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Novavera Sport will open its first football factory in the region, producing its first batch of FIFA-certified footballs before the start of the next season, according to the local press. The factory is set to open in early July in the 6 October industrial zone. It will have a production capacity of 1 mn balls […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Heliopolis Housing sells eight Sheraton plots for EGP 66.8 mn
Heliopolis Housing has sold eight plots of land in Sheraton for a total value of EGP 66.8 mn, the company said in an EGX disclosure (pdf) without specifying a timeframe. The Public Enterprises Ministry and the Holding Company for Construction and Development decided last week to hand the company’s management to a private investor.
Posted inReal Estate + Housing
NACCUD completes 70% of new capital infrastructure
The New Administrative Capital Company for Urban Development (NACCUD) has completed 70% of the infrastructure work for the new capital and is expected to finish the job within the coming year, NACCUD boss Ahmed Zaki Abdeen said, according to Al Mal. The next year will also see the completion of housing compounds as well as […]
Posted inReal Estate + Housing
Egypt’s real estate exports at USD 500 mn from total of USD 70 bn in MENA
Egypt’s real estate exports are valued at only USD 500 mn from a total of USD 70 bn in the region, Prime Minister Moustafa Madbouly said yesterday on the sidelines of the opening of the Benaa Misr forum, according to Youm7. “The figure is smaller than modest considering Egypt’s capabilities and advantages,” Madoubly was quoted […]
Posted inTelecoms + ICT
Telecom Egypt to expand in data centers in the coming two years
Government-owned carrier Telecom Egypt (TE) is planning to build four to five data centers in the coming two years in the new administrative capital, Alexandria, Smart Village and Suez, a company official told Masrawy. The company is also upgrading its existing data centers and is expecting to host Nokia’s Internet Of Things platform by the […]
Posted inBanking + Finance
Banque Misr to provide letters of guarantee worth USD 162 mn for Orascom Construction and Arab Contractors
Banque Misr is set to provide letters of guarantee worth USD 162 mn for Orascom Construction and Arab Contractors for the water treatment plant project in Bahr Al Baqar, banking officials told Al Shorouk. The letters will be provided over two tranches with the first one worth 20% of the USD 739 mn estimated cost […]
Posted inOther Business News of Note
Military production ministry has EGP 15 bn construction backlog
The Military Production Ministry owns 20 companies and 17 factories involved in contracting and engineering consultation and has a backlog of projects worth as much as EGP 15 bn, all of it work on national projects, Minister Mohamed El Assar said, according to Youm7. The ministry, which hopes to expand regionally and internationally, is working […]
Posted inSports
Egypt beat Guinea 3-1 in final Afcon warm-up game
Egypt ended their Afcon preparations on a high note last night, beating Guinea 3-1 at the Borg El Arab Stadium in Cairo, Ahram Online reports. Egypt’s Marwan Mohsen scored the opener after 11 minutes, and they held the lead until the 63rd minute when Sory Kaba pulled a goal back for the visitors. But the […]
Posted inON YOUR WAY OUT
The Egyptian Museum is getting a facelift
The Egyptian Museum is getting a facelift: The Egyptian Museum will be revamped as authorities prepare to move some of the country’s most treasured antiquities to the Grand Egyptian Museum in Giza, due to open by the end of next year. The EUR 3.1 mn project will see several galleries relocated to near the museum’s […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.68 | Sell 16.80 EGP / USD at CIB: Buy 16.67 | Sell 16.77 EGP / USD at NBE: Buy 16.71 | Sell 16.81 EGX30 (Sunday): 14,210 (+0.2%) Turnover: EGP 487 mn (37% below the 90-day average) EGX 30 year-to-date: +9.0% THE MARKET ON SUNDAY: The EGX30 ended […]