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Including newborns into the commodity subsidies system could see the government spending EGP 91 bn in FY2019-2020, a government source told Al Mal. The FY2019-2020 state budget had allocated EGP 89 bn for commodity subsidies. Supply Minister Ali El Moselhy had delayed registering newborns to September from June, likely as the ministry has yet to […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Misr Holding in talks with state-run banks for coverage to exporters
Misr Insurance Holding Company (MIHC) is in talks with two state-run banks to cooperate with them to provide insurance coverage for exporters targeting African markets, Chairman and Managing Director Basel El Hini told Amwal Al Ghad. The move comes as a number of countries require insurance and many countries are also not granting Egyptian exporters […]
Posted inNational Security
20 Daesh terrorists killed in retaliatory gov’t airstrikes in North Sinai
At least 20 Daesh terrorists were killed over the weekend as the government launched retaliatory airstrikes in North Sinai province following a suicide bombing on Thursday, AP reports. Daesh claimed responsibility for the death of two people in the bombing in North Sinai, security and medical sources told Reuters on Thursday. This happened one day […]
Posted inSports
UK’s Aston Villa to buy Trezeguet for GBP 8.75 mn
Premier League football club Aston Villa seems to have edged out a number of European clubs in a bidding war to buy Egyptian winger Mahmoud Trezeguet in a GBP 8.75 mn agreement with Turkish sporting club Kasimpasa, where he plays now, KingFut reports. Trezeguet has been with the Turkish team for two seasons.
Posted inON YOUR WAY OUT
Egypt’s Marsa Alam to soon become a no-plastic zone
Marsa Alam will soon become a no-plastic zone as Red Sea Governor Ahmed Abdullah is extending his policy of banning single-use plastics across the governorate, Abdullah recently said, according to Egyptian Streets. A ban on plastic came into force in Hurghada last month. The city’s officials have since been seeking to provide alternatives to help […]
Posted inON YOUR WAY OUT
Egypt’s universities will mandate marital education as a prerequisite to graduation
University students will have to complete a course to educate them on marital life as a prerequisite to graduation starting the coming academic year, reports Ahram Online. The course will provide tips on choosing partners and handling conflict. Its introduction is meant to curb Egypt’s rising divorce rate.
Posted inON YOUR WAY OUT
Residential settlement with multicolored mosaic floor discovered in Kom El-Dikka
The remains of an enormous residential settlement, including a well-preserved multicolored mosaic floor, were recently uncovered at Alexandria’s Kom El-Dikka archaeological site by an Egyptian-Polish archaeological mission, Egypt Today reports. The settlement reportedly dates back to between the 4th and 7th centuries AD, and also contains a small theater, a grand royal bath and a […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.55 | Sell 16.67 EGP / USD at CIB: Buy 16.56 | Sell 16.66 EGP / USD at NBE: Buy 16.56 | Sell 16.66 EGX30 (Thursday): 13,670 (+0.2%) Turnover: EGP 492 mn (23% below the 90-day average) EGX 30 year-to-date: +4.9% 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). 19-21 July (Friday-Sunday): LED Middle East Expo, Egypt International Exhibition Center, Nasr City, Cairo. 21 July (Sunday): Amer Group and Antaradous Touristic Development […]
Posted inWhat We're Tracking Today
What we’re tracking on 18 July 2019
Could we finally get our hands on the final IMF loan tranche next week? The IMF’s executive board will make its final decision over the fifth and final review of the USD 12 bn economic reform program on 24 July, potentially paving the way for disbursement at the tail-end of next week. The Finance Ministry […]