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The first phase of Metro Line 4, which includes four stations, will be officially inaugurated on 25 January, a Transport Ministry source tells Al Mal. Work on the first phase of Line 4 began in 2015. The government will also announce new ticket prices for Line 3 on Friday, the source said. Line 3 currently […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Cairo 3A seeks EGP 3.4 bn loan for expansions
Agricultural commodity trader and manufacturer Cairo 3A is in talks with the National Banque of Egypt, Banque Misr, CIB, and the Arab African International Bank for a loan of up to EGP 3.4 bn to finance expansion plans, sources tell Al Mal. Cairo 3A is already in talks to acquire Pyramid Poultry.
Posted inOther Business News of Note
Carbon Holdings signs logistics management MoU with Agility
Carbon Holdings has signed an MoU with logistics provider Agility that will see the latter manage logistics for Carbon’s industrial facilities in Egypt, including the USD 10.9 bn Tahrir Petrochemicals Company, according to an emailed statement (pdf). Under the agreement, “Agility will work with Carbon Holdings … to transport plastic byproducts within Egypt and to […]
Posted inLaw
Shearman & Sterling advise EFG Hermes on first close of Egypt Education Fund
Global law firm Shearman & Sterling were legal advisers to EFG Hermes on the successful first close of its Egypt Education Fund, with the second close expected to be completed in 2019, the Global Legal Chronicle tells us. The DIFC-based fund, which forms part of a USD 300 mn joint venture platform established in partnership […]
Posted inNational Security
Egypt, Bahrain conduct joint-military exercises
Egyptian air and naval troops have traveled to Bahrain to conduct a joint-military exercise dubbed Hamad-3, according to the State Information Service, citing MENA.
Posted inSports
Egypt’s handball World Championship dreams come to an end
Egypt were beaten 32-28 in their match-up with Norway at the handball World Championships, crushing their hopes to qualify for the World Championship semi-final for the first time since 2001, Ahram Online reports.
Posted inON YOUR WAY OUT
Egypt’s Pharos Holding receives International Finance Magazine award
Our friends at Pharos Holding received last week International Finance Magazine’s “Best Equity Research Company” award for 2018 at a gala held in Dubai. The firm was named last month the award’s winner, which “recognizes the research capabilities of Pharos and their continued commitment to excellence and contribution to the industry,” according to an emailed […]
Posted inON YOUR WAY OUT
Egypt working on granting rights to private companies to run nature reserves
Egypt working on granting rights to private companies to run nature reserves: Environment Minister Yasmine Fouad is pushing for the expedition of a long-stalled draft legislation to grant administration rights to private companies to run nature reserves under the ministry’s supervision, Al Monitor reports. The legislation had stirred controversy amid concerns it would violate a […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.88 | Sell 17.96 EGP / USD at CIB: Buy 17.87 | Sell 17.96 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Monday): 13,575 (+1.0%) Turnover: EGP 742 mn (7% below the 90-day average) EGX 30 year-to-date: +4.1% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
21-22 January (Monday-Tuesday): EPEA and IFC’s SME Governance Workshop at the Fairmont Nile City Hotel. 22-23 January (Tuesday-Wednesday): CI Capital’s third annual MENA Investor Conference, The Plaza, New York City, USA. 22-25 January (Tuesday-Friday): World Economic Forum (WEF) Annual Meeting, Davos-Klosters, Switzerland. 23 January (Wednesday) 50th Cairo International Book Fair. 25 January (Friday): Police Day, […]