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A number of unnamed UAE companies are reportedly planning to establish USD 200 mn-worth of industrial and real estate projects in 6 October City, said Mohamed Saaban, chairman of the 6 October City investors association. UAE investors have expressed their interest in building factories to produce and sell supplies for new and renewable energy projects […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Auto sales continue resurgence, rising 39% y-o-y in 5M2018
Total auto sales rose 39% y-o-y in the first five months of 2018, with 63,946 vehicles sold, according to figures from the Automotive Information Council (AMIC) picked up by Al Mal. Passenger car sales grew 38.3% y-o-y in 5M2018, which saw Chevrolet capturing a 24.2% market share, followed by Hyundai (17.4%), Nissan (16.2%), Renault (7.4%) […]
Posted inAutomotive + Transportation
Mercedes-Benz Egypt launches used car program
Mercedes-Benz Egypt announced launching a new program that allows customers to buy and sell used Mercedes-Benz cars, or trade in their current vehicles for a newer or certified used car, according to an emailed statement (pdf). Cars that pass the safety, mechanical, and electrical tests are granted a 12-month warranty and 24-hour roadside assistance.
Posted inAutomotive + Transportation
Autoplast in talks with General Motors Egypt to produce auto components
Plastic manufacturer Autoplast is in talks with General Motors Egypt to locally produce and export car parts, Development Manager Ehab Abo El Enein tells Al Mal. The two companies will be meeting early next month to agree on the prices and quantities. Autoplast will also be holding similar talks with Nissan Egypt.
Posted inBanking + Finance
CBE disburses EGP 500 mn to mortgage finance companies
The central bank has agreed to expend a second EGP 500 mn tranche to mortgage finance companies from its EGP 20 bn Mortgage Finance Fund, CBE Sub-governor Lobna Helal said, according to Al Mal. Five companies are currently enrolled in the CBE’s initiative and talks are ongoing with the Finance Ministry to keep the program […]
Posted inNational Security
Egypt, Greece, Cyprus begin joint naval and air force exercise
Egypt, Greece, and Cyprus began yesterday a multi-day joint naval and air force exercise off Egypt’s Mediterranean coast, according to an Armed Forces statement. The joint exercise, Medusa 6, will include training on naval and air combat maneuvers, among other activities.
Posted inSports
Sara Samir, Nancy Taman, Ragab Abdalla snag gold at Mediterranean Games
Olympic weightlifter Sara Samir clinched a gold medal in the women’s 69 kg class at the 2018 Mediterranean Games yesterday, the official website for the tournament shows. 23-year-old Nancy Taman also won a gold medal in artistic gymnastics, while Ragab Abdalla won the gold medal for the men's weightlifting 94 kg class. This brings the […]
Posted inON YOUR WAY OUT
Hodor plays Megadeth
Hodor plays Megadeth, coached by Dave Mustaine and David Ellefson (watch on Instagram, runtime: less than 1 min) or get the full story on Loudwire.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.83 | Sell 17.93 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 16,197 (-1.6%) Turnover: EGP 781 mn (25% below the 90-day average) EGX 30 year-to-date: +7.8% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
28 June (Thursday): CBE’s Monetary Policy Committee meeting. 29 June (Friday): IMF’s executive board meeting to review progress on Egypt’s reform program. 1 July (Sunday): Application deadline for the DigitalAG4Egypt Challenge. 16 July (Monday): Cairo Court of Appeals to issue ruling on EGP 5.6 bn antitrust case against pharma companies including Ibnsina. 23 July (Monday): […]