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Posted inOther Business News of Note

Gov’t to put National Cement Company out of its misery

It appears that the government is leaning towards pulling the plug on the floundering National Cement Company, which has been racking up annual losses of around EGP 900 mn, according to sources from the Public Enterprises Ministry. While Minister Hisham Tawfik had said that the results independent auditors report would determine the outcome, preliminary findings […]

Posted inNational Security

Egypt to launch MisrSat A, a satellite to assist military and urban planners

The Egyptian National Authority for Remote Sensing and Space Sciences (NARSS) is planning to launch a USD 100 mn monitoring satellite to assist the military with border security on 22 November, reports Satelliteprome.com. MisrSat A, which was built by Russian spacecraft manufacturer Energia, will launch from Kazakhstan to start producing images of the border and […]

Posted inNational Security

First-ever Egyptian-built small navy warship unveiled in Alexandria

Alexandria Shipyard (ASY) launched the first Egyptian-built Gowind 2500 corvette from its facilities on Friday, IHS Jane’s 360 reports. The small coastal patrol warship Port Said is equipped with French military technology, which ASY acquired from France’s Naval Group (formerly DCNS). Egypt had ordered four corvettes in 2015 from Naval Group as part of a […]

Posted inSports

No, Zlatan is not moving to an FC in Egypt

Newly-founded Egyptian football club Pyramids denied rumors that Swedish footballer Zlatan Ibrahimovic would be joining its roster, Goal.com reports. Pyramids’ director Ahmed Hassan dismissed the information as “fake news” that was “absolutely baseless.” A number of news outlets had reported over the weekend that Ibrahimovic’s current club LA Galaxy had already accepted Pyramid’s offer, such […]

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 (Thursday): 15,803 (+0.3%) Turnover: EGP 645 mn (21% below the 90-day average) EGX 30 year-to-date: +5.2% THE MARKET ON THURSDAY: The EGX30 ended […]

Posted inCALENDAR

10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 11 September (Tuesday): Islamic New Year (TBC), national holiday. 16 September (Sunday): Creative Industry Summit 2018, Four Seasons Nile Plaza, Cairo. 17-19 September (Monday-Wednesday): INTERCEM Cairo to Cape Town cement industry conference, Dusit-Thani LakeView, Cairo. 18-21 September (Tuesday-Friday): The Big 5 Construct […]

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