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Transport Minister Kamel El Wazir met on Sunday with a World Bank delegation to discuss a potential cargo railway line connecting Alexandria with the Sixth of October dry port, according to a ministry statement. El Wazir tapped the Egyptian National Railways to conduct a feasibility study on the line. The USD 100 mn dry port […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Egypt and China talk collaboration in plans to build electric car factory
Public Enterprises Minister Hisham Tawfik discussed with Chinese Ambassador to Cairo Liao Liqiang incentives the government will offer to partners in the joint project between China and El Nasr Automotive to set up an electric car factory, the ministry said in a statement (pdf), without providing further details. The ministry signed last month an agreement […]
Posted inON YOUR WAY OUT
Egyptian food security startup Proteinea wins first place in Changelabs cycle
Food security startup Proteinea wins first place in Changelabs accelerator cycle: Proteinea, an Egyptian startup that provides food security and agriculture services, won first place in startup accelerator Changelabs’ first cycle, Al Mal reports. The startup was awarded EGP 1.5 mn from Blom Bank and the Dutch Development Bank (FMO).
Posted inON YOUR WAY OUT
Environment Ministry to impose fees on Egypt’s natural reserves
The Environment Ministry is slapping fees on the use of Egypt’s “natural reserves,” including beaches, according to Egypt Today. According to the ministerial decision, Egyptians will be required to pay a EGP 25 “entrance fee” for any area that falls under the “natural reserves” category, while foreigners will be required to pay USD 5 during […]
Posted inON YOUR WAY OUT
Egyptian college student offers female orphans digital literacy classes
Egyptian college student Nancy Awad is offering female orphans in Egypt digital literacy classes with her initiative, Benat Seshat, according to StepFeed. Awad tells Stepfeed the initiative is meant to give the girls and women a concrete skill that will better equip them for the workforce. Benat Seshat’s pilot program brought together 40 young women […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.47 | Sell 16.61 EGP / USD at CIB: Buy 16.48 | Sell 16.58 EGP / USD at NBE: Buy 16.50 | Sell 16.60 EGX30 (Monday): 14,291 (-0.4%) Turnover: EGP 787 mn (32% above the 90-day average) EGX 30 year-to-date: +9.6% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
August: Meetings of the Egyptian-Belarussian Committee for trade, economic, scientific and technical cooperation, Minsk. August: The National Railway Authority is expected to sign a 15-year maintenance agreement for 1,300 railcars it had agreed to purchase from Russia’s Transmashholding under a EGP 22 bn contract. 25-27 August (Sunday-Tuesday): G7 Summit, Biarritz, France. 28-30 August (Wednesday-Friday): Tokyo […]
Posted inWhat We're Tracking Today
What we’re tracking on 26 August 2019
All the local business press could talk about yesterday is how much the CBE’s rate cut on Thursday is a positive move for Egypt’s business climate. We have chapter and verse on what the move means for the state budget and businesses in Speed Round, below. The global press, meanwhile, has been squarely focused on […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s energy sector attracts EGP 1 tn investments
Energy news led the discussion on the airwaves on an otherwise uneventful night: The petroleum sector has seen EGP 1 tn in investments, Al Hayah Al Youm’s Khaled Abu Bakr said, citing figures disclosed by Oil Minister Tarek El Molla to Prime Minister Moustafa Madbouly in a meeting yesterday (watch, runtime: 02:50). There was no […]