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Capital Group Properties is planning to invest EGP 5 bn in its mixed-use compound Alburouj in 2019, Chief Projects Officer Amgad Hassanein said. The funding will be directed toward completing the construction of units in the compound’s first phase and develop a new smart village complex. CGP had launched the EGP 700 bn Alburouj project […]
Author Archives: enterpriseam admin
Posted inTourism
Austria’s VAMED eyes Egypt’s medical tourism market
Global healthcare provider VAMED AG has expressed interest in investing in Egypt’s medical tourism sector in a meeting between officials from the Austrian company and Prime Minister Moustafa Madbouly that included the Health Minister Hala Zayed on Wednesday, according to a cabinet statement. Madbouly highlighted his government’s policy to develop the medical tourism sector, especially […]
Posted inTelecoms + ICT
SICO looks to enter joint-manufacturing partnerships with foreign companies
Egyptian electronics manufacturer SICO is in talks with foreign companies to enter into joint-manufacturing agreements, ICT Minister Amr Talaat told Amwal Al Ghad. Talaat did not give specific names of companies and did not provide further details about the plan.
Posted inAutomotive + Transportation
Uber announces new safety features for passengers and drivers in Middle East, Europe, Africa
Uber will be rolling out new safety measures over the next few weeks for drivers and riders across the Middle East, Africa, and Europe, Uber Egypt said in a press release (pdf). In addition to introducing caller privacy — which will allow drivers and riders to call each other without revealing the other’s number — […]
Posted inAutomotive + Transportation
Drshal Egypt to convert eight diesel buses to electric
The Holding Company for Maritime and Land Transport inked an agreement with Drshal Egypt to convert eight diesel-operated buses to electric-powered vehicles, Chairman Hassan El Dessouky said, according to Al Mal. Drshal, which is set to start work on the buses next month, will use the state-owned Engineering Automotive Company’s production lines for the project.
Posted inBanking + Finance
CIB, NBE and Banque Misr agree to fund waste-to-energy projects
CIB, the National Bank of Egypt (NBE), and Banque Misr have agreed to provide funding for waste-to-energy projects with a capacity of up to 10 MW, sources told a local newspaper. The banks will begin extending loans once the government reaches a decision on final tariff rates.
Posted inBanking + Finance
NBE, CIB, QNB Alahli, IDBE to fund projects aimed towards curbing industrial pollution
The Environment Ministry has reportedly signed agreements with four local banks to help run a financing scheme for projects aimed at curbing industrial pollution, unnamed ministry sources said. CIB, National Bank of Egypt, QNB Alahli, and the Industrial Development Bank. The agreement is part of a wider EUR 145 mn program between Egypt, the European […]
Posted inBanking + Finance
NRA to receive USD 114.98 mn from Korea to automate Naga Hamady-Luxor railway
The National Railways Authority (NRA) is finalizing procedures to receive a USD 114.98 mn loan from Korea’s Economic Development Cooperation Fund to automate the signaling system for the 118 km Naga Hamady-Luxor rail line, NRA head Ashraf Raslan tells Youm7. Raslan did not specify when the loan will be disbursed. The authority hired a Korea-based […]
Posted inBanking + Finance
NBE, NAT, Metro Company, sign agreement for e-payments at the metro
The National Bank of Egypt (NBE), the National Authority for Tunnels (NAT), and the Egyptian Co. For Metro Management & Operation have signed an agreement to introduce electronic payments for Cairo Metro commuters, Al Mal reports. The agreement, part of the government’s transition towards a “cashless economy,” will bring points of sale to metro ticket […]
Posted inEgypt Politics + Economics
Egypt renews ex-diplomat Masoum Marzouk’s detention for 15 days
The Supreme State Security Prosecution renewed the detention of ex-diplomat Masoum Marzouk and six others for 15 days pending investigations into alleged terror charges, according to Al Shorouk. Marzouk was detained in August, shortly after he had called for a referendum on President Abdel Fattah El Sisi.