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Global Telecom Holding (GTH) has completed its delisting from the EGX by buying all of its EGX-listed shares (32.9 mn) for a total of EGP 176.4 mn or EGP 5.08 per share, the Egyptian Exchange said, according to Dostor. Majority shareholder Veon bought 1.99 bn shares of GTH for EGP 9.7 bn in a mandatory […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
State employees to move to Egypt’s new capital starting 1Q2020
Civil servants will gradually be transferred to the new administrative capital starting from 1Q2020, Deputy Housing Minister Khaled Abbas said, according to Mubasher. The government aims to accommodate up to 50k employees during the first phase, with plans to increase this figure to 100k by the end of 2022.
Posted inEgypt Politics + Economics
China-led project to assemble Egypt’s Misr Sat 2 kicks off
The project to assemble Egypt’s new satellite, Misr Sat 2, kicked off over the weekend during the China-Arab States Expo, Mamdouh Salman, the Egyptian embassy’s trade commissioner in Beijing said. The satellite will be used to transmit satellite imagery to aid agricultural and urban planning, meteorological forecasting, and promote more effective natural disaster aid responses. […]
Posted inSports
EFA allows 20,000 football fans to see Egypt Cup final
The Egyptian Football Association (EFA) is allowing up to 20k fans to attend tomorrow’s Zamalek-Pyramids Egypt Cup final match at Borg El Arab stadium, and began selling tickets on Thursday, the association said in a statement.
Posted inON YOUR WAY OUT
‘Poisonous Roses’ chosen to represent Egypt in Oscars
Egypt selects ‘Poisonous Roses’ to enter 2020 Oscars foreign film category: Ahmed Fawzi Saleh’s 2018 Ward Masmoum (translated to Poisonous Roses) was chosen to represent Egypt at the 2020 Oscars for Best Foreign Language Film by the Cinematic Professions Syndicate on Thursday, according to Ahram Online. The film is based on Ahmed Zaghloul Al-Shiti’s 1990 […]
Posted inON YOUR WAY OUT
Nakhlite meteorites tell the story of liquid water on Mars
Egyptian meteorites tell the story of water on Mars: Two meteorites that hit Egypt in 1911 hold crucial information about life on Mars. A recently published study by Glasgow University describes how planetary scientists used a specialized technique to examine the meteorites (known as nakhlites, because they fell in El Nakhla). The technique provides new […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.42 | Sell 16.55 EGP / USD at CIB: Buy 16.42 | Sell 16.52 EGP / USD at NBE: Buy 16.45 | Sell 16.55 EGX30 (Thursday): 14,933 (+0.6%) Turnover: EGP 920 mn (50% above the 90-day average) EGX 30 year-to-date: +14.6% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
September: Cairo will host an Egypt-Hungary business forum, according to a Trade Ministry statement (pdf) 8 September (Sunday): The Supreme Administrative Court has postponed appeals filed by the State Lawsuits Authority and a number of companies to bring back the now-canceled 15% import duty on iron billets after two judges resigned from the panel, Mubasher […]
Posted inWhat We're Tracking Today
What we’re tracking on 5 September 2019
We spoke too soon yesterday: The news slowdown is not quite over yet, and this morning is proof that the summer lull is still very real. We know we’ll regret these words in a few weeks’ time. Our My Morning Routine section is back this morning after a brief hiatus with Methanex Egypt’s Manal El-Jesri. […]