Back to the complete issue
Monday, 19 December 2022

Egypt’s debt problems and Mediterranean migration are making headlines globally this morning

It’s a mixed bag of nuts in the foreign press this morning, with no single story capturing the attention of international journalists. Among the stories making headlines:

  • CNN takes a look at what it calls a “massive hole of debt” in state finances after the IMF approved the USD 3 bn loan last Friday.
  • Egypt-born bn’aire Mohamed Mansour was appointed senior treasurer of the UK Conservative Party, a key fundraising role for the party. Mansour’s company Unatrac has donated upwards of GBP 600k to the Tories, the Guardian and the Telegraph report.
  • The Guardian reports on a threefold increase in the number of Egyptians making the dangerous journey to Italy across the Mediterranean from Libya, as a cost of living crisis fuels the business of people smuggling.
  • Former CBC owner and convicted pedophile Mohamed El Amin has died of cancer just a few months into serving his three-year prison sentence. (The National)

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.