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Egypt and Serbia agreed to hold a mixed economic cooperation committee meeting in 1H2019, following Foreign Minister Sameh Shoukry’s sit down with Serbian Prime Minister Ana Brnabić yesterday, according to the Foreign Ministry. The two leaders also discussed increasing cooperation in agriculture and tourism. Shoukry also met with Serbia’s Foreign Minister Ivica Dacichas, who thanked […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt’s prosecutor general meets Italian delegation over Regeni case
Ongoing investigations into the murder of Italian PhD student Giulio Regeni are “going well,” a delegation from the Italian prosecutor’s office said in a joint statement with Prosecutor General Nabil Sadek following a meeting between the two sides yesterday, according to Al Masry Al Youm. Egyptian authorities presented their technical examinations of CCTV footage extracted […]
Posted inEnergy
Gamesa to supply solar power stations for Scatec’s plants at Benban
Spain’s Gamesa Electric will supply six solar power stations producing a combined 400 MW for Norwegian company Scatec Solar to install in its plants at the Benban solar complex, Gamesa said in a press release.
Posted inInfrastructure
SCCT inks agreement with Telecom Egypt to extend fiber-optic cable network
The Suez Canal Container Terminals (SCCT) has signed an agreement with state-owned Telecom Egypt to extend fiber-optic cables to the Suez Canal Economic Zone, Al Mal reports. No details were provided on the value of the contract.
Posted inAutomotive + Transportation
Alexandria to receive first Wi-Fi tram next month
Ukrainian tram manufacturer Tatra-Yug will supply Alexandria with its first Wi-Fi-equipped tram next month, the head of Alexandria’s Public Transport Authority Khalid Elewa said yesterday, according to Egyptian Streets. If the first tram is deemed a success, the company will supply an additional 14 trams designed to handle Alexandria’s weather and operate on the city’s […]
Posted inAutomotive + Transportation
Egypt’s auto sales rise 30% y-o-y in 10M2018
Total auto sales jumped 30% y-o-y in the first 10 months of 2018 with 150,000 vehicles sold, according to figures from the Automotive Information Council (AMIC) picked up by Al Mal. Locally assembled car sales increased 18.5% to 71.5k units, while imported car sales jumped by 62.3% to 78.4k. Chevrolet captured a 21.8% market share, […]
Posted inBanking + Finance
Orascom Investment approves USD 170 mn loan from Afreximbank
Orascom Investment Holding’s board of directors has approved a USD 170 mn facility from the African Export-Import Bank (Afreximbank), it said in an EGX disclosure (pdf).
Posted inMy Morning Routine
Aladdin El Afifi, Co-CEO, Pharos Holding
My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions because we simply can’t help ourselves. Extracts from our conversation this week with Alaa El Afifi, co-CEO at Pharos Holding, our first-ever financial sponsor. Who are you? […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.95 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 13,309 (+0.7%) Turnover: EGP 1.2 bn (52% above the 90-day average) EGX 30 year-to-date: -11.4% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
03 December (Monday) Consumer Finance Landscape-New Law in the Making, Fairmont Hotel Nile City, Magenta ballroom, Cairo, Egypt 03-05 December (Monday-Wednesday): First Egypt Defense Expo “EDEX 2018”, Egypt International Exhibition Center, Nasr City Cairo. 04 December (Tuesday): The Central Bank of Egypt will terminate the foreign exchange repatriation mechanism, according to a CBE statement (pdf). […]