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The General Authority for Supply Commodities (GASC) issued an international tender yesterday for an unspecified amount of wheat, for delivery in 21-30 October, Vice Chairman Ahmed Yousuf tells Reuters’ Arabic service.
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Etisalat to build 70 new solar power cellular towers before year’s end
Etisalat Egypt aims to complete and operate 70 new solar powered cellular phone towers by the end of this year, Chief Corporate Affairs Officer Khaled Higazi said, according to Al Mal. The company currently operates 100 solar-operated towers which “cost six times more to develop than regular ones but are part of Etisalat’s strategy to […]
Posted inAutomotive + Transportation
Financial offers for Alamein-Ain Sokhna electric rail due in October
Companies interested in the new Alamein-Ain Sokhna electric rail project will be asked to submit their financial offers in October, once the Transport Ministry completes its review of their technical bids, Deputy Minister Amr Shaath tells Amwal Al Ghad. The offers came from nine international consortiums, which include among their ranks at least five or […]
Posted inBanking + Finance
FRA looks to expand scope of investor protection fund
The Financial Regulatory Authority’s (FRA) Capital Markets Committee is looking into a proposal to widen the scope of the Egyptian Investor Protection Fund’s (EIPF) cover stock market losses resulting from fraud, FRA Deputy Chairman Khaled El Nashar tells Youm7. The fund’s expanded scope would also cover appointing an independent financial advisor for companies facing mandatory […]
Posted inOther Business News of Note
OTMT plans to launch logistics, financial services, food business
OTMT is planning to launch a logistics project that would include operating 2,000 trucks to transport goods in its first phase, CEO Tamer El Mahdi tells Al Mal. El Mahdi did not disclose details on the investment value of the project, which is set to be implemented in 2H2019. OTMT is also looking to invest […]
Posted inOther Business News of Note
Turkish footwear brand Inci arrives to Egypt
Turkish footwear and accessories brand Inci recently set up shop in Egypt, according to Insite OOH. The brand kicked off a marketing campaign this week and opened two stores at City Stars and Mall of Egypt.
Posted inEgypt Politics + Economics
New rules for cash subsidy programs to roll out by year’s end
The Social Solidarity Ministry is working on bringing some new rules for beneficiaries of its cash subsidy programs Takaful and Karama before the year is up, Minister Ghada Wali tells Al Mal in an interview. Beneficiaries of the programs will have to meet stipulations on a number of things, including children’s healthcare and education, or […]
Posted inON YOUR WAY OUT
Spain’s former full back Michel Salgado is Egypt’s new assistant coach
Former Spain and Real Madrid right defender Michel Salgadois now the assistant manager of the national football team, the Egyptian Football Association recently announced. News came as the national team arrived in Alexandria to prepare for Sunday’s African Cup qualifier match against Niger.
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 (Tuesday): 15,923 (+0.6%) Turnover: EGP 799 mn (3% below the 90-day average) EGX 30 year-to-date: +6.0% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
04-05 September (Tuesday-Wednesday): Euromoney Egypt Conference 2018, Cairo. 10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 11 September (Tuesday): Islamic New Year (TBC), national holiday. 17-19 September (Monday-Wednesday): INTERCEM Cairo to Cape Town cement industry conference, Dusit-Thani LakeView, Cairo. 18 September (Tuesday): Cairo Economic Court to issue ruling on EGP […]