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Fixed land-line monopoly Telecom Egypt (TE) is planning to launch Internet Protocol Television (IPTV) services in a “few days,” CEO Adel Hamed said, according to Al Shorouk. The company is planning to transform into a “gateway for internet services” connecting Asia, Africa and Europe, Hamed said.
Author Archives: enterpriseam admin
Posted inBanking + Finance
Kharafi National signs EGP 750 mn syndicated loan with four Egyptian banks
Pan-Arabian infrastructure contractor Kharafi National has signed a syndicated loan agreement with four local banks led by SAIB Bank to arrange a EGP 750 mn facility, the bank said, according to a local press report. The consortium also includes the Export Development Bank Of Egypt, the Industrial Development Bank, and Al Baraka. The loan’s proceeds […]
Posted inOther Business News of Note
CBE to set up by year end risk assurance company for Africa-bound exports
The Central Bank of Egypt (CBE) is planning to set up by the end of December a risk assurance company to protect exporters doing business in Africa, a CBE official told the local press. The CBE is currently finalizing the company’s organizational and shareholder structure, for which the African Export-Import Bank has offered recommendations. The […]
Posted inLaw
Maatouk Bassiouny legal counsel to ADNOC in OCI NV fertilizer business merger
Matouk Bassiouny is acting as local counsel to Abu Dhabi National Oil Company (ADNOC) in the merger of ADNOC fertilizers business into OCI NV’s nitrogen fertilizers production platform in the Middle East and North Africa, the law firm said in a statement (pdf). OCI NV, meanwhile, hired Cleary Gottlieb Steen & Hamilton LLP.
Posted inSports
Egypt plans to bid for hosting UEFA, Spanish, Italian super cups -EFA boss
Egypt is planning to bid for hosting the UEFA, Spanish, and Italian super cups, Egyptian Football Association (EFA) boss Hany Abo Rida said. ُEgypt’s hosting of the African Cup of Nations has been so far successful and by 2030 “we will be able to host the World Cup,” Abo Rida said.
Posted inSports
Egyptian footballer Trezeguet could crack into the Premier League soon
Premier League football clubs Aston Villa and Watford are both showing interest in Egyptian national team player Mahmoud Trezeguet. According to the Watford Observer, Watford FC has already placed a GBP 10 mn bid on the Egyptian striker, who currently plays for Turkish club Kasımpaşa. Aston Villa’s player scouts are also reportedly impressed by his […]
Posted inON YOUR WAY OUT
Methanex Egypt receives award for contributions to MSME culture in Damietta
Methanex Egypt has received the International Council for Small Business (ICSB) Humane Entrepreneurship Award for contributions to micro, small and medium-sized enterprises (MSME) culture in Damietta, the company said in a press release (pdf). Methanex Egypt operates a methanol production plant in Damietta, and in February it signed a two-year partnership with the ILO to […]
Posted inON YOUR WAY OUT
Egypt’s Yousra, Mohamed Hefzy, Amr Salama join Motion Picture Academy
Three Egyptians earn Motion Picture Academy memberships: Veteran Egyptian actor Yousra, director Mohamed Hefzy, and producer Amr Salama were invited to join the roster of the Academy of Motion Picture Arts and Sciences (aka the Academy). The honorary organization is responsible for voting for the Oscar winners. The four Egyptians were selected as part of […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.56 | Sell 16.69 EGP / USD at CIB: Buy 16.57 | Sell 16.67 EGP / USD at NBE: Buy 16.60 | Sell 16.70 EGX30 (Tuesday): 14,137 (+0.3%) Turnover: EGP 795 mn (13% above the 90-day average) EGX 30 year-to-date: +8.4% THE MARKET ON TUESDAY: 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 […]