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The government is in talks with international lenders to finance studies to link Argeen on the Egypt-Sudan border to Khartoum as part of a proposed Cairo-Cape Town highway project, sources said. The African Export–Import Bank, the European Bank for Reconstruction and Development and the International Finance Corporation have been approached by the government for the […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt uses USD 213 mn from ITFC to buy wheat
The Supply Ministry secured USD 213 mn in funding from the Islamic Trade Finance Corporation (ITFC) to buy 1.02 mn tonnes of wheat, sufficient till the end of the fiscal year in June, Reuters Arabic Service reported, citing a ministry statement. State grain buyer GASC secured last month USD 1 bn of a USD 3 […]
Posted inManufacturing
Egypt, Romania sign manufacturing cooperation agreement
Chairman of the Arab Organization for Industrialization Abdel Moneam Al Tarras signed a manufacturing cooperation agreement with Romanian Business Environment Minister Radu Oprea for car tyres, oil pumps, railways, elevators, medical equipment, electric cars and smart systems,MENA reported.
Posted inHealth + Education
Egypt launches phase 3 of Hep C eradication campaign
The government-sponsored nationwide campaign to detect and treat Hepatitis C has entered its third phaseand is expected to cover another 23 mn individuals, according to statements from Health Minister Hala Zayed cited by Ahram Online. The first two phases screened 30 mn people as part of an effort to completely eradicate the disease from Egypt […]
Posted inTourism
EGOTH to sign EGP 85 mn contract to develop historic hotel next month
The state-owned General Company for Tourism and Hotels (EGOTH) will sign an EGP 85 mn contract with Plaza Inn next month to develop the Cosmopolitan Hotel, a subsidiary of the Three Corners Hotels and Resorts, Chairman Sherif El Bandari told Masrawy. The 3-star hotel in Bab Al Louq was built in 1902 and expanded in […]
Posted inTelecoms + ICT
TE, Nokia ink MoU to provide IoT services to Egypt businesses
Telecom Egypt has signed an MoU with Nokia to provide Internet of Things (IoT) services to businesses in Egypt through the Nokia Worldwide IoT Network Grid (WING), according to a ministry statement. The MoU will see the state-owned fixed-line monopoly develop cloud infrastructure and provide IoT services under its own brand at local prices to […]
Posted inTelecoms + ICT
Microsoft collaborates with Telecom Egypt to bring cloud services to Egypt
Telecom Egypt has announced a partnership with Microsoft to bring the American company’s cloud network to Egypt, Zawya reports. The announcement, made on the sidelines of the World Mobile Congress last week, follows a raft of MoUs on cloud computing with Huawei and Ericsson, as well as a cooperation agreement with American hardware company Cisco […]
Posted inOther Business News of Note
Amer Group plans to delist from EGX
Amer Group’s board approved a plan to delist the company’s shares from the EGX, the company said in a bourse filing. The decision was taken to allow investors to look for “alternative” options as the company’s revenue structure changes after it shifts most real estate development activities to Porto Group and diversifies its operations. The […]
Posted inON YOUR WAY OUT
Queens of ancient Egypt are in the spotlight
The endless fascination with ancient Egypt is currently centered on the “fierce female leadership” of its ruling queens. “Queens of Egypt” is a new exhibition at the National Geographic Museum which showcases more than 300 artifacts from the Egypt’s past while examining the power structures that prized female leadership in a patriarchal society.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.47 | Sell 17.57 EGP / USD at CIB: Buy 17.46 | Sell 17.56 EGP / USD at NBE: Buy 17.47 | Sell 17.57 EGX30 (Thursday): 14,804 (+0.2%) Turnover: EGP 1.76 bn (93% above the 90-day average) EGX 30 year-to-date: +13.6% THE MARKET ON THURSDAY: The EGX30 ended […]