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Banque du Caire’s financial leasing arm, Cairo Leasing Company, is in “intensive talks” with two unnamed banks to borrow EGP 450 mn, CEO Ahmed Sherif tells Al Mal. According to Sherif, one of the banks is state-owned. Talks are currently in their final stages and the company expects to receive the line of credit “soon.”
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Military Production Ministry signs waste energy MoU with Korea’s Kett Engineering
The Military Production Ministry signed on Thursday a memorandum of understanding with South Korea’s Kett Engineering to build waste energy factories, according to a cabinet statement.
Posted inEgypt Politics + Economics
El Sisi ratifies USD 200 mn EBRD loan to Suez Oil Processing Co.
President Abdel Fattah El Sisi ratified on Thursday a USD 200 mn loan from the European Bank for Reconstruction and Development (EBRD) for the Suez Oil Processing Company (SOPC) to finance the company’s energy efficiency investments, including its Green Economy Transition Approach, Al Mal reports. The approval was published in a presidential decree carried by […]
Posted inEgypt Politics + Economics
Novelist Alaa El Aswany faces legal challenge for “insulting” state
An Egyptian lawyer has filed a lawsuit with the military prosecutor against novelist Alaa El Aswany, accusing him of insulting the president, the army, and the judiciary, Egypt Today reports. The lawsuit cites an article written by El Aswany for Deutsche Welle last week.
Posted inON YOUR WAY OUT
Red Hot Chili Peppers perform at the Pyramids
Red Hot Chili Peppers perform at the Pyramids: The Red Hot Chili Peppers entertained around 10,000 fans at the Giza Pyramids on Friday, playing some of the most recognizable tunes from their long career, Reuters reported. Concert organizer Karim El Chiaty, the vice chairman of Travco Group, said that fans traveled from 67 countries to […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.35 | Sell 17.45 EGP / USD at CIB: Buy 17.35 | Sell 17.45 EGP / USD at NBE: Buy 17.35 | Sell 17.45 EGX30 (Thursday): 14,991 (-0.9%) Turnover: EGP 1.2 bn (27% above the 90-day average) EGX 30 year-to-date: +15.1% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
16-18 March (Saturday-Monday): Automation Technology Expo, Cairo International Convention Center, Nasr City, Cairo, Egypt. 17 March (Sunday): A court will look into a lawsuit by a subsidiary of Arabian Investments, Development and Financial Investment Holding Co. (AIND) against Peugeot Citroen, seeking EUR 150 mn in damages. 17-18 March (Sunday-Monday): OPEC Joint Ministerial Monitoring Committee meeting, […]
Posted inWhat We're Tracking Today
What we’re tracking on 14 March 2019
The news cycle is so slow this morning, it’s as if time stood still, with the nothing much of note happening here at home and the global press still focused on the worldwide grounding of Boeing’s 737 Max 8, Brexit, and a college cheating scandal that has embroiled US business figures and Hollywood actors. Some […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt to set up ministerial committee to cater to foreign investors’ needs
A new cabinet-level committee will be charged with working with investors to resolve their problems, Al Hayah Al Youm’s Khaled Abu Bakr said last night (watch, runtime: 01:45). The committee, constituted by Prime Minister Moustafa Madbouly at cabinet’s weekly meeting yesterday, aims to improve the country’s investment environment, cabinet spokesperson Nader Saad said (watch, runtime: […]