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Ashry Steel is planning to invest EGP 4 bn in new projects over three years, bringing its total investments to EGP 10 bn, Vice President Norhan El Ashry said, according to Al Mal. The company recently broke ground on a EGP 2 bn rebar, sections and steel tubes, and pipes factory in 6 October, which […]
Author Archives: enterpriseam admin
Posted inTourism
Amer Group awarded tender for EGP 3 bn Ras Ghamila development
Amer Group has won a tender to develop the Ras Ghamila diving destination in Sharm El Sheikh with EGP 3 bn in investments, Mervat Hataba, chairperson of the state-owned General Company for Tourism and Hotels (better known as EGOTH), told Youm7.
Posted inTelecoms + ICT
SICO to produce 1.2 mn phones in 2019
Egyptian electronics manufacturer SICO aims to produce 1.2 mn phones this year at its facility in Assiut’s technological park, CEO Mohamed Salem said, according to Al Shorouk. SICO, which produces the first Egyptian-made mobile phone, began producing a tablet in mid-2018. We had reported that SICO was looking to enter joint-manufacturing agreements with several unnamed […]
Posted inBanking + Finance
CBE directs banks to provide facilitated loans to Egypt’s farmer cooperatives
The Central Bank of Egypt (CBE) has instructed commercial banks to begin extending facilitated loans to Egypt’s farmers, according to a note picked up by Al Mal. This came after the CBE granted farmers access who have formed cooperatives or associations aimed at adopting modern farming practices access to its low-interest SME financing initiative. The […]
Posted inEgypt Politics + Economics
Ten detained over calls to protest in Egypt
The State Security Prosecution has ordered the detention of 10 individuals on charges of belonging to an illegal terrorist organization, spreading false news on social media, and calling for illegal protests against the proposed constitutional amendments, reports Al Masry Al Youm. The detainees, who deny all charges, will be held for 15 days pending investigations.
Posted inEgypt Politics + Economics
Rep. El Gohary requests pardon for officers convicted of involuntary manslaughter
House Rep. Salama El Gohary is planning to submit a proposal for parliament to request presidential pardon for nine police officers convicted of involuntary manslaughter, according to Al Mal. El Gohary argues that the situation, in which the officers killed four civilians during a shootout in Tanta, was beyond their control. The Court of Cassation, […]
Posted inON YOUR WAY OUT
Egyptian Football Association reveals the national team’s new kit
The Egyptian Football Association yesterday unveiled the national team’s new Puma kit ahead ofSaturday’s Africa Cup of Nations (AFCON) qualifying match against Niger. The EFA posted an image of the new red home shirt and white away shirt on its Facebook page. The Pharaoh’s will use the kit until 2022, but the EFA did not […]
Posted inON YOUR WAY OUT
We will all be healthier when the machines finally take over
Yes, the machines are coming to enslave humanity — but at least we’ll be healthier: Delving into the findings of cardiologist Eric Topol in his book Deep Medicine, this piece in Vox examines some of the ways in which AI is already improving our health. Ophthalmology? Check. Colonoscopy? Check. Improving the efficiency of doctors? Check. […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.28 | Sell 17.38 EGP / USD at CIB: Buy 17.27 | Sell 17.37 EGP / USD at NBE: Buy 17.28 | Sell 17.38 EGX30 (Monday): 14,911 (-0.82%) Turnover: EGP 983 mn (4% above the 90-day average) EGX 30 year-to-date: +14.38% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
18-19 March (Monday-Tuesday): Coaltrans, Four Seasons Nile Plaza, Garden City, Cairo, Egypt. 19-20 March (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate. 19 March (Tuesday): Portfolio Egypt Conference for non-banking financial services, venue TBD, Cairo, Egypt. 20 March (Wednesday): Trade Ministry opens trade show of products […]