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Posted inEGYPT IN THE NEWS
Egypt in the News on 7 August 2019
We’re all for having our strengths praised in the Nigerian press (even if it sometimes comes with a dash of hyperbole): A flowery piece in Nigerian outlet the Guardian continues this week’s theme of All The Things Egypt Gets Right, with the main thrust being that the writer’s Afcon visit left him impressed with our […]
Posted inWorth reading
Ever noticed how Egyptians don’t really know their PO boxes? The Ivory Coast has a bigger issue: No street signs
Ever noticed how Egyptians don’t really know their PO box numbers? It’s a bit of a pain when you’re ordering something online from abroad and are tempted to type in any random five numbers, knowing that your package might end up somewhere in Sohag instead of your neighborhood. But that’s really not a big issue […]
Posted inWorth watching
Netflix documentary double bill shines a spotlight on privacy, data, and the threat of social media
Netflix documentary double bill shines a spotlight on privacy, data, and the threat of social media: Facebook’s reputation as the world’s biggest espionage agency is in the spotlight again these days with the release of the Netflix documentary The Great Hack (watch, runtime: 1:54:13). The film does a pretty good job chronicling the 2017 Cambridge […]
Posted inEnergy
Egyptera sets new network usage prices for independent power producers
The Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera) has set new network usage prices for independent power producers that directly supply consumers, sources told the local press. Ultra-high voltages will be charged at 3.26 piasters per kWh, high voltages cost 8.43 piasters per kWh and medium voltages will carry a charge of 10.83 […]
Posted inInfrastructure
Egypt Navy signs MoU with China’s Hutchison to build Abu Qir port terminal
The Egyptian Navy signed yesterday an MoU with China’s Hutchison Ports to build a container terminal in Abu Qir, according to an Ittihadiya statement. The Chinese company will train more than 1.5k Egyptian engineers and workers to carry out the different roles required at the port. The port is expected to see 1 mn containers […]
Posted inAutomotive + Transportation
Egypt signs contract for metro trains and locomotives with Hyundai Rotem, Socofer
The National Tunnels Authority signed two contracts with South Korea’s Hyundai Rotem and France’s Socofer to provide 6 new metro trains and 2 locomotives for line 2 of the Cairo metro,according to a Transport Ministry statement. Hyundai will provide the new trains at a cost of USD 131 mn and the first train will arrive […]
Posted inBanking + Finance
Egypt’s FRA grants Shuaa short selling license
The Financial Regulatory Authority (FRA) has granted Shuaa Securities a short selling license, Masrawy reported. The growing listof brokerages authorized to short sell includes Arqaam, EFG Hermes, CI Capital, the Arab African International Securities, Prime Holdings, HC Securities, and Premiere Securities. Short selling transactions are due to hit the EGX in 3Q2019, FRA deputy head […]
Posted inBanking + Finance
Prime Holding moves ahead with establishing consumer financing arm
Prime Holding plans to establish a EGP 100 mn consumer finance subsidiary, Prime said in a bourse filing (pdf). The move comes days after the firm’s CEO Mohamed Maher said that the company was considering the move.
Posted inEgypt Politics + Economics
FRA to launch arbitration center in early 2020
The Financial Regulatory Authority (FRA) plans to launch its own arbitration center to settle non-banking finance related disputes in early 2020, the FRA’s Vice Chairman Khaled El Nashar told Al Mal. The FRA is working on completing the administrative structure of the center, which will be specialized in handling arbitration cases between companies and their […]