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Dice’s new rubber band factory in Burg Al Arab began operations this month, the company said in a bourse filing (pdf). The factory is operating at a 60% production rate and should reach its full production capacity of 20 mn meters a year at the start of 2020.
Author Archives: enterpriseam admin
Posted inHealth + Education
Amer Group signs agreement with NIS to build school in Port Said
Amer Group has signed with Dr. Nermien Ismail Language Schools (NIS) an agreement to build a school in Port Said, CEO Hosni Amr told the local press. The agreement comes as part of Amer’s plans to expand into the education sector. No details were provided on the cost or timeline of the project.
Posted inTourism
Egypt to build new museum in new administrative capital
The Supreme Council of Antiquities has signed a cooperation protocol with the Masa Group to build in the new administrative capital (NAC) a new museum dedicated to showing how the country’s capital has developed throughout history, Ahram Online reported. The new museum will be located in the NAC’s arts and culture center and its revenues […]
Posted inTourism
Pyramids renovation project is set to open 1Q 2020
The government is due to open its USD 500 mn pyramids renovation project in 1Q2020, an Antiquities Ministry spokesperson said, according to MENA. The ministry will partner with Orascom Investment Holding to provide electric buses at the plateau starting in April 2020.
Posted inTourism
Egypt reopens Tanta Museum after restoration and 19 years of inactivity
The Antiquities Ministry has reopened the Tanta Museum after 19 years of being closed to the public, Minister Khaled El Anany said at a press conference, according to Al Masry Al Youm. The museum houses north of 2k ancient Egyptian, Greco-Roman, Coptic and Islamic artifacts discovered in the Nile Delta. It was restored at a […]
Posted inBanking + Finance
Marakez signs EGP 1.5 bn syndicated loan for Mall of Katameya construction
Mall developer Marakez has signed a EGP 1.5 bn syndicated loan agreement to finance the first phase of its planned Mall of Katameya in east Cairo, according to an emailed statement (pdf). The lending banks are Banque Misr, Banque du Caire, the Arab African International Bank, Misr Iran Development Bank, and the Arab International Bank.
Posted inBanking + Finance
EFG receives EGP 450 mn subscription requests for “Mazid” fund
Our friends at EFG Hermes have received EGP 450 mn-worth of subscription applications for investment certificates issued by the “Mazid” open-ended money market fund, head of asset management at EFG Nabil Moussa said. The firm accepted EGP 250 mn-worth of applications for the fund, which it manages for Emirates NBD. The Mazid fund “invests in […]
Posted inBanking + Finance
Hegazy & Partners to form consortium with Moamalat advisory on sukuk issuances
Hegazy & Partners law firm is planning to form a consortium with Moamalat advisory firm to co-manage the issuance of about USD 150 mn of sukuks, Managing Partner Walid Hegazy told Al Mal. The issuances are expected in 1H2020, Hegazy said. The firm is also planning to enter partnerships with peers from China and the […]
Posted inLegislation + Policy
Egypt’s investor associations union to submit suggestions for NGOs Act exec regs
The Union of Egyptian Investors Associations has asked 52 of its member organizations to compile their suggestions on what they would like to see included in the executive regulations of the recently-ratified NGOs Act, Secretary-General Mohamed Shaaban told the press. The executive regulations must clearly explain the law’s stipulations, Shaaban added, without specifying the union’s […]
Posted inEgypt Politics + Economics
Egypt’s population may exceed 130 mn by 2030
Egypt’s population may exceed 130 mn by 2030, posing a challenge to the state’s sustainable development goals, said Planning Minister Hala El Said in a statement yesterday. The ministry has outlined a strategy for this fiscal year to curb the increasing population growth rate. Among the strategy’s goals are raising awareness of family planning and […]