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The government is currently building seven bridges on the Nile in Upper Egypt at a cost of EGP 9.4 bn, according to an announcement by Transport Minister Kamel El Wazir picked up by Zawya. El Wazir met with the board members of the European Bank for Construction and Development (EBRD) to discuss funding for infrastructure […]
Author Archives: enterpriseam admin
Posted inTourism
Luxor has third highest number of hot air balloons in the world
Luxor has been ranked third for the highest number of hot air balloon flights in the world, with a grand total of 11,000 hot air balloons in one Egypt’s most touristic cities, said Ahmed Aboud, a representative for the Egyptian Federation of Hot Air Ballooning Companies in Luxor, according to Ahram Online. Hot air balloons […]
Posted inTourism
Dugong population threatened in Marsa Alam due to tourism
Environmental researcher Ahmed Shawky warned that tourism in the Red Sea, particularly Marsa Alam, may have serious consequences for dugongs, a marine mammal vulnerable to extinction, according to Al Masry Al Youm. Marsa Alam is one of the few areas in Egypt with a fair number of dugongs. Shawky urged that tourism companies and diving […]
Posted inTelecoms + ICT
Egypt nearing the bottom of the list of global internet speeds
Egypt was ranked 100 out of 144 countries in the monthly global study of mobile internet speeds taken by SpeedTest for July. The only thing that could make us feel better is that Egypt was up one place from a month prior (actually, it doesn’t). Egypt’s average download speed was at 17.37 Mbps, while the […]
Posted inAutomotive + Transportation
El Wazir talks potential investments in Egypt’s railways with Siemens, Thales
Transport Minister Kamel El Wazir met yesterday with representatives from Siemens and Thales Spain to discuss potential investments in Egypt’s railway projects, including the planned cargo and passenger line connecting Hurghada, Safaga, Qena, and Luxor, according to a ministry statement. The two companies also looked at potentially investing in the automation of the Tanta-Damietta railway […]
Posted inOther Business News of Note
Egypt’s Trade Ministry looks at new, lower three-year duties on steel billet imports
A Trade Ministry committee has recommended imposing anti-dumping duties on imported steel billets for three years starting mid-October, following the end of the temporary 15-25% duties on steel raw materials imposed by the ministry in mid-April, according to a statement (pdf). The ministry continued to charge manufacturers throughout the six-month period despite an administrative court […]
Posted inEgypt Politics + Economics
CBE announces four key pillars to its financial inclusion strategy going forward
Central bank Sub-Governor Lobna Helal laid out the pillars of the CBE’s financial inclusion strategy in a speech (pdf) at the meeting of the Council of Arab Central Banks and Monetary Agencies Governors earlier this week. The first pillar was strengthening the CBE’s regulatory and supervisory role in the banking sector, through legislative amendments (a […]
Posted inON YOUR WAY OUT
Don’t throw away used Nespresso capsules
Don’t throw away your used coffee capsules: The Association for the Protection of the Environment (APE) is collecting used Nespresso capsules and turning them into unique works of art, according to Scoop Empire. APE is an NGO which works directly with Cairo’s Zabaleen (informal garbage collectors). The project is getting support from social media users.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.29 | Sell 16.42 EGP / USD at CIB: Buy 16.29 | Sell 16.39 EGP / USD at NBE: Buy 16.33 | Sell 16.43 EGX30 (Monday): 14,970 (-0.4%) Turnover: EGP 1.5 bn (138% above the 90-day average) EGX 30 year-to-date: +14.8% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
17 September (Tuesday): E-Commerce Summit 2019, Nile Ritz Carlton, Cairo. 17-18 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate. 18 September (Wednesday): Egyptian Private Equity Association’s venture capital event (pdf) at the Conrad Hotel, Cairo. 21 September (Saturday): Cairo’s streets get really, really crowded as […]