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Tabarak Holding is planning to invest EGP 1 bn this year in two projects in New Sphinx with a total area of 859 feddans, the local press reported. The two projects are planned to be mixed-use and residential.
Author Archives: enterpriseam admin
Posted inTourism
Egypt, Bulgaria to sign tourism cooperation MoU during Bulgaria forum
Egypt and Bulgaria are set to sign an MoU to boost cooperation in cultural, heritage, and coastal tourism during the two-day Investing in Tourism Sustainability Conference, according to Youm7. Tourism Minister Rania Al Mashat flew to Bulgaria to attend the conference, which will kick off later today.
Posted inTourism
Aqaba-Egypt direct flights to start June 3, EgyptAir to resume Abidjan flights
Direct flights will be launched between Jordan’s Aqaba and Cairo and Sharm El Sheikh starting 3 June, the local press reports. Meanwhile, national flag carrier EgyptAir will resume direct flights to Abidjan, Côte d’Ivoire starting 20 June, with two flights per week, Ahram Online cited CEO Ahmed Adel as saying. The decision comes in light […]
Posted inTelecoms + ICT
Egypt and China to cooperate in AI field
The CIT Ministry met with a Chinese delegation this week for talks on cooperating in developing Egypt’s AI sector, according to a ministry statement. Egypt is seeking assistance in organizing graduate IT trainings, among other things.
Posted inTelecoms + ICT
Telecom Egypt to launch online TV, mobile wallet services
State-owned Telecom Egypt’s mobile network operator WE is launching an online TV streaming service and mobile wallet within weeks, CEO Adel Hamed told Youm7. WE Mobile Wallet will be set up in collaboration with Banque Misr amid efforts to support financial inclusion and digitalization, Hamed says.
Posted inBanking + Finance
Univert obtains EGX committee approval to begin delisting
Univert Food Industries has obtained approval from the EGX listing committee to begin procedures to voluntarily delist its shares, according to a release. The company will take itself private once it purchases shares of affected shareholders at a fair value and obtains final approval from the committee. The company’s majority shareholder, Mohammed Ahmad Basamh, was […]
Posted inBanking + Finance
Qalaa Holdings completes final funding round for ERC
Qalaa Holdings has completed the final USD 120 mn funding round for its Egyptian Refining Company (ERC), including a capital increase of USD 70 mn and loans at a combined total of USD 50 mn, Al Mal reported. The funding will be used to restructure its debts, Chairman Ahmed Heikal said. The project, which has […]
Posted inSports
CAF sets up special committee for Africa Cup security
!_StoryTags_ CAF, Africa Cup of Nations, security A special committee has been established to manage security concerns at the Africa Cup of Nations in Egypt, which is set to kick off next month, CAF President Ahmad Ahmad said, according to Reuters. The concerns come after an explosion near the Grand Egyptian Museum injured at least […]
Posted inMy Morning Routine
My Morning Routine: Mohamed El Taher, CEO of Al Ismaelia for Real Estate Development
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 Mohamed El Taher, CEO of Al Ismaelia for Real Estate Development, the first real estate company in Egypt […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.76 | Sell 16.88 EGP / USD at CIB: Buy 16.76 | Sell 16.86 EGP / USD at NBE: Buy 16.80 | Sell 16.90 EGX30 (Wednesday): 13,974 (-0.4%) Turnover: EGP 637 mn (19% below the 90-day average) EGX 30 year-to-date: +7.2% THE MARKET ON WEDNESDAY: The EGX30 ended […]