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The Egyptian Competition Authority (ECA) has warned schools against selling uniforms and supplies through exclusive distribution agreements with retailers, claiming that these agreements are detrimental to market competitiveness, according to a statement on Monday (pdf). The ECA recommended that schools issue generic and simple uniforms that are easy to acquire and keep only one unique […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Egypt to open 34 Japanese schools this September
Egypt will open 34 Japanese schools across 19 different governorates on 22 September, Education Minister Tarek Shawky said, Al Bawaba reports. Annual fees have been set at EGP 10,000, he said, without clarifying if the amount varies across different grades.
Posted inReal Estate + Housing
MNHD awards Taj City transmission line burial contract to military-run company
Madinet Nasr Housing and Development (MNHD) announced on Monday (pdf) that it has awarded a contract for the burial under ground of overhead transmission lines at its Taj City development. The project, which will see the overhead lines buried outside the land plot, will be supervised by the Egyptian Electricity Transmission company and will be […]
Posted inTourism
Taba Heights signs agreement with Polish tour operator for weekly flights
Orascom Development Holding’s (ODH) Taba Heights signed an agreement with Polish tour operator Itaka that will see them operate two weekly flights to Taba from Poland and Lithuania starting November, ODH said in a press release. Itaka is also planning to add two more flights from the Czech Republic next year.
Posted inTourism
Egypt in talks to resume flights between Cairo, Bucharest by November
Egypt is now shooting for direct flights between Cairo and Bucharest to resume in November, head of Egyptian-Romanian Business Council Ahmed El Sokary said, state-run Al Ahram reports. The flights between the two cities have been suspended for four years and negotiations have been ongoing to get them back. This issue was discussed at the […]
Posted inAutomotive + Transportation
No more metro ticket discounts for judges, police, army or journalists
The government decided on Monday to halt discounts on Cairo Metro ticket fares that were previously given to members of the police, military, and judiciary, as well as journalists, Metro Company spokesman Ahmed Abdel Hadi said, Ahram Online reports. Abdel Hadi said that special rates were still available through memberships.
Posted inBanking + Finance
FRA to soon issue guide to protect Egypt’s non-banking sector
The Financial Regulatory Authority (FRA) is in the process of issuing its first guide for protecting non-banking financial sector client funds against misuse, FRA boss Mohamed Omran, said in a statement picked up by Al Mal. A final copy of the 80-page guide — which covers clients in financial leasing, securities, and SME financing, among […]
Posted inBanking + Finance
United Bank and Afrexim launch financing and insurance package for Egyptian exporters
The United Bank and African Export-Import Bank (Afrexim) launched a new bundle of financing options and insurance package for Egyptian exporters, Al Mal reports. Under an agreement between the two banks, United provides necessary financing, while Afrexim provides guarantees and insurance for exporters in 50 African countries.
Posted inON YOUR WAY OUT
Egypt gears up to defend title at women’s world squash championships
Egypt’s team is in good shape to defend its top spot at the CGG WSF Women’s World Team Squash Championship which kicked off yesterday in Dalian, China, according to insidethegames.biz. The team’s four players — Nour El Sherbini, Raneem El Weleily, Nour El Tayeb, and Nouran Gohar — are among the world’s top six. They […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.86 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Monday): 15,628 (-0.7%) Turnover: EGP 557 mn (30% below the 90-day average) EGX 30 year-to-date: +4.1% THE MARKET ON MONDAY: The EGX30 ended […]