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The Egyptian Holding Company for Airports and Air Navigation (EHCAAN) received two bids from Japanese companies to build the planned new terminal at Borg El Arab Stadium near Alexandria, Chairman Ahmed Genena said, according to Al Shorouk. The winning bid will be chosen in a month. The new terminal will span 34k sqm and will […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt’s Domty signs agreement with America’s AMF for EGP 500 mn bakery line
The Arabian Food Industries Company (Domty) signed an agreement last week with US bakery equipment manufacturer AMF Bakery Systems to purchase and install a third EGP 50 mn bakery line, the cheesemaker said in a bourse disclosure (pdf). The new line, which is expected to come online in February 2020, will add a daily capacity […]
Posted inHealth + Education
CHG shareholders approve establishing JV to develop Nahda hospital
Cleopatra Hospitals Group’s (CHG) shareholders approved an agreement with Al Taaleem Management Services to set up a joint venture that will rebuild, develop, operate, and manage Al Nahda Hospital, the company said in a bourse filing (pdf). The JV will be 90% owned by CHG, with the remaining 10% held by Al Taaleem, the owner […]
Posted inReal Estate + Housing
Tatweer Misr says North Coast’s Fouka Bay investments worth EGP 4 bn
Tatweer Misr is investing an estimated EGP 4 bn in its Fouka Bay project on the North Coast, excluding land value and marketing expenses, CEO Ahmed Shalaby told Reuters Arabic. Shalaby did not disclose when the development would be complete. The company is considering investing outside Egypt in 2023, and is interested in Rwanda, Morocco, […]
Posted inTourism
Two Cairo hotels mentioned in Travel and Leisure’s best MENA hotels list
Four Seasons Hotel Cairo and Cairo Marriott Hotel both made it onto Travel and Leisure’s list of “The 10 Best City Hotels in North Africa and the Middle East,” coming in at #5 and #10 respectively. Royal Mansour in Marrakech came first and Jumerirah in the UAE came second.
Posted inBanking + Finance
Six Egyptian banks begin disbursing EGP 3.1 bn loan to Samcrete
Six local banks — the National Bank of Egypt, Banque Misr, Banque du Caire, SAIB Bank, Suez Canal Bank, and the Export Development Bank of Egypt — have begun disbursing a EGP 3.1 bn loan to Samcrete for its work in a residential district in the new administrative capital, Al Shorouk reports.
Posted inOther Business News of Note
Beltone Financial shareholders approve capital increase to EGP 898.4 mn
Beltone Financial shareholders have approved a capital increase to EGP 898.4 mn from EGP 338 mn, the company said in an EGX disclosure (pdf).
Posted inEgypt Politics + Economics
Court freezes assets of 83 defendants accused of plotting to bring down gov’t
A Cairo criminal court upheld on Sunday a ruling by the state security prosecution to freeze the assets of 83 defendants who are accused of conspiring with the Ikhwan to bring down the government on the anniversary of 30 June, MENA reported. The court also banned them from travel and ordered the confiscation of the […]
Posted inON YOUR WAY OUT
Egypt’s first no-gluten bakery opens in Zeitoun
Egypt’s first no-gluten bakery has opened in Zeitoun, with founder Hamdy Mohamed Hussein saying that he decided to sell no-gluten products when he saw people suffering from coeliac disease and the lack of awareness about gluten intolerance, Africa News reports. Hussein hopes that his bakery, “Chef Hamdy,” will help to raise awareness of the condition […]
Posted inON YOUR WAY OUT
Ancient Egypt’s King Tut coffin needs eight months of restoration work
King Tut’s coffin needs eight months of restoration work: The Antiquities Ministry has handed over Tutankhamun’s gold-plated sarcophagus to a team at the Grand Egyptian Museum (GEM) for a restoration process that could take up to eight months, early restoration manager at the museum Eissa Zidan said at a press conference, according to Al Mal. […]