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Sawari Ventures makes follow-on investment in Egyptian AI startup Elves
STARTUP WATCH- Sawari Ventures has made a follow-on investment in high-profile AI startup Elves, bringing Elves’ total pre-series A funding…
Eni, BP make new gas discovery in Nile Delta
Eni, BP announce new gas discovery in EastMed: Eni and BP have made a new gas discovery in the offshore…
Covid is slowing the pace of foreign investment in Egypt
Covid is slowing the pace of foreign direct investment in Egypt, two announcements yesterday suggest. Kuwait’s Arzan Financial Group has…
Interest rate cuts won’t dent investors’ enthusiasm for Egypt -Goldman
EGP to stay strong, interest rate cuts won’t dent carry trade enthusiasm for Egypt -Goldman: Bulge Bracket stalwart Goldman Sachs…
Moves: Egypt’s Tax Authority boss, ECDC chairman, Maridive MD
MOVES- Mohamed El Gamal has been selected to become managing director at Maridive Oil Services, replacing former director Emad Fawzi,…
Maridive's losses widen in 1H2020
EARNINGS WATCH- Maridive Oil Services’ net loss widened to USD 18 mn in 1H2020 from USD 3.6 mn in 1H2019,…
Mubarak-era information minister Safwat El-Sherif to serve three-year prison sentence for illicit gains
BRIEFLY NOTED- The Court of Cassation upheld a three-year prison sentence and EGP 99 mn in fines imposed on Mubarak-era…
Gov’t drafts law to set up vocational schools accreditation authority
LEGISLATION WATCH- Gov’t drafts law to set up vocational schools accreditation authority: The education, manpower, and planning ministries have finished…
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