Author Archives: enterpriseam admin

Choueifat off the Education Ministry’s naughty list: The International Schools of Choueifat in Egypt are no longer under the administrative and financial control of the Education Ministry after complying with the ministry’s demand that it collect tuition in EGP, not USD, sources tell Al Mal. The schools were one of several private-sector international and language […]

Cairo Metro under pressure to pay suppliers: Get beyond the alarmist (and wholly unrealistic) suggestion that the Metro could be closed down for any period of time and there’s clearly an issue at the Egyptian Company for Metro Management and Operations. Al Mal suggests that at least 11 companies are refusing to supply spare parts […]

Things are getting ugly at Careem: The now former managing director of Careem Egypt might be suing the company after he was unexpectedly fired earlier this week and replaced with Ramy Kato, sources close to him tell Al Mal. “I did not step down,” Fakharany tweeted yesterday, “I was fired in an insulting, surprising way.” […]

Shocker: Egypt is not a major automotive producer by global standards. Egypt was ranked as the 39th largest auto producer globally of the 40 nations surveyed covered in the International Organization of Motor Vehicle Manufacturers (OICA) global production statistics report for 2016. That’s one place better than in 2015 thanks to a 0.6% rise in […]

** EARNINGS WATCH- Oriental Weavers reported a consolidated net profit of EGP 528.9 mn in 2016, up from EGP 339.1 mn a year earlier, the company said in its earnings release. It sees “export performance in [USD] terms continuing to recover and our successful response to the floating of the EGP locally, further growth in […]

Prosecutor General refers CAF president, secretary general to criminal trial for Lagardère Sports agreement: Egypt’s top prosecutor will take Confederation of African Football (CAF) President Issa Hayatou and Secretary-General Hisham El Amrani to criminal trial to face allegations they violated fair competition laws, according to an emailed statement from the Egyptian Competition Authority (ECA). The […]

President Abdel Fattah El Sisi pardoned 203 people yesterday who were convicted and jailed for their participation in illegal protests, according to the Associated Press. The pardon “did not cover any of the iconic, secular activists jailed for violating the 2013 protests law.”