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Author Archives: enterpriseam admin
Posted inGO WITH THE FLOW
What the markets are doing on 23 January, 2023
The EGX30 rose 0.4% at today’s close on turnover of EGP 2.4 bn (40.6% above the 90-day average). Local investors were net sellers. The index is up 10.9% YTD. In the green: Cleopatra Hospitals (+4.8%), Heliopolis Housing and Development (+2.7%) and CIB (+2.4%). In the red: Alexandria Containers and Cargo Handling (-5.2%), Juhayna (-3.3%) and […]
Posted inTech
AI-powered mourning is not without its problems
Love, death + robots: A new batch of AI startups are hoping to immortalize the essence of the deceased, in what is now being dubbed “grief tech.” These startups — some already operational and others still under development — are using a number of machine learning approaches to reach a single end: Letting people interact […]
Posted inCALENDAR
JANUARY January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power. 25 January (Wednesday): 25 January revolution anniversary / Police Day. 26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center. 26 January (Thursday): President El Sisi will visit India as […]
Posted inWhat We're Tracking Today
THIS MORNING: Yesterday was a good one for the EGX.
Good morning, wonderful people, and a very happy Monday. If you’re among our Egypt-based readers, you need only get through today and you’ll officially be halfway through this shorter week. THE BIG STORY here at home: It’s all tourism as Travco Group says it will spend some EGP 7 bn to up its hotel capacity […]
Posted inUncategorized
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Posted inTourism
Travco wants to capitalize on the tourism rebound + Gov’t calls for USD 30 bn investments to reach 30 mn guests
High-profile tourism firm Travco Group plans to invest EGP 7 bn this year to raise its hotel capacity amid expectations of an increase in tourist arrivals, Bloomberg Asharq reports. The company is aiming to increase the number of rooms by 13% to 17k, Chairman Hamed El Chiaty reportedly told the news outlet. Around 60% of […]
Posted inDevelopment finance
Another USD 1.5 bn from the ITFC for energy and commodities imports
More imports money from the ITFC: The government has signed a fresh USD 1.5 bn financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund energy and basic commodities imports, according to a tweet by CNBC Arabia citing ITFC CEO Hani Sonbol. Sonbol yesterday met with the planning and oil ministers in Cairo […]
Posted inDEBT WATCH
ValU to kick off fresh EGP 5 bn securitization program this quarter
ValU is gearing up for its second securitization program: EFG Hermes’ buy-now-pay-later platform valU is studying a new EGP 5 bn securitization program which it hopes to start later this year, CEO Walid Hassouna told us. The company has almost finished its first program: The consumer finance player has sold more than EGP 1.7 bn […]