2017
Don’t read too much into Aramco resuming deliveries of oil products: The resumption of Aramco’s shipment of petroleum products to Egypt is both a signal of a thaw in relations between Cairo and Riyadh — and insufficient to really know where things stand between the two sides, Cyril Widdershoven writes for OilPrice. Although it is […]
Posted inOn Deadline
Political disagreements between Egypt and Sudan should not become an issue of the people
Don’t let discord with Sudan become personal: The political disagreements between the Egyptian and Sudanese governments should not trickle down to the grassroots level to became a spat between populations, Emad El Din Hassan says in a column penned for Al Shorouk. The writer condemns the media (and social media) war that ensued recently as […]
Posted inWorth watching
Prospects looking good for fintech startups in MENA
Prospects for fintech startups in MENA are apparently looking good, with their numbers growing 50% between 2013 and 2015 to 105 companies from a 46, according to a report form Payfort and Wamda released this week. That number is expected to grow to 250 startups by 2020. Egypt is home to 16% of all fintech […]
Posted inDiplomacy + Foreign Trade
President Sisi will likely meet China’s Xi Jinping this year -Chinese ambassador
President Abdel Fattah El Sisi will likely meet with his Chinese counterpart Xi Jinping sometime this year as the two are “good friends,” China’s ambassador to Egypt said yesterday, Al Mal reports.