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Serbia’s Nis Airport is expected to begin operating more flights to Egypt next summer, according to Serbian Monitor. EgyptAir subsidiary Air Cairo, AlMasria Universal Airlines and Air Serbia already operate year-round flights between Belgrade and Hurghada.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Careem launches tuk-tuk trials in Cairo
Careem has rolled out a trial run of its tuk-tuk service in parts of Cairo, according to Youm7. The report comes only weeks after the ride-hailing app launched bus services in the Egyptian capital and delivery services in Saudi Arabia and the UAE, and announced its intention to invest between USD 100-120 mn in the […]
Posted inAutomotive + Transportation
Swvl announces expansion to 10 cities in 2019
Mass transit app Swvl has announced plans to expand to 10 cities outside Egypt in 2019, beginning with the Philippine capital of Manila and including Nairobi, Dakar, and Jakarta, CEO and co-founder Mostafa Kandil tells Al Mal. We had previously reported that Thai and Vietnamese cities would be added in 1Q2019. The Saudi Finance Fund […]
Posted inBanking + Finance
Egypt’s IDB grants EGP 50 mn to Tamweely for MSMEs
The Industrial Development Bank (IDB) has signed a EGP 50 mn agreement with microfinance company Tamweely to provide financing for low-income projects and micro-SMEs, IDB Chairman Maged Fahmy announced. The funding is expected to support 8,000 clients across Egypt.
Posted inOther Business News of Note
McKinsey & Co among two companies looking to promote investments in Egypt
The Investment Ministry has received proposals from two international companies to promote investment in Egypt, including McKinsey & Company, according to Al Mal. The ministry will be approaching other companies for the job before making a final decision. No further details on the promotional campaign were provided.
Posted inOther Business News of Note
Gov’t extends export duties on scrap metals, waste and paper for 12 months
Trade and Industry Minister Amr Nassar issued a decision to extend custom duties on exported scrap metals, paper waste, and ores for an additional year, according to a ministry statement.
Posted inON YOUR WAY OUT
Good news in a bad year for climate change
Good news at the end of a bleak year, environmentally speaking: Record numbers of activists are pushing environmental issues at all levels of government, dirty industries like transportation are introducing clean energy policies, and behemoths like Google and Walmart are committing to renewables, according to Fast Company. As part of the drive towards reducing climate […]
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 (Tuesday): 12,671 (-0.9%) Turnover: EGP 380 mn (52% below the 90-day average) EGX 30 year-to-date: -15.6% THE MARKET ON TUESDAY: 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 23 December 2018
Good morning, friends, and a very happy Christmas Eve to all those among you who observe. It’s another oddly busy news morning here at home even as the holiday-season news slowdown becomes more pronounced abroad. ** We are off tomorrow and will be back in your inboxes on Wednesday morning at the usual time. The […]