Author Archives: enterpriseam admin

A French soldier shot and injured a machete-wielding Egyptian at the Louvre Museum in Paris.Egyptian security officials have identified the alleged attacker as Abdullah Reda El Hamahmy, 29, from Dakahlia, Reuters reports. El Hamahmy is alleged to have attacked two soldiers checking bags near the museum’s shopping mall and was shot in the abdomen, prosecutor […]

More subsidy cuts coming soon as IMF delegation reviews Egypt’s progress on reform program: The Ismail government is preparing a series of new “austerity measures” which it plans to discuss with an International Monetary Fund delegation currently visiting to review progress on the reform program Egypt agreed as a condition of its USD 12 bn […]

Licenses for cars, driver and company required in new Uber, Careem Act: Ride-sharing platforms including Uber and Careem would require multiple licenses and permits under legislation to regulate the industry expected to be proposed by the Ismail government, Al Borsa reports. Ride-sharing companies as well as individual cars and drivers would all need to be […]

A final date for the resumption of Russian flights to Egypt has yet to be determined, the Civil Aviation Ministry said in a statement cited by Al Masry Al Youm, but Cairo International Airport has set specific routes for Russia’s Aeroflot at the request of a Russian security delegation, the Egyptian Airport Company’s president told […]

New discoveries to be announced in 2H2017 will put Egypt on the natural gas export track, Bloomberg reports, citing remarks by Oil Minister Tarek El Molla. The discoveries will bring Egypt “closer to its goal of self-sufficiency by 2019,” the story says, quoting EGAS chief Mohamed El Masry as noting that “Egypt will start exporting […]

Centamin gets love from the FT after quadrupling dividend: Egyptian miner Centamin is getting love from the Financial Times as it promotes company analysis from sister publication Investors Chronicle. Noting that the company has quintupled its full-year dividend, the publication writes that “a payout equivalent to 70 per cent of free cash flow looks improbable […]

Egypt is kicking Sicilian artichokes to the curb: Sicilian purple artichoke producers are being swamped by produce from Egypt, according to Fresh Plaza. One producer says “prices are very low (for the Purple variety) because the domestic produce is being replaced by the Egyptian one. Markets and stores are literally flooded with large quantities of […]

“Minor fire” at El Sewedy Electric warehouse, production no interruption to manufacturing: A “minor fire” at an Elsewedy Electric warehouse in 10 Ramadan City yesterday was contained in under an hour and resulted in loss and damage of no more than USD 10k, a source with first-hand knowledge of the incident tells us. The warehouse […]

BPE Partners has inked a partnership agreement with SSAT Education in its bid to build 200 PPP schools for the Egyptian Education Ministry, Al Mal reported. We reported in November that BPE and Orascom Construction are two of 79 companies vying for the project. SSAT would provide BPE Partners with technical support for the bid. […]

Water returned to Giza on Friday: The Water Holding Company and National Tunnels Authority might impose a fine on the Société Egyptienne d’Entreprises (Mokhtar Ibrahim) after technical difficulties caused delays in maintenance works and disrupted water services in Giza for more than 48 hours, Al Mal reported. The government had announced that pipelines would remain […]