Connect with us

Now

Falak Startups Hosts Inaugural Demo Day from Thirteen Egyptian Governorates

Published

on

Falak Startups, in partnership with EFG-EV Fintech, announced its official launch to the regional entrepreneurial and investor community through an inaugural Demo Day sponsored by the SANAD Fund for MSME. Fifteen high-growth startups from thirteen governorates presented their refined business models, in an effort to secure funding from Egyptian and regional investors.

Falak (largest startup accelerator in the Middle East and Africa) organized  4-month acceleration program provides entrepreneurs with funding, mentorship, training, and comprehensive all-round support, in order for Egyptian youth  to thrive and compete in the global economy.

“Entrepreneurial success, especially within our young demographic, creates positive spillover effects throughout the entire economy, supports our goal to achieve wider financial inclusion and boosts job creation on the macroeconomic level. It is an essential component in creating a sustainable engine for long-term economic growth.” Said Dr. Sahar Nasr, Minister of
Investment and International Cooperation.

Dr. Shehab Marzban, Chairman of Egypt Ventures and Senior Advisor to the Minister of Investment and International Cooperation also added: “We’re very proud to see our youth develop strong business cases out of mere ideas they came to us with only months ago. Falak Startups will serve as a platform from which we aim to launch numerous acceleration programs, spanning across multiple sector industries. The feedback received today was tremendously positive, and is a strong reflection of the private sector’s support of our mission, as they are key partners in this journey to establish a dynamic, globally-competitive ecosystem”

The event took place at the Golden Room Hall in Prince Mohamed Ali (Manial) Palace, and was attended by y Dr Sahar Nasr, Minister of Investment and international Cooperation, Dr Ali ELMoselhy, Minister of Supply, Dr Rania Al Mashat, Minister of Tourism, Khaled Badawi, Minister of Public Enterprise, Dr Shehab Marzban, Senior Advisor to the Minister of Investment and International cooperation and Chairman of Egypt Ventures, Mohamed Fareed, Executive Chairman at the Egyptian Stock Exchange, General Mohamed Amin, Treasurer of the ‘Tahya Masr’ Fund, MP Amr Ghalab, Chairman of the Economic Committee of the House of Representatives, as well as numerous foreign dignitaries, prominent businessmen and investors, and entrepreneurs.

Some of the startups that participated in the event were Pay Nas, Auto Parts, Masry Market, 3elagi and Olli.

Now

Uber Plans to buy its rival company in the Middle East ‘Careem’

Published

on

By

Uber is announcing a $3.1 billion acquisition of Careem in a cash and stock deal, that is happening this Tuesday, Bloomberg also reported that Uber intents on paying $1.4 billion in cash and $1.7 billion in convertibles notes for Careem as Uber shares.

The Dubai-based company shareholders that includes Saudi Prince Alwaleed bin Talal’s investment firm and Japanese e-commerce company Rakuten Inc. have until Monday night to study and discuss the offer, and the decision is expected to be made as early as Tuesday.

According to Bloomberg, none of the spokespeople for Uber and Careem gave a comment on the matter, whereas Uber’s spokesperson Matt kallman refused to give out any statements, Careem’s spokesperson Maha Aboul Enein was unavailable for a comment.

This bid is considered to be one of the biggest-ever listings of the New York Stock Exchange, and it has come before an imminent initial public offering.

It is believed that Uber is publicly filing for its IPO in April, meaning that the company’s value is expected to increase to USD 120 billion. And with Careem out of the way, Uber will thus be monopolizing the region; which will make the stock a much more valuable one.

Also, let’s not forget, that on top of all that, Saudi Arabia is one of the company’s largest backers; which increases the chances of receiving more funding due to the wealth fund of the Kingdom.

On the other hand, some problems is expected to surface after this take over happens, problems that both companies have been facing in term of regulations with the Egyptian Competition Authority and the threat they impose on the merger through a potential fine worth USD 28 million.

 

Continue Reading

Now

Sherine Abdel Wahab Banned From Singing after Insulting Egypt

Published

on

By

The Musicians Syndicate announced in a statement released on Thursday, March 21, announcing that Egyptian singer Sherine Abdel Wahab has officially been banned from singing in Egypt after insulting the country in a concert performance in Bahrain.

The singer was banned for questioning the freedom of speech in Egypt, saying that: ‘’ I can talk here with complete freedom, in Egypt anyone who talks freely is going to be jailed’’ said Abdel Wahab, during the concert.

Lawyer Samir Sabry submitted a complaint against the singer to the Egyptian general prosecutor accusing her of insulting Egypt during her latest concert in Bahrain.

Later that day, Sherine interfered in a phone call during a TV interview with Amr Adeeb, in which she apologized once again, claiming that she was only joking, and that she is very upset over everything being said against her.

“I am very tired. I made a mistake. I am sorry. I appeal the president of the Arab Republic of Egypt, who is our father. I feel that I was persecuted. I did nothing. I love Egypt,” she said.

While the incident angered several people, others are standing with the Egyptian singer and a hashtag supporting her is now trending on social media, asking for authorities to forgive the incident.

View this post on Instagram

شيري فنّانه رفيعة المستوى … طيّبه عفويه لدرجة ، قد لاتُصيبُ بالتّعبير عمّا لاتقصد، وأنا كغيري الكثير ممّن يعرفونها، على ثقة بأنّها ستتريّث فيما لايجب أنّ يحصل ، وثقتنا بالفنّان الكبير الأستاذ هاني شاكر، كبيره بأنّ يكون له طيب الأثر، بوقفة مع مطربة يفخر بها الفنّ ، غذّت المشاعر ، وقوّمت قلوب ، وتغنّت بجميع أنواع المشاعر ، وتألّقت بأغاني الوطن ، وأنّ تمرّ هذه المحنة على خير ، وكلّنا ثقه بأنّها ستزيد تألّقاً ، في عالم يحتاجها ، إنّ شكّ يوماً بولاءها ، حتماً سيرجع يصفح عنها ، لأنّها منه وهو يزهو بها #أصاله #متضامن_مع_شيرين @sherine

A post shared by Assala (@assala_official) on

 

Continue Reading

Now

49 Muslims killed in New Zealand Mosque terror attack

Published

on

By

Earlier today, Muslims in New Zealand faced a horrific act of terrorism in which a number of extremists attacked two mosques in Christchurch; resulting in the death of around 49 people and the injury of dozens.

Among the dead is at least a child and a number of female worshipers, in addition to a number of teenagers who were also reported to have been fallen victims of the attack.

It is still not clear what exactly happened, but police reports indicated that 4 people are currently in custody. But investigations are still going on to know whether or not these four were involved in the shootings.

The four people include three men and one woman. Among the men is an Australian citizen, right-wing terrorist by Australian Prime Minister Scott Morrison. New Zealand police say one male – in his late twenties – has been previously charged with murder.

With investigations still going on, New Zealand Prime Minister Jacinda Arden indicated that “this will be one of New Zealand’s darkest days”.

The shooting at Al Noor Mosque, that is located in central Christchurch, happened around Friday prayers, meaning that many Muslims were likely inside at the time.

We are infuriated to have woken up on such horrific news, and our hearts and prayers go to the families of the victims, and all the Muslims in New Zealand.

 

 

Continue Reading
Event calender
Cinema calender

Cinema calender

Facebook

Fashion

Categories

Top Posts

Trending

X