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Capital Group Properties (CPG) is in talks with the New Urban Communities Authority (NUCA) to purchase 500 feddans in Sheikh Zayed for a “residential touristic project,” Chief Projects Officer Amgad Hassanein told the local press. The project could be developed under a private-public partnership agreement, Hassanein said. This comes as NUCA plans to tender land […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Vodafone Egypt request additional data frequency bands from NTRA
Vodafone Egypt has sent a request to the National Telecom Regulatory Authority (NTRA) to make additional frequencies available to cope with the growing number of mobile data users, Director of Legal and External Affairs at Vodafone Ayman Essam said.
Posted inBanking + Finance
CIB, AAIB to arrange EGP 1.7 bn for Wadi Degla Holdings
Wadi Degla Holdings has reached an agreement with CIB and the Arab African International Bank to arrange a EGP 1.7 bn loan to finance Wadi Degla’s Neopolis residential project in New Cairo’s Mostakbal City, CEO Maged Helmy told the domestic press. Correction: 29 March, 2019 An earlier version of this article incorrectly said the value […]
Posted inOther Business News of Note
Global Telecom unable to pay EGP 5 bn in due taxes amid company losses
Global Telecom Holding (GTH)’s general assembly yesterday voted to continue operations despite losses that have surpassed 50% of shareholders’ total equity as the company recorded losses of USD 64.7 mn last year. Earlier this week GTH’s board of directors approved a three-month extension on the maturity of a USD 100 mn revolving credit facility from […]
Posted inMy Morning Routine
Karim Nour, CEO, Tarek Nour Communications
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 because we simply can’t help ourselves. Extracts from our conversation this week with Karim Nour, CEO of Tarek Nour Communications and our friend and partner here at […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.26 | Sell 17.36 EGP / USD at CIB: Buy 17.28 | Sell 17.38 EGP / USD at NBE: Buy 17.26 | Sell 17.36 EGX30 (Wednesday): 14,555 (-0.6%) Turnover: EGP 747 mn (19% below the 90-day average) EGX 30 year-to-date: +11.7% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
28 March (Thursday): Central Bank of Egypt’s monetary policy committee will meet to review interest rates. 28-30 March (Thursday-Saturday): International Conference on Advanced Machine Learning Technologies and Applications, Venue TBD, Cairo, Egypt. 30 March (Saturday): Traders Fair, Nile Ritz Carlton, Garden City, Cairo, Egypt. 30-31 March (Saturday-Sunday): International Conference on Architecture Engineering and Technologies, Grand […]
Posted inWhat We're Tracking Today
What we’re tracking on 27 March 2019
Tomorrow is interest rate day, and we think it safe to now say the consensus is for a rate cut. Here’s our logic: Adding new predictions from leading research houses to our poll of analysts, we now count seven of 11 houses as calling a rate cut of up to 100 bps (one percentage point). […]
Posted inEnterprise+: Last Night’s Talk Shows
Uber and subsidies keep talking heads busy on a quiet night
Uber’s acquisition of regional rival Careem was (unsurprisingly) all over the airwaves last night. Our friend Khaled Ismail, chairman of HIMAngel, the high-profile angel investment fund, told Hona Al Asema the transaction has its benefits, but may hurt competitiveness in the domestic market (watch, runtime: 07:47). We have everything you need to know about the […]