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Prime Minister Moustafa Madbouly has ordered that a committee be formed to create a plan for the Golden Triangle development project using the studies prepared by Italian consulting firm D’Appolonia, the cabinet said in a statement. New 220 KV power lines will be installed at the end of the year to serve the whole area, […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Madbouly inaugurates first phase of EGP 230 mn Roxy garage in Heliopolis
Prime Minister Moustafa Madbouly inaugurated on Sunday the first phase of the EGP 230 mn Roxy Garage, the Middle East’s first public garage with a hydraulic parking system, the cabinet said in a statement. The first phase can take up to 900 cars while the second phase is expected to be completed by the end […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.55 | Sell 16.68 EGP / USD at CIB: Buy 16.56 | Sell 16.66 EGP / USD at NBE: Buy 16.56 | Sell 16.66 EGX30 (Sunday): 13,576 (-0.7%) Turnover: EGP 258 mn (59% below the 90-day average) EGX 30 year-to-date: +4.2% THE MARKET ON SUNDAY: 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). 23 July (Tuesday): 23 July revolution anniversary, national holiday. 25 July (Thursday): US Secretary of Energy visiting Cairo. 28 July-02 August (Sunday-Friday): Fab15 […]
Posted inWhat We're Tracking Today
What we’re tracking on 21 July 2019
We hate to open on a down note, but today’s news cycle will likely be dominated by British Airways and Lufthansa’s suspension of flights to Cairo due to what they described as “security concerns.” British Airways, whose lead was followed by the German airline, has so far remained tight-lipped on the nature of these concerns. […]
Posted inEnterprise+: Last Night’s Talk Shows
Nothing is new with Schengen visa regulations; a minor is facing prison time for stabbing her would-be assaulter
The airwaves didn’t offer us any significant business-related stories last night, but the talking heads had plenty to keep them busy throughout the evening. Are Schengen countries getting stricter about which country issues our visas? Not really: Everyone is required to get their Schengen visa from the country they plan to enter first, Foreign Ministry […]
Posted inSpeed Round
British Airways, Lufthansa abruptly suspend flights to Egypt’s capital
British Airways, Lufthansa abruptly suspend flights to Cairo, citing “security concerns”: British Airways decided yesterday to suspend for seven days its flights to Cairo “as a precaution to allow for further assessment” of security arrangements, the airline said in a statement, according to Reuters. Three sources from Egypt’s airport security told the newswire that “British […]
Posted inSpeed Round
Gov’t unveils new EGP 6 bn per year export subsidy framework
Gov’t unveils new EGP 6 bn per year export subsidy framework: The government unveiled the details of the long-awaited new framework for disbursing export subsidies. The new framework would disburse EGP 6 bn per year in export subsidies through the Export Subsidies Fund starting from FY2019-20, according to a statement by the fund released on […]
Posted inSpeed Round
Egyptian developer Misr Italia to complete procedures to list 25% on EGX in six months
IPO WATCH- Misr Italia to complete procedures to list 25% on EGX in six months: Property developer Misr Italia is once again considering an initial public offering of up to 25% of its shares on the EGX, and is expecting to finalize all necessary procedures within six months, Chairman Hany El Assal told Al Mal […]