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Global Travel International will begin operating weekly flights to Hurghada from Slovenia and Macedoniastarting June, according to Al Shorouk. Discussions are also underway to link Sharm El Sheikh and Macedonia, but no agreement has been reached yet.
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Orange, Telecom Egypt sign agreement to provide high-speed bitstream services
Orange Data signed on Tuesday an agreement with Telecom Egypt to provide high-speed bitstream services to their customers, which would increase the maximum internet speed to 100 Mbps from 16 Mbps, according to apress release.
Posted inAutomotive + Transportation
Uber raises fares to offset anticipated implementation of VAT
Ride-hailing app Uber has decided to raise its fares to offset inflation, an increase in its drivers’ fees, and the upcoming implementation of the 14% value-added tax (VAT) on its operations, according to an emailed statement (pdf). The Ride-Hailing Apps Act, which passed the House of Representatives in its controversial final form in May of […]
Posted inOther Business News of Note
OIH-Prism JV agrees to negotiate settlement for sound and light show failure
A JV between Orascom Investment Holding (OIH) and Prism International has agreed to negotiate a settlement with the Sound and Light Cinema Company (SLCC) for last year’s contractual annulment, SLCC Chairman Sameh Saad said, according to Al Mal. SLCC contracted the JV to develop and run the sound and light show, but the latter allegedly […]
Posted inOther Business News of Note
Egypt to set up medical waste recycling facility JV with UAE-based company
The Military Production Ministry is planning to partner with Emirates Industrial Conversion Factory to establish a medical waste recycling facility, according to a ministry statement. There was no mention of the project’s value, timeline, planned location, or output.
Posted inSports
Egyptian Ali Farag tops world squash rankings
Egyptian squash player Ali Farag has cracked into the number one spot in the PSA world squash rankings for the first time in his career, edging out fellow Egyptian Mohamed El Shorbagy on 1 March after his victory at the J.P. Morgan Tournament of Champions in New York.
Posted inON YOUR WAY OUT
First StartEgypt forum introduces young entrepreneurs to investors, mentors
First StartEgypt forum introduces young entrepreneurs to investors, mentors: StartEgypt, a pre-acceleration incubation program targeting young Egyptian entrepreneurs working in fields of social impact, held its first forum event on Monday, according to a press release from the British Embassy. The event showcased 27 startups — whittled down from some 1,200 applications — from their […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.56 | Sell 17.66 EGP / USD at CIB: Buy 17.55 | Sell 17.65 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Tuesday): 14,928 (+1.0%) Turnover: EGP 1.2 bn (37% above the 90-day average) EGX 30 year-to-date: +14.5% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
11-13 February (Monday-Wednesday): Renaissance Capital Egypt Investor Trip, Cairo. 11-13 February (Monday-Wednesday): Egypt Petroleum Show, Egyptian International Exhibition Center, Cairo. 14 February (Thursday): Central Bank of Egypt’s monetary policy committee meets to review interest rates. 19 February (Tuesday): Cairo Economic Court to deliver decision on pharma distributors appeal, Egypt. 19-20 February (Tuesday-Wednesday): The Solar Show […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 February 2019
As we suggested yesterday, it is all oil and gas, all the time with the kickoff of the three-day Egypt Petroleum Show. Among the headlines so far: New energy contracts are nearly ready and will drive investment to undeveloped areas, Oil Minister Tarek El Molla told reporters; Peak Zohr: The Zohr supergiant offshore gas field […]