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The Holding Company for Tourism and Hotels (HOTAC) will inaugurate a hotel it is developing in Dahab at the beginning of 2020, CEO Amr Attia told the local press. HOTAC is investing EGP 150 mn in the hotel, Attia said, without disclosing further details on the new establishment.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
NATCO will accept a wider range of payments for Mercedes after ECA complaints
Local Mercedes agent National Automotive Company (NATCO) will now accept a wider range of payment terms for its vehicles, the Egyptian Competition Authority said in a statement (pdf). The competition watchdog said it had received complaints that NATCO was restricting Mercedes customers to installment payment plans through a single intermediary.
Posted inAutomotive + Transportation
United Brothers Group submits proposal for smart cabs
United Brothers Group, owner of the Professional Taxi ride-hailing service, has submitted a proposal to the Transport Ministry to allow white taxis to be hailed through the Professional Taxi mobile application, reports the local press. The Ride-Hailing Apps Act, which was passed last year, required ride-hailing companies to prepare a strategy to incorporate white taxis […]
Posted inBanking + Finance
EBRD, EU extend EUR 7.3 mn financing package to Farm Fresh
The European Bank for Reconstruction & Development (EBRD) and the EU have extended a EUR 7.3 mn financing package to frozen vegetables exporter Farm Fresh to build a new factory in Alexandria, the EBRD said in a statement. The bank will provide a EUR 2.1 mn loan and Ahli Bank of Kuwait will lend EUR […]
Posted inEgypt Politics + Economics
Habib El Adly convicted of unintentional “abuse of public funds,” fined EGP 500
Ex-interior minister Habib El Adly was convicted on Thursday of charges of unintentional “abuse of public funds” and fined EGP 500 (USD 29) by an Egyptian court, Reuters reports. The size of the fine has generated some controversy, especially as the former head of the ministry’s Central Administration of Finances and Budget Nabil Khalaf received […]
Posted inEgypt Politics + Economics
Egypt proposes international conference on immigration management
Immigration Minister Nabila Makram discussed potentially organizing an international conference on immigration management with a visiting delegation from the World Bank, according to a ministry statement. The two sides also discussed efforts to curb illegal migration.
Posted inEgypt Politics + Economics
Egypt’s churches to sign unified personal status law after Ramadan
Egypt’s three major churches are preparing to sign off on a final draft law regarding personal status for Christians in a month’s time, reports Al Masry Al Youm. The law is intended to handle matters of marriage, divorce, and separation across all sects of Christianity.
Posted inON YOUR WAY OUT
Egyptian freelance visual journalist wins Thomson Foundation’s ‘mojo’ competition
Egyptian freelance visual journalist Mostafa Darwish has won this year’s Thomson Foundation mobile journalism competition, held in partnership with Mojofest, which celebrates journalists who tell stories through the medium of the smartphone, the organization reports on its website. Darwish used an iPhone 5s and the iMovie mobile video app to tell the story of significant […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.08 | Sell 17.18 EGP / USD at CIB: Buy 17.06 | Sell 17.16 EGP / USD at NBE: Buy 17.07 | Sell 17.17 EGX30 (Thursday): 14,060 (+0.2%) Turnover: EGP 447 mn (46% below the 90-day average) EGX 30 year-to-date: +7.9% THE MARKET ON Thursday: The EGX30 ended […]