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The Internal Trade Development Authority (ITDA) will launch next month tenders to build five logistics centers in Kafr El Sheikh, Suez, El Wadi El Gedeed, Sharkia, and the Red Sea — at an initial investment cost of EGP 14.2 bn, Supply Minister Ali El Moselhy said. The planned centers will span 120 feddans in the […]
Author Archives: enterpriseam admin
Posted inHealth + Education
El Nozha Hospital to begin construction on New Cairo project in September
El Nozha International Hospital is planning to begin construction on its new EGP 400 mn branch in New Cairo in September, board member Ahmed El Noury told the local press. The new hospital will have a capacity of 100 beds, with first-phase operations set to begin in 1Q2020.
Posted inHealth + Education
El Nahda University plans investing EGP 1.5 bn in expansions
El Nahda University in Beni Suef is planning to spend EGP 1.5 bn on constructing four new schools, the University’s president Hossam El Mallahy told Al Mal. It will also purchase new land to accommodate the expansion, which will increase the number of schools at the university to 11.
Posted inReal Estate + Housing
Alhokair’s Marakez to break ground on Mansoura mall in December
Alhokair Group’s Marakez Real Estate Investment expects to break ground on its planned mall in Mansoura in December and could invest EGP 5 bn in the project, Internal Trade and Development Authority (ITDA) head Ibrahim El Ashmawy said, according to Mubasher. Marakez had previously said it plans to invest EGP 1.4 bn.
Posted inBanking + Finance
AT Lease to launch factoring, SME-focused leasing services in 1Q2020
Al Tawfeek Leasing is planning to begin offering factoring and leasing services for SMEs during 1Q2020, CEO Tarek Fahmy has said. The company had been planning to launch these services before the end of the year.
Posted inLaw
Ragy Soliman establishes Adsero - Ragy Soliman & Associates law firm
Former Orascom Telecom general counsel Ragy Soliman has set up Adsero - Ragy Soliman & Associates law firm, according to a statement. “The firm will initially focus on transactional work, including M&A, capital markets, financing, structuring, corporate affairs and high-stake commercial litigation” before becoming a full service firm, the statement said.
Posted inEgypt Politics + Economics
Court sentences six to death in terror case
A court sentenced six defendants convicted of terror offences to death yesterday, Ahram Online reports. Forty-one other defendants were handed life sentences, seven received 15-year terms, while 14 others were acquitted. The defendants were found guilty of setting up an illegal group known as ‘the popular resistance committee’ in Kerdasa, and killing three people. The […]
Posted inON YOUR WAY OUT
Egyptian actor Ahmed El Fishawy handed one-month prison sentence for failing to pay child support
El Fishawy receives one-month jail sentence: Actor Ahmed El Fishawy was given a one-month prison sentence for failing to pay EGP 234k in child support for his teenage daughter, Egypt Independent reports. El Fishawy’s ex-wife’s, Hend El Hennawy, has been involved in court disputes with him since 2005 over their divorce.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.52 | Sell 16.66 EGP / USD at CIB: Buy 16.55 | Sell 16.65 EGP / USD at NBE: Buy 16.52 | Sell 16.62 EGX30 (Monday): 14,304 (-0.7%) Turnover: EGP 917 mn (57% above the 90-day average) EGX 30 year-to-date: +9.7% 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. 22 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee will […]