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Sumitomo Electric Wiring Systems Egypt broke grounds on a new factory in 6 October City on Wednesday, according to Al Masry Al Youm. The factory’s investment value was not disclosed, but construction work is expected to be complete in March, with operations set to start in April, company executives told Prime Minister Mostafa Madbouly during […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Housing Ministry allocates two land plots for Batterjee medical services to build medical cities
The New Urban Communities Authority (NUCA) approved the allocation of two land plots in 6 October City and Luxor to Saudi’s Batterjee Medical Services to establish new medical cities, Al Mal reports. Prime Minister Mostafa Madbouly met with company head and CEO of the Saudi German Hospitals, Sobhi Batterjee, in Cairo on Thursday to discuss […]
Posted inTourism
Canada expands air transport agreements with Egypt, as tourism demand increases
Canada has expanded its air transport agreement with Egypt to allow airlines to operate up to seven passenger flights per week, from four, Canadian Minister of Transport Marc Garneau said in a press release. Under the agreement, designated airlines from both countries will be allowed to operate in any city in the other country's territory. […]
Posted inAutomotive + Transportation
Military Production Ministry, Bombardier agree to cooperate in manufacturing railway locomotives
The Military Production Ministry has reached an agreement with Canada’s Bombardier to cooperate in manufacturing locomotives for Egypt’s railway projects, Al Mal reports. The agreement will see Bombardier providing its know-how for the manufacturing of the locomotives at the ministry’s factories. No details were provided on the timeline or expected investment value of the project.
Posted inBanking + Finance
EIB, NBE sign EUR 375 mn financing agreement to support Egypt’s SMEs
The European Investment Bank (EIB) and National Bank of Egypt (NBE) have signed a EUR 375 mn financing agreement to support SMEs in Egypt, Al Mal reports. The agreement comes as part of the EIB’s Economic Resilience Initiative. EIB had also signed a financing agreement under the initiative with Bank of Alexandria last month.
Posted inSports
Egypt sweeps African Youth Games, walking away with 206 medals
Egyptian athletes won a total of 206 medals at the African Youth Games in Algeria, placing Egypt at the top of the championship’s ranking in terms of the number of medals won, Al Ahram reports. The sweep includes 103 gold medals, in addition to 58 silver and 45 bronze medals. Swimmer Lujain Diaa El Din […]
Posted inON YOUR WAY OUT
EG Bank, Cairo Angels launch second cycle of MINT Incubator
EG Bank and Cairo Angels have launched the second cycle of the MINT Incubator, following a successful Spring 2018 cycle, according to an emailed statement. “The incubation period entails workshops, boot camp, mentorship, subject matter experts, business development and accelerating growth.” Click here for the details on the incubator and to apply for the upcoming […]
Posted inON YOUR WAY OUT
Egypt to build museum of religious tolerance at New Capital
Egypt is planning to build a museum of “religious tolerance” at the New Administrative Capital, Antiquities Ministry Khaled Anany said, Egypt Independent reports. The museum will include pieces from the Pharaonic, Islamic and Jewish civilizations to show how Egypt’s “inclusive culture creates a diverse environment for all religions to flourish.”
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.95 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Thursday): 15,199 (+0.1%) Turnover: EGP 986 mn (6% above the 90-day average) EGX 30 year-to-date: +1.2% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
26-28 July (Thursday-Saturday): Green Banking: The Road to Sustainable Development, Baron Palace, Sahl Hasheesh, Hurghada. 30 July (Monday): Finance Minister Mohamed Maait will address the American Chambers of Commerce on Egypt’s financial reform agenda. 05 August (Sunday): Egypt’s PMI reading for July released. 16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid […]