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Egyptian electronics manufacturer SICO plans to release what company CEO Mohamed Salem described to Youm7 as “the first Egyptian-made tablet PC” on Wednesday. The SICO Express 3 (we wonder what happened to models 1 and 2), which was manufactured in the Assiut industrial zone, will source 45% of its components in Egypt, he claims. We […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Infinix in talks with government to set up local smartphone plant
Chinese smartphone maker Infinix is currently in talks with the government to set up a local phone factory as part of the company’s overseas expansion plans, MD Benjamin Jiang tells Al Shorouk. Infinix and Meizu have been considering setting up local manufacturing linessince last year and had conducted feasibility studies.
Posted inAutomotive + Transportation
Bombardier completes feasibility studies for Cairo Metro Line 6
Canada’s Bombardier has completed and presented the results of the feasibility studies for the development of Cairo Metro Line 6, Assistant Transport Minister Amr Shaat said, Al Mal reports. The National Authority for Tunnels (NAT) had signed an MoU with the Canadian company last July to conduct the feasibility studies. The 30 km line will […]
Posted inBanking + Finance
Vitas Group to extend EGP 200 mn in SME loans by 2020
Vitas Misr for Microfinance, a subsidiary of B Investments’ Ebtikar, is planning to extend as much as EGP 200 mn in loans by 2020 to more than 10,000 SME clients, CEO Hossam Heiba tells Al Mal. The company is expecting to obtain its final permit within two weeks. We earlier noted that B Investments plans […]
Posted inBanking + Finance
NBE, Banque Misr, BdC to provide Ezz Steel Rolling Mills with EGP 3.4 bn syndicated loan
The National Bank of Egypt, Banque Misr, and Banque du Caire are reportedly providing Ezz Steel Rolling Mills with a EGP 3.4 bn syndicated loan to finance the working capital of the company’s Ain Sokhna facility, unnamed banking sources tell Al Shorouk. No further details were announced.
Posted inON YOUR WAY OUT
Egyptian doctor who developed life-saving vaccines passes away, is mourned by Bill Gates
Globally prominent Egyptian physician who developed life-saving vaccines passes away, is mourned by Bill Gates: Egyptian doctor Adel Mahmoud, who developed and / or championed several life-saving vaccines, passed away earlier this month in New York at age 76. “The world lost one of the greatest vaccine creators of our time,” Bill Gates said in […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.82 | Sell 17.92 EGP / USD at CIB: Buy 17.82 | Sell 17.92 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Sunday): 16,395 (+0.3%) Turnover: EGP 789 mn (25% BELOW the 90-day average) EGX 30 year-to-date: +9.2% THE MARKET ON Sunday: The EGX30 ended […]
Posted inCALENDAR
25 June (Monday): Egypt plays against Saudi Arabia at 2018 World Cup, Volgograd, Russia. 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 […]
Posted inWhat We're Tracking Today
What we’re tracking on 23 June 2018
** Our apologies for being a few minutes later than usual this morning, but it was a particularly busy weekend on the news front. Prime Minister Mostafa Madbouly has postponed the unveiling of his government’s policy and legislative agenda to an as-yet unspecified later date, unnamed sources in the House tell Ahram Gate. Madbouly had […]