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Planned lawsuit against Christie’s continues to top coverage: On an otherwise calm morning for Egypt in the foreign press, the government’s plan to take legal action against London’s Christie Auction House is still leading the conversation on Egypt in the foreign press this morning, with Japan’s state broadcaster NHK the latest to take note. Another […]
Author Archives: enterpriseam admin
Posted inON THE FRONT PAGES
El Sisi’s meeting with the finance, electricity ministers tops front pages
President Abdel Fattah El Sisi’s meeting with the electricity and finance ministers to discuss improving electricity services sits at the top of state-owned Al Akhbar’s front page. Ittihadiya was out with a statement following the meeting.
Posted inDiplomacy + Foreign Trade
Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt
Saudi Arabia signs EGP 125 mn-worth agreements to support SMEs in Egypt: The Saudi Arabia Development Fund signed three agreements worth EGP 125 mn to provide funding to SMEs through local microfinance firms EFG Hermes Leasing, Global Lease and UI Finance, the Investment Ministry said in a statement. The first agreement entails granting EGP 75 […]
Posted inReal Estate + Housing
Demand for Cairo office space increases in 1H2019
Demand for office space in Cairo increased in 1H2019 on the back of improving economic conditions, real estate services provider Savills has said in a new report (pdf). The research, which analyzes the office market in the Greater Cairo area, found that Grade A developments in New Cairo and Sheikh Zayed have attracted the most […]
Posted inAutomotive + Transportation
Egypt offers discounts up to 45% on vessels passing through Suez Canal
Cargo carriers traveling through the Suez Canal and docking at an Egyptian port will be granted discounts of up to 45% on navigation aid and lighthouse fees, according to a Transport Ministry statement. The Suez Canal Authority has regularly been offering discounts to vessels passing through the canal in a bid to attract more traffic.
Posted inOther Business News of Note
Madbouly, El Molla holds talk with Bechtel chairman on Egypt cooperation
Prime Minister Moustafa Madbouly and Oil Minister Tarek El Molla held talks yesterday with the chairman of Virginia-based construction outfit Bechtel Corporation, Brendan Bechtel, according to a Cabinet statement. The company is looking to increase its investments in Egypt, Bechtel told Madbouly, who pointed to seawater desalination projects as a potential area of cooperation.
Posted inMy Morning Routine
My Morning Routine: Haitham Mohamed, chief executive officer at ORA Developers
Haitham Mohamed, chief executive officer at ORA Developers: My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Haitham Mohamed (LinkedIn), chief executive officer at ORA Developers, which […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.55 | Sell 16.67 EGP / USD at CIB: Buy 16.55 | Sell 16.65 EGP / USD at NBE: Buy 16.57 | Sell 16.67 EGX30 (Wednesday): 14,013 (-0.6%) Turnover: EGP 537 mn (20% below the 90-day average) EGX 30 year-to-date: +7.5% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
July: Customs officials from Egypt and the US will sit down to discuss “procedural and administrative matters” as part of the Trade and Investment Framework Agreements (TIFA). 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 10 July 2019
It’s interest rate day tomorrow: There was a consensus among the nine economists we spoke to this week that the central bank will leave rates unchanged when its Monetary Policy Committee meets tomorrow. All agreed that the bank would wait until at least September before cutting rates due to the inflationary effects of last week’s […]