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Prime Minister Moustafa Madbouly has called on the government to speed up industrial land allocation to investors, and to offer “as many industrial land plots as possible,” according to a cabinet statement. Madbouly also stressed finalizing ongoing land allocation procedures and completing a map of designated industrial zones as priorities. This is part of a […]
Author Archives: enterpriseam admin
Posted inTourism
Campbell Gray Hotels plans new resort in El Gouna
Campbell Gray Hotels has announced plans to create a 160-key boutique resort in El Gouna, Trade Arabia reports. The company has partnered with developer Mangroovy Residence El Gouna and consultancy firms Ghoneimi Architects and Evolve BDS to work on the project. Construction is expected to begin later this year.
Posted inAutomotive + Transportation
Egypt studying proposal from Chinese company to build Sharm monorail
An unnamed Chinese company has expressed its interest in building a monorail line in Sharm El Sheikh, the South Sinai Governor’s office said earlier this week, according to Egypt Today. A committee has been set up to study the potential project. No further information was provided.
Posted inAutomotive + Transportation
El Wazir, World Bank talk railway cargo transport
Transport Minister Kamel El Wazir met yesterday with a delegation from the World Bank to discuss developing the country’s railways to encourage more cargo transport via rail, and agreed to conduct feasibility studies on developing the Alexandria-6 October cargo line, according to a ministry statement.
Posted inBanking + Finance
QNB Alahli in talks with EBRD for USD 70 mn loan
QNB Alahli is in talks with the European Bank for Reconstruction and Development (EBRD) over a USD 70 mn loan, the local press reports. The loan will be used to finance renewable energy projects, SMEs and value chains.
Posted inBanking + Finance
FRA approves Marseilia Group’s EGP 12 mn capital increase
The Financial Regulatory Authority (FRA) has approved the EGP 12 mn capital increase of real estate company Marseilia Group, according to an EGX disclosure (pdf). The company will raise its capital to EGP 72 mn by issuing 1-for-5 shares. The increase will be financed by retained earnings and profits from FY2018.
Posted inBanking + Finance
TE to roll out money transfer service through WE in partnership with Banque Misr
Telecom Egypt has signed an agreement with Banque Misr to launch a new money transfer service through the state-owned fixed-line monopoly's We network, CEO Adel Hamed said, according to Al Mal. The launch is part of a number of other services TE is planning to roll out in the coming weeks, including an internet protocol […]
Posted inEgypt Politics + Economics
Prosecutor General orders release of seven detainees
Prosecutor General Nabil Sadek decided yesterday to release seven defendants who had been charged with joining an illegal organization, compromising peace and national security, and publishing false news, Reuters reports. The decision included former ambassador Maasoum Marzouk as well as Abdel Fattah Al Banna, Raed Salama, Yehia Al Qazaz and activist Nermine Hussein. The case […]
Posted inON YOUR WAY OUT
AFCON 2019 mascot unveiled
The African Cup of Nations’ organizing committee has unveiled an incredibly original official mascot for the championship kicking off next month. Meet Tut: A cross between Mohamed Salah, Dora the Explorer, and a generic pharaoh. The tournament will run from 21 June to 19 July and tickets are available on the Tazkarti platform.
Posted inON YOUR WAY OUT
Egyptian films screened in Cannes, Brooklyn
Egyptian short film Fakh (Trap) was screened at the Cannes International Film Festival’s Critics Week, the local press reported. Directed by Nada Riyadh, the film follows the story of a couple whose relationship is ending amid difficult circumstances. Fakh is Riyadh’s second short film. Also making the rounds: Anas Tolba’s Between Two Seas, which will […]