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The Agriculture Ministry and Gogreen for Agricultural Investment and Development are studying a livestock project that would produce 50k head of cattle in five years in Al Moghra in the Western Desert, Amwal Al Ghad reports.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
ITDA, Carrefour sign agreement to set up four distribution centers in Egypt
The Supply Ministry’s Internal Trade Development Authority (ITDA) and Majid Al Futtaim Retail have signed an agreement to set up four logistics and distribution centers at undisclosed locations, company COO Herve Majidier said, according to Al Mal. His company signed a cooperation protocol with an arm of Elsewedy Electric) to begin construction work on the […]
Posted inTourism
EgyptAir, Flynas ink interline traffic agreement
EgyptAir has inked an interline traffic agreement with Saudi budget carrier Flynas to offer passengers a wider range of travel destinations, Flynas said in a statement. EgyptAir customers will now be able to travel to a number of destinations in Saudi Arabia, while Flynas passengers can now fly to a host of new cities in […]
Posted inBanking + Finance
NBG agrees to issue EUR 41.7 mn loan for Elsewedy Electric
The National Bank of Greece has agreed to issue a EUR 41.7 mn loan for Elsewedy Electric, it said in a press release. The long-term facility will be used to partially finance Elsewedy’s acquisition of four Greek renewable energy companies.
Posted inOther Business News of Note
Environ Adapt, Ministry of Environment sign protocol to make Dawar official waste management system for seven governorates
Environ Adapt has signed a protocol with the Environment Ministry that will make its Dawar mobile application the official waste monitoring and management system for seven governorates, it announced in a statement (pdf). Dawar uses GPS technology to enable local residents to send photos of street waste to authorized collection companies, each with a location […]
Posted inEgypt Politics + Economics
Egypt’s customs exchange rate remains unchanged
The Finance Ministry has left the discounted customs exchange rate for essential imports unchanged at EGP 16 for July, Masrawy reported. The ministry set the rate for non-essential imports at EGP 16.77.
Posted inEgypt Politics + Economics
Egypt aims to pay employees electronically through new state-backed debit card
Around 4.5 mn civil servants could receive their salaries through the state-backed “Meeza” debit cards starting August, Finance Ministry spokesman Mohamed Ibrahim said, according to Al Shorouk. Around 270k citizens have already been issued Meeza cards while the ministry has distributed some 18k PoS machines to government entities. The government had made it mandatory for […]
Posted inON YOUR WAY OUT
Actor Ezzat Abou Aouf dies; tributes pour in from fans and peers alike
Actor Ezzat Abou Aouf died on Monday morning, aged 71, after undergoing several years of treatment for heart and liver problems, Al Masry Al Youm reports. He was a prolific performer, appearing in 100 film, TV, and theater productions throughout his career, as well as developing soundtracks and serving as the director for the Cairo […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.65 | Sell 16.75 EGP / USD at CIB: Buy 16.64 | Sell 16.74 EGP / USD at NBE: Buy 16.65 | Sell 16.75 WTI: USD 58.86 (-0.39%) Brent: USD 65.06 (+0.49%) Natural Gas (Nymex, futures prices) USD 2.27 MMBtu, (-0.09%, Aug 2019 contract) Gold: USD 1,390.90 / […]
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 […]