FINANCE & ECONOMY

24 Jun 2016

$5 Million IBM Watson AI XPRIZE Competition Open for Registration

XPRIZE, the global leader in incentivized prize competitions, today announced that registration"......

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24 Jun 2016

Q2 Solutions Receives 2016 Global Supplier Award from Eli Lilly and Company

today announced that the company has received the 2016 Lilly Global Supplier Award. Q2 Solutions was one of 12 companies to receive the award this year, recognizing the company’s ongoing contributions to Lilly’s drug development efforts.


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24 Jun 2016

PENTAX Medical Appoints Dr. Hudson Garrett, Global Chief Clinical Officer

PENTAX Medical, a division of HOYA Corporation, announced the appointment of Dr. Hudson Garrett to the position of Global Chief Clinical Officer. In this executive role, Hudson Garrett is responsible for leading all PENTAX Medical clinical related activities globally.


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24 Jun 2016

OT Releases First Dual Interface Product Matching All New Visa and MasterCard Specifications for US Market

OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced that it has released its new multi-payment dual interface card developed on OT’s Global PlatformTM and JavaTM-based operating system.


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23 Jun 2016

Egypt's local wheat purchases thrown into question amid fraud allegations

CAIRO/ABU DHABI, June 22 (Reuters) - Egypt has launched a government-led recount of its wheat silos after an unusually high procurement figure spurred widespread fraud allegations from top industry officials, traders and parliamentarians.

Egypt said last week that in the latest procurement season it bought nearly 5 million tonnes of local wheat from...

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23 Jun 2016

UK Restrata inks aviation security deal with Egypt's Falcon

British company Restrata has signed Tuesday an aviation security deal with the Egyptian private security firm Falcon Group International.British Ambassador John Casson and Egyptian Minister for Civil Aviation Sherif Fathy witnessed the signing of a contract between Restrata and Falcon, confirming Restrata as Falcon Group's aviation security consultant of choice....

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23 Jun 2016

TDA to begin examining land bids by companies in July: TDA head

Cairo: The Tourism Development Authority (TDA) intends to begin examining requests for the latest tenders of available land in early July, according to TDA CEO Serag El Deen Saad.

According"...

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23 Jun 2016

EAEF increases financing to $96m in Egyptian startups

The Egyptian-American Enterprise Fund (EAEF) announced that it has increased its investments in the Egyptian market to nearly $100m on Monday in a semi-annual letter to its shareholders.

In 2015, EAEF invested $76m into two new financial service companies, Fawry and Sarwa Capital. Both companies"...

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23 Jun 2016

Egypt’s budget deficit widens to 9.8%

CAIRO: Rising public sector wages and welfare costs caused Egypt’s budget deficit to widen to 9.8 per cent of gross domestic product (GDP) in the first 10 months of the financial year, up from 9.5 per cent a year earlier, the finance ministry said in a statement.

In its monthly report for May, the ministry said the budget deficit stood at 273 billion...

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23 Jun 2016

Egypt Foods workers continue partial strike, despite management’s offer

Workers at the Egypt Foods snacks factories have continued their partial strike which officially started last Wednesday. The strike comes as a response to the suspension of 21 workers, who had demanded the “improvement of their economic rights”.

A worker in one of the factories"...

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