Back to the complete issue
Sunday, 28 March 2021

Also on our Radar on 28 March 2021

Malware attacks in Egypt jumped 21% y-o-y in 2020, according to the latest statistics released by the Kaspersky Security Network picked up by the local press. The country also recorded an 8% rise in threats targeting cryptocurrency mining, despite these attacks falling 24% globally. However, the country has seen "the largest decline in banking trojans" in the region after attacks fell 16% against a global increase by 29%, Maher Yamout, a senior security researcher in Kaspersky’s global research and analysis team, said. In addition, ransomware infections dropped 27% due to greater awareness, the report added.

Other things we’re keeping an eye on this morning:

  • Smartphone sales in Egypt grew 10.6% y-o-y to 11.9 mn units in 2020 as “strong demand” from people working and studying remotely offset consumer purchase power drops during the pandemic, market researcher IDC said in a recent report.
  • Egypt is angling for an unspecified amount of funding from the European Bank for Reconstruction and Development to conduct feasibility studies on the Damietta Dry Port.
  • Lufthansa operated yesterday the first flight from Frankfurt to Hurghada after an almost one-year hiatus, with a weekly flight planned on this route. Polish charter airline Enter Air also operated the first two flights to Sharm El Sheikh since border closures in March 2020.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.