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Saudi’s Al-Romaizan for Gold & Jewellery is planning to set up a EGP 500 mn gold processing factory in Egypt, a company source told the press. The facility will be located in either 6 October or Obour City, will employ between 500-1000 workers in the first three years, and is expected to produce between 5-10 […]
Author Archives: enterpriseam admin
Posted inHealth + Education
AUC, Cairo University, Ain Shams feature in QS World University Rankings 2020
The American University in Cairo (AUC) has once again assumed its ranking of #395 out of the 1k universities ranked in the 2020 annual publication of the Quacquarelli Symonds (QS) World University Rankings. This is up from its ranking of #420 in the 2019 edition, bringing it back to its 2018 position. Cairo University landed […]
Posted inTourism
ODE to open two new Gouna hotels in coming months
Orascom Development Egypt (ODE) will open two new hotels in Red Sea resort town El Gouna in the coming few months, CEO Khaled Bishara said. ODE had signed an EGP 200 mn agreement with Thomas Cook to develop a Gouna hotel and rebrand another in the same town. The agreement will see Orascom Hotels Management […]
Posted inTourism
Egypt’s new admin capital airport launches trial operations
Trial operations at the new administrative capital’s Capital International Airport are scheduled to begin tomorrow, sources from the Civil Aviation Ministry said, according to Masrawy. The ministry has finalized all necessary preparations, and opened the dutyfree shops at the arrivals and departure halls. The new airport, which was built on the old air force base […]
Posted inBanking + Finance
NACC begins talks with major banks for EGP 20 bn financing
The New Administrative Capital Company (NACC) has begun preliminary talks with a number of local banks to secure EGP 20 bn in financing for infrastructure works and various investment plans, sources told Al Mal. The National Bank of Egypt, Banque Misr, the Arab African International Bank, and CIB are all in talks with NACC, the […]
Posted inBanking + Finance
Al Ahly Capital in talks for USD 350 mn loan for Al Canal factory in Minya
Al Ahly Capital has been in talks with international organizations for a USD 350 mn loan to be used for the USD 1 bn Al Canal sugar beet processing factory in Minya, banking sources told Al Shorouk. UAE’s Al Ghurair and Murban signed in December a shareholder agreement with Al Ahly Capital for the factory.
Posted inBanking + Finance
Egypt to launch electronic database for vehicles bought through loans
The CBE signed last month a cooperation agreement with the Interior Ministry and the Egyptian Credit Bureau (I Score) to set up an electronic database for vehicles bought using bank loans, it said in a statement (pdf). The new service will allow people with car loans to easily access information and complete procedures such as […]
Posted inBanking + Finance
Raya’s microfinance arm Aman to start collecting installments online
Raya Holding’s microfinance subsidiary Aman will start accepting installments from its clients online after obtaining Financial Regulatory Authority approval, CEO Ahmed El Khatib said, according to Mubasher. The company will collect payments through Raya’s other subsidiary Aman for E-Payments.
Posted inBanking + Finance
Banque Misr to launch e-wallet with Telecom Egypt
Telecom Egypt (TE) has signed an agreement with Banque Misr to launch an e-wallet enabling clients to transfer and receive cash via a secure mobile app, the company said in a press release (pdf).
Posted inON YOUR WAY OUT
Dahab aims to become a no-plastic zone with new initiative
Dahab has launched an initiative to become a no-plastic zone in a push to protect the environment and safeguard marine life, Egyptian Streets reports. The City Council is running a campaign to raise awareness of the harm caused by plastic waste, and is providing training sessions to hotel workers. Voluntary clean-ups are also taking place, […]