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Telecom Egypt has reintroduced its voluntary early retirement program, and is targeting enrolling 2,000 of its employees this year, the company said in a bourse disclosure (pdf). Eligible employees who apply for the program can receive one-off and monthly cash payments, as well as three-year medical insurance plans for themselves and their families. The move […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Edita in talks with IFC over USD 35 mn loan
Snack maker Edita Food Industries is currently in talks with the International Finance Corporation (IFC) over a loan of up to USD 35 mn to finance the company’s operations and expansions in Morocco, and refinance part of its debt, Edita said in a bourse filing (pdf).
Posted inOther Business News of Note
USAID launches USD 37 mn farm productivity project
Administrator of the US Agency for International Development (USAID) Mark Green launched on Monday a new USD 37 mn farm productivity project called Feed the Future, PR wire APO Group says. The project aims to increase productivity across Egypt’s agricultural value chain. Green stressed that “helping our partners to improve agricultural productivity is one of […]
Posted inOther Business News of Note
Pioneers Holding seeking to exit some of its subsidiaries, increase stake in others
Pioneers Holding is looking at a partial or complete exit from some of its 60 units, and plans to increase its stakes in some of its other subsidiaries to maximize shareholders’ value, Al Mal reports. The company is currently developing future plans of its subsidiaries. Pioneers is in the process of increasing its stake in […]
Posted inEgypt Politics + Economics
Musicians’ Syndicate has not banned Sherine from performing outside of Egypt
Egyptian singer Sherine has not been banned from performing overseas by the Musicians’ Syndicate, according to a source within the union, Egypt Independent reports. The artist is currently subject to a performance ban in Egypt following public comments she made last week.
Posted inON YOUR WAY OUT
Clean wind energy powers first Egypt-Sudan cruise ship
Saturday evening saw the launch of the first clean energy cruise ship to travel between Egypt and Sudan, MENA news agency reports. Powered by wind energy, the four-level ship departed from Lake Nasser and is due to arrive in Wadi Halfa in northern Sudan tomorrow.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.24 | Sell 17.34 EGP / USD at CIB: Buy 17.22 | Sell 17.32 EGP / USD at NBE: Buy 17.24 | Sell 17.34 EGX30 (Monday): 14,671 (-1.20%) Turnover: EGP 684 mn (27% below the 90-day average) EGX 30 year-to-date: +12.5% THE MARKET ON MONDAY: 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 25 March 2019
Let’s kick off the day with some doom and gloom, shall we? Sentiment is a bit glum this morning as global markets face their first trading day of the week. The expectation is that key economic data due this week from the US and “other wealthy nations” including the UK, France and Canada could “enlighten […]