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L’Oréal Egypt is targeting a 50% increase in production to 120 mn packs of makeup and other cosmetics, country managing director Benoit Julia said, according to Al Mal. Operations were not affected by the EGP float, as L’Oréal Egypt exports 90% of its production to the MENA region, Julia added.
Author Archives: enterpriseam admin
Posted inLaw
Court ruling could force the government to develop slum areas
The Supreme Administrative Court issued a verdict on Saturday that obligates the state to develop infrastructure and provide basic services to citizens in slum areas, Ahram Online reports. The plaintiff is a resident of Helwan, south of Cairo, who had filed a suit after he was denied access to the state’s electricity grid for living […]
Posted inEgypt Politics + Economics
Cotton exports up by 63.9% y-o-y in September-November 2016
A breath of fresh air for Egyptian cotton: Cotton exports rose a sharp 63.9 percent between September and November of last year, according to CAPMAS numbers. “According to the statement, the rise can be attributed to leftover cotton stock from the previous year,” writes Ahram Online.
Posted inNational Security
Roadside bomb kills five soldiers in North Sinai
Five soldiers were killed and two injured when a roadside bomb took out an armored vehicle in North Sinai, Reuters reported.
Posted inSports
Egypt’s Youssef Ibrahim qualifies for the finals of squash Open d’Italia
Egypt’s Youssef Ibrahim qualified last night for the finals of the squash Open d’Italia 2017 after beating Briton Patrick Rooney. Ibrahim will face France’s Baptiste Masotti in the finals later today.
Posted inON YOUR WAY OUT
Prime Minister Ismail bans motorbikes in North and Central Sinai for one year
Motorcycles banned from north and central Sinai: Prime Minister Sherif Ismail has banned all motorbikes and their spare parts from North and Central Sinai for one year, Al Shorouk reports.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 16.0038 | Sell 16.1062 EGP / USD at CIB: Buy 15.9 | Sell 16 EGP / USD at NBE: Buy 16 | Sell 16.05 EGX30 (Thursday): 12,651.97 (+1.64%) Turnover: EGP 1.013 bn (133% above the 90-day average) EGX 30 year-to-date: +2.487% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
20-21 February (Monday-Tuesday): Fulbright Student Alumni Regional Conference: Contemporary Health Issues, Conrad Hotel, Cairo. 20-22 February (Monday-Wednesday): 20th International Conference on Petroleum Mineral Resources and Development, Egyptian Petroleum Research Institute, Cairo. 23 February (Thursday): Potential date for resumption of flights between Egypt and Russia, according to Izvestia newspaper. 06-08 March (Monday-Wednesday): 13th EFG Hermes One […]
Posted inUncategorized
A QUICK NOTE TO NEW SUBSCRIBERS We publish the Enterprise Morning Edition in English and Arabic from Sunday through Thursday before 7am, with a focus on the business, economic and political news that will move markets each day. What you’re reading now is our Weekend Edition, which is light on news and heavy on stories […]