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Egyptian Sponge Iron and Steel (ESIS), a subsidiary of Beshay Steel, is holding talks with a number of local banks, including Banque Misr, NBE, CIB, QNB, and the Arab African International Bank, for a EGP 3.5 bn loan to finance expansions, according to Al Mal. The company is looking to finalize the loan agreement in […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Banque du Caire in talks for USD 30 mn loan for SMEs
Banque du Caire is in talks with the Arab Fund for Social and Economic Development over a USD 30 mn loan for SMEs, sources tell Amwal Al Ghad. The two sides are expecting to reach a final agreement over the loan sometime during 1H2019.
Posted inOther Business News of Note
GTH planning EGP 11.2 bn rights issuance on the EGX
Global Telecom Holding (GTH) is planning to raise its capital through a rights issue on the EGX worth EGP 11.2 bn to existing shareholders, according to a company statement (pdf). “GTH intends to use the net proceeds from the rights offering to meet the Company’s financial obligations through to the end of 2019, including loans […]
Posted inSports
Egyptian defender Aly Ghazal joins Portuguese club
Egyptian footballer Aly Ghazal has joined Portuguese club Feirense, according to the BBC. The 26-year-old, who was released by the Vancouver Whitecaps, joins Feirense as they struggle to avoid relegation from the top echelon of the Portuguese league.
Posted inON YOUR WAY OUT
Female Egyptian oil engineer breaks barriers underwater
Meet Egypt’s first woman underwater engineer: A 26-year-old Egyptian oil engineer is one of only five women in the Middle East who practice commercial diving, and is the only woman in the region to train technicians in the field, Xinhua reports. Basant Bastawy, who specializes in underwater welding, constructs, inspects, and repairs oil pipeline connections […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.87 | Sell 17.96 EGP / USD at CIB: Buy 17.89 | Sell 17.96 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Tuesday): 13,403 (+0.5%) Turnover: EGP 1,030 mn (29% above the 90-day average) EGX 30 year-to-date: +2.8% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
10-13 January (Thursday-Sunday): International Property Show (IPS), Egypt International Exhibition Center. 17 January (Thursday): Talent in the Digital Era, Galleria40, Cairo, Egypt. 19 January (Saturday): Cairo Criminal Court scheduled hearing of Gamal and Alaa Mubarak’s stock market manipulation case. 20 January (Sunday): Cairo Court of Urgent Matters to hear an amendment to the constitutional to […]
Posted inWhat We're Tracking Today
What we’re tracking on 8 January 2019
The New Year holiday lull is over, with major announcements and key important news covering business, politics, legislation and regulation and international politics coming in over the past two days. Some of the the key highlights include, FX reserves have fallen, A new capital gains tax on corporations is upon us, the EGX approving market […]
Posted inWhat We're Tracking Today
Egyptian-American Rami Malek awarded best actor in Golden Globes
Rami Malek wins big in Golden Globes: Egyptian-American Actor Rami Malek has won Best Performance by an Actor in a Motion Picture — Drama for his role as Freddie Mercury in Bohemian Rhapsody in this year’s Golden Globes. Malek made a special reference to Queen band members Brian May and Roger Taylor — who were […]