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The Antiquities Ministry will accept bids for the tender to manage the Grand Egyptian Museum (GEM) until mid-September and announce the winner at the end of the year, government sources told the local press. Five consortiums made up of Egyptian, British, Italian, French, and American companies have placed bids, and a UAE-based company has applied […]
Author Archives: enterpriseam admin
Posted inTourism
Industry expects high winter hotel occupancy in Egypt
Hotel occupancy rates are expected to increase during the winter season across Egypt, industry players expect. Hotels in Cairo, which have been seeing rates of between 60-70%, are expected to witness a 20% increase in rates and a “slight” increase in room prices on the back of higher operating costs, Egyptian Tourism Federation board member […]
Posted inNational Security
Pakistan to buy 36 retired Egyptian jets
Pakistan will buy 36 Dassault Mirage-V combat jets from Egypt as tensions with India rise over disputed territory in Kashmir, according to Sputnik News. The contract has been in the works for years, but recent events have given Pakistan an additional push to sign.
Posted inMy Morning Routine
My Morning Routine: Manal El-Jesri, Public Affairs Manager for Methanex Egypt
Manal El-Jesri, Public Affairs Manager for Methanex Egypt: 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 Manal El-Jesri, Public Affairs Manager for Methanex Egypt, an affiliate […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.46 | Sell 16.59 EGP / USD at CIB: Buy 16.46 | Sell 16.56 EGP / USD at NBE: Buy 16.48 | Sell 16.58 EGX30 (Wednesday): 14,841 (-1.1%) Turnover: EGP 783 mn (29% above the 90-day average) EGX 30 year-to-date: +13.9% THE MARKET ON WEDNESDAY: 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 4 September 2019
Good morning, ladies and gentlemen. Can we start by saying how grateful we are that public schools are not yet back in session, meaning Cairo traffic is not at its worst these days? We expect that to change in a little over two weeks, though: Schools are expected to open their doors again on 21 […]
Posted inEnterprise+: Last Night’s Talk Shows
Little to occupy Egypt’s talking heads last night
President Abdel Fattah El Sisi’s meeting with IMF managing director nominee Kristalina Georgieva was the main topic on an otherwise bland night on the airwaves, with Masaa DMC and Hona Al Asema among those taking note (watch, runtime: 1:44 and runtime: 2:44). We have the full story in Diplomacy + Foreign Trade, below. Gov’t taking […]
Posted inSpeed Round
Egypt’s non-oil business activity shrinks again in August
Non-oil business activity shrinks again in August: Falling output caused activity in Egypt’s non-oil private sector to contract in August after a month of expansion in July, according to the Markit/Emirates NBD purchasing managers’ index (PMI) (pdf). The PMI gauge fell to 49.4 in August from 50.3 in July, indicating a slight slowdown in the […]