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The Arab Organization for Industry’s (AOI) railways factory SEMAF is planning to complete Egypt’s first locally-manufactured double-decker train by the end of 2018, factory director Abdel Rahman Hussein tells Al Watan. The factory is now working to secure all the materials needed to produce prototypes after the National Railway Authority (NRA) approved the designs for […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
EBRD, Transport Ministry near new loan agreement to purchase Cairo Metro Line 2 locomotives
The European Bank for Reconstruction and Development (EBRD) is “finalizing” a new loan agreement with the Transport Ministry to finance the purchase of six new locomotives for Cairo Metro Line 2, EBRD Managing Director for the Southern and Eastern Mediterranean Janet Heckman says. Heckman did not disclose the size of the funding package. The ministry […]
Posted inAutomotive + Transportation
Work on Alexandria tram project to begin next year, wrap up by 2022
Work on the EUR 360 mn Alexandria tram project will begin early next year and is expected to take three years to complete, according to a Cabinet statement. The overhauled tram is expected to serve 250k-300k commuters per day once it is operational in 2022.
Posted inAutomotive + Transportation
Modern Motors win exclusive distribution rights for Nissan’s new Infiniti Model
Modern Motors won exclusive distribution rights for Nissan’s new Infiniti model after participating in a tender with a number of other local bidders, CMO Hazem Salah tells Al Mal. The company is currently working on creating an independent body to market the new model, he adds.
Posted inON YOUR WAY OUT
The 2018 top 10 diving destinations in Egypt
If you’re looking for one of the best scuba diving experiences on the planet, Egypt is the place for you, according to Dive Magazine, which put together a host of images and videos from the country's top 10 dive spots (watch, runtime: 03:17).
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.85 | Sell 17.94 EGP / USD at CIB: Buy 17.83 | Sell 17.93 EGP / USD at NBE: Buy 17.80 | Sell 17.90 EGX30 (Tuesday): 16,002 (-2.3%) Turnover: EGP 818 mn (27% BELOW the 90-day average) EGX 30 year-to-date: +6.7% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
14 June (Thursday): 2018 World Cup kickoff match between Russia and Saudi Arabia, Moscow, Russia. 15 June (Friday): Egypt’s first 2018 World Cup match against Uruguay, Yekaterinburg, Russia. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 19 June (Tuesday): Egypt plays […]
Posted inWhat We're Tracking Today
What we’re tracking on 05 June 2018
It’s a relatively quiet morning in Egypt and and around the world. The four global business most relevant to your day include: #1 — Cerberus Capital Management is offering USD 125 mn for Abraaj’s private equity business, the Wall Street Journal reports. The firm’s execs reportedly hope the bid “brings stability while [Abraaj] works out […]
Posted inWhat We're Tracking Today
CIB redoubles commitment to Egypt
!_ImageURLEmail_https://enterprise.press/wp-content/uploads/2018/06/cib-commitment-campaign-email.jpg *** A word from our sponsor: CIB and its thousands of employee shareholders are committed to making a difference in Egypt as the nation’s leading private-sector bank (watch; runtime: 0:31). Every day, CIB and its staff put capital to work, growing the economy by helping manufacturers, exporters and small businesses expand and create jobs. […]