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Air Cairo will begin operating a once-weekly flight from Luxor to Milan as of 28 October, in addition to a Hurghada-Milan route, Commercial Director Essam Azab said, according to eTurbo News. The airline will also operate flights between Sharm El Sheikh and Venice and Bologna during the winter season, according to Azab. Air Cairo already […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Latvia’s KleinTech Services offers to equip Egypt’s railway network with radar and tracking systems
Executives from Latvia’s KleinTech Services met with their counterparts from National Railway Authority subsidiary TransIT to discuss potential cooperation on upgrading Egypt’s railway system, Software Engineer Oleg Petryshyn tells Al Shorouk. KleinTech submitted a formal offer to install a radar system for train tracking and control, as well as train-to-train communication networks, he said, making […]
Posted inBanking + Finance
Endowments Ministry could establish two funds with EGP 3 bn in capital soon
The Endowments Ministry is considering launching two investment funds with a combined capital of EGP 3 bn that would rise gradually to EGP 10 bn over two years, Minister Mohamed Gomaa said, Amwal Al Ghad reports. We had heard earlier this year that the ministry had tapped EFG Hermes, Beltone, and CI Capital to help […]
Posted inBanking + Finance
SICO enters talks with four banks for EGP 550 mn facilities to finance investment plans
Egyptian electronics manufacturer SICO is currently in talks with four banks for several facilitated loans worth a combined EGP 550 mn to finance its investment plans over the next three years, CEO Mohamed Salem tells Amwal Al Ghad. SICO has reportedly already secured a EGP 172 mn loan from Banque Misr and another EGP 40 […]
Posted inOther Business News of Note
Nestlé Egypt targets 20% increase in exports in 2018
Nestlé Egypt is looking to increase its exports 20% y-o-y in 2018 from a current USD 50 mn as it eyes further expansion in North African markets, CEO Moataz El Hout said, according to Al Masry Al Youm. The company is also working on gradually increasing its reliance on local raw materials, El Hout said, […]
Posted inOther Business News of Note
IDA agrees to extend construction deadline for 1,000 factories project investors for 6 months
The Industrial Development Authority (IDA) has agreed to give 20 investors from the New Cairo 1,000 factories project a six-month extension to the deadline to either begin construction or production, or risk losing their plots, says Hesham Kamal, a member of the factories’ investors union. The deadline expires in January 2019. The IDA had previously […]
Posted inLegislation + Policy
House to introduce law barring anyone without a journalism degree from Press Syndicate membership
The House of Representatives’ Human Rights Committee Chair Alaa Abed plans to introduce an amendment to the Press Syndicate Act that would bar those who have not received journalism degrees from being members of the syndicate, Abed tells Youm7. While the Press and Media Act does not bar non-members from practicing journalism, the law does […]
Posted inEgypt Politics + Economics
52 militants killed, 26 hideouts and weapon depots destroyed, and 64 explosive devices dismantled in North Sinai
Egypt’s military announced yesterday that forces in Sinai have killed at least 52 militants and destroyed 26 hideouts in the last few days as part of the ongoing and extensive anti-terror campaign in the northern part of the peninsula.
Posted inEgypt Politics + Economics
El Sisi ratifies Foreign Campuses Act
President Abdel Fattah El Sisi ratified yesterday the Foreign Campuses Act, which sets the rules for foreign universities opening campuses in Egypt, Ahram Online reports. The House of Representatives had signed off on the law last month.
Posted inON YOUR WAY OUT
Noah’s taste in football is certainly better than his jokes
Noah’s taste in football is certainly better than his jokes: When he’s not roasting us (deservingly so with that Donkey-gate nonsense) and being a generally poor substitute for Jon Stewart, the Daily Show’s Trevor Noah is an avid football fan. With Mohamed Salah being one of his favorite football players and his jokes still being […]