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Egypt reportedly received offers from four unnamed international companies interested in developing the Nile Corniche in Cairo and surrounding tourist attractions, an unnamed governorate official said. The government will be studying the offers over the coming two months and determine whether the project will be developed under a PPP or usufruct framework. The first phase […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt cotton exports rise 6.9% y-o-y in 3Q2017-18
Egyptian cotton exports grew 6.9% y-o-y during 3Q2017-18 to 160.1k qintars, up from 149.7k qintars during the same period last year, according to CAPMAS figures cited by Youm7.
Posted inAutomotive + Transportation
Rubex, Dershal sign MoU for electric car spare parts manufacturing
Plastics manufacturer Rubex has signed an MoU and non-disclosure agreement with Dershal — the local distributor of Dongfeng cars — that will see Rubex manufacture auto components and spare parts for electric cars, Rubex said in a disclosure to the bourse (pdf). Rubex has reportedly signed an agreement with another Chinese company to begin manufacturing […]
Posted inOther Business News of Note
SCZone withdraws land allocated to eight companies for failing to complete projects
The Suez Canal Economic Zone (SCZone) has decided to withdraw 41 mn sqm of land allocated to eight companies back in 1998 for failing to complete their projects or complete their payments for the land, Al Mal reports. The land plots are worth a combined EGP 12 bn.
Posted inEgypt Politics + Economics
CAPMAS to begin nationwide census of gov’t employees in October
The Central Agency for Public Mobilization and Statistics (CAPMAS) is planning to begin a nationwide census to determine the number of government employees in October, Youm7 reports. CAPMAS expects to release the data in a year’s time.
Posted inNational Security
Security forces kill 20 militants in Western Desert, Sinai
Security forces have killed at least 20 militants in recent raids in the Western Desert and North and Central Sinai, according to a military statement. The statement does not clarify the timeline of these raids.
Posted inSports
Aguirre announces 13 local-based players for Egypt
National football team coach Javier Aguirre announced yesterday the names of local players who will be playing against Niger in the 2019 Africa Cup of Nations qualifier on 8 September, Ahram Online reports. The new likes veterans such as Ahmed Fathy and Mahmoud Kahraba and includes Eslam Gaber and Baher El Mohamady. The list of […]
Posted inON YOUR WAY OUT
Egypt wants to make its own Sophia the Robot just to answer citizens’ FAQs
Egypt wants to make its own Sophia the Robot — just to answer citizens’ FAQs: The government is looking into creating an Egyptian version of ultra-creepy Saudi robot Sophia, Central Authority for Organization & Administration head Saleh El Sheikh told reporters yesterday, Al Mal reports. The robot would be tasked with responding to the multitude […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.84 | Sell 17.94 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,836 (+1.5%) Turnover: EGP 907 mn (7% above the 90-day average) EGX 30 year-to-date: +5.4% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
04 September (Tuesday): Egypt’s Emirates NBD PMI for August released. 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 […]