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GASC has issued Egypt’s second international rice tender for 20,000 tonnes of medium on short grained white rice, according to GASC’s website. The bidding window closes on 27 January. Egypt bought last month 130k tonnes of rice in its largest import to date from one Chinese supplier and four other countries.
Author Archives: enterpriseam admin
Posted inHealth + Education
CIRA’s private university in west Assiut to cost EGP 2.45 bn
Cairo Investment and Real Estate Development’s (CIRA) planned private university in west Assiut is expected to cost a total of EGP 2.45 bn, according to Al Mal. The first EGP 500-800 mn phase of the university will be financed through both equity and debt. The New Urban Communities Authority (NUCA) had recently granted CIRA an […]
Posted inTelecoms + ICT
TMG signs digital partnership agreement with Huawei Technologies
Talaat Moustafa Group (TMG) has inked a partnership agreement with Huawei Technologies to provide the technology to develop TMG projects into smart cities, according to Al Mal. The agreement entails implementing AI systems and North Africa’s first facial recognition system for increased security.
Posted inTelecoms + ICT
Egypt loses mobile subscribers in October, penetration rate falls to 102.48%
The number of mobile service subscribers in Egypt declined 5.52% y-o-y in October 2018 to record 94.31 mn, down from 99.82 mn in October 2017, according to an ICT Ministry report (pdf). This brought Egypt’s mobile phone penetration rate to 102.48% by the end of October, down 7.89% y-o-y. The number of ADSL subscribers, meanwhile, […]
Posted inBanking + Finance
National Bank of Egypt will begin issuing “Meeza” debit cards today
The National Bank of Egypt will begin issuing “Meeza” debit cards as of today, Retail CEO Alaa Farouk tells Masrawy. The card — which the Finance Ministry first announced in September as part of the government’s new e-payments drive — would make state benefits available electronically to pensioners, civil servants, and subsidy recipients. Banque Misr […]
Posted inBanking + Finance
Banking consortium to lend Al Nasr Coke USD 100 mn for coke-oven battery
A local banking consortium led by the Bank of Alexandria is arranging a USD 100 mn loan for Al Nasr for Coke and Chemicals, company head Medhat Nafei told Al Mal. Al Nasr, a subsidiary of the Chemical Industries Holding Company, will use the loan to finance the establishment of a coke-oven battery. Building the […]
Posted inBanking + Finance
NBE looks to arrange EGP 2.4 bn syndicated loan for EGPC
The National Bank of Egypt is in talks with local banks to arrange a EGP 2.4 bn syndicated loan for the Egyptian General Petroleum Company (EGPC), banking sources told Al Shorouk. The loan, which includes a USD-denominated tranche, will be used to develop the EGPC’s oil wells.
Posted inBanking + Finance
EBRD preliminarily agrees to lend EUR 400 mn to Egypt’s Damietta Port Authority
The European Bank for Reconstruction and Development (EBRD) has agreed in principle to lend EUR 400 mn to the Damietta Port Authority to finance the construction of a second container terminal at the port, banking sources told Al Shorouk. The authority was set last year to sign a EUR 305 mn loan agreement with the […]
Posted inEgypt Politics + Economics
Egypt deports one of two Germans for link to Daesh group in Sinai
Authorities deported Egyptian-born German Mahmoud Abdel Aziz over suspected links to Daesh and plans to join an offshoot group, state news agency MENA reported, according to Ahram Online. A second German national, Issa El Sabagh, was also arrested last week at Luxor International airport over the same charges and is expected to be deported as […]
Posted inEgypt Politics + Economics
Egypt court acquits Ikhwan top brass from murder charges
The Giza Criminal Court acquitted on Thursday Ikhwan leader Mohamed Badie — along with deputies El Beltagy and Essam El Erian, and several others — of “gathering with the intention of murder and sabotage” in a case dating back to 2013, state news agency MENA reported, according to Middle East Eye. Badie still faces a […]