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The Suez Canal Authority has extended to 31 December 2019 a 30% discount on the fees on Egyptian cargo carriers passing between Port Said Port and East Port Said Port, according to a statement picked up by Al Mal.
Author Archives: enterpriseam admin
Posted inBanking + Finance
SMEs Authority in talks with Banque Misr for EGP 500 mn for new projects
The SMEs Development Authority is in talks with Banque Misr to receive a EGP 500 mn loan to offer financing for new projects, Banque Misr’s SMEs division Sherif El Beheiry tells Al Mal. The bank is also near closing a separate EGP 500 mn loan with the authority.
Posted inOther Business News of Note
GAFI studying 12 new freezones, investment complexes across Egypt
The General Authority for Investment and Freezones (GAFI) is studying establishing 12 new freezones and investment complexes across Egypt which could host up to 8,000 projects, according to an Investment Ministry statement (pdf). The planned locations for the new zones are Banha, Arab El Olaiqat, Tanta, Meet Ghamr, Giza’s Saff, Damietta, Sharqiya, New Cairo’s Almaza, […]
Posted inOther Business News of Note
Govt to launch Egypt-Saudi industrial zone for SMEs in Egypt
Egypt will propose setting up an industrial zone for Saudi small- and medium-sized companies in Egypt, Industrial Development Authority head Ahmed Abdel Razek said, according to Al Masry Al Youm. The government plans to discuss the proposal in February, according to Abdel Razek.
Posted inLegislation + Policy
Madbouly alters structure of Egypt’s supreme private partnership authority
Prime Minister Moustafa Madbouly issued a decision altering the structure of a supreme authority governing private sector partnerships, which will see ministries most relevant to a project under discussion earn membership status, according to a ministry statement. The Madbouly Cabinet approved earlier this week legislative amendments which would streamline public-private partnership (PPP) contracts.
Posted inSports
Egypt’s Sam Morsy extends contract with the UK’s Wigan Athletic
Egypt’s Sam Morsy has extended his contract with English football club Wigan Athletic for an additional two and a half years, according to Ahram Online. Morsy was a second-string midfielder in Egypt’s national team at this year’s World Cup.
Posted inSports
Maha Amer takes first place in three titles, earns Best Diver for Women
Egyptian diver Maha Amer landed three first-place titles at the Egyptian National Diving Competition in Cairo last weekend, Arkansas Razorbacks reported. Amr claimed the 1-meter and 3-meter springboards as well as the mixed synchro-meter with her partner Mohab Mohaymen. The 19-year-old also won the Best Diver Cup for Women.
Posted inON YOUR WAY OUT
Juhayna looks to clean energy to run its factories in Egypt
Juhayna Food Industries is planning to shift to alternative sources of energy across all its production factories next year, according to Reuters’ Zawya. The dairy and juice manufacturer is partnering with Solarize Egypt to make its El Dawleya plant 100% reliant on solar energy, while remaining factories will source 12-15% of their total energy needs […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.95 EGP / USD at CIB: Buy 17.89 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 12,840 (+1.3%) Turnover: EGP 400 mn (50% below the 90-day average) EGX 30 year-to-date: -14.5% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
December: The Madbouly government is expected to make announce details of the second phase of the presently-stalled privatization program and to set the timing of a meeting in January at which to assess whether market conditions will allow the program to resume. Mid-late December: The bylaws and articles governing proposed EGP 200 bn sovereign wealth […]