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Egypt Kuwait Holding (EKH) is looking for a loan to partially fund the EGP 2.1 bn medium-density fiberboard (MDF) factory in Beni Suef, Investor Relations Director Haitham Abdel Moneim tells Al Mal. EKH is in talks with foreign and local lenders for the loan. A financing structure for the project is currently being worked out, […]
Author Archives: enterpriseam admin
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 inNational Security
Roadside explosion kills army colonel in central Sinai
An army colonel was killed on Friday near Al Halal mountain in Central Sinai while inspecting an unmanned vehicle which detonated, anonymous security officials said, according to the Associated Press. A separate explosion wounded an army conscript in North Sinai.
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 inON YOUR WAY OUT
Egyptian Maha Rasheed is one of the FT’s top Middle Eastern fashion designers
Egyptian fashion designer Maha Abdul Rasheed appeared on the FT’s list of noteworthy Middle Eastern designers for her 'Bambah' branded collection. “Her decadent jacquard evening gowns that riff on classic 1950s silhouettes are stocked at Harvey Nichols in Dubai, and have been worn by Amal Clooney,” the Financial Times says.
Posted inON YOUR WAY OUT
Egyptian film ‘Talq Senaee’ to open Malmö Arab Film Festival
Egyptian comedy ‘Talq Senaee’ (induced labor) will be screened at the opening of Malmö Arab Film Festival this year, which kicks off 5 October in Sweden, according to the festival’s official website.
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 […]