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Saudi Arabia’s Bahri Logistics will begin operating a cargo shipping line from Ain Sokhna Port to the Port of Houston today, according to Al Mal. This will be the first Ain Sokhna-Houston line to be operated. Bahri is in talks with Egyptian exporters and shipping companies to sign contracts to use the cargo line.
Author Archives: enterpriseam admin
Posted inBanking + Finance
SAIB leading group of Egyptian banks to arrange EGP 1 bn loan for Dorra Real Estate
SAIB Bank is in talks with a number of unnamed local banks to arrange a EGP 1 bn syndicated loan for Dorra Real Estate Development Group to fund projects in the new administrative capital, banking sources told Al Shorouk.
Posted inOther Business News of Note
Egypt launches website to create database of foreign investment
The General Authority for Investment (GAFI) has asked public and private sector companies to provide information about direct and indirect foreign investment on a newly launched website (Arabic) (English) built for statistical and auditing purposes, the Investment Ministry said in a statement.
Posted inOther Business News of Note
EgyptAir receives second A220-300 Airbus
Canada’s Bombardier has delivered a second Airbus A220-300 Airbus to EgyptAir under a supply contract that will see the flag carrier receive 12 of the aircraft as part of its fleet modernization plans, according to Al Shorouk.
Posted inLegislation + Policy
El Sisi approves amendments to medical profession law
President Abdel Fattah El Sisi ratified on Monday legislative amendments to the medical profession law, according to Ahram Online. Under the amendments, medical school graduates in Egypt will undergo mandatory training for one year to be eligible to join the Health Ministry's register of licensed medical professions. University graduates will also be required to pass […]
Posted inSports
El Welily, El Shorbagy win Oracle NetSuite championship following all-Egyptian finals
Egyptian squash champions Raneem El Welily and Mohamed El Shorbagy won the women’s and men’s Oracle NetSuite championship in San Francisco, after defeating compatriots Nour El Tayeb and Tarek Momen in an all-Egyptian final, according to the championship’s website.
Posted inON YOUR WAY OUT
Vodafone launches third edition of Vodafone Innovation Hackathon
Calling all tech enthusiasts: Vodafone Egypt launched its annual four-day innovation hackathon, which brings competitors to develop new ICT solutions, including AI and virtual reality, to support Egypt’s digital transformation, according to the local press. The team that comes in first place will receive a prize of EGP 120k, while the second place winner will […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.20 | Sell 16.33 EGP / USD at CIB: Buy 16.21 | Sell 16.31 EGP / USD at NBE: Buy 16.23 | Sell 16.33 EGX30 (Tuesday): 14,496 (+1.7%) Turnover: EGP 779 mn (15% above the 90-day average) EGX 30 year-to-date: +11.2% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
October: A forum will be organized by Russia’s Rosatom and the Nuclear Power Plants Authority to introduce local suppliers and contractors to the Dabaa nuclear plant. October: German businessman delegation will visit Egypt to discuss good projects in order to spend German funds into Egypt October: A delegation of 40-50 Saudi companies will visit Egypt […]
Posted inWhat We're Tracking Today
What we’re tracking on 01 October 2019
Today’s the day, ladies and gents: The House of Representatives reconvenes at 10am CLT today for its fifth and final legislative session before we’ll elect not just MPs to the House, but also a new Senate, which was reconstituted under the new constitution. What’s on the House’s agenda as MPs get back to business? We […]