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**Earnings watch: Abu Dhabi Islamic Bank Egypt (ADIB) reported an 82% y-o-y rise in FY2016 net profit in to EGP 397.038 mn compared with the same period a year ago, the bank said in a statement. Meanwhile, Alexandria Medical Services reported a net profit of EGP 17.035 mn in FY2016, according to a regulatory filing.
Author Archives: enterpriseam admin
Posted inSpeed Round
Kraft Heinz withdraws USD 143 bn offer for Unilever
Kraft Heinz has withdrawn its USD 143 bn offer for Unilever just two days after it confirmed it was interested in the transaction. Kraft Heinz’s board — which includes Warren Buffett among its members — voted to walk away as the “alternative would have been to pursue a public and possibly costly fight against Unilever, […]
Posted inSpeed Round
Privacy advocates cite growing concern over electronic media searches at US border crossings
Picking up where we left off with our Weekend Edition: You might want to leave your laptop and smartphone at home if you are traveling to Amreeka, privacy advocates now recommend, according to the Associated Press. US Customs and Border Protection agents are searching the phones and other digital devices of international travelers at border […]
Posted inEGYPT IN THE NEWS
“Middle East” peace on the agenda again
On a very quiet morning for Egypt in the international press, the biggest story of the morning is Haaretz’s suggestion, since picked up by the wires, that “Prime Minister Benjamin Netanyahu met secretly a year ago with the leaders of Egypt and Jordan in a failed attempt by the Obama administration to convene a wider […]
Posted inEGYPT IN THE NEWS
Egypt as a key element in Trump, Putin ME strategy
The international press had been focusing since the weekend on Egypt’s place in the geopolitical machinations of Trump’s America and Putin’s Russia. The Financial Times takes the view that Trump’s stated wider regional agreement is to create some form of regional alliance made up mostly of Sunni states and Israel to counter Iranian incursions in […]
Posted inEGYPT IN THE NEWS
Civilians getting caught in the crossfire in Sinai in the fight against Daesh -FT
Civilians are getting caught in the crossfire in the fight against Daesh affiliates in Northern Sinai, Heba Saleh writes for the Financial Times. “You can expect anything here and nothing is guaranteed,” an Arish resident tells Saleh. “A stray bullet or shell can hit anyone and an arrest can happen anytime. This makes people fearful […]
Posted inEGYPT IN THE NEWS
Malta worried about the spread of neurotoxin-producing fish in the Mediterranean
Egypt has not accepted the offer of technical assistance from the European Commission to address the spread of the silver-cheeked toadfish in the Mediterranean, Malta Independent says. The fish, which is potentially deadly if consumed, is believed to have entered the Mediterranean from the Red Sea through the Suez Canal. The Maltese paper is concerned […]
Posted inEGYPT IN THE NEWS
Other coverage on Egypt in the international press
Other stories on Egypt worth briefly noting on a morning in which Al Arabiya is running a photo profile of Magda Malek, Egyptian first female pilot of EgyptAir’s Boeing 777-333 airliner: Dubai-based e-commerce platform Cary is looking to expand in Egypt in the medium term, CPI Finance reports. Arab Times editor-in-chief Ahmed Al-Jarallah pens an […]
Posted inOn Deadline
AMAY columnists angry at Education Minister’s views regarding free education
Knocks and kudos for new cabinet ministers: AMAY columnists Amr El Shobaki and Said Al Sonny vent their spleens over Education Minister Tarek Shawky’s comments about limiting free education. Elsewhere, Hazem Monir writes for El Watan that he is impressed with Supply Minister Ali El Moselhy’s comments in favor of commodity subsidies.
Posted inWorth reading
Greece and its informal economy à l'égyptienne
Greeks are getting in touch with their inner Egyptians: The informal economy in Greece is growing as businesses that can’t afford to pay newly imposed taxes deregister in Greece to work in the parallel economy, often after registering abroad in lower-tax environments, Liz Alderman writes for The New York Times. Ring a bell? “Few problems […]