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Radisson Hotel Group has signed an agreement to acquire six new hotels across Egypt, the company announced on Friday. The international company will add hotels in Heliopolis, New Cairo, Golf City, Ain Sokhna, and Hurghada to its portfolio, making it one of the largest hoteliers operating in Egypt. The properties will open at varying times […]
Author Archives: enterpriseam admin
Posted inTourism
Egypt bookings growing at Thomas Cook
British tour operator Thomas Cook’s revenues from rising bookings Egypt, Turkey and other North African destinations managed to offset weaker demand in Spain between October and December, the Financial Times reported. Egypt and Turkey in particular are gaining popularity among the travel agent’s clients.
Posted inAutomotive + Transportation
Egypt’s Arafat discusses with Siemens USD 153 mn railway signaling project
Transport Minister Hisham Arafat sat down with a delegation of executives from Siemens, headed by CEO Michael Peter, to discuss the latest developments in the company’s USD 153 mn railway signaling project, according to a ministry statement. The project involves building an electronic interlocking system (EIS) to automate signaling along the Banha-Port Said and Zagazig-Abou […]
Posted inAutomotive + Transportation
Careem launches bus service in Alexandria
Ride-hailing company Careem has launched its bus service in Alexandria as part of its plan to launch the service across six governorates this year, according to Al Masry Al Youm. The company has invested USD 100 mn in developing the service.
Posted inAutomotive + Transportation
Suez Canal Authority considering up to 60% discounts for ships
The Suez Canal Authority is considering offering 30-60% discounts on fees in six ports in an attempt to draw more business to the ports, spokeswoman Hend Fathy tells Al Shorouk. The authority has been reducing fees in several of its ports to attract more traffic after a previous decision to raise fees caused major shipping […]
Posted inBanking + Finance
Al Marasem in talks with banks for EGP 1.6 bn Islamic finance
Al Marasem International for Development is in talks with several banks to get an EGP 1.6 bn Islamic loan to finance the construction of its “Fifth Square” project in New Cairo,banking sources tell Al Shorouk. The developer is also seeking a separate EGP 960 mn financing package to fund its construction works in the new […]
Posted inLegislation + Policy
Egypt to refer NGOs Act amendments to Cabinet by March
The Social Solidarity-led committee drafting amendments to the NGOs Act will present a report to the ministry in less than a week, Minister Ghada Waly said, according to Al Mal. The committee involved several local and international NGOs. It will nominate sub-committee to draft a final version of the amendments to send to Cabinet by […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.55 | Sell 17.65 EGP / USD at CIB: Buy 17.56 | Sell 17.66 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Thursday): 14,767 (+0.2%) Turnover: EGP 1.2 bn (38% above the 90-day average) EGX 30 year-to-date: +13.3% THE MARKET ON THURSDAY: 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 rate. 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 7 February 2019
** The 2019 Enterprise CEO Week wraps up this morning. We don’t drink startup Kool-Aid and we don’t worship at the temple of PE. Even if you’re more militant about this than we are, Tarek and Sherif are must-read interviews: You’ll walk away feeling a hell of a lot more optimistic about where our community […]