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**#8 The CBE has launched a client's database for the banking sector, ostensibly to monitor progress on financial inclusion, the CBE said in a statement. The CBE instructed banks to provide it with client datasheets by 21 October. The statement did not specify how extensive the client data should be or if they will include […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
NUCA announced housing projects on El Warraq and Sphinx City
The New Urban Communities Authority (NUCA) board of directors agreed to establish two new housing projects, one on El Warraq island — the site of major eviction clashes last year — and the other on a patch of land on the Cairo-Alexandria desert road which become the new Sphinx City, Prime Minister Mostafa Madbouly told […]
Posted inTourism
Sharm and Hurghada to top MENA destinations in 3Q2018 -Colliers
Sharm El Sheikh and Hurghada are expected to remain two of the top tourist hotspots in the MENA region in 3Q2018, with revenue per room expected to rise 18% and 13%, respectively during the quarter, according to Colliers International latest forecast. The top five hotels on the list were all in the UAE, with four […]
Posted inTourism
Antiquities Ministry to raise ticket prices further
The Antiquities Ministry will raise ticket prices more on Egypt’s museums and archaeological sites as it looks to offset increased spending and running costs incurred over the past year, Antiquities Minister Khaled El Anani said, according to Al Masry Al Youm.
Posted inTelecoms + ICT
Egypt software piracy rate is now lower than Vietnam, Mococo, Philippines
**#7 Software piracy in Egypt is down for the second consecutive year, thanks in part to the Cybercrime Act passed in July, the Business Software Alliance said. The study reveals that the global commercial value of unlicensed software witnessed a significant decline to USD 64 mn in 2017 from USD 157 mn in 2015, giving […]
Posted inTelecoms + ICT
Raya Contact Center moving into mega facility in West Cairo Smart Village
Raya Contact Center is now leasing a 8,400 sqm facility in West-Cairo’s Smart Village business park. This new mega facility is expected to host state-of-the-art 1,500 seater workstation, the company said in a press release today (pdf).
Posted inAutomotive + Transportation
Russia’s Transmashholding to deliver first batch of railway cars in October
Egypt will be receiving in October the first 500 batch of 1,300 railway cars from Russia’s Transmashholding, Egyptian National Railways (ENR) head Ashraf Raslan said, Al Shorouk reports. The cars will be used in lines servicing the Upper Egypt area, he said. Egypt’s Cabinet approved in August ENR’s agreement with Transmashholding to supply the railway […]
Posted inOther Business News of Note
Public Enterprises Ministry to shut down National Cement Company
The Public Enterprises Ministry has decided to shut down the National Cement Company after a feasibility study concluded that it would be able to make a turnaround, Chemicals Holding Company head Emad El Din Moustafa said, according to Masrawy.
Posted inOther Business News of Note
Bertelsmann’s customer service venture to enter Egypt through JV with Morocco’s Saham
German publisher Bertelsmann create a 50-50 joint venture with Moroccan partner Saham that will extend its customer service business to Egypt, Saudi Arabia and Qatar, the company said yesterday, according to Reuters. The EUR 17 bn company will merge its customer service business, Arvato CRM, with that of Saham’s to create a EUR 1.2 bn […]
Posted inNational Security
US approves USD 99 mn in military sales to Egypt
The US State Department approved the potential sale of USD 99 mn-worth of ammunition to Egypt, the US Defense Security Cooperation Agency said in a statement yesterday. The Egyptian government had made a request for the purchase of 60,500 rounds of different types of ammo. “The proposed sale will improve Egypt's capability to meet current […]