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Iflix appoints new MENA CEO
MOVES- Iflix appointed John Saad as CEO of Iflix Middle East and North Africa. Saad previously worked as chief consumer…
Speed Round
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Egypt bookings for summer 2018 “already very strong” -Thomas Cook
Bookings for Turkey and Egypt in summer 2018 are already very strong, travel firm Thomas Cook says, according to Reuters.…
Cabinet signs off on Ride-hailing Apps Act, other key decisions at weekly
LEGISLATION WATCH- The Ismail Cabinet signed off on the Ride-hailing Apps Act and referred it the Council of State for…
Fawry nets USD 20 mn in funding, Flat6Labs to manage EGP 47 mn startup initiative for UK embassy and IFC
E-payments firm Fawry has locked down USD 20 mn in funding from a “foreign investment fund,” said CEO Ashraf Sabry,…
Mamish insists it is a matter of time before Mercedes-Benz starts operating in Egypt
INVESTMENT WATCH- Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish is still saying that Mercedes-Benz had approved establishing a regional…
Saudi’s Elaj Group buys Alexandria International, Ibn Sina Specialized Hospital
M&A WATCH- Saudi Arabia’s Elaj Group has acquired Alexandria International Hospital and Ibn Sina Specialized Hospital, Al Mal reports citing…
Ibnsina Pharma prices IPO at 5.21-5.95, hires veteran Mohamed Shawky as IRO
IPO WATCH- Ibnsina Pharma has priced its initial public offering on the Egyptian Exchange at EGP 5.21-5.95 per share, according…
Egypt GDP growth rate climbs to 5.2% in 1QFY2017-18
Egypt’s economy grew 5.2% in the first quarter of FY2017-18 from 3.4% in the same period last year, Planning Minister…
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