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The National Authority for Tunnels has reportedly called off its tender for construction works on the phase one of Cairo Metro Line 4, local news said. The authority received an expensive offer from a Taisei Corporation-Orascom Construction consortium, which appears to be the only qualified bidder. The planned line will run from 6 October City […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Emirates NBD Egypt named best bank in 2018 by The Banker Africa
Emirates NBD Egypt has received The Banker Africa’s “Best Bank in Egypt in 2018” award for the second consecutive year, according to Al Mal. The bank was recognized for its recent innovations and its distinguished online banking services.
Posted inBanking + Finance
10k CIB corporate clients using online platforms to access GTS services
10,000 corporate clients of CIB’s global transaction services (GTS) department are using online platforms to access its services, Chief Digital Officer Mohamed Farag tells Al Mal. The companies use the platforms for supply chain finance, electronic government payments, ecommerce, and automated clearing house (ACH) transfers.
Posted inLegislation + Policy
Transport Ministry to hire adviser to review maritime transport legislations
The Transport Ministry will issue within days a tender for an adviser to review all maritime transport legislation, head of the ministry’s maritime sector Reda Ismail tells Al Mal. Most existing laws are unable to cope with new changes in the industry and need to be reviewed, he said.
Posted inSports
Crowd trouble cuts short African Champions League match in Egypt
“Crowd trouble” resulted in a Group C African Champions League match held at the Ismailia Stadium to be abandoned on Friday, the BBC reports. Supporters of host team Ismaily, angered at decisions taken in the match with Tunisia’s Club Africain, threw objects onto the field, causing the referee to call off the match in extra […]
Posted inON YOUR WAY OUT
An end to flaring? Egyptian oil companies use associated gas for power
Two Egyptian oil companies are bucking the industry trend of flaring associated gas by using it for power generation instead, an Oil Ministry source said, according to Youm7. Dana Petroleum-EGPC JV Petro Kareem and Vegas-EGPC JV Petro Amir began a project last March to process gas produced at oil fields either for on-site electricity or […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.88 | Sell 17.96 EGP / USD at CIB: Buy 17.88 | Sell 17.96 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Sunday): 13,444 (-0.3%) Turnover: EGP 396 mn (51% below the 90-day average) EGX 30 year-to-date: +3.1% THE MARKET ON SUNDAY: 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, […]
Posted inWhat We're Tracking Today
What we’re tracking on 20 January 2019
It looks like we’re going to have a short work week: Thursday will be a day off for the public sector in observance of Revolution Day / Police Day, which falls on Friday, according to a Cabinet statement on Thursday. This makes it likely financial markets will follow suit, but there was no word from […]