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Export-oriented Nile Linen Group is planning to inaugurate in late February a EGP 200 mn textiles factory in the Amreya customs-exempt industrial zone, Chairman Saeed Ahmed said. The new facility will produce 28k meters a day, and will be financed through equity, Ahmed said.
Author Archives: enterpriseam admin
Posted inHealth + Education
Egypt’s education ministry limits foreign ownership in int’l schools
Education Minister Tarek Shawki has issued a decision to implement a 20% cap on foreign investor ownership in international schools, according to a decree seen by the press. The cap applies to dual-passport holders, foreigners, and funds, “whether individually or as a group.” Sources tell the press that the decision could negatively impact M&A activities […]
Posted inReal Estate + Housing
AlHokair’s Marakez looking for land for a mall in Egypt’s Assiut
Marakez for Real Estate Investment is planning to develop a new shopping mall in Salam City on the Cairo-Ismailia road at a cost of EGP 250 mn, Chief Business Development Officer Ashraf Farid said, according to Al Shorouk. The mall will feature both open-air areas and retail stores. The Fawaz AlHokair Group subsidiary is also […]
Posted inAutomotive + Transportation
Egypt wants to supply 4-5% of Renault Morocco’s automotive component needs
The Egyptian-Moroccan Business Council is in talks to have Egyptian automotive component manufacturers supplying Renault’s Moroccan manufacturing facility with 4-5% of its component needs, council member Kamal El Dessouky tells the local press. According to El Dessouky, Egyptian companies are looking to supply the seats, windows, windshields, and isolation materials for the French car manufacturer. […]
Posted inAutomotive + Transportation
Egypt’s transport authority raises private bus monthly fees
The Public Transport Authority issued a decision to raise the monthly fee paid by private bus route operators in Cairo five-fold to EGP 20k per bus, up from EGP 5k, reports Al Masry Al Youm. The decision was expectedly met with backlash from 12 companies affected by the decision, who said in a memo to […]
Posted inMy Morning Routine
My Morning Routine: Aly El Shalakany, Senior Partner at Shalakany
Aly El Shalakany, Senior Partner at Shalakany: My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Aly El Shalakany, Senior Partner at Shalakany, one of Egypt’s largest […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.26 | Sell 16.38 EGP / USD at CIB: Buy 16.26 | Sell 16.36 EGP / USD at NBE: Buy 16.30 | Sell 16.40 EGX30 (Wednesday): 14,745 (-0.1%) Turnover: EGP 613 mn (4% below the 90-day average) EGX 30 year-to-date: +13.1% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
21 September (Saturday): Cairo’s streets get really, really crowded as students at the nation’s public schools go back to class. 23 September (Monday): “The future of investment in Egypt,” a conference organized by the Egyptian Businessmen Association, Alexandria Businessmen Association, and the Egyptian Junior Business Association, Aida Ballroom, Cairo Marriott Hotel. 23-25 September (Monday-Wednesday): Engineering […]
Posted inWhat We're Tracking Today
What we’re tracking on 18 September
Today we find out if the US Federal Reserve will decide to give markets the rate cut it so desperately needs. An announcement will come in the wee hours of Thursday morning CLT, so look for the results in Thursday morning’s issue. The decision comes during a very tough week for markets following heightened tensions […]