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China’s Hangzhou Jinjiang Group and Saudi’s Ajlan & Bros Group are planning to establish an aluminum factory in Egypt, according to a Trade and Industry Ministry statement. Details on the project’s timeline, location, or expected cost were not disclosed. The facility would include aluminum and caustic soda processing plants, as well as two water desalination […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Cairo University to open Egypt’s first nanotech faculty
Cairo University will open Egypt’s first nanotechnology faculty in the upcoming academic year after Cabinet greenlit plans on Thursday, Ahram Online reports. The faculty will train researchers on the applications of nanotech, and build on the research undertaken by the Egypt Nanotechnology Center (EGNC).
Posted inReal Estate + Housing
NUCA to auction 5k land plots in 18 new cities by the end of 2019
The New Urban Communities Authority (NUCA) is planning to auction 5k land plots in 18 new cities before the end of 2019, Housing Ministry sources told the local press. The authority, which is currently conducting an evaluation to determine the size of available land in new cities, has yet to decide the prices.
Posted inSports
Egypt’s Farida Osman brings home another bronze medal
Egyptian Olympian swimmer Farida Osman brought home a bronze medal after finishing third in the women’s 50m butterfly finals at FINA World Championships 2019 in Gwangju. Osman finished third after Sweden’s Sarah Sjöström, who claimed gold, and the Netherlands’ Ranomi Kromowidjojo, who secured the silver medal. Osman, one of Egypt’s best-ever swimmers, won the country’s […]
Posted inON YOUR WAY OUT
Egyptian Museum renovation to be complete in 4Q2019
https://enterprise.press/wp-content/uploads/2019/06/Egyptian-museum-1600px.jpg Egyptian Museum renovation to be complete in 4Q2019: The Antiquities Ministry will complete the EGP 12 mn renovations to the Egyptian Museum in downtown sometime in the final quarter of the year, head of the ministry’s projects division Waadallah Abul Ela told the press. The project comes as authorities are set to move some […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.52 | Sell 16.65 EGP / USD at CIB: Buy 16.52 | Sell 16.62 EGP / USD at NBE: Buy 16.54 | Sell 16.64 EGX30 (Thursday): 13,510 (-0.8%) Turnover: EGP 447 mn (27% below the 90-day average) EGX 30 year-to-date: +3.6% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through an agreement with the European Bank for Reconstruction and Development (EBRD). 28 July-02 August (Sunday-Friday): Fab15 Conference and Graduation Ceremony, TU Berlin, El Gouna, Egypt. 29 July (Monday): An administrative court will look into […]
Posted inWhat We're Tracking Today
What we’re tracking on 25 July 2019
We did it, ladies and gentlemen — we survived the full duration of the IMF’s Extended Fund Facility. The fund’s Executive Board approved yesterday the disbursal of our final USD 2 bn tranche of the total USD 12 bn financing package, bringing to an end the three-year arrangement. We have more in this morning’s Speed […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s talking heads were occupied with IMF’s final USD 2 bn disbursal
The IMF’s executive board sign off on the final USD 2 bn tranche of the USD 12 bn facility to Egypt was the topic du jour on the airwaves last night. We have the full story in this morning’s Speed Round, below. Egypt has “largely” achieved the goals of reform, IMF director for the area […]