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The Finance Ministry’s Public-Private Partnership Central Unit (PPPCU) is planning to launch a tender to the private sector soon for the construction of the faculty of commerce at a new Ain Shams University-affiliated campus in Obour City under a PPP framework, unit head Atter Hannoura tells Al Mal. The faculty is one of nine schools […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Russian-Hungarian consortium offers to finance 1,300 railway car purchase
A Russian-Hungarian banking consortium has offered to provide the Egyptian National Railways (ENR) with a loan to finance the purchase of 1,300 railway cars from Russia’s Transmashholding, Al Masdar reports. The loan would carry an interest rate of 1.8%. ENR had announced last week that Transmashholding has been awarded the contract to supply the cars, […]
Posted inBanking + Finance
Ethydco in talks with local banks to finance EGP 1.8-2 bn polybutadiene plant
The Egyptian Ethylene and Derivatives Company (Ethydco) is reportedly in talks with local banks to arrange a EGP 1.8-2 bn loan needed for a polybutadiene factory it’s looking to establish at its Alexandria industrial complex, unnamed sources tell Al Mal. The company, which is shopping for a facility with a 5-7-year tenor, is holding discussions […]
Posted inEgypt Politics + Economics
Mohammed Badie and four others sentenced to life in prison
A Cairo court sentenced yesterday ex-Ikhwan head Mohammed Badie and four others to life in prison on charges related to the killing of seven people in 2013, according to the Associated Press. Four others also received 10-15-year sentences on the same charges. The verdict, which can be appealed, is the latest life sentence to be […]
Posted inSports
Powerlifters Sherif Osman and Fatma Omar secure two gold medals for Egypt at Algiers 2018 World Para Powerlifting African Championships
Sherif Osman and Fatma Omar will bring two gold medals home from their victories at the Algiers 2018 World Para Powerlifting African Championships yesterday, according to the tournament’s official website. Osman, who also won gold in the Rio 2016 Summer Paralympics, significantly outperformed the competition — clearing the bar at 206kg. Fatma Omar lifted 135kg […]
Posted inON YOUR WAY OUT
Antiquities Ministry releases promo on Sohag National Museum
To commemorate the inauguration of the Sohag National Museum yesterday, the Antiquities Ministry released a short promotional documentary that showcases the new facility, which displays a collection of 945 artifacts from different eras unearthed from sites near the Upper Egyptian city (watch, runtime: 1:39)
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.83 | Sell 17.93 EGP / USD at CIB: Buy 17.83 | Sell 17.93 EGP / USD at NBE: Buy 17.78 | Sell 17.98 EGX30 (Sunday): 15,924 (-1.2%) Turnover: EGP 428 mn (51% below the 90-day average) EGX 30 year-to-date: +4.8% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday. 28-29 August (Tuesday-Wednesday): CI Capital’s 5th Annual Egypt Equities Conference, Cape Town, South Africa. 04 September (Tuesday): Egypt’s Emirates NBD PMI reading for August due. 04-05 September (Tuesday-Wednesday): Euromoney Egypt Conference 2018, Cairo. 10-13 September (Monday-Thursday): EFG Hermes’ […]
Posted inWhat We're Tracking Today
What we’re tracking on 12 August 2018
The news week has gotten off to a solid start, as the new month brings us the inflation figures. The weekend’s most gripping news which we dive into in greater detail in the Speed Round, include: Annual headline inflation cooled to 13.5% in July, down from a high of 14.4% in June. We have very […]