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Heliopolis Company for Housing and Development has postponed an auction to sell a land plot in Sheraton, Heliopolis in light of recent government amendments to the building regulations, the company said in a press release (pdf). The amendments include allowing the company to build up to six floors, build two basements instead of one, and […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Egyptian real estate player El Attal to reportedly invest USD 600 mn in Dubai residential project
Egypt-based real estate developer El Attal Holding is reportedly planning to launch a residential project in Dubai at a cost of USD 600 mn, Chairman Ahmed El Attal said, according to Hapi Journal. El Attal provided no further details, saying they will be made public soon. The company launched earlier this year its three-phase EGP […]
Posted inTourism
Russian security team begins safety inspections at Hurghada and Sharm airports
A team of Russian security experts have begun safety inspections at Hurghada and Sharm El Sheikh airports, a spokesman for the Russian Federal Air Transport Agency told Sputnik. President Abdel Fattah El Sisi discussed resuming direct Russian flights to Red Sea destinations with Russia’s Foreign Minister Sergey Lavrov during his visit earlier this month. The […]
Posted inOther Business News of Note
SODIC shareholders approve EGP 0.5/share 2018 dividend payout
SODIC shareholders approved the board’s recommendation to proceed with a dividend payment of EGP 0.5 per share 2018, the company said in a bourse filing (pdf).
Posted inEgypt Politics + Economics
Egyptian receives death sentence for 2013 Milan killing
An Egyptian man was sentenced to death yesterday for killing an Italian shop owner in Milan in 2013, Ahram Online reports. The man claimed that he had been assaulted by the shop owner, who was his employer. The man will be able to appeal his sentence before the Court of Cassation.
Posted inNational Security
Egypt, Cyprus, Greece hold joint military drills
Egypt, Greece and Cyprus began yesterday a multi-day joint naval and air force exercise off Egypt’s Mediterranean coast, according to an armed forces statement. The Medusa 8 drill includes the Egyptian Navy helicopter carrier ENS Anwar El-Sadat, a Type 209 submarine, and several F-16 jets.
Posted inSports
Egypt to host PSA World Tour Finals on 8-13 June
Egypt will for the first time hold the PSA World Tour Finals at the Wadi Degla club on 8-13 June, PSA World Tour has announced. The finals will close out the 2018/19 season and will feature the world’s top eight male and female players. Egyptian world no.1’s Raneem El Welily and Ali Farag were crowned […]
Posted inON YOUR WAY OUT
Egypt targets 80% garbage recycling rate over the next seven years
The Environment Ministry is looking to recycle 80% of municipal solid waste within seven years, minister Yasmine Fouad told House Reps, according to Al Ahram Al Zeraee. The rate today: No more than 20%, Fouad added, saying the country needs to focus on improving waste infrastructure and cracking down on informal landfill sites. The ministry […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.27 | Sell 17.37 EGP / USD at CIB: Buy 17.26 | Sell 17.36 EGP / USD at NBE: Buy 17.25 | Sell 17.35 EGX30 (Monday): 15,055 (-0.1%) Turnover: EGP 581 mn (34% below the 90-day average) EGX 30 year-to-date: +15.5% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
April: Russian companies will receive the first 1 square-km plot in the 5.2 square-km Russian Industrial Zone within the Suez Canal Economic Zone April: The EUR 250k first phase of Egypt’s national waste management program will kick off. 15- 16 April (Monday-Tuesday): Atom Expo 2019, Main Media Center, Sochi, Russia. 16 April (Tuesday): The House […]