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Etisalat Misr will begin selling fixed landline services this week, CEO Hazem Metwally said. It had signed in August the final contracts to offer the services through state-owned landline monopoly Telecom Egypt’s infrastructure. The company is planning to invest around EGP 3.5-4 bn over the next year to develop its network.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Companies interested in Alamein-Ain Sokhna railway project in talks with banks
A number of local and international companies have approached local banks to finance the Alamein-Ain Sokhna electric rail project, sources told Al Shorouk. The companies are required to submit a letter of guarantee worth EGP 1 bn from an accredited bank to meet the project’s prerequisites and submit their financial offers to the Transport Ministry.
Posted inBanking + Finance
Hermes’ ValU to launch new installment scheme for Swvl drivers soon
EFG Hermes’ ValU, which offers payment-on-installment solutions via a mobile app, is cooperating with mass transit app Swvl to soon provide installment plans for drivers to purchase vehicles under a new scheme endorsed by the Investment Ministry, EFG Hermes Finance CEO Walid Hassouna told Al Mal. An agreement between the two sides is expected to […]
Posted inNational Security
Egypt and Sudan set up joint patrols against cross-border threats from Libya
Egypt and Sudan agreed on Sunday to set up joint military patrols to face cross-border threats both countries face from militias operating in Libya, Sudanese Chief of Staff Kamal Abdul Maaruf said following a meeting between the two countries’ defense ministers, according to Reuters. The two countries also agreed on joint agricultural and animal production […]
Posted inSports
GB Auto IR exec Valavanis to fight for WBF intercontinental boxing title
Our friend GB Auto IR Manager Andre Valavanis will be fighting for the upcoming World Boxing Federation Intercontinental Welterweight title, after securing a win over Tanzania’s Salehe Mekalekwa in a rematch on Saturday.
Posted inSports
Egypt's Mohamed El Shorbagy claims 2018 Hong Kong Squash Open title
Egyptian squash player Mohamed El Shorbagy snagged the 2018 Hong Kong Squash Open title yesterday for the fourth time in his career after beating fellow Egyptian Ali Farag 3-0, according to PSA World Tour. Egypt’s Raneem El Welily, meanwhile, lost the title to New Zealand’s Joelle King.
Posted inON YOUR WAY OUT
Flat6Labs to launch 12th cycle in January with larger seed funding
Flat6Labs to launch 12th cycle in January: Our friends at Flat6Labs will launch their 12th startup accelerator cycle in January 2019. Startups that are accepted for the 12th cycle can expect to receive between EGP 500k and EGP 750k in initial seed funding and up to EGP 2 mn upon graduation, the firm said in […]
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 (Sunday): 13,154 (-3.8%) Turnover: EGP 795 mn (2% above the 90-day average) EGX 30 year-to-date: -12.4% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
End of November: A delegation from the Egypt-Greece Business Council will visit Athens at the end of November to promote investment, the council’s chairman, Hani Berzi, said. 25-28 November (Sunday-Wednesday): 22nd Cairo ICT, Egypt International Exhibition Center, Nasr City, Cairo. 26 November (Monday): The Financial Regulatory Authority (FRA) will look into an appeal by Beltone […]
Posted inWhat We're Tracking Today
What we’re tracking on 25 November 2018
** NEW SECTION: What’s driving the conversation for the government today? We’re launching this morning a new section appearing just before Egypt in the News that dissects the front pages of the nation’s three major state-owned dailies (Al Ahram, Al Akhbar and Al Gomhuria) for cues on the messages being pushed out by the government […]